Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-23

which, II it stood alone would be conclusive
to my mind, and would place me in oppo-
sition to the Democratic scheme of putting
in circulation short dollar. The money
creditors OF the Government, which include
the bondholders and those who loaned their
money to the Government in times Of war.
have been largely paid of, and in every In
stance paid of in the best money Of the
country. The principal creditors Of the
Government to-day are not the bondholders
nor the men of capital and large means, but
the soldiers who fought the battles of the
Union in the most sacr ed and stainless cause
in which mankind has ever engaged. In
1867 the Government owed to its creditors,
whose evidence of Indebtedness was
in in mn d06 the ooo form Of bonds, :. nearly :
nnaIly paid, in interest alone alone, sl4s, ISL 900.
The pension roll OF the country was then but
$50 $4,000. When the attempt was made at
that time by the leaders of the party that
now stands in opposition to the Republican
party, to repudiate the debt of the bond
holder, or pay it of in deprecated currency,
insisting that we could never pay it in Jul,
represented good faith to its creditors, and
honorable payment of every obligation, and
swept back the tide ofinfiation and repudia-
tion. They said that the Union which they
stain put upon its financial honor, but every
debt it had contracted to preserve the Union,
should be paid in the best coin of the Re-
public; and every Obligation n, should III ,i1, be
ing to wait for their pensions until this great
money obligation was provided for. The
Government credit was, therefore, sustained
and over 81, goo, 100000 of that great debt has
been paid off, not in a clipped dollar, but in
a full dollar.
SOLDIERS NOT BoNDHoLDERS NOW.
The positions are now reversed. The chief
oraditopc nj fha ami n
the soldiers; they are in every State and
Territory of the Union North and in many
of the States of the South. The interest on
the public debt Of the bondholder is only
$27 1000 annually as against Sl4S, ,0o0, 600 in
1867, and the pension roll of the soldiers in
1891 is Sl37 900 000 against $4,000 600 in 1867.
Shall the soldiers have his great debt paid
off in the same coin as the bondholder? Is
1t right to force upon him dollar worth so
cents when the other creditors of the Gov
ernment were paid 81 worth 100 cents? Is it
just to the pensioner who receives Sl2 a
month TO be paid in silver dollar worth so
cents and thus receive SO go as his monthly
pension rather than $12 which the Govern
ment has contracted to pay himI For one l
shall never consent that the soldiers of the
country shall be- paid in any poorer coin
than the most favored creditors of the Gov
ernment.
Ohio has never in the past given her vote
for debased currency. and she will not do
so in the future When the country was
wild for imitation in 1875, under pressure of
hard times land they were hardy the sober
sense of the people of this State, without re-
gard to party, stemmed that awful tide.
The people of Ohio had more to do than any
other State or constituency of the Union in
keeping the nation upon the rock of honest
finance and honest currency. Thousands Of
democrats helped in that great struggle.
Not through their own party organization,
but by leaving their party organization and
joining with the party which represented
good faith and honest dealing with the pub-
lie creditor. They can take no other course
this year. And the people OF Ohio will take
no backward step.
1t may be worth while to know the per
capita of our circulation at different periods
of our history. The per capita circulation is
greater in this country than at any other
period before The am punt of money in cir
culation was about s4S5 0O0. 900 in 1850, and the
amount per capita was Sl3 IS. In 1865 there
S7a3, 900 000 in circulation. and the per capita
was $40 50. In 1856 the circulation was 81, ,292,
100000, and the per, capita was S23 o.. On
January 8, 1891, the circulation was 81 329 000,-
600, or S24 10 per capita 1t may be necessary
to increase this circulation, but it cannot be
done with silver dollars that are worth less
than 100 cents in value.