Year: 1876

the DemOcrablc doctrine Oh ludt sun
ject in a clear argument. Publ


opinion had so far veered arourd il


the meanwhile that the Legislntnr
chosen that year repealed the Baxte


bill during the following winter, tn


Senate, which was Republican. voting


with the Democratic House. Thu
| Mr.. Hendricks course on the liquo


question may be summed up by saying


that he concurred in popular tempe


rance legislation, which he could no


prevent, and after fair test urged tht
substitution of better system for tht


Baxter law. The whole Legislative
session of 1875 was a struggle between
the House and the Senate for partisan
advantage, and the decisive stroke BY
which the governor, who had watched
the contest impartially, stepped in iT
behalf of the public good and put
an end to the strife, was admirable
The session was limited by law, and
the Republican Senate, adopting the
tactics which the Senate at Washing
ton is now pursuing, refused concur
renee in the measures urged by the
House, and, although conference COM
mittees had agreed upon all vital
questions, delayed action until after
midnight on the last day, hoping in
this way to block the business of the
State or force the Democrats into a
long and expensive extra session,
which would condemn the party in a
Granger community. The session
closed on Saturday night, and the
governor issued his proclamation on
Monday reassembling the Legislature
on Tuesday, without giving the mem
bers chance to scatter, and politely
suggesting that, although they had a
right to stay forty days, it would be
much healthier for them to do their
work and go home before the close of
the week. They gathered together
like little lambs. The whole scheme
of making party capital, one way OF
other, was abandoned. They took up
their work where they had laid ir
down, finished it, and were gone by
Saturday, much to the qualification of
all good citizens.


Since the action of the Cincinnati
convention refusing to endorse the re-
sumption act, the financial issue will
not be likely to play an important part
In the campaign, but it may be well to
give some facts in regard to Governor
Hendricks course during the great
currency agitation of the last two years.
At the beginning of the clamor for
money, in the fall of 1873, he was not
in any way called upon to express his
opinions on financial questions, and al
though his convictions on those topics
were based on sound old Democratic
principles, it was his nature to sympa-
thiZe with the distress which he saw
about him in every direction rather
than set out to preach to the people
the narrow and difficult path to saliva
ton through self-denial and suffering.
The strength of the popular conviction
that relief was possible through infa-
tion could hardly be over-estimated.
Some believed firmly that unlimited
quantities of paper money issued ON
the faith of the Government was the
true American theory of finance. 9th
ers knew that such an issue of ire
deemable paper would only afford tenn
porary relief, to be followed by greater
disaster, but they hoped to be safe be-
fore the next storm, if they should
weather that which was on them. All
advocated the initiation of the currency
with ferceness which brooked no re-
sistance, and old-fashioned leaders,
who might have thrown themselves
across the course of popular opinion
had they imagined what way it was
tending, found the tide grow too
strong and furious to Withstand and
most of them went with it. Whoever
was recognized as a hard-money man
was considered insome sort as a traitor
to the West and public enemy. The
feeling on this subject has been modi-
fed to a great extent during the past
year, and the objective point of the
paper-money men has changed. The
purpose now avowed is not an increase
of the currency SO much as the main
tenance of the present standard and
the substitution of greenbacks for ma
tional-bank notes. The movement
has ceased to be wholly aggressive.
Under the circumstance, the course of
Governor Hendricks, when it became
his duty to take an active part In the
discussion of the issues of the day in
the canvass of 1874, was wise and man
ly. To be sure, he did not advocate
the sound theories of finance with the
vigor of Kerr or proclaim his convic-
tions with the good-tempered frmness
of Mcdonald, but he maintained his
opinions none the less effectively, be-
cause he adopted conciliatory tone.
He presided over the Democratic con-
vention held in July at Indianapolis,
as we have already said, and in his ad-
dress on taking the chair argued that
gold and silver were the true basis of
our currency, and the proper method Of
returning to specie payments was
through the growing-up process-the
development of the resources of the
South, the increase of production and
retrenchment of public and private ex-
penditures. The platform adopted by
the convention was an essentially un-
sound one so far as the financial planks
are concerned, and the subsequent can
vass Mr.. Hendricks took occasion to
define distinctly the points of differ
enee between its doctrines and his own
opinions. How many of the politi-
clans who have been so glibin censuring
him would have done as much? It is
common among Republicans in the
East to pretend thatin this canvass the
currency issue was drawn between the
two parties. The fact is both were
strongly for initiation, and the victory
of the Democrats was won on the gen.
eeral record of the Administration of
which the panic of 1876 had broken
the prestige. In illustration of Mr..
Hendricks teachings at this time, we
give an extract from his address to the
Democratic convention. After argu-
ing against the hasty contraction of our
paper circulation, checking labor and
paralyzing enterprise on the one hand,
and against undue imitation, which
would lead to depreciation and reck-
less spirit of sPe culation and adven-
ture on the other, he said:


We desire to return to specie pay
ments. 1t is a serious evil when there
are commercial mediums of different
values; when one description of money
is for one class and purpose and an
other for different class and purpose.
We can not too strongly express the
importance of the policy that shall
restore uniformity of value to all the
money of the country, so that it shall
be always and readily convertible


That gold and silver are the real stand
ard of value is cherished Democratic
sentiment. not now nor hearafter to be
abandoned. But | do not look to any
arbitrary enactment of Congress for a
restoration of specie payments. Such
an effort now would probabiV Droduce