The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-07-31

ton, and to oppose the renewal OF lts
charter under Madison, and which led
sold Hickory" to make his grand and
successful fight against the recharter OF
the bank.
Aside from this reason of giving pri'
yate corporations control over the vol.
ume of currency, tits to be bornein mind
that the substitution of legal tender
Treasury notes for bank notes will, even
since refunding, save to the people at
least $40 100000 year, With the Trea.
snry notes so issued in place OF National
Bank notes. United States bonds can be
bought in the market and Cancelled, and
the interest thereby stopped; while the
Government will lose nothing whatever
in taxes by such substitution, except the
| per cent on circulation, that being the
only tax National Banks pay that is not
paid by other banks Of deposit, discount
and exchange.
Had the Republican party desired to
diminish as rapidly as possible the pub
lie debt, it would when the war ended,
have prohibited the incorporation Of any
more banks of issue, and gradually sub
stituted Treasury notes for bank notes,
the power to make such substitution
having been reserved in the National
Bank Law. If they had thus promptly
given The people an exclusive Govern
ment currency in place of bank notes,
our bonded debt would now be at least
$500 900 900 less than it is. No reason
which will bear moments considera-
ton, can be given why this should not
have been done. Nobody pretends that
the greenback which redeems the Ma
tional Bank note is not better than the
thing it redeemc. There is but one rea-
son why it failed to thus reduce the
debt, and that is, that these two thousand
National Banks gre needed by the party
as break-water against the people.
Hence, since the close of the war the
people have been practically robbed of
about 100000, 900 to prevent them exer.
cising their free choice Of their own SER
wants.
Another bad feature of the National
Bank system, is that its perpetustion
makes necessary the perpetuation Of the
public debt, because bank notes are So
cured only by the bonds of the United
States. Any reduction of the bonds out
standing retrenChes ON the means Of ex'
pansion ofthesystem, while the payment
of the whole debt would destroy it.
Hence the Republican party, as the faith.
full servant OF the money power, has
shown no eagerness to reduce the debt,
but alacrity to increase it; while on the
other hand the interest OF the people de-
mands, in the language of the Ohio Dem.
ocratic platform, "that the further in.
crease ofthe bonded debtin time Of peace
be stopped, and that it be put in process
of extinction"
l have thus hnrriedly discussed the
claims made by the Republican party in
behalf of its financial measures, and the
position taken by the Ohio Democracy
in its latest platform respecting them. I
am quite willing to submit to the decis-
ion of the people on these issues. am
sure that an Overwhelming majority of
the voters of Ohio think the Republican
should be expelled from power; that JUS
tice and sound policy demand the resto-
ration of the silver dollar to it's old equal
ity with gold as money metal; that the
General Government should issue all
the currency, whether paper or metallic;
and that our great national debt not be
increased, but as coon as practicable it
be paid off according to the letter and
spirit of the contract. The Democratic
party of Ohio, and five.sixths of that
party throughout the Republicstand uni
ted on these propositions, while the Re.
publican party stands solid against them.
Now, why should the men of Ohio,
who agree on these fundamental meas
ures Of relief, divide into two parties and
thus defeat themp can't vote the Dem
ocratic ticket says A, because it don't de-
clare for an income tax. won't vote it,
says B, because it don't favor an inCreas-
ed volume of paper money. And shan't
says G, because it don't declare that the
legsl-tenders issued in place of bank
notes shall be redeemed in coin. But
these gentlemen admit and recognize
the great Importance of the three great
financial propositions which the platform
does declare, and admit that. these three
deserve to be made the
prime and immediate objects of effort.
Is it not, therefore, the part Of wisdom to
drop or postpone the less exigent ques-
tions on which we differ, and win de.
cisive victory on the great instant issues
on which we agreeP
The question of free elections has as.
sumed prominence never before Civ
en- it, although the statutes out Of which |
it arises have long been in force, and the
Democracy have heretofore repeatedly |
attempted to repeal them. l may as
we'll tell you plainly why the Democracy
forced the issue now, though only six !!
members of Congress are to be elected
this year. The people were cheated out
of their choice for President in 1875.
That fraud was accomplished by the au-
dacious and revolutionary threat Of the
leaders of the Republican party, that
when the election returns came to be !
the Senate and House of Rep.
should not count them as
by the Constitution. and
practiced since the foundation of our
Government, but that Mr.. Ferry Of Mich.
who happened to be President pro TEN.
pore of the Senate, should himself exer.
else the power of determining all ques.
lions arising in the count. This threat,
backed up by President Grant with
show Of bringing troops to Washington
and sending iron.Clads to New York,
was successful in accomplishing the fraud
by the indirect method of the Eightto.
Seven Commission. Itneeded no gift of
prophecy to tell that party which was
ready to Disregard the Constitution and
all precedents in ascertalning the result
1f Presidential election in 1875, would
resort to any measure, however unjust
,r violent, to win second victory in 80.
The army had been used to terrorize vo.
ters at the South, and pack and disperse
Legislatures. Why would it not be used
again if the law permitting this use re.
NAMED on the statute books? Supervis-
ors and Marshsls have been appointed
BY thousands at each Congressional cleo
ion in the large cities, made up chiefly
- ht,Y onI .,sI a,.k - kha tnuhlt, |