The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-08-07
FIN ANCE.
TmE FINANCIAL pLANKs ADOPTED
HY THE VARIOUS DEMOCRATIC
STATE CONVENTIONS.


Arknugas Democratic Financial Pfanks.
l. We are In favor Of making United States
Treasury notes full legal tender for all dues
when the terms Of the original debt or con-
tract are not expressly to the contrary, and
that they shall be receivable for all duties
and interest on the public debt.
q That national bank notes should be re-,
tired, their further issue prohibited, and
United States Treasury notes substituted
therefor.
g. The power to issue paper money and coin
as legal tender is only vested in the national
government. and that this power should be
exercised from time to time so as to accom-
MEDIATE the necessities Of trade, labor and the
general wants Of the people OF growing
country.
4. We are opposed to any plan Of fund
ing the debt of the country by which an
unjust contraction Of the currency below the
necessities of the whole people can be estab-
lished and which has not for its object the
funding of the debt ut home.
s. We are opposed to any increase Of the in
terest-bearing part OF the public debt for any
purpose.
T. We are in favor of the reconciliation of
silver and giving it the same legal tender
qualities as gold, and that It's coinage shall be
free and unlimited,
s. We favor the equalization Of the status
#Of greenbacks, silver and gold dollars for all
purposes; that the national dollar shall be Il
dollar among oil our people and in every de-
partnent Of the government,
8. We demand the unqualified repeal Of the
odious resumption act.
vermont Democratic Financial Plank.
The honest payment Of the public debt in
such currency as its terms imply, and the
preservation Of the public faith
One currency for all. We oppose the pres
ent banking system, and recommend the
gradual substitution of greenbacks for na-
tional bank bills.
Texas.
The Texas Democracy speak as follows
G. That the commercial and Industrial stag
nation which has so long prevailed through
out the country, and the consequent wide
spread want and suffering, are due directly to
the pernicous financial legislation of the
Republican party, which we hereby arraign.
Contraction Of the currency and the demone-
t1atiOn of silver are denounced. The action
of Congress in restoring the debt-payng
power OF the silver dollar is approved.
T. We favor one currency for the govern
rnent and people, laborer and otliceholdcr,
pensioner and soldier, producer and bond
holder
8. We declage that all bonds and obligations
OF the national government ought to be paid
in legal tender notes by tho United States,
except whore it is otherwise provided by the
original law under which they were issued,
and all that can be called in and paid now
should be paid at once and the remainder as
soon as 1t can be lawfully done.
Colorado Democratic Plank.
The the commercial and industrial distress
that prevails is the result of vicious financial
lessiE fatieesa ef rnennrnA nnrpnr, effected
through the agency of the Republican party
In Congress by the decentralization Of silver,
enactment OF the resumption law, retirement
and destruction of legal tender notes, ex-
change OF bonds originally redeemable in
greenbackS for those which arc to be re-
deemed in coin, and the maintenance Of q ma
tional bnnking system; that before trade and
business enterprises can be checked III their
downward course an increase in the volume
OF currency Is imperatively required de-
mandS a free and unlimited coinage OF silver,
80 that owners Of bullion may have 1t coined,
and without further interference by the gov
eminent circulate the same. Also that the
government shall issue to depositors of silver
bullion coin certificates for circulation as
money. Denounces the Senate amendments
to the silver bill passed by Congress, because
they enabled the Secretary of the Treasury to
entirely control the coinage Of silver and to
hoard the same in the treasury. Demands
the repeal Of the resumption act and SUBJ
stitution of United States legal tender
paper for national bank notes, and It's
permanent re-establsEment as the sole paper
frfaney Of the country, to be mndo receivable
such issues to be 50 regulated by Legislative
and organic law. At1irms the exclusive right
and duty Of Congress to furnish the people
of the country their circulating medium,
always maintain the values Of such currency,
80 as to meet the demand Of trade The faith
and credit of the government should be
pledged to maintain whatever currency it
may furnish Of equal value and power. No
further increase IN the bonded debt, and no
further sale of bonds for the purchase Of coin
for resumption purposes. A gradual eaxtinc--
ton Of the public debt by the redemption OF
the Understanding portion thereof in such
currency as the law will permit, in United
States notes whore coin is not demanded by
the letter of the law, and in silver equally
with gold whenever coin Is required.
michigan.
The Michigan financial plank, adopted on
the tenth instant, at Lansing, is rs follows:
We declare that gold and silver coin Is the
money Of the constitution, and all paper cur
rency should be convertible into such coin at
the will of the holder.
We are opposed to the further forcible re-
duction of the volume of the currency, and
we affirm the action of Congress prohibiting
such reduction.
PRINCE OF SERBIA.