The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1878-12-12
The Ohio Plan.

The Ohio Plan.
In an article under the head of
"The Results of the Fall Elections"
the New York Freeman's Journal
ably discusses the Ohio financial plan.
We copy its article below:
"Accounting for defeats, is q prof
itless business. 1t is, Notwithstanding,
worth while to put on record how the
Democratic party has been defeated,
and, with it, the hopes of better times
for honest people so far affected by
politics. And politics affect deeply
the welfare of people, "a. pocket.
The "Ohio Plan," luminously set
forth by U. S. Senator Thurman, aud
U. S. Senator elect, Geo. II. Pendle-
ton, was matured programme for
preventing complications by an antag-
anism of labor with capital, of the
debtor with the creditor class, of in
dividuals, aud of States. Demagog-
ues, and Political Tramps, not seek
ing the common good, but, only, their
personal advancement, made them
selves, against this wise Financial
Plan, heads of q distinctive Greenback
party in Ohio. Thus Ohio, in the Oc-
tober election, saw q defeat of the
Democratic party. The detection of a
great many, politically idiots, to the
Greenback faction-some of whose
leaders were undoubtedly subsidised
by the Hayes-Sherman Administra-
tion of Federal Government, caused
the defeat, that otherwise could not
have been, of the Democratic party, in
Ohio. We regret it, very much. In
the Plan of the leading Statesmen of
Ohio. we see a solution of the tangle
existing, and certain to be exasperat-
ed, between the demands of Capital,
and of Labor. Newspapers owned, or
controlled, by heavy capitalists, are
not acting wisely for those that sup.
port them, though Capitalists think
otherwise-and are suffering, in con-
sequence of their short-sightedness.
The Ohio Plan is, 1st, that those
Vampires, National Bank Billie, max
ing double interest, that have been re.
deemable only in the United States
Green backs, shall be suppressed-and
United States Greenbacks issued in
their place-thus saving many mil.
lions of useless tribute to Bankers.
Second, that the GTeenback United
States paper shall be made good in it's
promises, that is, redeemed, in gold or
silver, on demand. Third, that silver
dollars, as gold, shall be counted mon
ey, to any amount, in payment of all
debts.
The reason for the Bill of r. NJ. T.
Hunter, United States Senator from
Virginia, passed into a la,o, in 1854,
no longer exists. We know a man,
and can produce him, who, in Janu-
arv, 1854, changed a quarter-eagle
($2.5O) in gold. for five, and ten-cent
pices, in silver, giving eight per cent.
premium for the silver change, at Col
gate s. Hoffman's, Specie Brokers, in
Wall street. 1t was for the relief Of
poor people, that Senator Hunter in
troduced his Bill, that became latO, for
debasing the silver coin, in fractions
of dollar.
Were but three Nation-the United
States, England, and France-to de-
clare siloer the only coin, or metal, in
which international exchanges could
be made-gold coin, would, inside of
sac months be at ten per- cent. discount.
Gold, and sslcer, are declared mon
ey in that old document, called the
Constitution of the United States. We
have got far away from that. We do
not care for the quarrels of Thomas
Jefferson with Alexander Hamilton,
nor for the quarrels of Clay and Web
ster with Andrew Jackson. We have
passed all those days, and conflicts.
And we are in very different circum-
stances, from the one period, or the
other.
But the fact remains, that in the
usual commerce of business men, in
these United States, gold and silver
have neUer been the medium of ex-
change. Paper checks on Banks, or
Bank paper-this or that Banks
promises to pay, used to be the COM
mon medium OF exchange, for every
thing over few dollars. Those Banks,
very often, broke-and everybody else
was the loser.
of the one practical idea, out of the
mass of rubbage, of United States Leg
islation for seventeen years. We have
not, and never can have again, the
same kind of Government we had be-
fore the war of 1S6l-1S65. Not till q
grass widow can become q virgin
Thomas Jefferson is dead. Andrew
Jackson is dead. The country we
live in, are other from what then dealt
with.
The "OAio Plan" recognizes that
the Federal Union Of States. by the
late war, has lapsed into a National
Government. This National Govern
ment went SO far, under Republican"
rule, as to declare Legal Tender, ''for
the people, a paper money not re-
deemable in specieI That was vile
act. The statesmen OF Ohio-the best
political leaders in the country-pro-
pose to redeem the credit of the Gov
ernment, by making this Greenback
paper money redeemable, in gold Or
silver, by the Government that issued
it.
The Ohio plan, wisely, objects to
Government having fixed a date, at
which 1t will begin to do thls-as, thus
offering splendid opportunity to
gambling capitalists to embarrass Fl.
nancial affairs. The Government is
in position to resume specie pays
ments ~ without making a parade
about it'll 1t is the parade, that, at
such date, it ,0iU resume, that disqui.
cts finance. Ii it be able to pay, as it
is, let it pay. But, except the Admin.
istration is in league with gold gam.
blers to bring about a crisis, why .fr
q date, to do what it can do, before
tho date flxedP
The day that the United States Gov
ernment declares it will redeem green
backs in gold, or silver equal with
gold-the fools are very few who will |
lug about, from bank to bank, thous-
and .1nlIara in silvor nr uoIl W. |