Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-19
AUGUSTA, August l6, 1873.

Portland, July 80. 1873.

have the hOnOl 10 acknowledge lne receipt OF
| your communication iicislly informing that
| tie State Republican Convention. held at Portland
| on the thrtieih day OF July had unanimously he
| nominated me for the office Of Governor Of the
| state of Maine.
The declarations made by the Republicans of
| Maine In convention assembled, as an exposition
of their political aims and principles, euunciatiug
as they do the conceptions of the nature ana func
| tons Of our National Government which gave the
| Republican party life and power and have main
| tanned 1t in the confidence of the people so many
| years, have my hearty approval and concurrence.
| As the uterances of faithful and Influential con-
| sttuents Of the party which restored the Union,
destroyed slavery incorporated in the Constitu-
| ton the implicit and emphatic prohibition of in
Engagement upon the rights and privileges of citi-
zens of the United States, and whose history is
| replete with benefits to the whole country, they
demonstrate that that party is still the party OF the
| people, the defender of the national supremacy
and of equal rights, and the Jealous guardian and
promoter of every interest that concerns the gen.
eral good.
The prominence given 10 the declaration of the
involability of the faith OF the nation to its cred
itors, to the demand for honest money and for the
redemption of the currency in the manner and at
the time specified by law, is well deserved in view
of the agitation which threatens the reputation
of the public debt and the consequent spolation
of thousands OF patriotic and industrious citizens,
the repeal Of the act providing for the resumption
Of specie payments aud virtually constituting a
contract the faith Of which the people have for
three years acted and regulated their affairs. and
tha iuHIr tnu he try of i,re
and ilhmitabe currency. The Resumption Act,
as the Immediate object OF attack, becomes the
rally log pont for all friends of honest money and
uphOlders OF the honor of the country. That act
contemplates the too long deferred execution OF
the purpose which attended the issue of the cur
reucy, and was announced from time to time until
it Gu minated in the passage of the act The
compulsl SION OF the harsh necessities of war and
the understanding that it was to be but tempo
rary expedient and not measure to be continued
beyond the emergency, alone prevailed over the
IN sgsiugs of the statesmen who gave their assent
to the issue OF promises TO pay in place of the
real money of the constitution. BY the act of
1869 the faith of the United States was solemnly
pledged ito make provision, at the earliest prsc
teal period, for the redemption Of the United
States notes 10 COIN The Resumption Act be-
slowed ample powers upon the Secretary of the
Treasury to prepare for redemption, and that Of
fetal declares his readiness to resume specie
payments at the time fixed by the act. There is,
therefore, no good season why contamination
which the government and the people have so
long looked forward to as the vndication of the
faith of the nation and the starting point of a
period of substantial prosperity, should be longer
delayed.
The opposition to the Resumption Act proceeds
from those who object not only to resumption at
present, but to resumption at any time; who pro-
pound and are endeasorng to carry into effect the
novel theory that money is but conventional in
.trument of exchange and that the government
can, by a simple nomination of value, exalt in
trlnscally worthless material to constant and
perpetual equality with the precious metals.
Whatever profitable discoveries may be made in
the search for perfect medium Of exchange COM
buug stability and universally of value with
convenience and ready adaptation to the huctus-
tions of demand, sound reason, the opinions of
the most eminent statesmen and political econom-
ists and the bitter experience of MANY States and
countries our own country among them, forbid
utterly that they should be looked for in any
| phase or qualification of irredeemable cur
rency.
Any prospect of success which currency deliv-
ing its value solely from the asserted power of the
| government to create" money might have, would
| be greatly enhanced by full redemption under the
| Resumption Act, and, on the other hand, would be
| ruined by the repeal Of that act. The scheme Of
| absolute money proposes some SOFT of lma-
Of ne volume pf he unla
| lance upon the promise of the government that
| the limit will be observed. What sanction would
the promise to limit the new currency possess
if the old promise to redeem the old currency had
| been Tepud lated
| IL would seem to he the consistent policy of the
| advocates of the theory TO insist upon giving
| full effect to the Resumption Act in order that they
| ght refer to so signal an instance of the fidelity
of the government to its plighted word, as
| guaranty Of the sacrcdness of an established limit
and of every other promised safeguard relating to
the proposed currency by which they tight seek
t1 invite confidence in their monetary system.
The question in regard to the Resumption Act
Is test OF the character Of the American people
For one, do not dc ubt that the test will be nobly
borne, ard that they will as, eIt their pride in the
good name. and fame of their country, their
honesty, intelligence and steadfastness, by adher-
Ing to the act and thus honoring the pledges and
action OF the government, fulfilling promises to
pay, ami ehectualy putting an end to an ire
deemabe currency aud the immune rAble mischief,
and annoyarces caused by It. The danger lies in
the betrayal OF the sentiment of the people. The
iniications are multiplying on all sides that the
Republican Party stands alone as the champion
of honest money, and alone deserves the support
of all who would defend that cause strenuously
and with a whole heart.
The Importance attached by the convention to
| securing Republican control of the next House of
Representatives is fully justified BY the i'm min
ence and magnitude of the danger to which 1t