Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-09-22

but has been hurtful. Look at the resnitsEaioht
years OF commercial Distress which hiss wrecked
broken the strong; which has destroyed the savings
OF twenty five years, and wasted whole generation
OF s1 men: II mas brought misery into households
wnicn were happy; made reckless hearts that ere
steaffast, and won to their ruin yrtuous mon nv
their necessities and temptations.
And when We compare the records of these treat
parties and point out the necessary aud sntio ated
results Of Republican policy, Mr.. Sherman cries
aloud: I'VE have resumed specie payments !" and
processes to expect us to find compensation and con-
neosssFy inflicted We might have i had FL snsca
payments and avoided all of them We might hayA
PAID much Of the principal of the public debt, and
SO nave reduced the interest. We might have had
rosPerous business. Industries bringing their re-
Wafo, ana con'ented people. Strikes, riots popu-
lar, unlawful risings the efforts, honest but
generally wrong and m sdirected, to remedy some
a1niciing evil Contented he rts. Il stomachs an
peased appettes, inmates Of comfortab homes do
not riot. > Wv
sPECIE PAYMENTS
But this resumption. What is it? tits not re-
sumption OF specie payments; not giving to the cred
'tor the option of paper coin. 1t il the eouaza
uon OF paper and coin to such on extent that if
man will take $50 of greenbacks of any multiple Of
MY, 70 the treasurer in New York, he can obtain
com 1or II at par. This is all. You can have no
legal right to demand coin for them at the assistant
reasureFs or at the custom house in Cincinnati or
FMladelpha, or Boston, or st. Louis or Oh capo or
Now Orleans. 1t is announced to-day that by his
grace and favor Secretary Sherman intends to per-
init the exchange to be made in those cities He
has never yet allowed it, and if he shall hereafter do
So it viii be because he wills it, and not because the
law law enJons 1t. This is all do not disparage it.
fairly. repeat what have said before. I am Glad
we nave obtained it, such it is. am glad the
enormous sacrifice of the last years has not been
!iey without result am glad the sacriicial offer
ing mas not been entirely in vain. value the equal
1zauon and consequent convertbiity of all our chr
tehcy. was opposed to disturb lg it In 1861. I
Woaia not disturb it in 1872 1t has been reached
which l thought entirely unnecessary: but. being
reached, We will nske the best Of it. The past can
mot DO Df broug 5Ssa te life The T0a
tunes and broken hearts Of the last ten wears
will remain monuments of Republican policy. They
can not be restored.
The sky may clear. The sun may shine BRIGHT
grow but sun and shower eau never erect again the
forest winch the tempest has torn up from its roots
or the ne, lightning has shattered in its wrath!
wilt do the administration and Mr.. sherman fnll
Justice. When by his system of boarding q d con-
tracting and SO approaching the currency he had
MADE business 30 uncertain that enterprise was
ssflcken with paralysis, and capital could find no
safe Investment in the channels of industry, and
per cent was the alternative of ideness he did re-
fand much of the public debt with long bonds and
save largely on the interest And he ads the re-
uEn o! prosperity by his boast of resumption and
ms CAIN OF glory In having accomplished it: for
tneae are his pledges, that he will not further con-
n act me currency, or hoard it, or LONGER make
business Improbable. For these achievements he
deserves just measure of commentator
Hut Is TINS resumption really permanent? Will it
enaure1 we nave been told by the secretary of the
IT. asury, ume and time again, that hard times will
periodically come on usthat either our faults or
our misfortunes will surely bring them again-that
over trading or excessive production or undue ex-
Pansion of credit, will surely bring on crash-that
the balance of trade or foreign wars or intestine
commolon, Will drain our specie from. us Thev
cite in PROOF the hard times which have SO often
suffered. never met a thinker of that school who
old not hold the same opinion. It may be true
every nation has experienced the misfortune. But
II 1t be true, and shall not be exempt a. VIC have
no reason to believe we shall be exempt from the
common fate of nations, and specie at
1nterv Ia be drained from us by circumstances
abroad, over which have no control, what are Wa
10 40! Are we to go through the weary round Of
suspencng specie payments, of reducing our cur
rency of disturbing all values, of bsnkrupting q
generation of years Of depression in order to set out
again on a similar round of labor and temporary
success and ultimate failure? Is that system right
which, when circumstances beyond our control de-
prVes us OF SPECIE compels to deprive ourselves
OF Twice as much paper currency? The secretary
enabled him to maintain specie payments
on taree hundred and forty-six millions Of green
packs, anes' three hund'ed and twenty millions of
osnk currency That is one dollar of coin for five
OF paper use round numbe for illustrat on.
