Page:Speeches, correspondence and political papers of Carl Schurz, Volume 3.djvu/478

for the resumption act, in spite of its imperfections, has proved far more effective than many supposed it would. In 1876 the Democratic National Convention demanded the repeal of the resumption act, not because the Convention was against resumption, but because, according to its declaration, it was earnestly for resumption; and because, as was pretended, the resumption act was an obstacle to resumption—a thing which I have never been able to understand. And now your Democratic convention and many others demand the repeal of the same resumption act, not because it is an obstacle to resumption, but because it has brought it on. And indeed, unless they hurry up that repeal quickly, it will appear like the repeal of last year's almanac. Now, what is the meaning of this demand for the repeal of the resumption act? Here stands the Government, and says, “For sixteen years we have promised to redeem these Treasury notes on demand, dollar for dollar—a dollar in coin for a dollar in paper. For sixteen years that promise has stood dishonored. Now I am able and ready to fulfil it. I am able and ready to make and keep the pensioner's and the laborer's dollar, the merchant's and the manufacturer's dollar, as good as the bondholder's dollar. I am able and willing to give to the business of the country the safe foundation of a sound currency, uniform and stable in value in harmony with the money of the world. All I want is to be permitted to execute the law.” Whereupon you, my Democratic friends, answer: “Whether you be ever so able and ready to do all this, we say you shall not do it”; and then you proceed with a number of propositions, each and all of which are designed to take and keep from the Government its ability to perform its long dishonored promise, and to do the beneficent things it stands now ready to do. The Government says, “I have now some $346,000,000 in greenbacks to take care of. With the coin I have, I feel