The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1878-02-28

ury to pay the certificates, and the resi-
due used TO redeem the hve-twenty
bonds. | was criticised by this gentle
man for using the words gold and COIN, as
synonymous in a public speech; yet, to
maintain his argument he asks that ii
be believed; that coin and gold coin are
loosely used in the same sense in differ
ent sections of one ofthe most important
laws of the United States. Gold Certif-
Gates were to issue only upon gold depos'
its, but in the second section the bonds
were to sell for coin, and in the first sec
tiOn they were to be redeemable in coin
of The present standard value. The solemn
assurance given by that law to the public
creditor was that the bonds issued under
1T should be redeemable in gold and sill.
vir, of the weight and hneness then fixed
by law Upon this subject have no
new opinions to express. In my letter
accepting the St. Louis nomination for
Vice President | said; "Gold and silver
are the real standard of value" Indeed
/ would rejoice if our supply of the prec'
ious metals were sufficient for the wants
of our trade and commerce., But we all
know that it is insufficient; and that we
may also have a paper currency, and
therefore / have opposed the policy of a
forced resumption of specie payments,
based upon contraction, by Withdrawing
the Treasury notes from circulation. The
Treasury note has been safe currency,
and the people have had confidence in it,
and have not asked for its redemption.
While it is a safe currency, it is also
cheap currency in the sense that it does
not represent an interest bearing obliga-
ton of the Government, In that respect
and in the respect that it is legal ten
der, it is better currency than the Ma
tional Bank note. Because of these
views, have urged the repeal not only
of the resumption clause, but also of the
provision that sought to substitute
bank notes for the outstanding Treasury
notes.
No higher duty rests upon the legisla-
ton of this country than the prompt and
final settlement of financial questionsup-
on right and permanent basis. From
the farm and the shop and the market
place there comes the earnest appeal for
final decision that as far as we may be,
finances may be taken from politics, 30
that under stable adjustment conf
dence and prosperity may return to every
interest.
1 saw this morning that the House
Committee prepared bill, to be reported
to the House at once, of the greatest inn
portance. 1t is bill to provide, by AMI
pie machinery, the substitution OF Trea-
sury notes for the entire volume of out.
standing National Bank notes, Should
that bill become a law, for it's provisions
seem very reasonable, then there will be
in operation two influences which will
be felt by the business interests of this
country. The Silver Bill is to become a
law, and then every month, if Sherman
will obey the commands of Congress, the
silver will come out over the country and
through the channels of trade like the
red blood that goes through mans
yiens, giving him life and vitality. Then,
also, under the other bill will be the pro-
cess of substituting Treasury notes for the
outstanding bank notes.
In all the discussions | have had upon
this subject l have sought to avoid any
reference to sectional division, and | shall
regret if upon the financial question and
interests of the country there shall come
to be a division of sentiment known as
sectional. Every sectional division is
hurttul to our country but the West has
interests that it must regard, and the
Western people, speak of the Demo-
Gratis and of large body of Republicans,
ought to have restoration of money, the
silver money of the country that we
ought to have repeal of the Resumption
Law. and that we ought to have substi-
tuition of Treasury notes for bank notes.
The West stands upon this demand, and
it ought to be accepted by all sections OF
the country. This is Convention, re-
peat, of great importance. What you do
to-day l think will be ratified in the
State of Indiana in October by larger
vote than it has done in the Democratic
victories for many years, and perhaps
than ever before in the State. You owe
it to the people to select your ticket with
great care, so it will command the ap'
proval of their judgment, and the public
service will be safe in the hands of the
men you select, for they will be elected,
Gentlemen of the Convention, you will
this day inaugurate a political contest
of great interest. You and | believe that
the result will affect the interests of the
people in a high degree, both in respect
to the public service and to individual
prosperity. Will you allow me to say
that while we will maintain the contest
with determination and firmness until we
achieve success we will do 30 in tie spir-
it of kindness, courtesy and respect to-
ward those who differ with us. You and
l know that thousands of good citizens
and sincere men are opposed to us; that
prejudice hangs like dark cloud be-
tween them and the Democratic party,so
that they cannot judge Of us correctly,
yet they are as sincere in their opinions
as we are. Let us set before our oppo-
nents an example worthy of imitation.
While we may not approach our oppo-
nents in respect to their political doc
trines and partisan purposes, may we not
come nearer to them in personal in per-
sonal attachment as fellow-Citizens ?
Again thank you for the honor you have
done me.
The delivery of this speech was fre-
quently interrupted with bursts Of ap-
plause, particularly when pointing out
the work for 1878; the need for new
State apportionment which will place
the Democracy upon an equal footing
with their political opponents; review
of the Louisiana question and the con-
viction of Anderson, and the argument
favoring the substitution of Treasury
notes for the National Bank bills. Upon
the conclusion he was honored with
three cheers.