The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-09-25

uOnal Some Hard and Tell
Ing Financial and Other
Facts.
Napoleon, Ohio, Sept 2L-Hon. Frank q. Hurd
made his opening speech to crowded house last
evening. He received warm and enthusiastic
greeting. Although Congressionally divorced
from u.s. the people OF this county still regard him
as 'Our Frank" He spoke in substance as follows:
The financial issue has been for the last fe
years most prominent in the public mind. AS a
result OF the war we had paper currency not
at par with coin, Various views were enter
tained as 10 the policy and methods Of equali2ing
this currency with coin. AS result Of this dis
cussiOn, We have reached point where the
equality Of paper with specie has been ests blish
ed. This the Republican party calls resumption
and for 1t claims exclusive credit for itself. Re-
sumption OF specie payment is not merely the re-
demption Of the gTeenback. 1t is the adaptation
Of the business of the country to the coin basis
Manifestly, therefore, resumption is matter to
be settled by the business Of the country aud not
by political parties merely.
Whatever OF resumption has been accomplish
ed, has been through the business of the land,
not through the Republican party. That oTganl
cation claims credit upon this point because of
the passage and enforcement of the Resumption
Act This law, as declared by the 81. Louis Con-
vention, did not help resumption, but was hin
dranCe to II, as is clear from the fact that the
practical equivslency Of paper with coin was
established months before the first Of Janu-
sry, 1879, Resumption being matter for the bu-
siness Of The country to determine, 1t could not
be accomplished until the business Of the coun
try was ready for It, The only effect, consequent
ly Of fixing day for business to resume was to
embarrass the very resumption II was intended TO
accomplish AZ in the case Of an individual in
debt, 80 with multitude Of individuals, or with
the country.
The payment Of obligations or redemption Of
paper can come only through the practice Of
economy and the increase OF wealth. ReSump-
tLoD OfspeCie payment, therefore, In this country
could have transpired only through economy in
the administration Of public affairs and the the
vast increase IN our National wealth. For the
first the Democratic party Is entitled to the credit
for the second Providence. Never have such
crops been seen as have for the last two years re
warded the tiller Of the land, The failure of the
crops abroad has kept up the price Of our cereals,
Notwithstanding the Unprecedented supply at
into our lap and all business has felt its revivinR
touch. The equivaleDcy Of paper with coin Ia
not the result Of legislation or statesmanship at
Washington, but Of the Diplomacy OF the harvest
fields, the statesmanship OF the plow, the legsla-
ton Of the farmer.
The question OF resumption being settled. the
practical results Of which no party could be 90
foolish as to wish to disturb, there are left only
two important questions OF finance TO be determ.
ined. First, the reconciliation Of silver. The
surreptitious demonetization Of that metal was a
crime against the public debtor, who had by the
terms OF the original contract the right to pay the
bonded Indebtedness In silver as well as In gold
The fact OF the depreciation OF the former metal
did not In the least change the legal or moral as
poets OF the case. Besides, such decentralization
unfairly dlscriminRted against tie production Of
silver In this country by destroying Its use as
money, the chief purpose to which II had hereto
fore been applied The only reparation that can
be made the people for this outrage is the full re-
mOnetZatiOn of silver that the contract between
the public debtor and creditor may stand upon
The same basis as that on which 1t was placed by
the original contract. .-.
The other financial question remaining ia that
which grows out OF the existence of the National
Banking system. There should be but one Opin.
ion among Democrats upon this subject, The
greatest successes the party has achieved are
those that followed iR struggle with the system
In the days OF Andrew Jackson. The law Great
Ing National Banks is clearly unconstitutional.
The banking power was not delegated to the
General Government In the Constitution There
is no more authority In Cong ess to establish
bank than to create any other private corpor
alton. The present National Banking system ia
Objectionable besides because II constitutes q
class interested In the perpetuity Of the public
debt, the evidences Of which are made the basis
OF the bank circulation In ADDITION, the law
creating these Institutions enables the wealth Of
the country to easily consolidate and manage Its
capital for the control OF legislation and Of elec.
tions While the National Bank system Ia OBJ
jectionable, It's immediate repeal would compel
the closing up Of these institutions and oouse.
quently the calling in Of the large amount OF
money loaned to individuals. This would seri
Ously II not fatally embarrass the business of
the country. The D5mOCratlG party, therefore
propose no reehartering Of National Banks, and
such gradual substitution OF Treas Try notes for
bank notes as will neither impair vested rights
nor embarrass the business Of the country
Mr. Hurd briefly epitOmized the positions Of the
three Iarties as follows The National party pro.
poses an exclusive Government paper currency
0aesd upon the credit Of the people: the Renubli.
can party fAvors currency of National BAuk
notes, convertible into gold. the dearest meial
The Democratic party advocates paper ourren-
cy Issued under Governmental authiri alone
and under such regulations as will enable II al.
way9 to circulate at par with gold and silver.
Whatever experience has approved as money
The Democratic party will employ The lessons
Of eivISation It proposes to heed, and It never
VIII consent that one OF the chief elements Of cir.
culatton should be taken away. Every source OF
currency shall be drawn upon. rhe arteries Of
trade shall be kept ful-nO staVnatiOn, no death,
Dut iull ana hearty pulsatlon In every part OF
the body politc-that perfect health may be the
result. .'.U
Mr. Hurd then proceeded to discuss the issues
presented BY the legislation of the extra session
He maintained that the House Of Represent, It YES
bad the power to determine the methods OF ex.
pending the money appropriated hy bills which
II alone could originate He showed fr I'm Eng
lish history and from the debates in the Conven
tons OF the States adopting the Constitution that
the provision that the House alone be permitted
to originate billt NJ revenue was designed as q
restriction upon Executive authority He showed
most oonclutively tnat there was no such thing
as National election, and no such person az a
National voter. He claimed, therefore, that the
| appointment Of Federal Supervisors to interfere
with State elections aud State voters was unau.
thOrized by the Constitution, audeEigned bv the
Republican party to prevent naturalized citizens
from voting In the great cities of the country,
He denounced the prov sion Of the law that au.
thnrized troops at the polls and showed from his
tory that Republ CO which had fallen had per
ished from militarv interference He considered
the attempted reptiles Of the Republican parry TO
Democratic arguments, aud showed that when
reduced to their last analysis they meant hate Of
the South.
Mr.. Hurdclosed by ulging that the people Of
Lne South should be- treated as citizens and
IIienos, and they would prove themselves good
cluzens and friends. His closing Temsrke In be.
haii OF Impartial jurleS unbiased by test Oaths,
@ @SD1 not dictated by clerks and marshals and In
M pshalL ~ oI tnat peace which would restore Rrmo
most eloquent. 'N'N
Mr. Hurd Will speak In saudusky Thursday,
rssept, EoIn, ana after that time will speak every
uSy III o1laWa' sandusKy and Lucas counties