The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1867-10-03
the people tho whole Eve hundred

r. Y -. 7-r-0 + - = "NiSO
ana Sixty mliiioons. .
"bpt now IS " as 10 the rest; tho
vast sum OF more than twenty-five
hundred smiilions! IL would de,
precla'e 70 me same extent, ano
lne loss 10 somebody would DC sew.
en.een en-, hqncred al, and Sixty millions
VINO pears " me oondhoIdors
say me Demoefatic orators ano
curse -the ;pondholders' In oring.
ing Cne mater 20 thls, we at leas'
plpck away the mask from these
gentlemen ana snow that theli
prctense mat nobody IS 10 lose, and
mat they don 7 mean Repatriation
Is a deceptlon ana a sham
AS for repudiating or paying in
irredeemable currency, which is
the same thing, the bonds held by
hupdfedssof millions by, foreign
bondholders, the Governor said:
aIf;itowere some bagatclle often
or a dozen millions, a kind of Mis-.
sissippi repudiation, they might
stand It, but when it5comes to a
thousand millions or thcreabout, |
strongly suspect that the four great
powers together might persuade
even Vallandigham and Thurman
that.it was cheaper to pay. Just
try to imagine, you business men,
a war for the sake of repudiation
a war to make Government credi.
tors take irredeemabIe Treasury
notes for their bonds, when you
have just made those Treasury
notes nearly valueless. and taken
pains to destroy ID advance the
only credit by which you. could
possibly carry on q war The coun,
Try swamped by this, lmmeasura'
bic imitation and rum OF the eur
rency, and a war with the whole
civilized world on your hands
who would these gentlemen borrow
from to pay the cost OF sucn a war;
What kind OF faith would they
pledge for paymentf Ana II they
tried to raise the means by taxa,
ton, how much easier would IL De
Tor the people TO pay the taxes ana
TO night IN the cause OF knaVery
and swindllng than 1T would 90 q
pay the debt itself like honest menF
depreciation docs not take pace
Immediately upon the issue OF cur,
rency, outit rs always a gradual
process, the lowest point not beng
reached tiliall the channels OF bus
mess, big and little, are hiled by
the new imitation.
"Suppose you force upon the
country this vast amount ofcurreu
cy which the Democrats propose,
how much of the loss by ,deprecia
ton will come upon the first ro
ceiver. and how much upon the
country at large? The man who
gets pay fora thousand dollar bond
starts .he currency ~ c'ieui".,Vn
lmmedla'elY,,not walt'ng ior ~ I, 70
aaeprecla'e' ne pays nus oculS
WIN " anu snrewa eupl.u.,s's NJ w.,
aaVe schse enough " li"uo uso's
aa. ""o"io oo",iu fHr :. . ,,n Y not not tor.
20, tp,u's' tI". ,o,to, ~, ! INV % mmoh tho
So : ;.nanar .n' ,,ot, ro' dawn u vii nav
Gu,I"05 [o ~ 3 81 uU% T.o,, haro P, pds
= a., I'd ',T aOld ] mnr,bs 5esaro for .he
% anoas o1 von . haro Sold and delirorad
ooas ~ :, = = @ sanrn,.oa " to,,t hns,.
~ - ".' wv ',auN'' ,,n,,nd a''t. IA oil II,
s,,o,o m"' y y Soro' liz ',noh I M ,ha Town
pr9hugo ",,p ,' irao ~ :, - I'o.A tn I ani, Tho
O,S :, ,.oa,o,. ""r0 nor, ''0 hv 9or " ,bo Greater
9ar, ,hon "ct ~ 10 ~ Ioss bv the da.
Pros;a,ion pas % ,nonid w. rocossor;ln como
pE mon the communitv NJ a whole,
and not mon the bondholder who
Grst rocc;res tho hills
IRON Whatever Po'ht OF we"
examined' we sun nhu run lor .. .hI
country, ana Tor lhe whoie country
following from this insehsa'e ana
dishonest scheme
"But, it may be said, If the bur
den came back after all upon the
people, why object, since they will
only have paid off their own debt
"The objection would be that
instead of paying off the debt grad
uaAy, andas'the countryis able to
bear 1t, it would be done suddenly,
which could not be porne ny any
people in the case of debt OF such
II size. We may pay the debt, We
will say, in thirty or forty years,
without extraordinary suffering,
but TO pay Tin three or four would
be beyond our power. The same
Democratic orators, when they had
other points to make, have been
accustomed to asseverate that the
debt was nearly or quite as great
as the whole value Of property in
-
the country, and they will be the