The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-08-14
THE OHIO CAMP AIGN.
GREAT spEHGCH BY SENATOR THUR
MAN AT HAMILTON YESTERDAY.
IA WasterEy Exposition III tHse Financial
AFraaEusm erat ssf the HgepMhlt-
can asrty-FfauduieWt Haycs-Seot5en-
aIERtns
Especial to the Democrat.l

lSpseta to the DemocTatl
HAMILTON, o., Aug. a3.-Senator Thr7nan
opened his canvass of the State in this city
to-day. His speech was q magnificent effort
and effectually dsposes Of the charges of in
consistency brought against him by the
smoney-power' organs of the East.
In opening his speech he expressly denied
that he had any intention of sounding t..the
KEY note of the campaign" declaring that
1lnkier free institutions, II was for the people
to:give key notes, and that the Democracy OF
Ohio had fully discharged that duty In the
enunciation of principles contained in the
platform adopted by the recent State conven-
stion.
He said: II stand suuarely upon that plat
form. | have advocated its principles hereto
fore and shall continue to advocate them.
Perhaps this is all | should say about myself;
but. lDaamuch as, in certain quarters, AIN
denounced us q man who has surrendered his
convictions to appease d popular clamor, it
may be pardonable In me to occupy a few mo-
fnefts in repelling this charge, which relates
to my support OF the financial plank of the
platform"
THE PLATFORM.
This plank condemns contraction, demands
the repeal OF the resumption act: advocates
the removal of all the restrictions to the coin
age of silver, and the re-establishment of sil-
yer as d money metal. the same as gold-the
same aS 1t WINS before it's fraudulent demone-
lization. the gradual substitution of United
States legal tender paper for national bank
notes, and It's permanent establishment as
the sole paper money OF the country made
receivable for all dues to the government
and Of equal tender with con--the amount Of
such issues TO be SO regulated by Legislation
or organic law, as to give the people assur-
aFlee of stability in the volume Of currency
and the consequent stability Of values; no
NaaSeSF Fnr n bn Hptt nd
Further sale OF bonds for the purchase OF coin
& for resumption purposes, but the gradual ex-
tinction Of the public debt, rigid economy, the
reduction of expenditures IN al branches Of
the public service. and u tariff for revenue
only.
THE BpEAKER's RECORD--CRITrCs DEFTED.
defy my critics, one and all. to name any
vote have given in nine years service In the
Senate inconsistent with these principles.
have steadily opposed contraction; fought the
resumption act and voted for its repeal;
worked hard for the remonetization of silver;
drew several years ago resolution favorng
the gradual substitution OF greenbacks for
national bank notes, which, .iniudiciously
amended was as adoPted, f by our State oonven
greenbaeks receivable for customs dues, and
voted at the last session for the bill making
them thus receivable; / have advocated a
stable currency. whieh la . your platform de-
should not be demonetized, which is the doc
hrir1e asserted In your platform; have OPP
Iaosed any increase m Of the bonded debt, and
1 and a revenue tariff Thus have been
nm r,ar aT consistent with our PLATFORM as the
MA dev. journal will prove and SO far as. [
Jruagist. have never given vote to which the
ie23 sm9mocracy has taken exception.
v,rxrx- THE CURRENCY PLANK.
ENsul scrutiny will show that the princi-
.ture OF the currency plank is the pro-
3y g;th rfpHDhaPISS for
notes. The Republican leaders favor a
rATCkly opposite course-the replacing of
with national bank notes. In
lease the metallic currency remains the
II In either case the amount of actually
Atating coin- apart from subsidiary coin
ehange-will be comparatively small
Ss z Atste nd FIVE dollar notes are freely Is
u, such notes always driving coin out OF
gulation. And, as it will be just as easy
enever conversion into coin is practicable
i'd ddesirable-to convert greenbacks as na-
= onal bank notes, the question Is narrowed
4 - regards our paper money-to
GOVERNMENT NOTES VS.. BANK NOTES.
Tor several reasons regard the former as
preferable.
definite perpetuation Of the national debt;
that currency Is founded upon the debtor
the debt is the security for their issues, and
shen the debt is paid, those issues must be
finally retired, the privilege Of reissue ceas-
must perpetuate the debt, and they will inevi-
tahiy do so il they can and the influence ex-
erted by more than two thousand banking in
situations, concentrated on one point, will be
exceeding powerful.
do not believe that q national debt Is a
national blessing; / believe it to be a national
curse Aside from its corrupting influences,
the drain upon the peoples resources to- pay
portion of the debt is held abroad. In q short
time the interest payments exceed the debt
principal with no cessation OF the drain.
Heavy taxation results necessarily, and op-
industry and prosperity. 1t is true we can
not at once or speedily pay the debt, but we
ought not to place obstacles In the way OF its
payment. National bank notes are an OBJ
form advocates. gradual extinction OF the
public debt, ",and thus favoring, it's honest
nSynent, necessarily condemns the bank note
system. which tends to perpetuate it,
CONCENTRATION OF THE MONEY POWER.
d The national bank system tends to COM
bine, concentrate and intensity the money
power. Against this power I shall bring no
Reclamation; seek not to excite passion or
prejudice, but to reason fairly and have
YOU to Judge fairly; and do SO reason
when { say that the Republican party,
favored In Its national legislation the moneyed
fntarast, thereby adding greatly to the peo-
pless burdens; that the purchasing power of
money has greatly Increased, while that OF
crown less: that the national bank system
Gonfers special and exclusive privileges upon
the banks; that it combines more than two
thousand institutions sand their number Is |
constantly inereaSiRg-in q common purpose, |
and with q common interest to perpetuate
their power and privileges; that these inst-
1ntions are scattered all over the country. |
and are thus enabled to influence Legisla~ |
lures, Congresses and thousands Cd voters; and
that, in view of these facts, it is no injustice
but The expression of q wise anxiety. to sug-
ges5 that such a system is fraught with dam
Sarty gI Il Of Of their goVsrnment mt IN the @ time
Of Jackson a national bank with S35 061, GOO Of
capital, and only a few branches, was danger
olis, what shall be said OF a combination Of
banks, with ramifcations in every section OF
the country, welding to-day S500,00o,o90 Of
capital, and destined, ifperpetuated. to null
Siply vastly in number and control thousands
81 nil lliuns