The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1880-02-12
HOW DEMOCRATS GO BACK or
PRINGiPLE

,nator BlyaTJ hiss been charged
with being opposed to silver coin. L.
his late spsech, while reviewing the
fact that the Democratic party, through
the traditions of our cruntry's history,
has alSsys been IN favor of and
pIedgei to honest IN nney. NJ. Bay
ard said
II Could safely t-ke The declarations
of party la'th sLd pfiI c. les--nf every
nationsi, OF every state, aod believe
I might uu'y say nf every county
convention of the Democratic party
from the foundation Of the government
down to the present year, and fad
nothing but denuGc alton of legal sen-
der paper money-aud On The contrary
you will fad the steady declaration
from generation TO generation, IN wsr
aud in peace, thar gold and si2oers c0As
are the only true and constitutions
money of the United States, according
to the doctrines of the dtmoC rscv."
Silver coin has always played al i'm
poriant part in the iiHsuc!al history Ct
this country, and especially is its val
ue recogn d in Texss. where it has
always entered so largely luso all COM
mercial and business transactions.
The frat attack made upon the coin of
the country was when iegsl tenders
were issued. This was followed in
1873 with the demonet;z nion of silver.
By which it was proposed to enhance
the value OF greenbacks. 1t was in
September of this very year that the
country was overiaken by one OF
IT'S periodicsi financial panics, last
ing q greater length OF time than
Was ever before known in the mis-
tory of such revulsions, Grip
pling for SIX wery years every
interest TIN 7ughou. the broad land. 10
1878 silver Was remontt.z d, anu
whether it be incident or accident, the
condition of monetary sff4irs began at
once TO improve, and shortly the di'-
ferences in values OF the three curren-
cles of the country ceased. Just pre-
vious to the denomination of siiver in
this country, Germssy pursued the
same course with This precious metal,
and with it, legislation on silver, CO.
incident r.ouSa ~ may haYe been,
the empire ''~ uot oniy plunged into
politIcsl ID: >. ia iat1 the
deepest t'ii"' .slre7', h1 h
OF which cI.cGi st,nc at *.
lst, while .lvrr in' .jn, ii, III met 2 a.
Eugland las ,I4 s;e ,udarsl, ami
its people have hu. bsen protected
against bitter distress, while France,
having retained the double standard,
and not long ago having experienced
the greatest national distresses, with
very short crops, has paid off an enor-
nous foreign debt, and is to-day in ,.
better condition than either England or
Germany. Such facts are quite well ue-
derstood by the people ct the Uulted
States, aud they will submit to no
further schemes { dem 1neti z ,tion. II
only remains tn take from paper mon.
ey that forced value, which has been
illegally placed upon il, to project the
country against any further tidaDcial
mishaps, aud to perpt tuate the era of
prosperity which now dawDs up us.
To leave paper money .egal tender
prepares the way for the sligites re-
verse, or the meres, political whim that
panic more t~rri5ie probably than
anything yts k,uwp. To take away
the legal ,sn'':t q IA ,hty of paper would
not deter tel1efs OF such paper from
demanding coin for it, aud no one has
any right To couplsIn Of proposed in
justice. Lot US admit of no upcer-
tainty a. TO the future by holding TO a
thing which is opposed to all sound
financial doctrine. AS long as this vol
ume of over $500, OOe. 900 of legal tender
hangs over the country our condition
remains precarious, and at any time we
may be overcome with collapse and
bankruptcy. To make such results i'm
possible, Mr.. B4yard sought to pass
his resolution, in which be was oppos-
ed by Republicans that Democrats
might not have the credit of passing
such wholesome legislation, and by
Democrats who appear to possess not
the faintest ides of their psrty's pripci-
ples.-
The WASHINGTON Sentinel edited bv