The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-09-12


cratic State and has been for ten years
: without let or hindranCe from Radicalism
= andthequestion uppermostin theirpreseiI
State canvassiswhether they shall ythei
: State debt, fairly and honestly contracted
or repudiate II. The Tennessee Demo
| cracy on the 10Th Of Inst month, in thel
: Convention Mt Nashville, made declare
tions OF principles to which i desire TO cal
| attention. That State is represented Il
{ Congress by Il Democratic delegation o
, nine members. They are mon OF force AM
, ability. They represent probably the grea
central idea of the solid South upon tn,
, currency question and upon economic pol
! itics generally. They are only a little NOR
] bold than their brethren In Ohio and In
! diana, and the West, ind have only de
clared in advance what the Democrat,
party Of Ohio would declare to-day ii thci
did not stand in awe OF the honesty ant
} integrity Of our people.
nuT READ THE PLATFORM.
Inthename Of Democracy we dcnounct
nm interest bearing debt as.a-public curse
We denounce protection as n public rob
berry. We demand tic repeal OF Tho
decaration that the currency bonds OF thu
government shall be paid in coin, and the
payment in Treasury notes OF so much o.
said bonds us may be found due after de
Quoting the difference between the value
OF the gold paid and the currency due
thereon, according TO the contract; the re
peal of the resumption net, that the odious
National banking act be repealed, and
that greenbacks hc substituted for the cir.
culation OF the National Banks; that the
Treasury notes be made receivable for all
government dues; that no more interest
bearing bonds be issued, and that all loans
required by the government be raised by
the issuance OF non.intereSt bearing Treas.
ury notes" .5.. Is. ,,isl 49,
Here sir, is Reputation, open, bold, de.
flint. Enact into law what is here dc
manded and the measures to which this
party in Tennessee pledged itself, and the
bonds OF the United Sta eS would be worth
no more in the markets OF the world than
are the bonds of the State Of Tennessee to-
day. And your legal tender money that
stands now within one.llalf OF one per
cent OF par, would go rapidly down the
scale until Il would finally reach the gutter
in which the Confederate currency rotted
Is years ago. II isthe same old war against
the credit OF tho government that was be-
gun almost us soon as the war closed, and
that was thought to have been settled for:
ever by the net OF March 18Th, 1869, cnti-
tied Gan act to strengthen the public
credit" And here let me say OF that act,
that is SO often quoted by the Democratic
platform makers and by Dcmocraticspeak-
ers as an act that added millions OF dol
lars to the public burthcns, that II was
passed in March, 1868, after the question
Us to the payment OF the public debt had
been discussed in the campaign OF 1868,
and while we are told upon every hand
that it was an act mainly in the interest OF
the Northumberland Of the public creditor,
OF the banker, and all that, yet whilst they
had an interestin strengthening the pub
lie credit and securing IN honest and full
payment OF their bonds in coin, yet take
it that the legislation commenced in 1862,
and that eliminated in the passage OF the
Resumption Act OF 1878, while it strength
ened the public credit and while it benefit
ed the bondholdcr, yet, in the long run
there is no class ofpoople in this country
who have received and who will hereafter
receive more benefit from this legislation
than the poor man, the laboring man, the
tradesman, those who have but little OF
this worlds goods, and that little mainly
in money. .saa a
These acts were not intended solely to
secure the payment Of the public creditor
in coin, but they were. intended TO bring
up to the standard Of coin the money Of the
people. 1t don't matter to you or !
whether the bondhOlder receives his in
terest and principal in gold or greenbacks,
provided always that the grecnbacks are
equivalent to gold. s)s
Now those who cry out against tho
act OF March. 1869, cry out against
making your grccnback equal value TO
coin. The very argument they use is one
in favor Of keeping ailoat deprecated
currency so that you may finally pay the
bondholder the principal OF his bond, MS
1t becomes due, in dollar less than one
hundred cents. lftheir cutlery means any
thing but campaigning claptrap it means
this. 1t is mo advantage to the bondholder
to receive his interest in gold now, rs it
was u few years ago. Then the money in
which he received his interest was worth
ten, fifteen or twenty-five per cent more
than undergraduates, more than your money,
and by reason Of the Legislation OF the last
few years, and above all, by reason Of the
faith that the people in this country have
in the honesty and integrity Of their Gov
crnment, the bOndholder's money is no
better to-day than the laboring mans
money. .,..,.f.. .........s.l ...,.
THE LAST FIVE YEARS.
Iknow that the Republican party has
had u struggle OF five years against the
hard times, against the prevalence OF low
wages, the want OF work, and especially
the general distress throughout the manu-
featuring and mining districts OF the cOun-
try. 1t is to-day, and has been for five
years, contending against the very C0ndi-
lion OF things that Mr.. Pendlcton and
other leaders OF the Democratic party in
1872 predicted Us the inevitable result oil
putting atloat legal tender money, IN ir-
redeemable paper currency These dlsas.
tiers were forcsecn, they were foreshad-
owed, and the country was, to some ex-
tent, iorcwarncd in 1862. The overriding,
the running in debt, the speculative enter
prises, the extravaganza in living that was
predicted then, ull followed, and we have
been reaping the consequences for five
years. ,I..I IL ..-...... ...r.....
congratulate the Republican party Of
Ohio upon the courage it has displayed,
uIlN tilt ltuSlllOl IL lltLS lllulHlullSu blilSc
1873, in the face Of all discouragenents;
and / still have faith that tho intelligence
and integrity OF our people will carry us
triumphantIy through TO redemption, to
the time when our paper money will be
convertible into coin, and that we will
weather the storm, and not bring upon
ourselves In our extremity, the disastrous
consequences Of u further departure from
the policy and principles OF our fathers, as
hid down in the constitution and devel-
opcd in the financial policy OF our Gov
eminent in the century preceding the war.
The outlook is not u disastrous one when
we come to take into account the condi-
ton OF the public credit. The public dejt
has been reduced from the highest point
it ever reached, amounting 10 about So
OO0, 600 600 in 1865. On September l, 1878,
the total debt less cash in the Treasury
was s., O29, l05, 09O,07. a....
-.