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Editorial July 6, 1876

Nebraska Advertiser

Auburn, Brownville, Calvert, Nemaha County, Nebraska

What is this article about?

Editorial praises Republican National Platform's rejection of immediate specie resumption, supports interconvertible bond for gradual return to gold standard, and reproduces endorsing resolutions from Indiana's Eighth Congressional District Republicans, opposing Sherman bill contraction.

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The Financial Plank in the National Platform.
It is a matter of congratulation that the majority of the committee on the National Platform refused to accede to the demands of the minority of its body, who desired to endorse the resumption act, and to enforce an immediate return to specie payments.— There can be no doubt that there is a great difference of opinion in the Republican party, as well as in the Democratic, as to what measures will most readily (to use the words of General Hawley in the late Republican Convention) bring paper to par with gold. "We are and have been in favor such a policy as, in the language of the Ohio Dispatch, will most readily bring about such a condition of affairs as that 'the purchasing value of greenbacks will equal coin,' without destroying them. We accept the financial plank in the National Platform as entirely consistent with this view, and believe that a 'continuous and steady progress to specie payments,' or that which is equivalent to it, can most readily be obtained thro' the interconvertible bond, and that when it is well understood it will be accepted by the people as the only smooth road out of our present financial distress. We are glad to find that our views upon this subject are in consonance with those of the great body of Republicans in the West, and we reproduce here, and call especial attention to, the resolutions adopted on the 21st inst. at Terre Haute, Ind., by the Republican Congressional Convention of the Eighth District, which nominated the Hon. Morton C. Hunter, for Representative in Congress. They are sound to the core, and have the right ring. They are as follows:
Resolved, That we, the Republicans of the Eighth Congressional District, in convention assembled, do hereby indorse the nominees of the National Convention at Cincinnati, and that we recognize in the choice of that body the Centennial watchword— honesty and capacity are the only two passports to office.
Resolved, That greenback money was conceived by, born from, and is therefore the legitimate offspring of the Republican party, and we deny the rights of the Democratic party to adopt it or become its special guardian; and that, whereas greenback money was accepted by our soldiers in payment for hard services rendered in the field in suppressing a Democratic rebellion, and is now accepted by their pensioned comrades' widows and orphans, we demand it shall appreciate to the gold standard only by such process as shall be fully consistent with the prosperity and integrity of the nation.
Resolved, That we favor the immediate and unconditional repeal of so much of the Sherman bill as provides for the resumption of specie payment on the 1st day of January, 1879; that we are opposed to all schemes for the contraction of the currency. We are impressed that resumption must be brought about by developing the industries of the country and not by destroying them.
Resolved, That we are in favor of maintaining a sufficient tariff to fully protect home industries of all classes.
—Inter-Ocean.

What sub-type of article is it?

Economic Policy Partisan Politics

What keywords are associated?

Financial Plank National Platform Greenbacks Specie Payments Resumption Act Interconvertible Bond Sherman Bill Republican Convention

What entities or persons were involved?

Republican Party National Platform General Hawley Hon. Morton C. Hunter Eighth Congressional District Terre Haute, Ind. Sherman Bill

Editorial Details

Primary Topic

Financial Plank In Republican National Platform

Stance / Tone

Supportive Of Gradual Resumption Via Interconvertible Bond, Opposing Immediate Specie Payments

Key Figures

Republican Party National Platform General Hawley Hon. Morton C. Hunter Eighth Congressional District Terre Haute, Ind. Sherman Bill

Key Arguments

Majority Rejected Minority Demand For Immediate Resumption Act Endorsement Favor Policy To Bring Greenbacks To Par With Gold Without Destroying Them Interconvertible Bond Enables Steady Progress To Specie Payments Greenback Is Republican Offspring, Deny Democrats' Guardianship Appreciate Greenback To Gold Only Consistent With National Prosperity Repeal Sherman Bill Provision For 1879 Resumption Oppose Currency Contraction Schemes Resumption Via Industry Development, Not Destruction Maintain Protective Tariff For Home Industries

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