The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-07-31

that everything is lovely as the law now
stand.
Fellow citizens, it is idle to talk about
either party letting the finance question
alone. The Republican party does not
intend to do it. Did it favor the present
law providing for even very limited
coinage Of the old silver dollar No, the
great mass of the party resisted It to the
utmost. Then the President vetoed it,and
ii was only carried through persistent
bopnlar agitation by the Western and
ESpnthern Democracy and the Nationals,
| h6s6re which portion of the Republi'
hii party, weakened and voted for the
4 Mr.. Sherman says in his last annual
report that the present law providing for
\ the coinage of $2,000,000 month can
/ rot stand without in time overthrowing
the exclusive gold Standard He has
prevented that result heretofore by
| boarding the coined silver as a resump-
ton fund; but he knows there is limit
10 the amount of money which the people
will suffer to remain piled up in the
Treasury, and that the day will come
when they will demaEd that a. very
large proportion of that boarded silver
shall be applied to the extirguishment
of the bonded debt, and in that way the
country will be forced from the gold
level of prices to q bi.metallic level.
Therefore he says the time will soon
CONS when this coinage of the old silver
dollar must cease. Neither he nor his
party has any intention to permit values
to rise above the low gold level. Hence
the question must yet be settled whether
we are to have and maintain the gold
standard only, or restore the bi'metallic
standard by the unlimited coinage of
silver.
The two great parties are squarely at
issue on this question. The Warner
Bill, which gave the whole profit Of the
coinage to the Government, but provid.
ed for placing silver exactly on a par
with gold in respect of unlimited coin
age, and of the issue of certificates for
silver bullion, passed the House after an
intense and protracted struggle, every
Democrat but seven voting for the bill
and every Republican but four voting
against it. That bill will pass the SEN
ate next December in spite OF the oppo'
sition of half dozen National Bank
and gold standard Democrats. The al
most complete unity of the Republican
party in the Senate and House against
the bill, with Mr.. Sherman's known hos
tility to 1t, assures veto OF that great
measure of relief. The contemplate
cowardice of the Republican party of
Ohio in failing to say word on this
great question is at once an evidence
that the people demand the relief and
that the Republican party are determ'
ined not to grant. :,
II that measure were passed almost all
the product of our silver mines will at
once be poured into the channels of cir
culation. Certificates of denominations
of $40 and upward, redeemable in coin
and represented by the silver deposited
will enlarge our circulating medium and
cause wholesome rise of prices, stimu
lating industry. increasing production,
tightening the burden OF debts and
taxes, and giving us prompt and gen.
erous impulse toward renewed prosper.
ity. s-
DEMOCRATIC GOVERNMENT MONEY vs.. RE-
PUBLICAN BANK MONEY.
The other great finance issue not con.
sidered settled by either party is the
question. Who will make and issue the
paper money-the Government or the
National Banks? The Democratic party
in Congress has always favored the sub
stitution of Treasury notes for bank
notes. The Ohio Democracy this year,
true to its past avowals, declares for the
gradual withdrawal of National Bank
notes and the substitution therefor of
Treasury notes, which, in the language
of the platform, shall be receivable for
all debts and legal tender equally with
coin, such Government issues
to be regulated upon principles estab-
lished by Legislation or organic law so as
to secure the greatest possible stability
of values"
The Republican party intended by the
Resumption Law and still intends, to
take up and destroy every dollar of the
greenback money. Secretaries Bristow
and Morrill, in their official reports de-
clared that such was the purpose and
effect of the law, and Mr.. Sherman, it's
author, admitted it on the floor Of the
Senate. 1t was the agitation against the
total destruction of the greenbacks by
the Western and Southern Democracy
and the Nationals which, against the de
termined opposition ofthe great mass of
the Republican party, established the
greenbacks now in circulation ss part
of the permanent currency of the coun-
try. But the Money Power regards the
costless greenback as standing menace |
to its partial control of the currency, and |
an obstacle to that complete control
which it desires and intends to secure. |
The paper currency will not be left half
costless and half subsidized issued |
by the Government and half by private |
corporations. 1t should and will be |
issued wholly by one power or the other. |
Give the Republican party a new in.
dorsement, dominated and controlled as |
it is by the National Banks, and you will |
find that either through q contrived iu |
diCial decision or directly by legislation4
your greenbscks will be wiped out, and
the Money Power will give you just as
much or as little paper money for your
business as it pleases, and will regulate
the value Of your labor and property to
suit itself.
Our experience has demonstrated that
no matter how plentiful may be the sup
ply of gold anu silver, the greater part of
the money actually current depends the
prices of labor and commodities. As that
volume rises prices go up, and as it falls
they 60 down. The whole volume Of
money current has rarely been over a
6ftieth part of the aggregate value ofthe
property of the country; yet, when the
money in actual circulation is reduced
500 600, 900, that reduction shrinks the
value of labor and property to fifty
times the sum of the currency reduction;
and 80, when the current money 10 in.
creased $lOO0OO0O0 it adds fifty times
that sum to the aggregate selling value
of other property. So, too, when the
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