The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-09-25
THE INDIANA DEMOCRACY ON THE
FINANCIAL QUESTIONS


THE INDIANA DEMOCRACY ON THE
FINANCIAL QUESTIONS.
1t is held by great many people whose
opinions ere entitled to consideration that
the financial issues of the campaign are of
supreme Importance and take precedence
combat this position. On the contrary, there
are many cogent reasons well calculated to
impress the public mind with the lmpor-
| lance of bringing financial questions to the
front and Of giving them special prominence
in the campaign. Evidently this was the
view taken of the subject by the democrats
of Indiana when they met in council in Feb
ruary last, for they first declored in the plat
form upon which the campaign is being con-
Quoted.
That national bank notes shall be retired,
and in lieu thereof there shall be issued by the
government an equal amount OF treasury
notes with full legal tender quality.
That we are in favor of making the United
States notes, commonly called green backs, a
full legal tender in payment of all debts, pub
lie and private, except such obligations only
az are by the terms of the original contracts
able in coin.
That the right to- issue paper money as well
as coin is the exclusive prerogative of the
sued in such amounts as the sound business
interests of the country may ircm time to time
re5I n ore i, favor q, srcn ,e0,s,at,or nv con-
gresS as will authorize the taxation by the
states of the United States notes in common
with all other money.
Nothing more concise has been put forth
upon financial questions in any platform by
any party in any of the states. The position
taken by the Indiana democracy is absolute
ly invulnerable. No radical organ, stump
orator or candidate has attacked it. Its wis
dom is confessed. 1t is free from alb ambi-
guilty. 1t is outspoken and explicit. 1t is
worthy OF remark that the Indiana democracy
stand squsrely on the platform. 1t is not
for initiation in any Objectionable sense; if it
were the Shylock organs would find the vul-
nerable point and bombardit. The platform
does not favor, nor ever hint at, reputation.
II it did, the people would hear about il.
The democracy of Indiana recognize the
\ importance Of having gold, silver and paper
money, and enough of it, to NEE. the Sound
/ business interests of the country" The
! Detroit Free Press, rated as a "haId money"
democratic paper, is of the opinion that
neither platforms nor the utterances of
/ leaders are sufficient to cover all financial
| points where they are intended to do So"
but in the case of the Indiana platform the
/ Free Press will find an exception. 1t
! covers all the points" and each point is a
citadel in strength, SO formidable IN its
repelling power that neither radicals nor
nationals have thought proper to attack any
OF them. In commenting upon current
misapprehensions of the positions of demo.
Gratis upon the subject of money, the Free
Press says:
Nobody, perhaps, has been subjected 10 more
4 of tn misapprehension than the "hard
i money" democrats, so called. In the common
/ speech of those who disagree with him, or pro-
fess To, the "hard money democrat Is held up
| as the bitter and uncompromising foe of paper
money in every form, except, perhaps, the
form of national bank notes; and the very
fact of his assumed willingness TO except the
latter from the general condemnation is re
garded as an aggravation of the hardness
ther from the truth. There NAV be m some
/ hidden quarter of the continent democrat
who doesn't believe IN the use of paper money
or any money but coin; but II there is he is a
curiosity and should be exhibited as such.
| The hardest kind of hard money democrats
that we know anything Ing about or ever heard heard
| exclusively of specie would be about as incon-
venient a currency as could well be devised.
| They believe very thoroughly I'm paper 10 oney
and plenty of il for all the purposes of trade
commerce, and business of all kinds. They
I believe. moreover, in having the best paper
money that can possibly be procured-paper
money that will be worth one hundred cents
! on the dollar every day in the week and every
| month in the year.
The wisdom of retiring the national bank
bills and substituting therefor greenbacks is
being very generally admitted and even
John Sherman, the perjury rewardizg secre-
tary of the treasury-deep-dyed villain that
he is-recognizss the uprising OF the people
in opposition to his con traction, bankrupt
| ing policy. and now admits that he prefers
greenbacks to national bank bills The
democracy of Indiana demand sufficient
money to place the business of the country
on sound basis. Now, what is that amount?
And how may it be approximately arrivedat?
According to radical authority, the country
had in circulation in 1865 81 651 5S2. 1913,
with population of 1919, 5s1, or $47.44 per
capita. In 1866 the currency reached ST.
sos, ZOE, 726 or $50.76 per capita. In 1877 the
currency had been contracted TO 1896. 443, 1874,
with population OF A, ia, 800, or $14 10 per
capita. This would give for IL years an ave.