The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1878-08-28
Senator Thurman Speaks.

/
man addressed meeting here this after
| noon, on the issues of the campaign. He
said:
| have seen several statements in the
public press TO the effect that the object OF
my appointment to address you to-day was
| that l seould "sOund the keynote of the
campaign" | wish, in The very outset of
my remarks, to disclaim any such preten-
ton. Under free institutions, it is for the
| people to give the keynote; and, so far as
| the Democracy of Ohio are concerned, they
| have discharged that duty in the platform
| adopted by our State Convention. | stand
| squarely on that platform. | have advOca
| ted its principles heretofore and L shall con
| tinue to advocate them. Perhaps this is ali
| should say about myself; but, inasmuch
| as, in certain quarters, l am denounced as
| III n who has surrendered his convictions to
| appeaSe popular cIamor, it may be par
dOnable in me To occupy few moments in
repelling this charge. The accusation has
| reference to my support of the financial
| plank in the platform. Now, what is this
| financial plank? 1t condemns contraction
OF the currency; demands the repeal of the
| resumption act; advocates the removal of
| all restrictions to the coinage of silver and
| the re-establishment of silver as money
| metal, the same as gold-the same as before
| its fraudulent demonstration; the gradual
| substitution of United States legal-tender
paper for national bank notes ana its perm
| anent establishment as the sole paper mon
y,
| dues to the Government and of equal ten
| der with coin, the amount of such issues to
| be so regulated by legislation or organic
law as TO give the people assurance OF
| stability in the volume of the currency and
| the consequent stability of the value; no
| further increase in the bonded debt and no
| further sale of bonds tor the purchase of
! coin for resumption purposes, but the grad
| ual extinction of the public debt, rigid
! economy, the reduction of expenditures in
| oll hran M lt1l n ~ hliR al.I
| tariff for revenue only" These are the
| financial doctrines of the platform, aud now
| | confidently defy my critics, one and al, to
name any vote that have given during the
| nine years that | have sat in the Senate that
was Inconsistent with these principles. L
| have steadily opposed contraction ever
| since it was inaugurated. | spoke and
voted against the resumption act when it
! passed, and at the last session of Congress
voted for its repeal. ! worked hard to re-
| store silver to the place it held before its
| decentralization. Several years ago | drew
| a resolution for our State convention favor
| ing the gradual substitution OF grtenbacks
| for national bank notes, and that resolution
| iniudiciously amended, as L believe every
! one now admits, was passed by the conyen-
| ton, | was one of the first to propose in
| the Senate that greenbacks should be re-
! ceivable for custom duties, and at he last
! session | voted for the bill making them
| thus receivable. l have been the advocate
of a stable currency, and your platform de-
| SJdDlllBY.
| precious metals ought not TO be demOne
| tized, and the platform asserts the same
| doctrine. | have spoken and voted against
an increase OF our bonded debt. have adj
Vocated, to the best of my ability, strict
| economy, reduction of expenditures and
revenue tariff. My course, therefore, has
| been perfectly consistent with the plat
| form of our convention, as the journals and
| debates of the Senate will show. And beg
| leave to add that | have never given vote
/ in ba nj the a
| which exception was taken by the Democ-
racy OF Ohio. so far as l kno y or have ever
heard. Fellow -citz ems, | trust that | have
| not offended prOpriety or good taste by
making these few remarks about myself
| You are portion of my constituents, and
have right to know whether | have rep
resented you correctly or otherwise. If L
! have reputation worth preserving. 1t Is
tor your interest well as mine that iU
shall not be uni Justly furnished. But
enough upon this theme.
When the currency part of the platform
| is carefully ScrutiniZed. 1t will be found that
| its principal feature is the proposed SlbStl-
| tuition of greenbacks for national bank
| notes. | think that do them no injustice
when say that the leaders of the Republic
| can party are in favor of directly the oppO-
| site course--tha5 Is to say, they would re-
| tire all the greenbacks in order that their
places might be filled with national bank
/ notes. Let either course be taken and the
metallic money of the country remains the
same. Use either kind of paper and the
| amount of coin in actual circulation. apart
| from the small coins used for change, will
| be paratively small, SO lOrg as 81 and
| 81 and So notes are freely issued for such
notes always drive coin out OF circulation.
| And whenever conversion into coin Is prac-
ticable and desirable, it will be just as easy
| to convert greenbacks as to convert bank
notes. The question then is narrowed down
| to this, shall our paper money DE natlonal
bank notes or greenbacks? For several
| fbaf will hriA | think
that the latter are preferable.
| /. In the first place, a national bank cur
| rency means the indefinite perpetuatlon OF
the national debt. The national banks, so
| far as their circulation is concerned, are
| founded on that debt. 1t is the security for
their notes; and whenever the debt be paid
the banks must retire their circulation and
cease to issue notes. In order, therefore, tn
perpetuate their privilege OF issuing notes,
they must strive TO perpetuate the national
debt And you may rest assured that they
| will do so; and the influence of more than
two thousand such institutions, spread all
over the country, will be very powerful
indeed.
Now, | am not one of those who believe
that a national debt is national blessing. |
believe that the reverse of this is true, and
that such debt is a national curse. To say
nothing of its cOrrupting influences, Its
drain OF the resources of the people to pay
interest is fearfully oppressive, especially
| when large portion of the deot Is neId
IL
cannot be speedily paid, but We ought not
| to put unnecessary obstacles in the way of
its payment The national bank notes are
such an obstacle and for lat reason are OBJ
iectioLable. Your platform wisely advo-
| Gates othe gradual extinction of the public
debit It thus favors its honest payment
and opposes its indefinite perpetuation.
And in strict harmony with this principle.
it condemns bank note system that tends
to perpetuate it.
2. A second objection to the national bank
system is that il tends to com bine, cOncen-
trate and intensity the money power. |
shall indulge in no defamation against the
money power. / seek to excite no passion.
no prejudice. / wish 90 reason fairly, and
/ wish you to judge fairly, And do rea-
son fairly when say that in view of-the
undoubted fact that during the whole
period of the unlimited sway of the Re-
publican party the legislation of Congress
steadily favored the moneyed interest aud
; thereby greatly added to the burthens u
the people; that the purchasing power OF
! money has immensely increased while the
exchangeable or purchasing power OF
everything else has remained stationary or
has diminished; and In view Of the further
| fact that the national system c0niers special
| privileges upon the banks that no other In
sEifuti0ns and no Individuals enjoy; that 1t
combines more chan two Thousand institn-
: tfons now and, III peTpeEuated, may COM
and with q common interest to maintain
. | their power and pE0l0ng their privileges
thai these Institutions AEe scattered All owen