The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-11-21
DEFERRED MATTE
Democratic Embarrassments.


what dumb-founded the Democratic head
lights. The Dispatch, particularly, in its is
sue of the 9th, INDUCES in column of re-
timing and delicate adjusting of policies
which clearly indicate its utter dependency
and the almost total surrender of all hope
for the future. In its effort to extract some
little comfort from the probabilities to come,
it endeavors to smooth over the rough
places in The record recently made by prom
inent Democratic leaders on the greenback
question, and assumes that Messrs. Thurman
and Hendricks have not forfeited the con-
fidence OF the friends of honest money, aud
that even Alessrs. VOORHEES, and Ewing are
within the pale of possibilities. In seeking
to relieve these gentlemen of the odium
which attaches to the shattered greenback
column. the Dispatch defends itself, and
this will account for its nice edging to get
out OF the surrounding difficulties. Mr..
Thurman, it claims, has gone no further
than to suggest the gradual and indefinite,
as to time, substitution of graenback for ma
has done nothing to ''blur his record as a
hard money man." 1t was not kind in the
Dtsp0tch to associate the name of Senator
Bayard with these gentlemen, for there is
nothing in his ''record'' on the finance ques
ton that iustiiies it. 1t was proper, how
eyer, to bring in Voorhees, and Ewing, and
give to them the same withdrawing it has
furnished for MeSsrs. Thurman and Hen
bricks, for when their views are boiled down
there is very little difference between them.
Taking Mr.. Thurman as the most moder-
ate of all the Democratic leaders, save Mr..
Bayard, and we find his propositions con-
template a positive revolution in our finan-
cial system, inasmuch as he favors the re-
peal of the resumption act and the nation
al bank law. To these lie has sQuarely
committed himself, and il he should have
to, as he will, abandon his opposition to the
resumption act, when resumption shall have
been consummated, it is recognized As Il
fact that the destruction of the national
banks and the substitution of greenback
currency for their circulation, will consti-
tate the policy upon which he will claim the
support of bis party in the next Presiden-
tial contest. If he should modify his views
on these questions, he will have nothing left
him with which to formulate a PLATFORM
The military has been withdrawn from the
South. and that gun is spiked. Resumption
will have been accomplished, the financial
policy of the country settled, aud business
resumed actively and healtfily. So there
will be nothing upon which an appeal to the
country for change can be based, ualess it
be the destruction of the national banks
Reform and Fraud, have been worn
threa1bare, nasmucl as for four years the
Democratic Congress has been housing in
to every pigeon hole and dusty folio of the
departments for some evidence of wroIg-
doing, without any results to Justify their
expectations. And so Improbable has been
the hunt after frauds, developing only Dem
ocratic misdeeds, and eliminating in the
huge boomerang of the Potter investigation,
that we will hear of no more Democra tie
Committees for that purpose, nor will the
air resound with the blather and fustian
about Reform and Fraud from Demo-
cratic orators and organs.
The only thing left for the Democracy to
assai is the National Banks. Will the peo-
pie of the coudtry sympathize with an as
sault upon a system which gives to them
these banking institutions We think not.
By them we are furnished with the best
currency we have ever had, infinitely pre-
ferable to the greenbacks. in the fact that
they are removed from political influence,
and cannot enter into the discussions and
contests Of each recurring Congressional
election. For this simple reason we believe
it will he the duty of the Republican party
to defend and support the national bank
system. and demand the retiring OF every
greenback now in circulation, as soon as
confidence has been restored to business. ard
the people have been educated to a proper
understanding of the subject. The nation
al banks are private institutions, based upon
private capital, aud for the benefit and use
Of private business-the government only
interfering 10 provide that the people shall
be protected in the currency issued. Their
issues differ from the greenbacks. in that the
latter would be an clement of biennial az
itation, and the disturbance Of business re-
lations and calculations, in the degree that
parties would alternate in the control of
Congress. The safety OF business, Uniform
ty of values. and stability of the medium
OF exchange, demand that the financial sys-
tenn of the government shall be steadfast
and not be dependent for It's character upon
the varying fortunes OF parties. Tothis end
greenbacks should be redeemed and retired as
soon at the business OF the country can be
adjusted to this policy, and the sole paper
currency OF the country be constituted of
national bank notes. secured as they now
are, and representing the individual accu-
mutations or private enterprise and sagacity
of the country.
The verdict rendered by the people of the
Eastern and Western States on Tuesday,
the 9TH inst, meant the financial policy OF
the Government had to be left alone. and
that to do this, the Democratic party had to
be kept out of power. Its success would be
followed by universal doubt, distrust and
business arrangement, and as the country
is about resuming healthy business con-
dition. the business interests of the nation
have been aroused to the Importance OF sus-
tanning the party and the policy which have
been instrumental in this consummation.
If the Dispatch could get over its preju-
dice to the name of Republican, as asso-
ciated with party, we might expect to see it
in accord with the Republican party in 1880,
and in support of the present financial pol
icy of the government. The exercise of a
little courage will relieve it of the embar-
raising and unpleasant labor of trying to
reconcile Democratic leaders with that sys-
lem of finance, in the operation of which
he success of the business interests of the
country is involved. They have committed
themselves sainst it, and no balancing of |
or confusion Of ideas can disasso- |
late them from the record they have made. |
)ur esteemed contemporary must surrender |