Press enter after choosing selection

Tuesday's Elections

Tuesday's Elections image
Parent Issue
Day
11
Month
October
Year
1878
Copyright
Public Domain
OCR Text

Ín Indiana the Demócrata carnea the State ticket by frora 10,000 to 12,000 majority. The Congressional delegation is divided : Demócrata, 6 ; Republioans, 6; Democratie National-Oreenbacker, 1. The Legislatura stands : Senate - DeinocratB, 24 ; Republicana, 25 ; National, 1. House - Democrat8, 54 ; Republicana, 45 ; Nationals, 4. In Iowa the Republicans made a clean sweep, beating the oonglomerate Democratic-Greenback ticket by over 20,000 majority, and electing all the nine Congressuien. Last year the Republicans only oarried the State by a plurality over the Democrats an# Greenbackers running separate tickets. Not uiuch made by fusión. In Ohio the Democrats lose their State ticket, but gain three ineinbers of Congress : by redistricting. The NationalGreenback vote was a stnall affair. West Virginia went Democratie. Moke greenbacks and better times, " fíat money " and higher wagea, are now the joint cries of the demagogue and the honi'st but deluded laborer. And yet there is now more money in the country - gold, silver, greenbacks, and national bank-bills (the last two representativos of money) - than can be used in all the avenues of trade or business. Mouey or capital is not what is needed. Conti - dence is the onejthing lacking, the one thing wanting to stimulate manufaoturing, produoing, traffio, and business of all kinds. Capital is shy and hides itsolf in time of financial distrust and upheaval. Capital will not come out ('rom its place of deposit and seek investment in railroads, maufactories, farming, or other ventures, while the demagogues and their honest but deluded followors threaten to overturn all the financial interests of the country ; to repudíate honest debts ; or to flood the country with an inflated, irredeemable, and comparatively worthless turrency. Capitalista are conservativo, and a restoration of the currency to a sound basis, the establishment of a currency convertible at all times into gold and silver coin - the money of the Constitution and of the world - is the one thing ueedful to cali dormant capital into activity. No more money is wanted, but an assurance that the money of the future shall not be a depreciated currency. Stop ignorant Congressional tinkering and the mouths of blatant demagogues and dangerous disorganizers, and give assurance of permanency, and money will flow freely into business channels and capitalist and laborer prosper alike. Those Michigan Democrats who don 't like the platform put forth at Lansing, and who laud the Deinocracy of Indiana, Ohio, and Pennsylvania as wiser than the üemocracy of Michigan, would do well to read this language of Andrew II. Dill, the Democratio candidato for Governor of Pennsylvania : " In ray judgment there is but one sound rule by wbich to regúlate the curreucy ot the country. It is to niaiutain it as equal in value with gold and silver, the coustitutional standard of mouey ; to maintain the simplest and cheapest chaunel through which it eau reach legitímate trade, and limit it aolely by the legitímate demands of the busiuoss jntereata of the country. Irredeemable paper ia a lie upon its face, for all money continua on its face, the promise to pay, and it is as poiaon to healthy industry ; but redeemable currency mamtaiued at equal value with the coustitutional standard of the natiou, should be accessible m such volume as the varying wanto ot trado reqmre. The volume of currency should be beyond the control of gamblers and speculators, such as have depressed all valucjs in a day by locking up mouey, and beyond the power of partisan olficials to employ it as a factor in political cumpaigns, at the uost of the stability and trust ot business." " Gold and silver the constitutional standard," no " irredéomable paper," truthfully brauded as " a lie upon its face," and the volume of currency placed " beyond the power of partisan officials," in Congress or in the Treasury department. That is old and sound Democratie doctrine, and solid common sense. It is the same doctrine the " old fogies " of the Lansing convention eicbodied in the platform which certain so-called Democratie papers make it their weekly pleasure and business to repu diate and revile. Mr. Shüpe, of the 2f. Y. Advocate, is the apostle of greenbackism in the East as Brick Pomeroy is in the West, and both these apostles are advocates of both an irredeemable and an unlimited issue of greenbacks. How this "fiat money" is to be put in circulation Shupe tells : "The Greenback party - it will soon cali itsell the National Democratie party, because there are so niany Demócrata in it who wili wish to cling to their own Dame - will elect a Congress which shall issue $1,500,000,000 and shall spond the money in a vast system of internatioDal improvemeuts. The Ene Cuual will be widened so as to admit sea-going vessels and will be extended from Toledo to Chicago. The Mississippi Uiver will be widened as far nortb as St. Paul. The southwestern Territories will be trnversed by railroads, which shall open up the resources of the land, while the laud itself will be freely given to whoever will till it. For three years f600,000,000 will be issued by the National Goverument and paid to laborinf? men. There will be no auch thing as au unemployed laborer. Production will increase, busiuess enterprises will be stinmlated, money will be plenty, and pro8perity will return." Will somebody teil us how much greenbacks will be worth with $1,500,000,000 in oirculation 'i Our Democratie friends who don't like the financial plank of the Lansing platform, but wanted the lead of the Ohio Democracy followed, are at liberty to moralize over the resnlt in Ohio on Tuesday last to their heart's content. A year ago Bishop, Democrat, was elected Governor by 22,000 mnjority. Last Tuesday the Kepublicans carried the State by from 8.000 to 10,000 inajority. By redistricting the State the Demócrata gained three Congressmen, - the new delegation standing, Demócrata, 1 1 ; Republicans, 9. Neither the soft-money wing of the Demooracy nor the National-Greenbackers can derive any consolation from the renult in Ohio. The "Ohio idea" will prove a losing one in the long run.

Article

Subjects
Old News
Michigan Argus