Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-09-27
CONNECTICUT REPUBLICANS.

The platform of the Republicans of Con-
necticut more nearly represents the true
sentiments of the Republican party of the
country at large on the currency question
than the uttefances of any similar convention
yet held. For that reason the people gener-
ally should understand precisely where the
party stands. The third resolution of the
platform declares
That the issue Of legal tender notes was only
justifable by the necessities Of war, and that
any attempt to lower the standard of money,
or to increase the volume of irredeemable paper
currency, or to make the money of the people
unstable, or to deteriorate coin, is simply re-
pudiation, and we declare reissue of legal
tender paper in time Of profound peace would
be without excuse. and gross violation of the
fore, we demand the actual resu m ption of specie
payments at the time fixed by law, and that
Congress shall do no act to delay it, but shall
leave the country free in It's reviving prosperity
There are several propositions in this
paragraph which it would be we'll to thorough
ly disaect. The issue of greenbacks is de-
clared Unsuitable only by reason of the war,
and, therefore, the war being over, the keep
ing of them in circulation is unjustifable
and illegal. This is the deliberate opinion
of the Republicans Of Connecticut and OF
the country at large.
The declaration that ssany attempt to make
the money of the people unstable, or to
deteriorate coin, is simply reputation, 2
should be commended to John Sherman.
He has probably done more than any other
man in the country to make both the cur
rency and coin unstable IN value, and it NAV
be Interesting to learn that his Republican as
sociates regard him as rank repudiator. BY
throwing dlscredit upon the greenback he has
kept it below par; by repudiating the trade
dollar openly he Las caused holders to suffer a
loss of ten cents on every dollar; by declar-
ing that the people do not want the standard
silver dollar and refusing to put it in circu-
lation he has done all in his power to dete-
riorate and debase that coin. He, so far as
we have been able to discover, is the only
repudiator to whom the language can be
properly applied.
A reissue of legal tender paper is declared
to be "without excuse and gross violation
OF the constitution of the United States.n
This is tantamount itself to declaration in
favor of the reputation of the greenbacks,
and was framed, evidently, in the interest
of the national banks. It is the purpose of
the Republicans, instead of substituting
greenbacks for national bank notes. as the
people demand SO universally, to substitute
national bank notes for the greenbacks, and
thus to add to the power of these institu
tions. It is the old issue Of the people
against the aggressions of the money power,
and as usual the Republican party has
espoused the cause of the banks as against
that Of the people.
The actual resumption of specie payments
demanded is of piece with the rest of the
policy. The actual resumption would re-
suit in the depletion of the treasury of coin,
to be boarded and cornereds lat will by the
bankers and brokers of the money centers,