Year: 1869

JeaSeU OH Jneso idWb vi our iu0 anu
growth, and repudiating the doctrine
that "might makes right" American
Democracy holds that liberty consists in
the obedience of all to just laws; that
these laws should be the fewest and
simplest possible, leaving the utmost in
dividual freedom of thought and action
consistent with equal rights and impair
tial justice, and where individual action
must be regulated by law, seeking always
"the greatest good to the greatest num-
ber."


This is the Democracy l believe in,
and to which am proud to belong.


Permit me, therefore, to indicate,
among the measures called for by the
present exigencies, the following, in ref
erence to:


Our Public debt;


Currency;


Revenue and Protection;


Glass Legislation;


Offices and Tenures


Executive Patronage;


Suffrage,


And the Caucus System.


The enormous interest OH our public
debt is producing the most fearful in
equalities in the distribution of capital,
bringing the government into the money
market as a borrower at an average OF
l l J per cent. per annum, currency, in
terest, 7.30 per cent; premium, say l.sO
on the coin exemption, 2.40 from taxa
ton, 1l.5O per cent. to compete with the
private borrowers and, moreover, giving
to bankers holding it's bonds not only
the interest but the right to issue notes
on their credit, and use them as money
under the National banking law.


This is forcing the life blood of capital
from the West and South, in fact, from
all the extrenities where its circulation
is especially needed, to the great Eastern,
centers of capital and speculation, and
by putting an enormous price on capital
in country whose industrial and business
development requires great deal OF
cheap capital, is gnawing at the very
vitals of the industry and business oi
the great mass of the people.


To arrest these devouring evils de-
mands the most prompt re lemption Of
our bonds according to the law and
equity of their issue, and that National
Bank notes should be payable in coin on
demand.


To effect this we must dimish our ex
penses at home, established confidence in
our political and administrative stability
and increase our credit abroad, until our
bonds in foreign markets are worth what
our ability and certainty to pay warrant
and then from the proceeds of the sales
of new issue, bearing reasonable inter
est and subject to reasonable taxation
promptly redeem every existing bond the
moment it becomes due.


No local declarations inviting popu
lar prejudgment of any legal questions
about the terms of payment of the ma
tional bonds, should impair the priceless
value of the public credit, at time wher
it is all important to create the speedies'
means of ridding the country OF these
enormous expressions, but every Demo
cratic platform should tend to raise
higher the public credit, and to satisfy
the people of Europe that the Democratic
is the last party in the United States
that proposes to whine, or act reluctantly
about paying the public debt, even though
present holders should have brought il
below its par value.


2. An irredeemable paper currency, ol
one perpetually fuctuating in value, is ;
gigantic fraud upou tho people, con
centration of the evils of false weights
false measures, and worse, injurious tC
all classes, but especially to those wh'
live by labor.


The Democray should assert with re
newed vigor aud determination, its ole
declaration in favor of a specie basis anC
paper currency, convertible at par int'
coin at the will of the holder, and SHOULD
take prompt and efficacieus measures t.
raise our bond to where the seeurit!
they offer and interest they bear ough
to place them, so as to draw greenback
after them to par with the least possibl
delay. This will relieve all classes
especially the laboring, and augmentinl
the value of our circulation twenty-tiv
per cent, give healChy and vigorou
impulse to every department Of busines
and industry.


8. The fundamental principles Of fre'
trade, and that all taxation should fall a
directly, in proportion to their ability u
pay, have always been held by the De
mocracy. The aim of its Legislation
must, therefore, be as much as possibl
to reduce the amount and diminish tn