The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1879-01-16

ell either to another suspension Of
specie payments or to contraction so
rapid and SO great hat no people, ,how-
ever long suffering, have been willing
to endure. Ii is the part of wisdom
to foresee and to provide for the emer-
gency. | appeal to every candid man
III would appeal to Secretary Sher-
man himself withentire-c e-confidencef for
the accuracy of this statement. And
If the statement is true what becomes
of the bOasted perfection of this finan-
clal system? No perfect financial sys-
tenn has yet been devised Certainly
that system is radically defective
which, according to Secretary Sher-
man, is essential to prosperity, and
even to honesty. and yet, according to
the statement of his annual report, "ls
pyOvee by the experience of many ma
tions. to be impossible in. periods Of
great temeryency." 1t is soleclism TO
say; that specie payments are essential
to prosperity and honesty, and yet
are impossible.
Let me illustrate The Secretary Of
the Treasury says that 40 per cent. of
coin as compared with paper is neces-
sary to maintain specie payments. The
greenbacks, amount to $346, 900 OOO;
the necessary coin amounts to $685..
600, 1000 the total coin and greenbacks
are $4S4, 100000. If the coin should
be in any way diminished $40, ,OOOOOO,
the paper would have to be reduced
Immediately 100000, 900, and the cur.
rency would fall to $344, 100000. II is
mere mockery to: tell us in the same
breath that we mast have q steady,
stable, honest currency, and that we
must have this system. 1t is mere
mockery to tell US that system is sound
in which ordinary foreign exigencies
may drive US to sacrifice either the
quantity or quality to preserve the
other.
The Ohio Idea is not confihed to the
currency alone. 1t embraces economy
in administration, tariff for revenue
alone, devotion to the Constitution
and the amendments. rigid adherence
to the doctrine that all powers not
granted to Congress are reserved to
the people and the States. 1t embraces
the doctrine Of the equality of rights
of all citizens before the law, and that
other doctrine still more important of
the equal and absolute protection of
all citizens in all their civil and pOlit-
ical rights. 1t inculcates and enforces
that the right of suffrage is the basis
of republican government-the vita!
breath of its continued ife-and that
its free enjoyment without hindrance.
or reetraint, or molestation. or inter-
ference, must be assured to every citi-
zen of every race in every part of the
Republic. This right of suffrage must
be maintained in the States by all the
power of the State, because it is es-
sential to republican autonomy. 1t
must be sustained as to Federal Gov
ernment, if necessary, because it is es-
sential to that distribution of political
power, which is the basis of the Con-
stitutional Union.
The Ohio Idea embraces also firm,
unfaltering adherence to the princi-
Piles, the traditions, the organization
of the Democratic party as the sound
est expounder Of correct doctrine, as
the safest depository of political pow
er, as the surest agent of good admin
istration and progressive reforms.
And lastly, if you will let me whis.
per it to you as in the sacredness of a
love feast, SO that the reporters will
not publish it, and the Republicans
shall not hear il, and no mans mod
esty shall be shocked as if itapplied
only to himself.--the Ohio idea is, that
Ohio Democrats, upholding its pr:n-
ciples, enforcing its doctrines and per-
suading to its support, can worthily
fill all the high places of power and
honor which have been confided to
Ohio Republicans.