The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-21
TELDEN AND HENDRICKS.

Samuel ]. Tilden and Thomas a. Hen
bricks were two of the most honored lead
ers of the Democratic party before it be-
came a Populist party. The mention of
their names recalls one of the most mem
orable presidential campaigns in the his
tory of the country. Tilden and Hendricks
were made the leaders of the Democratic
party in that campaign because they rep
resented Jeffersonian and Jacksonian De-
mocracy. The Journal opposed them to the
best of it's ability, but it never questioned
the quality of their Democracy or their
ability and personal integrity. they were
Democrats from principle. and they were
able and honest men. Peace to their
ashes, and would that the Democratic par
ty were as well led to-day. Both of them
believed in maintaining the financial credit
and honor of the government untarnished,
and if they were alive both would be
sound-money men to-day. They believed,
as Jefferson and Hamilton did,, in a BIZ
metallic currency of gold and silver coin,
based on the commercial value of the met
ais, maintained at parity with each other
and -nterconvertible at par. They believed
in confidence as a prime element of pros
perity, and they were opposed to repudia-
ton in all it's forms. In his letter accept
ing the nomination for President Mr.. Til
den said:
The government ought not to speculate
on it's own dishonor in order to save the
interest of its broken promises which it
still compels private dealers to accept at
a fictitious par. The highest national hon
or is not only right, bu- would prove prof
parent of loss in all business. Never were
its evils more felt than now. Men do moth
ing because they are unable to make any
calculations on which they can safely
rely. They undertake nothing because
they fear a loss in everything they would
attempt. They stop and wait. The mer-
chant does not buy on the future consump-
ton of his customers. The manufacturer
does not make fabrics which may not re-
fund his outlay. He shuts his factory and
discharges his workmen. Capitalists can
not lend on security they consider safe,
and their funds lie almost wltnout inter
est. Men of enterprise who have credit
or securities to pledge will no. borrow.
Vast masses of currency lie in the banks
unused. The public mind will no longer Gc-
cept shams. 1t has suffered enough from
illusions. The people need to know that
the government is moving in the direction
of ultimate safety and prosperity and that
it is doing so through prudent. safe and
conservative methods. which will be sure
to infict no new sacrifice on the business
of the country. Then the inspiration of
new hope and well-founded confidence will
and prosperity will begin to return.
No better picture could be drawn than
this of the present paralysis of business
caused by the uncertainty of the times and
the lack of confidence. When Mr.. Tilden
drew this picture the Democratic party
was opposing the resumption of specie
payments, which had been fixed by law
to take place three years later, and bust
ness men were in doubt as to what would
happen. If the Republican party succeed
ed they knew specie payments would be
resumed, but If the Democrats succeeded
they did not know what would happen.
The situation is much the same now. I'm
certainty, suspense and lack of confidence
prevail. Business is paralyzed. AS Mr.. TIL
den wrote. Men do nothing because they
are unable to make any calculations on
which they can safely rely" The cause
Of the paralysis is the free-silver agita-
ton. Business men know that If Mckinley
is elected there will be an immediate re-
vival of confidence and prosperity. If Bry-
an is elected they know there will be a
panic. Hence, as Mr.. Tilden said. they
stop and wait" If he were alive he would
denounce the present free-silver agitation
as opposed to sound financial principles
and fatal to confidence and prosperity.
Two years before his first candidacy for
Vice President, Sept IA. 1874. Mr.. Hem
bricks addressed a Democratic mass meet
ing on the Circle. In this city. 1t was in
tended as a keynote speech. Referring