Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-09-23
THE RECORDS OF TIE PARTIES.

The comparison of the past records of the
two parties instituted by Mr.. Pendleton in
his Edenton speech is worthy of attention,
Tor it presents two distinct policies in jux-
opposition SO that even the most ignorant
can discern which was right aud which was
wrong. The comparison is SO manifestly
fair one that even the most extreme Repub-
Leans can find no fault with the position in
which his party is placed, though he may
find fault with the deductions drawn. But
these are logical, and cannot be evaded BY
any sophistry whatever.
On the currency question the records of
the two parties are before the public. The
issue of greenbacks was thought by the
Democrats to be unconstitutional and illegal
for the reason that they were redeemab!e
in no form of currency and at no
time. They were not demand notes.:
were not receivable for customs, for interest
on the public debt, nor yet for its principal.
The first issue of bonds, however, we're ex-
changeable for greenbacks, but by dint of the
agencies most employed by capitalists the
law in this regard was changed, and the
bonds were made payable in gold alone, and
a pledge was exacted from Congress that the
Issue of greenbacks should never exceed four
hundred millions of dollars. The Demo-
Gratis sought to increase the value OF the
greenbacks by making them receivable for
duties on customs, and for both the interest
and principal of the public debt, but we're
denounced as seeking to repudiate the obi
cations of the government. But it was the
Republicans who were the regulators. They
directly and distinctly repudiated the green
backs-the money of the people-which
had been accepted by the coun-
try in the full confidence that
the promise to redeem them would be full
filled. The Republicans insisted that paper
money was good enough for the common
people, but that gold was the due of the
bondholder. The Democrats declared that
there should be but one currency for the la
borer and the bondholder-that if green
backs were paid to the workingman for his
labor, the same currency should be paid to
INC CapltallSt Tor his bonds.
Soon after the war, when our revenue was
large and easily collected, besides being
largely in excess of the legitimate require
ments of the government, the Democrats
wanted the debt paid that the interest obi
cations might be removed from the burdens
Of the taxpayers. This policy was opposed
by the Republicans, and instead of BEING
reduced the debt was increased throupb
the refunding operations. Finally, after in
finite labor the greenback has nominally
been placed on par with gold. But can
gold be obtained for greenbacks? PERHAPS
so; but only by few who have large sums
which they desire to exchange, and can af-
ford to pay the expense Of transportation to
New York. The Democratic party has
labored for the reconciliation of silver, but
it is not remonetized. It is paid ont at par
by the treasury, but the treasury refuses to
receive it in payment of dues, the postofice
refuses it, and the banks refuse it except az
special deposit, to be paid back in kind.
Gold can be obtained only by the greatest
difficulty, and resumption thus far is farce.
The only desirable features Of our present
monetary system have been suggested and
brought about by the Democratic party, and
the Republicans are deserving of no credit
for it whatever.
This, then, is the record of the two par
ties on the financial question. Can any one
doubt as to which has boon the most cor
rect, and dictated by the highest patriotism !?
Resumption, such as We have. was brought
about by two causes: One the remonetiza-
ton of silver to q limited extent-a Demo-
cratic measure carried in opposition to the