New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-08-21
PRICE FOUR CENTS.
THE CAMPAIGN IN OHIO.
THREE NOTABLE SPEECHES.

| CIAL AND OTHER x-ATToRNHY-GRYE-
RAJ TAFT AT CLEVELAND on THE POWERS AND
DUTIES OF THE GENERAL GoyERNMENT-sEc-
RETARY sCHURZ At CINCINNATI on GENERAL
EwTNGs FINANCIAL HRRFsIEs.
Secretary Sherman spoke at Steubenville,
Ohio, yesterday. upon financial and other
issues. He defended the Resumption Act,
and declared that an improvement in every
branch of industry and trade has followed its
enforcement. The Democratic claims of econ
omy in National expenditures were exposed
and figures were given 10 show that the APP
preparations made have exceeded the esti-
mates. The National Bank and Silver ques-
tons were discussed and the speech was
closed with some remarks on the Southern
question aud the freedom of elections,
Ex-Attorney-General Taft spoke at Cleve-
land on the powers and duties of the General
Government. He held that the Government
has the power to preserve the purity OF
the ballot-box and protect the voter.
He declared that there had been no
abuse of the military power by tho
General Government, and arraigned the Demo-
cratic majority in Congress for its ererts to
prevent the enforcement of the laws. Secre-
tary Schurz, at Cincinnati, criticised the ilan-
clal neresleS OF General Ewing.
sHERMANS SPEECH AT sTEUBENVILLE.
RESUMPTION FOLLOWED BY INCREASED ACTIVITY
IN BUsINEss-THE NATIONAL BANK SYSTEM
HOW TO SETTLE THE SILVER QUEsnoN-A FEW
WORDS ABOUT THE SOLID SOUTH.
STEUBENvILLE, Ohio, Aug. 20.-The Hon. John
Sherman, Secretary of the Treasury spoke here to-
night the financial and other issues of the tines
He arrived here at $50 D. M. and was escorted to
his hotel by large number of people and a brass
band. At O'Clock he went to Garretps Hall. where,
after being introduced by Colonel John w. Holli-
day, he addressed audience Of over 900 per-
sons. Over the stage. which was decorated with
flowers and flags, was the motto; Ohio welcomes
the next President" General j. S. Robinson, Chair
man of the Republican State Executive Committee,
and General Samuel Carey, were present. The lat
ter will make a speech tomorrow night. Secretary
Sherman will speak at Mansfield tomorrow. Tho
leading features of his speech tonight given in
| the following extracts
Three parties present candidates TO the people Of Ohio
for the highest offices of the State IL will
sary or just for to araign the personal character
standing services OF either OF the candidates
either Of these tickets. They all respected citizens
and each would doubt, II elected, satisfactorily per-
form the duties OF the Office for which he is nominated
But the Issues involved far important than the
candidates. l assure you that upon the election in
Ohio depends questions OF public policy which touch
upon the framework Of Government and affect the
interests of every citizen OF the United STATES Tue
same old questions about which disputed before the
war, aud during the war, aud since the war; rs
clearly involved I'm this campaign as they were when
| Lincoln elected, when Grant was fighting lie
battles of his country in the Wilderness,
There are 1nancia questions involved in this
test The Republican party proposed. maintained and
executed the Resumption act as the best remedy for the
|
brought about the resumption oi specie payments.
BY its policy all forms of money equal to aud
deemabIe coin 1t has reduced the interest all tho
public debt that reedee mabe It has maintained and
advanced the public credit II nov declares It's purpose
hold fast TO what it has done, 70 keep and maintain
every dollar Of paper money ia circulation OF equal
value the best coin Issued from the MINT and soon
as poss bic 10 complete the OF reducing inter-
est on all the public debt to pee cent, or less.
Tie Greehback party no' only deuOunces al we have
unlimited amount Of rredeemGblc paper mOuey, 10 de-
sOy the sYstom OF rec National banks, aud TO call in
and pay of all the Unite States bonds with rroGeem-
able money The Democratic party Of OAo both ~ It's
platform and by IT, candidates supports more or less
all OF these dOgmas Tut II does SO not as natter or
principle, but tor political power Its main object Is by
any sort OF alliance on any real or pretended popular
gain strength enough Ia unie with the SOLID
OF The National Government the very sane docrines
that led to the Civil War, and the men who wagcd
against tie Union. To Obtain political power the DeGc
racy seek by party discipline 70 compel their members
to abandon the old and cherished principles OF their
party OF having sound currency redeemable IN coin.
For this, they overthrow Governor Bishop; FOR this
they propose 10 reopen an the wild and visionary
schemes o. iufltn that have been twice rejected by the
p ople OF OhiO.f
PARTY DIFFERENCES on FINANCIAL QUESTIONS
Now, the first difference between parties in financial
matters that it necessary notice. OF tine
period of hard times under which our country
has suffered; and the next Is was the Resumption act
a wise and proper rcmedyl Our Grcen5tck friends
claim that the Republican party contracted the cur
Tency and, IN this way, IS responsible Tor the hard
contraction OF the currency since s6s, ald tat tho
amount Of paper money outstarding on ihe son OF
1868, at me close OF lhe war re ana, Tut ON tae SON
june 1863 was S7f7223 so 76, while uu be Both VI
June, 1s7i latter the panicl. u was S1so04eOsl IL
So that the amount outs indiug wien he panic came
the first two months after tie panic %2G,ccV,O00.
Again If contraction OF the currency 70 the cause u
the hard times, why did the hard times extend TO all
Europe and Ia the Whole civilized WOrdi IL Is clearly
shown fnat fhp panic or s7 extended In it, Widening
fold to embrace all the commercial nations OF Eu
rome could not be affected by the volume OF our
paper money bur still affected by the general dis
iress under which we suffered. The Republicans
eved that tie volume Of our currency BENG iredeem
duced the panic OF 373 and that other causos sueh
the 0f great wars oyerprodgclon, Wild specula
ton, unproduc;ive enterprises inflated prices reck-
less gamOHng spirit which at timeS seem 10 seize upon
nations and individuals eonenrred to prcdIce the great
panic OF 1873 aud That me ehlei OF te.e was au IRE
10 day. =
FALLACY OF INITIATION.
Now as % the remedy Our Grcenback friends pro.
posed to meet the panic Of 1873 by large issue o.
deemable paper money. Yielding to the demand for an
increase in the volume OF the currency General Grant
did authorize the of $50 100000 OF UniGed States
notes that had been retired pOr 10 1865. Iuis action
mad not the slightest effect arrcsilg that raulc, but
tended 10 impair confidence ana cause the hoard
ing OF capital Free banking, also, rcsOrted TO- and
was one OF the provisions OF the Resumption act.
Under that act, banking became as free any
other trade occupation, and any amount Of paper
money could be issued upon the security OF bonds
deposited in Treasury. But, although this privilege
"A L. IFf4