Year: 1875

THE DEFEAT OF THE INFLATIoNIsTs-ESGI


INVESTMENTS IN AMERICAN SECURITIES


EFFECT ON THE PRESIDENTIAL ELECTION.


From the London Standard Oct. IA


The democrats have lost the one important election
Of the present year. The contest in Ohio which for
months past has been exciting SO much interest
throughout the United States and promising TO FORE
shadow the result Of the Presidential campaign twelve
months hence, fought Tuesday last, and the
republicans proved victorious by large majority.


At the beginning Of the canvass all the evidence
show that the majority Of the people Of Ohio
in favor OF further issue Of greenbacks. Ger
tainly among the republicans there strong ten
dency in direction. 1t is reassuring then TO find
that discussion has ayaled to change the majority
minority. No doubt the support Of imitation
wider departure from principle the part Of the dem
ocrats that Of the republicans, and it is
suppose that the discussion went on, and the
real points at issue to DO generally understood,
many staunch democrats shrank from giving their adj
heslon 10 a policy which hagrant contradiction
with all their antecedents.


Looked in its broad aspect from the point Of view
Of impartial foreigners The result of the election emf
nenty satisfactory 1t all fear Of imitation and
Reputation The ugly feature in many of the demo-
cratic speeches in this Ohio that they did
not merely call out for more paper Bsoney-that
might have sprung from mere errrone-
Gus theOry-but they also endeav0rcd TO
rouse odum against the public creditor Very large
numbers Of Eneshmen have invested their savings
American Of all kinds and il IL legitimate
subject congratuation that politicians animated by
ill-ieelng 10 such investors have failed TO
position IA which they might have been able
own ground and fought out the battle, and they
have been signally defeated We may hope that nia-
tionsts and epudiaonists viii disappear from Ameri
can politics Politicians o the same KIND were little
while ago prominent IN the republican party; they
nave been relegated 2 ooscurty. y = 70
the Aliens and the Careys OF Ohio. In
the interests Of the democratic party itself seems
10 US that the result Of Tuesdays election must be
considered beneficial If the niationists had
carried Ohio they would most probably have Hso
been successful in Pennsylvania three weeks hence
They would then have been able 70 appear in the
National Democratic Convention next session with
the almost undivided strength Of the West at their
back, and 70 insist If not upon the choice Of
Presidential candidate, at least upon some con-
cession 70 their views in the platform This
the delegates from New York and New Eng
land could not have agreed TO; and consequently
there would have been grave danger Of split IN the
party. Now that peril IS removed. The niIationists
are crushed and the control OF the democratic party
passes by right TO Governor Tilden OF New York and
his friends The main result Of Tuesdays vote then,
is 10 clear the democratic party from the suspicion of
being tainted with natonist repudiatontst views
70 insure It's fidelity TO its old historic prin-
ciplcs and to strengthen tho probability that
Governor Tilden will DO the democratic candidate
for the Presidency year. Unquesonably the loss
Of ONO strips u Of some prestige For two years the



election will generally be regarded proof that the
tido has turned and 4 kennsyyana Is retained by the
republicans the democrats will suffer serious de-
preston But whether the election has weakened the
party not II has certainly freed 1t from incubus
that might have crushed IL next year.


IL as generally admitted the Ohio election Is TO be
regarded the test vote may be inferred that the
Presidential contest next year will turn seemed
probable, upon the question Of resumption imitation.
The Eastern democrats az strongly in favor Of hard
money as the republicans Both parties, We may as
sumo therefore, will declare for resumption. There
remain, thenso far as see, only the questions
OF denuTnlnatEnal education and reform. !.