The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-09
OHIO DEMOCRATS HONOR THE DAY.
(DY TELEGRAPH TO THE HERALD

COLUMBUS, Jan. 8. 1879.
The banquet of the Young Mems Democratic Club
tonight held in the main dining room Of the
Neil House. The hall was handsomely decorated with
flags and festoons of tricolored CLOTH while at the
head Of the hall hung o large picture of Andrew
Jackson. Seats had been provided for 800
guests, but when the banquet commenced only 175
were occupied. The failure of Senator Thurman to
be present doubtless kept many rural visitors at
home. Governor Bishop sat at the head of one table,
General Ewing at another and Senator Pendetop at
still another. After music from fine string orches
ira, splendid supper was disposed of. when the
feast Of reason commenced. j. D. Sullivan president
of the club, delivered hearty address of welcome.
General Tom Ewing then responded to the toast,
1.-THE President of the United States.'
GENERAL EwING's ADDRESS,
General Ewing said:-we are met to commemo-
rate the public life of who, next Jefferson best
represented the fundamental idea of democratic
goyernment-''equal rights to ALL special privileges
to none. Our Repubic at its birth east of the more
obvious devices of government by which aristocra-
cies through all time have subjugated the masses.
Orders of nobility laws Of primogenure and entail
of classes or interests from taxation-aIl
were swept away. But in Washington's first
q scion of the Bank of England. incorporated the
Bank of the United States and sold to that private
corporation the sovereign power to make money AID
thus to rule the business OF tho people by changing
Mt pleasure the values of their labor and properly
Hamilton and the lovers OF strong government
favored the bank; so did Madison and most OF the
State rights republicans: and Washington, too, who
sat peerless above all party classification The I'M
errng instinct or jefferson alone saw and condemned
in il the evil principle of alliance between the
government and q class and the surrender of o
ercign prcrogative to favored few which would in
time breed money aristocracy such as has ever sat
behind all thrones and chairs OF State and, cnricing
itself by the subtle devices of power brought the
masses TO poverty and the nation to decay.
ovERTHRowS By "oLD HICKORY
Renewed In 1916 without serious opposition, ex-
cept from Jefferson who stubbornly maintained that
the general government alone should issue the paper
currency the bank reached the end of its second
lease of power in the last term of Andrew Jackson.
Established by the fathers OF the Republic its
stitutonaty settled by the Supreme Court its power
and its capital swollen fouriold. sustained by the
press, by the great commercial and manufacturing
interests. by all the whig party and by
powerful wing of the democracy, re-
newal of its charter seemed q forgone con-
clusion. Every consideration Of party concord
and of administration success appealed to Jack
son to let the bank alone. weak man, or strong
but selfish man. or one who saw no evil principle in
bank money and government alliance with the bank
would have favored acquiesced in renewal of its
life. But. dismissing Duane from his Csbinet-driv-
ing from his party Kivcs Wise. Tallmadgc Williams.
the Grahas the Srongs and other powerful leaders.
amid storm OF denuuciation from the giants of the
senate, old Hickory struck down the bank and vim
Dictated the vital principle Of democracy that the gov
eminent should have no private corporation for
mistress to share or usurp its sovereign power.
THE OR THE GOVERNMENT.
This memorable conflict il often spoken Of as
fight for 'nard money against soft money, for
mint drOps' against rags, by men VINO nave
learned by rote the catchwords of the contest, but
never learned its purpose. Said Jackson in his fare
well addrcss:-'Thc corporations which create the
paper money not be relied on to keep the circu-
Iatnq medium uniform in amount" Aud in his
Message, in 1920, he said: submit TO the wis
dom of the Legislature whether national sys-
tenn founded on the credit of the government aud
its revenues, might not be devised which would
avoid oil constitutional difficulties and u; the same
time secure all the advantages that expected to
result from the present bank So that Jackson
meant TO accomplish By his contest with the bank
Just the purpose of the memorable declaration Of JEFF
icrson :-"Bank paper mnst be suppressed and the
circulation restored to the nation TO whom IL be-
longs" Now half century has passed and the peo-
Pile are confronted with the same question, greatly
magnihed IN dimensions and Importance. We
have now confederation of 1900 United
States banks instead OF one, with a capital
OF Ave hundred millions instead of thrty-fve.
and with loans of nearly q thousand millions. They
are the of Briarcan money power. reaching
every quarter of our land. and holding every bust
man aud business interest in their grasp. In
stead OF being the landmarks of the government
they arc its rulers Tho representative OF the
Treasury Department tmidly crouches in q seat In
their clearing house while they insolently nulliiy
the laws. From 1865 until 1876 they fastened
lis q series of finance measures which have doubled
the burdens and woes of the war; spawned hun
drcds of millionnaires and millions of paupers, and
broken more hearts than would pave Broadway from
Central Park to the Battery.
DEFIANCE M THE MONEY POWER
To complete the work of degradation and subjuga-
ton of the masses, the under whose Presidency
this infamous legislation accomplished--the
worshippcr and worshiped of the iuiionuaircs--is
10 back TO us in 1880, annointed with the bcne
dictions of every crowned head of Europe to give
us q strong and profgatc government, such
as becomes the transition from a real 20 q
sham Republic Let us meet him or who
ever else may be nominated by his party with OPP
position composed OF all citizens who want 60 pre-
government for the people and by the people,
and who unite on o few fundamental propositions
in opposition to the aggrossons OF the money
powcr--thc substitution of greenbacks for bank
notes the unlimited coinage OF the old silver dollar.
and the prompt and absolute stoppage OF all in-
crease of the bonded debt for resumption purposes.
lot rtH mimi
ton until IL shall have lad its day OF trial. The