rency till it was all redeemed.

2. Surplus revenue might be used and bonds issued for the purchase of
coin.

3. That part of an act of 1870 which limited the amount of national bank
notes to $354,000,000 was repealed.

4. The banks could now put out more bills; but for each $100 they put
out the Secretary of the Treasury must call in $80 of greenbacks, till
but $300,000,000 of them remained.

5. After January 1,1879, he must redeem them all on demand.

%510. The Political Issues of 1876.%--The currency question, the hard
times which had continued since 1873, the rise of the Labor and
Prohibition parties, the reports of shameful corruption and dishonesty
in every branch of the public service, the dissatisfaction of a large
part of the Republican party with the way affairs were managed by the
administration, combined to make the election of 1876 very doubtful. The
general displeasure was so great that the Democratic party not only
carried state elections in the North in 1874 and 1875, but secured a
majority of the House of Representatives.

%511. Nomination of Presidential Candidates.%--When the time came to
make nominations for the presidency, the Prohibition party was first to
act. It selected Green Clay Smith of Kentucky and G.T. Stewart of Ohio
as its candidates, and demanded that in all the territories and the
District of Columbia, the importation, exportation, manufacture, and
sale of alcoholic beverages should be stopped. Two other demands--the
abolition of polygamy (which was practiced by the Mormons in Utah), and
the closing of the mails to the advertisements of gambling and lottery
schemes--have since been secured.

Next came the Greenback or Independent National party, which nominated
Peter Cooper of New York and Samuel F. Cary of Ohio, and called for the
repeal of the Resumption of Specie Payment Act, and the issue of paper
notes bearing a low rate of interest.

In June, the Republicans met in Cincinnati, and nominated Rutherford B.
Hayes of Ohio, and William A. Wheeler of New York. They endorsed the
financial policy of the party, demanded civil service reform, protection
to American industries, no more land grants to corporations, an
investigation of the effect of Chinese immigration, and "respectful
consideration" of the woman's rights question.

The Democrats nominated Samuel J. Tilden and Thomas A. Hendricks, and
called for reforms of every kind--in the civil service, in the
administration, in