The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1879-08-05

uoosc W lCiupuluS CCOHpllouCN Uy
squandering thitteen millions OF the pub
tic treasure 10 commissions and double
interest, by largely increasing the princi.
pal of the delt, and by general massa-
ere OF business through contraction Of
values to reach the gold level Of prices
abnormally sunk by tue destruction OF
half Of the metallic money. They de-
lnand the grateful approval of the people
for having accomplished gold resumption
regardless, OF the fact that all their pledg-
es Of renewed prosperity are falsifed ,snd
that the four years march to it is strewn
With more wrecks of the fortunes. hopes,
and happiness Of the people than marked
the tour years of our Tremendous civil
war. 85
REPuBmcAN MoNo-MErAIIsx va. DEMO
esATIes sBi,MErALIsM -
Finally. the Republicans claim popu-
lar endorsement because of taeir avowed
purposes 10 have no further change IN
the finance legislation of the country.
They tell us to Let the finances alone, that
agitation will only produce mischief, and
that every thing is, lovely as the laws now
stand. ~. .,... rsna -a1
Fellow-cit zens, it is idle to talk about
either party letting tue finance question
alone. The Republican party does not
intand to do it. Did it favor The present
law providing for even a very limited
coinage Of tue old silver dollar2 No,
tue great mass OF the party resisted 1t to
tie utmost. Their President vetoed it,
and it was only carried through presis-
tent popular agitation by the western and
southern Democracy and the Nationals,
before which portion Of the Republi-
can patti weakened and voted for the
hill. .t, ....--,, .. So
Mr.. Sherman SAYS in his last annual
report that the present law providing for
tue coinage oftwo millions month can
notstand without in time yeithrowing
tue exclusive gold standard, He has
prevented that result heretofore by hoar-
ding the coined silver as 3 resumption
fund but be knows there is limit t, the
amount OF money which the people will
suffer to remain piled in the Treasury,
and that tue day will come when they
will demand that very large proportion
Of that boarded silver shall be applied to
the extinyuishment of the bonded debt,
and in that way the country will be
forced from the gold level OF prices to q
bi-metalIic level. Therefore, he says,
that the time will soon come when this
coinage Of the old silver dollar must
cease. Neither he nor his party has any
intention to permit values to rise above
tue low gold level. Hence, the question
must yet be settled whether we are tu
have and maintsin the gold standard only
or restore the bi-metsllic standard by
tue Unlimited coinage OF silver.
The two great parties are squarely OF
issue on this question. Tue Warner bill,
which gave the whole profits OF coinage
to the Government, but provided for pla.
cling silver exactly on par with gold in
respect of unlimited coinage, and Of the
issue of cel ltiicates for silver bullion,
passed the House after an intense and
protracted struggle. every Democrat but
seven voting for the bill and every Re-
publican but four voting against it. That
bill will pass the Senate next December
in spite of the opposition OF half a
dozen national bank and gold-standard
Democrats. The almost complete unity
Of the Republican party in the Senate
and House against the hill, with Mr..
Sherman's known hostility to it, assures
veto Of that great measure OF relief.
The contemplate .cowardice Of the Re-
publican party OF Ohio in falling to say
word on this great question is at once
an evidence that the people demand the
relief and that the Republican party are
determined not to grant it. fee
II that measure we're passed, almost
all the product of our silver mines will at
once be poured into. the channels OF circu-
lation. Certifcates Of denominations of
ten dollars and upwards, redeemable in
coin and represented by the silver deposi.
ted. will enlarge our circulating medium
and cause . wholesome rise OF prices,
stimulating industry, increasing .prudnc-
ton, Tightening the burden OF debts and
taxes, and giving US prompt and gener-
GUS impulse renewed toward prosperity.
DEMOCRATIC GOVERNMENT MONEY VS.. RE-
hna PuBLrcAN BANK MONEY. m 7c
. The other great finance issue not con-
sidered settled by either party is the
question, Who shall make ana issue the
paper money-the Government orsthe
National banks7 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 oil
Treasury notes, which, in the language OF
the platform, shall he receivable for all
debts and legal tender equally with
coin, = = such Government issues 20
be reguleted upon principles established,
by legislation or organic law, 30 as to
secure the greatest possible stability OF
values ? A'iiis ~ -
ri The Republican party intended by the
Resumption law, and still intends, to
take up and destroy every dollar Of The
Greenback money. Secretaries Bristow v
and Morrill,, In their Official reports, de.
clared that such was the purpose and ef-
feet of the law, and Mr.. Sherman, Its au.
thor, admitted 1t on the floor of the Sen
ats. 1t was the agitation against the
total destruction of the Greenbacks BY
the Western and Southern Democray
and the Nationals which, against the de-
termlned opposition of the great mass
Of the Republican party, established the
greenbacks now In circulation as q part
Of the permanent currency Of the conn.
try. But the money power regards the
costless greenback ss standing menance
to its patial control Of the currency
and an obstacle to that complete control
which 1t desires and intends to secure.
The paper currency will not be left hall
costless and half subsidized-half issued
bv the Government and half by private
corporations. Itshould and will be is
sued wholly BY one power or the other.
Give the Republican party new endorse.
rnert, dominated and controlled as 1t is
by the National banks, and you will find
that either through d contrived judicial
decision, or di' ectly by legislation, your
greenbacks will be wiped cut, and the