The United States Since the Civil WarLingley, Charles Ramsdell
History
The United States Since the Civil War
Lingley, Charles Ramsdell
United States -- History -- 1865-1921
In the elections of 1874 the Republicans were severely defeated, and it
was seen that the Democrats would have a clear majority in the next
House of Representatives. Hence the Republicans hurried through a
resumption bill on January 14, 1875--a sort of deathbed act. It
authorized the secretary of the treasury to raise gold for redemption
purposes, and set January 1, 1879, as the date when resumption should
take place. As in the case of the tariff, the political parties found
difficulty in determining which side of the resumption question they
desired to take. Although the Democratic platform of 1868 contained a
greenback plank, yet some of its leaders opposed, and the state
platforms of 1875 and 1876 demanded resumption. The national platform
of the latter year both denounced the Republicans for not making
progress toward resumption and demanded the repeal of the act of 1875,
without disclosing whether the party was prepared to offer any
improvements. In November, 1877, a bill practically repealing the
resumption act passed the House--the western and southern Democrats
furnishing most of the affirmative votes, assisted by twenty-seven
Republicans. A resolution declaring it to be the opinion of Congress
that United States bonds were payable in silver was introduced and
advocated by many Republicans. On the other hand, eastern state
Democratic and Republican platforms were much alike. Apparently,
therefore, differences of opinion in regard to the greenbacks and
resumption were caused as much by sectional as by party considerations.
Public-domain text, read in full here on John Shaqi.
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