New-York tribune., 1880-10-01

THE DEMOCRATS AND THE PUBLIC CREDIT
1t is not new thing for Mr.. August Bel
mont (who would like to be foreign
minister, and has no possible chance
unless the Democrats succeed) to ap-
pear as the defender of the Democratic party,
when business men threaten to vote against it
because Of their profound distrust as TO its
financial tendencies. In more than one elec-
ton he has played the same part. He was a
particularly active supporter OF the Democratic
ticket, we remember in 1868, when The plat
form was dictated by Mr. PendletOn's Iepudiat
ing friends of the West, and yet il seemed
proper to Mr.. Belmont 10 Try to persuade people
that there could be no danger in supporting a
party which formally proposed tC pay of United
States bonds i'll deprecated greenbacks. In
1876, when the formal, bitter, and almost unan-
imous opposition of the Democratic party TO the
resumption act caused alarm, Mr.. Belmont
again appeared as it, apOlogst His argument,
always substantially the same, is not very com
plimentary to his own party. 1t amounts 10
this that the Democratic party must not be ex-
pected 10 do what it formally pledges itself to
do, nor what it tiles to do when out of power.
So now; Mr.. Belmont is eager to assure every
be DIV that the public credit would be just as
sale with the Democratic as with the Repubi-
can party i'll power.
The best answer to this sort of defence is the
fact that Democratic bankers and investors
have been seizing every opportunity to sell
United States bonds and other bonds and
stocks, ever since the election in Maine gave
them hope that General Hancock would be
elected. They know their own party, and their
acts speak louder than any words They sell
because they know that it would not be safe to
hold securities OF any kind. ana he who OBJ
serves the understanding between General
Hancock and General Piaisted the Greenback
candidate in Maine, will not be surprised at
their decision. TheIe has not been single step
taken to advance or support the public credit
since the war, that the Democratic party has
not almost unanimously opposed. There has
rot been single measure brought to vote
essentially hostile to the public credit or TO the
effort to restore honest money, that has not
been supported by large proportion of Demo-
cratic members. All the most dangerous and
revolutionary financial schemes which have been
proposed Sithn the past three years have had
nearly their whole support from Democrats.
The people of this county think il safer to
Judge party 10y its acts than by the words of
any of its advocates.
The country knows that il would be fatal to
the public credit TO issue more greenbacks, in
face of the pledge that the volume of notes
outstanding 81 Ould hot be increased. and yet
the Democratic party has repeatedly voted to
increase thesssue of greenbacks. Tie country
knows that il would be fatal TO the public credit
to break down the National banking system,
ard yet the Democratic party, both by formal
in many Conventions, and by votes
IN CONGRESS, has continually manifested its de-
sire TO do this. The country knows that il would
,e fatal to the public credit, and most injurious
o industry, TO overturn the present system of |
aria, and yet the Democratic party has con-
iDualIy attempted. and formally declares Its ]