Wnen he loses forty millions of coin, vel he may
will he reduce the paper currenc, two hundred
millions, or will he sell bonds declining trade
ana depressed market and supply the loss? No in
dustry caA staud such contraction No resources
can supply such recurring expenditure. Has the
human intellect exhausted itself to leave us in such
piiful dilemma? Gan political science invent no
relief from this distressing cycle Inevitable s,rug-
gie, IA; apparent success, crushing failure?
maod viii on not tho believe s1s it: The de-
nati"n to-day is to invent the remedy, to produce
currency which will maintain its volume and value at
nome, Notwithstanding the political or commercial
cnvulsions of foreign nations and at the same tina
bear its proper relation the
the exchanges of those naticns-which shall sustain
home industriv and exchange their products not
w ,nstan a wars and rumors of wars" The
greenback was an effort IN that direction "The Ohio
Idea IS to continue our efforts ntil this demand
which industry makes scientific statesmaushtp
snail be fully satsfed-until the possibility Of main
tanning specie payments permanently shall be fully
established, or relief from the evils OF recurring
suspensions and assumptions shall be found,
The Cincinnati Commercial finds it difficult to I'M
derstand my position ON this question That is very
hard on me and little hard on the Commercial
also. Derive great consolation from the fact that
the Eastern gold papers ne it as difficult to under.
stand the Commercial as the Commercial finds It
difficult to understand me.
We have been told very often, and romewhat os-
entatously by the President and his secretary that
good times are coming, and with an air which seems
to claim the credit OF having produced them. In
this country, so blessed by Providence in soil and
climate and capacity for production inhabited by q
people SO vigorous and enterprisng, made up Of the
We must have good times except for the
obstruction of bad legislation. Gods sun viii shine
His rain will fall His promised seed time and har-
vest will come Prosperity is coming not because Of
but despite the Re ublican policy Notwithstanding
every effort made for many years TO OBJ
struct it, Notwithstanding the secretarys policy of
contracting and boarding, and thereby resunine.
II good times are coming. we owe it not to Mr.
Sherman, not to Republican policy but to the re-
stricon of the cancellation Of greenbacks to the re-
monetization of silver to three years of abundant
crops here, to years of short crops abroad to the
gre influx OF coin because of our large exports,
and 10 the cessation of further contraction
Fellow-Democrats: We have an excellent ticket
composed Of patriotic, union-lovn8, wise men
They have shown their wisdom in the halls of legis-
ton. They have indicated their patriotism on the
field of bait e. Let give 1t yea GUS, hearty sup
port. Let invite all friends of good government
and wise policy and prosperous times to unite with
US. Let those who thiuk aliko vote together Let
us meet the questions which confront as with faith
not fear Under the genial influences Of these large
crops and active markets and improving trade bust
ness is reviving. The genius Of our people, the
immense recuperatlve power Of their
energy and enterprise, will do all the
rest for their material prosperity. Let
us strike hard fr free elections; for pure ballot
box; for UNFOLDING by the civil power the civil adj
minstration of our laws: for "an understandable
Union OF indestructible States" Let us push in
Vestigations in financial science. The people arc
wise. Their experience in free government. their
jealousy of power, the necessities Of their uneoualed
business activity will this year or next year. or in
the: own good time, retrieve temporary errors and
solve these questions IN the interest of hirh nd
vancing benefcent civilization.