The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1880-09-25
NATIONAL POLITICS.
BUSINESS ISSUES OF THE PRESI
DENTAL CANVASS.

49,
pass into the hands of the Democrats.
Merchants, manufacturers, transporters,
bankers, and others who have to do with
the larger affairs of trade and finance dis
trust the Democratic party, and are tax
ing an unaccustomed interest in the Re
publican campaign. The excellent record
of General Garfield on all business ques-
tons which have come before Congress
during the past twenty years has doubt,
less something to do with the attitude of
these men, contrasting, as it does, very
any record which could be appealed tc
for controlling his course if he should be
elected. But the positively bad record OF
the Democratic party has more influence
in shaping their views than the known
opinions of one candidate and the lack
Of known opinions of the other.
Business men are we'll satisfied with
the present condition of things; manu-
featuring establishments are busy, trade
is active and steady, prices of commodi,
ties are not tluctuating and afford fair
margin of profit to the producer and
dealer, our foreign commerce shows a
handsome balance in our favor, labor is
employed at living wages, well-managed
railroads are earning dividends, the banks
are solvent, the currency is abundant
without being excessive i'll quantity, and
the treasury regularly reports Il surplus
of receipts over expenses which is APP
piled to the reduction of the public debt.
In a word, all is going well, SO far as the
affairs of the business community arc
concerned, and the action of the govern
ment tends to assist and proong this sat
isfactory condition of things. The policy
of the Republican party, i'll all matters
affecting business interests, is now fixed
by the practice of three consecutive ad-
ministrations, and has been repeatedly
approved by the platforms of national
conventions. If the Republicans are
again successful, this policy will of course
be continued The reduction of the prin-
cipal and interest of the debt will go on,
specie payments will be maintained, the
national banking system will be contin-
ued, and whatever changes may be made
in the tariff, the principle of protection
to our home industries will not be aban-
doned.
What will happen if the Democrats
succeed? Nobody can predict. In this
uncertainty lies one of the chief sources
of the weakness of the Democratic party
in the present canvass. In all countries
governed by popular suffrage, power
shifts from one party to another at longer
or shorter intervals of time, and the
longer one party has been in control OF
the government the greater are the
chances of its defeat at the polls. Will
this law of politics in their favor, the
Democrats. who have been twenty years
out of power, might reasonably hope fOl
success this year, in spite of the memo
ries Of the rebellion, and in spite Of the
alarming solidity of the South, if they
were able to give the country assurance
that they would do nothing to disturb
the prosperity of business. But they
can give no such assurance, save by the
cheap protestations of stump orators
and these protestations only have the
record of the party If it had behaved
well in the past there would be no neel
now for its leaders to assert with sucl
warmth that it does not intend to destroy
the public credit, debase the currency
cripple manufacturing interests, shut w
the banks, and generally overturn thu
present stable condition of affairs. Fo
the Republicans to make such assertion.
concerning their party would be absurd
1t would be as if a banker of eXcellen
reputation for solvency and integrity
should say to a depostor, g Sir, do no
mean to steal your money, OF squande
it in speculation The depositor would
be likely to conceive a suspicion at once
and would take up his checks and casl
from the counter and go to some othe
bank. The Democrats are in the atti
tude of a banker who went out of bust
ness, bankrupt, years ago, and now APP
plies for renewal of public confidence
When inquiry is made as to what he ha
been doing in the mean while, it is fount
that he has been engaged in preparing
schemes and tricks for the injury of hi
customers. to put in practice in case Ii,
should again be trusted with the man
agement of bank. His vehement dec
laration that he renounces all his swim
ding projects, and means to be homes
in future, is hardly 4 reason why h,
should be given the keys to the banl
vault.
Is the comparison unjust? Let us see
Did not the Democratic party, almost a
soon as the war ended, begin to devils,
schemes for preventing the government
from dealing honorably with the public
creditors! AS early as 1861, there aros,
movement which got the name of Pen
dletonism from the fact that one of it
conspicuous champions was George II
Pendleton, the Democratic candidate 70
; the Nice-Presidency in 1864. 1t had TO
its object the payment of United State
bonds in il Deprecated irredeemable pa
per currency. The Democratic part,
went into this movement almost en- ntasse
Will, fa,t- hnnnrn 1,1n 1,
| East, all the leaders of the party indorse,
this dishonest project. The Nationa
Democratic Convention of 1868 adopte,
it by passing 4 resolution i'll favor of pay
ing all the bonds in greenbacks that wer
not on their face specifically made pay
able in coin. Most of the bonds bore n,
: such specific declarations because whel
the form Of them was adopted. it wa
not supposed that any political part,
would ever claim that Il promise to pa,
dollars at a definite time could be re
deemed with pieces of paper which wer
themselves only promises to pay dollar
ut some indefinite time. But the Demo
cratic theory in 1868 was that bon,
bearing interest and maturing ut Il Ger
+ tain date could be honorably discharged
with a note bearing no interest and ma
turing at no certain date.
\ few years later there arose i'll TIN
West new and worse form of dishoncs
financial mania. PendletoniSm left TIN
question of the future REDEMPTION of tn,
mreenbacks for the future to settle, bu