The Lamoille news. (Hyde Park, Vt.) 1877-1881, 1880-10-06
|nemieS Of Prosperity.
he Opposition OF the Democrats TO
Resumption = Their Attitude
Toward That Measure
Clearly Shown,

lOWhTu ludt meAbuTo
Clearly Shown.
letter from Washington to the New Yor
fmes says; The graveyard filed with the
lad issues, exploded theories, and disgraced
bctrines of the Democratic party, was very
Hectively described by General Garfield in
II appeal which he made to young''men at
eeveland, in October, 1870" squatter
&vereignty," "Human Slavery" State
&yereignty and Secession and the Rag
&by," were the names which he saw in
ribbed upon the tombstones. He might
Hve added mound to the collection, and
heed upon it tombstone bearing these
Uords: "Sacred to the memory of Demo-
cratic opposition to the resumption act"
The attitude of the Democratic party to-
uard that act deserves the careful con-
liberation of business men who desire to
promote the prosperity OF the country and
toplace the administration of the nations
finances in the hands of wise and success
fuI fnanciers, and not in the hands of a
party whose record is made up of blunders
and the support of crazy financial theories.
The resumption act Of 1875 was passed by
Republicans and voted for only by Repub-
Iicans. The Democratic party attacked it,
opposed it, and ridiculed it from the day of
is introduction into Congress. Their fool
IA opposition to it was continued almost
aptil the very day in whichspecie payments
8sre resumed under Republican admin
isfation. They sought its repeal in Con-
k1ess, and by their representatives all over
Ihe Union demanded its repeal; they
1ansed their congressional. committees to
all the proceedings OF the treas
~ department under the act, for the pur-
pose of discrediting the great undertaking
ihey filed volumes with speeches in denun
siAtion of it. Having done everything in
thsir power to prevent resumption, and to
pfove that resumption was mpracticable,
they now, with characteristic impudence,
are trying to conceal their record, and to
claim tn credit OF this great financial sue
cek Of the Republican party.
Qne Of the first steps taken by the Demo-
cfafs in Congress, in October, 1877, was the
inlfoduction of thirteen bills in one day for
tberepeal of the act. One of these passed
the House; it was amended in the Senate,
and this amendment and the sturdy opposi
fion which the amended bill encountered
from the Republicans in the House, pre-
vented its final passage in that body. But
tha Democrats continued their bitter oppo-
altIon to the act in Congress all that winter.
tie following extracts from the platform
oi the Democratic party, adopted in
national and State conventions, show the
party's attitude toward resumption, and
should be read by every business man who
is enjoying the fruits of resumption, and
who has vote to cast in November next
TENNEssEE - Democratic Convention.
Aug. 19, 1874.-"That we favor the aboli.
fionof the present cd GUS national banking
ayAtem, and the payment of the bonds of the
3oxernment by the issuance of its non-bear-
3interest notes according to the contract
exfressed and implied at the time of the
ofeation Of such obligation"
uHIo-Democrati Convention, Aug. 26,
1874 -"That we are in favor
ol aboishing the franchise of the national
haiIks to issue paper currency as soon as
fhefame can safely and prudently be done,
md that the notes 20 withdrawn by the
ba0ks be replaced by the government with
ieeal-tender currency.
That the Democracy of Ohio reiterate
tbeir declaration that the 500 bonds, by
fbe letter and the spirit of the law, and the
6eE7eral understanding of the community
8eze payable in legal-tender notes, and the
aetof March, 1869, which pledged the faith
ol the nation to their payment in coin, was
an anpnnecessary and wicked sacrifice of the
Inz<rests of the taxpaying laborers for the
b1aeft of non-taxpaying bondholders."
IssoURI-Democrati Convention, Aug.
end 81, 1874" That the $40 bonds au-
fI9rized by the act of February 25, 1862,
1@ succeeding acts, are distinctly by their
tezns made payable in legal-tender notes,
ofEreenbacks, and that the act of March
133l S69, whereby Congress solemnly pledged
t1E faith of the United States to a coin re-
8zmption, was an utterly unjustifable
n4qrpation OF power.
# That we favor repeal OF
~ national banking law and the substitu.
4n Of 'greenbacks to the extent of the
N5tional currency, thereby providing for an
mediate corresponding redemption OF our
a1hded Indebtedness, and the saving OF
100000 of interest annually to an over
red people.
That the legal-tender notes
qzf fbe United States, in addition to being
kseeivable in payment OF all debts and de.
ands of every kind due to the United
sEates and to individuals, should also be
sde receivable for duties on imports"
Fhe foregoing, from the platforms of 1874,
Hzy serve fitly to introduce the following
zxEracts from the platforms Of 1875, which
*sFe adopted only short time before the
lznocratic National convention.
ENNsYLvANIA-De Democratic Convention,
aanrch %, 1876" That the statute for the
4Hmption Of specie payments on the first
pzy Of January, 1879, is impossible to exc
Qaie 1t is deliberate proclamation that
bat date the United States will go into
pkruptcy. 1t paralyzes industry, creates
trust of the future, turns the laborer and
pducer out Of employment, is a standing
zfeat upon the business men, and ought to
M forthwith repealed" !.
Democratic Convention, April
M 1876" We oppose the contraction OF
4e volume of our paper currency, and de-
sIAre in favor Of the adoption of measure
I7pking to the gradual retirement OF the
@fculation of the national banks, and the
4bstitution therefor of circulating notes
lz7ned by authority of the government.
The act Of Congress for the resumption
a1gpecie payments on the first of January
1579, was party measure, devised in
zefFet caucus for party ends, and forced