Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1878-08-27

~ NJ NAkNSAhA0n "a AAN4A HbAihN~Af ~A~A4S
Obd principles, enunciaIiug 81 they do
the conceptions OF tho nature and
functions OF our National Government.
which gave the Republican Party lite
and power and have maintained it IN the
confidence Of lhe people 50 many years,
h.v, my hearty GpproyA. and concnr-
renCS. Is the Utterances Of faithful and
inhueutis constituents of the party
which restored the Union. destroyed
slavery. Incorporated in the Constitution
the explicit and emphatic prohibition oi
infringement upon the rights and privil-
eyes OF citizens Of the United States and
- hose history is reple,e with benefits TO
tne " hole country, they demonstrate that
ihsI party IS sill the party OF the people,
the defender OF the national supremacy
sud OF equal rights, and the jealous
guardian and promoter OF every interest
tbs, concerns the general good.
The prominence given TO the declara-
sion OF tht iuyiolsb.lily ofsthe faith OF
lbc nation 20 is creditors. 10 the demsnd
for honest money and tor the redemption
Cl The currency 10 the mannet and at the
time specified by law. IS well deserved
in view o. re sSi,sti0n which hrcs!cns
the repudiat.on ~ ,he public debt and
the consequent spoils,iou Of thousands
Of psirIOuc anc industrious citizens, the
ropea. VI nc act providing Tor The re-
sumption VI specie pSJmenis and yiIIu-
Sly constituting q cOpusct on The lallh
OF which the people have for three years
seized and regulated their affairs, and the
iufiChOn upon the country OF al ire
deemaOie ard LlimitsOie currency. The
Resumption Act, as The immediate object
OF attack, becomes the rallyIng point tor
SCI friends OF honest money and uphold
ers oi the honor % sbe country. That
set contemplsies the too loUg deferred
execution OF the purpose which attended
the issue OF the currency ard was an-
nounced from time 30 time until Il oul-
minated 10 tne passage OF the act. The
cOmpu!siCu Oi the harsh necessities OF
war, and the understanding that IL WAS
10 &c out = temporary oXpedieut and not
measure 10 DO continued beyond the
emergOncy alone prevailing over the
misxiyiuxs OF the statesmen who gave
their asseu, 70 the issue Of promises 10
pay in pIsCe OF the real money Of the
Constitution By the act Of 1869 the
lzilh Of the United States was solemnlT
pledged 10 MAKE provision, At the
earliest practical period, for the redemp-
ton Ci the United States notes in coin"
Tee Resumption Ac, bestowed ample
powers upon the Secretary OF the Treas
ury 10 prepare for redemption. and that
Oflcis declares mis- readiness 10 resume
specie payments ~ the time hXed by the
set. There Is therefore no good reason
why contamination which the Govern
'meCt and The people have 10 long looked
forward 10 IS the vindica,ion OF the faith
Of the nation and TIE slArliDg-point Of a
period OF substantial prosperity, should
be longer delsyed.
The opposition TO lhe Resumption Act
proceeds IRON those who object not only
20 resumption 81 present, but 70 resump-
tion 81 any time who PROFOUND and
are CndesyorinG 70 carry into effect the
novel theory that money is bul cOnven-
fiona instruments OF exchange snd that
the Government can, by Il simple nomj-
nstiOn OF value, exalt intrinsically worth
less materia! 10 a constant and perpetual
equality with the precious metals.
Whatever profitable discoveries may
be inside 10 the search for a perfect medi-
um OF exchange combining stability aud
universally OF value with conveuie nee
and ready adaptation 20 the fluctuations
OF demand, sound reason. the opinions
Ol the most eminent statesmen ant p0-
lpiCa. economists and the bitter expert
ence 81 many States scd countries, our
owl country among them. forbid utterly
inst they should be looked tor in sny
pb2se OF qualification Of al irredeemEb e
currency.
ANY prospect Of success when cur
reucy deriving is value solely from the
asserted power Of the Government to
create money might have, would be
greatly enhanced by tull redemption
under The Resumption Act, and, on
the ulhsr hand, would De ruined by The
repea. Uf that act. The scheme VI "ab-
solute money proposes some sort OF
limitation Of the volume OF the currency
and places reliance upon the promise Of
the Government that the limit will be
observed What sanction would the
new promise 20 limit the new currency
possess II the old promise 10 redeem the
old currency had been repudiated? II
would seem 10 be the consistent policy OF
the advocates OF the new theory 10 insist
upon giving full effect TO the Resumption
Act, in order that they might refer to so
signal an instance II re fdeli.T OF the
Gcyerumeu, q Is plishtsd word, IS 8
sUagsg.y u he seCrsduess Of a. ests0-
ls-eo II.- aud .. every o.bor PROMISED
saltglar ysls.--s -r .hs proposed cuC-
reCr7. ~ which tseT might rees % invite
conl3s-cs in iheir monetary system.
Tie question 10 regard 70 tie ResumP-
/ tor sc, 81 q tes. c he character OF the
aU-ulac r-oo.e. For one, ] do not
doubt Inst tLe test Tji. be nob.y borne
ard ,ha, lhoy viii sssert their pride IL
ths GOOD name and fsme Of their country.
their honesty, intelligence and stesdtast-
hess. by adhe5ing % the act and thee
IGNORING the pledges snd SETON OF the
Government. fulfilling promises to pay.
aqu eiec.Jsl.y putting On end tc en- IRE.
Ceemebls currency and the innumerable
misCcie.s sid Snn0ySnces caused By il
The danger hes IL the betrayal Of the
people. The indications are multiplying
on all sides that the Republican Party
lands alone as the champion Of honest