Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1880-07-21
Opposition Capital Destroyed.

Opposition Capital Destroyed.
The principal campaign capital of the
opposition since the Greeley contest has
been the misfortunes of the country.
Poor crops. ruinous speculations of indi-
viduals. extravaganza of living. paralysis
of business, the downfall of stocks, the
depreciation of the currency, the fall Of
wages. even the ravages Of the potato
bug or poor catch of fish on the coast.
have all been made to contribute to the
increase Of the democratic party. The
party in power was held responsible for
every evil that crossed the public path.
even though it had no more connection
with such evil than with the last comet
that shot across the heavens or the last
tornado or earthquake.
In 1873 the State OF Maine was carried
by the opposition through the potent cry
of .'hard times" and the presentation of
the greenback theory that this was all due
to contraction of the currency and the
greed of the ''money power and that
sure relief would be found in turning the
republicans out of power and putting
the democrats in, and having legal tenders
printed and distributed over the country
in unlimited sums. That the ''times' were
hard was undoubtedly true, and that was
about the only true statement made by
the opposition in that campaign. A de-
preciated currency and a long period OF
reckless extravaganza and speculation had
brought on a commercial crisis of great
severity. Business had come to stand
still. Enterprise was checked. Failures
were the order Of the day. Laborers in
large numbers were out of employment
because the wheels of business had
stopped. Wages were low even for
skilled workmen It was difficult to pay
debts and taxes. The times pinched hard
and no mistake.
This condition of things the democratic
party took advantage of. 1t pointed to
tie party in power as the author ofall the
hardships under which the people labored.
It aggravated the troubles and increased
by every means the general discomfort,
and succeeded in making thousands of
republicans believe that if they would
have better times they must abandon the
party with which they had hitherto voted
and vote for the fusion ticket and Reform.
rhey said there was not money enough in
circulation and they were going to have ii
printed bv the cord and cast abroad so
generously that every mans basket would
be filled. Their ideas were certainly
pleasing. Who wouldn't be a greenback-
er when such visions of richness We're
held up before his eyes by the bright and
shining lights Of that party! Aladdins
wonderful lamp was thrown entirely into
the shade by the far more wonderful Rag
Baby.
Well, the republican party in Maine
planted itself upon the principle Of honest
money, square dealing with all the world,
resumption OF specie payments. and ac-
cepted defeat feeling morally certain that
the greenback delusion would soon pass
away. wanderers would return to the re-
publican fold, and the grand old party
which had stood for the right through fire
and blood would he re-instated in the
public confidence stronger than ever.
What is the result =? The principles which
we inscribed upon our BANNER two years
ago are triumphant. The course which
the republicans have pursued in State and
Nation upon the currency question is vim
dictated. The opposition is a broken. dis
cordant. demoralized mass. covered with
infamy for their vain attempt to steal a
legislature by contingent legally elected
representatives and filling their places
with men never elected.
We are to-day in Maine happy. pros
porous people. There is no suffering in
our State. Every man who desires and is
willing TO work can find labor at fair
prices. The products of our forests.
fields. rivers. mines. quarries. fisheries,
factories and other sources of wealth new
er We're so great as in the year Just passed
Prosperity has returned upon us as bust
ness improved. The evils of depreciat-
ed fluctuating currency have departed
Every paper dollar is as good as gold and
will command gold. 1t is true that many
of our sons continue to go west attracted
by the cheap and fertile lands and rich
ores of that western country. but as we
prosper and the west becomes settled the
fever for emigration will abate
During the last year the national debt
has decreased in the sum of S77, OSS.-
1928 In the same time the annual in
terest charge has been reduced s4.l39.-
1880.
The national debt has shrunk from three
billion dollars as it stood at the close of
the war to less than two billion dollars.
One third of the entire debt has been paid
in fifteen years. While Buchanan's ad-
ministration paid twelve per cent for
g al,