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The Indiana Democratic State

The Indiana Democratic State image
Parent Issue
Day
17
Month
July
Year
1874
Copyright
Public Domain
OCR Text

vention was held on Wednesday, Gov. Hendeicks presiding. The convention was large, every county being represented. The following ticket was nominated: For Secretar! of State- J. E. Neff. For Auditor - E. Henderson. For 'l'reaturer - B. C. Shaw. For Superintendent of Public In&truation - J. H. Smart. For Attorney-Gcneral-C A. Buskirk. For Judge of (jnpreme Court - P. Biddle. Tho platform adopted has some good features, but we cannot commend the rosolution ia favor of substituting greenbacks for tho national bank currency. The return to specie paytnents declarad in favor of by the fourth resolution will never be made with such an increase in the volume of greenbacks as is contemplatcd by tho third (or substitution) resolution. The way to specie paymonts Hes throughretiringthegreenbackcirculation and the rocognition of coin as the money of the nation, the onbj legal tender : that and a free banking system, either national or State, with issues redeemablo only in coin. Again, the demand of tho fifth e8olution, " in favor of such legislation from time to time as will adjust the volume of currency to the commercial and industrial wants of the country," is absurd. It is not within the provinco of Congress so to legislate, the average membor of Congress is incompetent to attempt such legislation, and tho average Secretary of the Treasury cannot be trusted with the financial interests of the country under such legislation. Give us specie as the money of the people, with banks with well-secured circulation redeemable in specie at the pleasure of the holder and no legislation is necessary to flx dr limit tho volume of currency. The laws of supply and demand will do that.

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Subjects
Old News
Michigan Argus