Year: 1876




That certain Democratic papers in their treat
ment OF those who are not of their opinion, rely
more upon insults than arguments is disagree
able fact, We had hoped for a respectable
campaign, and we believe that great majority
of the citizens of this country share in the wish
At all events, we believe that facts and reasons
will have more weight this year than nvidious
rhetoric. Let US address ourselves then, with
the former to those with whom sound finan-
cial policy can be honorably and earnestly dis
cussed.


lt is generally admitted and undisputed fact
that while the Republican patty is not alto
gether free from initiation elements, nine-tenths
of the intiat,onists and repudiators are in the
Democratic ranks. All important elections in
which the finance policy stood in the foreground
have been conducted by the Republicans and
Independents, as the defenders of hard money
against the Democrats as the supporters of in
flation We recognize with pleasure that in the
accepted platform of the Democratic National
Convention some progress has been made in
this respect. 1t pronounces in favor of hard
money,-only in theory, it is true, but even
that is some gain in com parison with the Demo-
cratic State platforms of this and the preceding
year. and we bid it welcome. But as the first
practical measure for the carrying out of this
hard money theory, the Democratic platform
pro oposes-Wha4 ? The repeal of the resump-
tiou clause of the act of 1875 which fixes the
resumption of specie payments in the year
1879


In respect to this Resumption act of 1875, we
criticised it freely at the time for in its details
providing for the bringing about of specie pay
ments il was not sIrong and express enough.
On the other hand, however, we cordially
praised it, for the reason that the Jaw settled
the promise, and therein the duty of the Gov
ernment to begin at a certain time the redemp-
tion of the paper money Indebtedness. In this
promise, this express recognition of an exactly
defined duty of the Government a great gain
was made, for the discussion about specie re
sumption thereby stepped over the kingdom of
generalites into the domain of the defined.
LII the law which contains this promise was
not perfect in all details then there remained
but one duty for every honest supporter of q
hard money policy, namely, so to perfect these
details that they should prove adequate to the
purpose. But what does the Democratic plat
form propose? Not to complete the law and
render it sufficient for the accomplishment of
its object, ut in word to recall that promise
And what does the repeal of the Resumption
act signify? Nothing else than the open re-
pudiation of promise given by Congress in the
form of law of duty solemnly recognized by
the United States Government.


The reason which the Democratic platform
assigns for this reputation, is that this promise
of resumption lin fact Stands as " hindranceJ'
in the way of practical resumption. We take
the liberty to say that this is consummate non
sense; it is very transparent evasion to cover
up step of which every honest hard-mUney
man must be ashamed as piece of deceit and
treachery.


Everybody knows that the repeal of the Re-
| sumption act has been the battle-cry of the in
tlationists for the past two years. In Congress,
at every opportunity, they have made this re-
| peal the goal of their exertions, and in every
| one of their state platforms they have stoutly
| demanded the same thing. And now come
/ the friends of hard-money into the Democratic
| National Convention and agree to the repuda-
| ton of this promise. That is the simple state Of
the case.


/ the repeal of the promise of resumption will,
| in conformity with their platform, become their
| very first step. The inhationists will eagerly
lead on the attack, and the Democratic friends
of hard money will assist them in it. And
what more? The Democratic platform speaks


of host of other things, by which the way for


resumption of specie payments must be pre-
/ pared as economy, &c. Now that is charm
| ing. But we know this talk We heard it du-


ring the Ohio campaign of the preceding year.
| fro n the lips of Messrs. Ewing, Pendleton, &c.
| The same arguments were use at that time to
| persuade the people that the resumption of


specie payments must not be thought of for
| long time still to come. What at that time,


then, served as ground against resumption



| platform as a means for its accomplls hment.


No right-thinking man can come to any other
| conclusion than that this platform with its ex-


press reputation of a promise made in the


form of law, is, in spite of all its beautiful


rhetoric about harmony, nothing else than
| concealed, and indeed very miserably con-


cealed, compromise with the inflationists. This


compromise appears still more clearly in the


choice of candidates. That Mr.. Tllden is o


hard money man, we believe. That he would


make every exertion to carry through a sound
| financial policy we accept as true. Whether


he would succeed amid the too.powerful intia-


tion elements of the Western and Southern


Democracy, we doubt. But the Democratic


Convention has placed by his side as the vice


President candidate Mr.. Hendricks.


Who is Mr.. Hendricksl As is universally


known, he is the pet candidate of the imitation,


lists. If, then, Mr. Tilden should be elected and


then die; if any fatal accident should befall him


what then? Then Mr.. Hendricks, the leader


of the Democratic intationists would be the
| President of the United States. That might be


termed far fetched possibility but it is not so