The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-09-13
The Question of Natioaal Finances.


Cincinnati District, and one, of the
best pested-men IN the country, in
financial matters. diseassesthe ques-
ton in the following lucid manner:
You have read in tbs. current his
tory of the war of cases where the.en-
Eemy, in the graylight of the morning,
advanced upon our lines, carrying the
Stars and Stripes, and clad In the blue
uniform. The object was to surprise
our men, I am reminded f this by
the recently adopted policy of the
confederate Democracy of this co un-
try with reference tothe payment of
the public debt. All at once the
leaders have become yirtuous. They
are In favor of paying the debt. This,
Vallandigham says, will surprise the
Republicans, who expected the Dem
Iocrats to favor reputation. We. are
only sur prisedsthat the leaders ofthat
party should be so silly as to take the
people for a pack of FOOLS The trick
is so transparent that man with one
eye, and that only half open, can 5 see
through it. Now, do you want a def
inition-a Democratic defnitionTof
the proposition to pay the debt in
greenbacks? Well, here it is. I take
it from the La Crosse Democrat, a pa
per edited by Brick Pomeroy,E of
whom you have doubtless heard. He
is an orthodox Democrat, and belongs
to the Valiandigham school:
Republication of the National Bank
swindle is sure to come, and that
quickly, Better now than after we
have paid taxes for one or a dozen
years. The idea of calling in the
bonds, and substituting greenbacks
for them, is repudiation, but sugar
coated to relieve the bitterness. 1t is
the tinder-or the tender.y {
Call in the bonds. u -
Issue interest bearing greenbacks
for them-dollar for dollar.
AS interest accrues, issue scrip,
and scrip upon scrip, till those who
want paper money can buy trunk
full for a dollar.
HPayneithers principal or interest
in CONDUIT In green back or red
back script. Employ presses and pa
per mills and run them eternally, the
workmen to be. paid at night from
the stuff they printed during the day
s" Call it whatyou will-sugar-coat
it as you may-it is Reputation, and
to this is the Democratic party
already pledged, and
no man can, alter this year, be elected
to Congress or the Presidency WHO'S
not pledged for Reputation, and who |
is not brave enough and true enough
to.stand there a faithful guardia for
those who have noifriends at court or
in power. "fr:1- ovf s"} eVs es,
Are you, in favor of that policy?
The proposition to pay the debt in
greenbacks is, as he says, reputation |
sugar-ceated~If L have to swallow |
Reputation l prefer to take it raw
Let us Sew hatthis greenbackL the |
DRY would lead to-, The Goyernment /
can now take up the bonds in green /
backs if it is abte.9g Anybody can go
into the market and buy them for
greenbacks. But the trouble with /
the Government is, it has not the
greenbacks. This is a trouble we all
But Democrats will say:
Issue greenbacksF Well, greenbacLs
are good now, but if fhe Government
print ing presses were started they
would not be near SO good. In fact. Il
gold, In that event, would go up like a i
rocket, and greenbacks would 90 4
down like stick. Do you desire that? /.
f you favor Republication that,is sure, /.
way to reach it.sl..ae 10 bsaIpiai ri lsfG /
The Secretary Of the Treasury y frnldts55I I
himself unable, under his policy. to /
'etire tie currency obligations which H
ire maturingT yHetook up last month
s28, 000,0O0 compound notes and So Il
100000 in sevenrthirties4 These he
paid for. largely in greenbacks,
nut Gthe greater 9Psffi0n of EtRose j
sreenbaeks he9Igbtained by sell
ng gold bonds. He increas- I
d the issuesleof the latter $33,- /
anne % nefI R5ws9 e PS99 fb he
That was paid IN graeenbacEs. IF he
lad sold the surplus GOLD in the |
Treasury he might have cancelled thelE
Whole amount of securities taken up.I
n August without issuing dollar in {
III The e0n 55hBg01 D snaoGatssiAfc policy
which Mr.. McCulloch is carrying out
s bad one" 1t was voted against {
~ majority of heRepnbliean mem
,ers of Congress, but the Democrats /
Toted very nearly solid for it. and t
.dopted it. Now they talk about re- a
leeming the bonds in greenbackslts r
The true poGcyis to let the curren- a
y alone; to give the country repose; t
o keep up the revenue and use the f
urplus to retire the currency debt as c
t natures; to issue no more goldP
'onds. Let this policy be pursued g
nd we shall get ,7our0 bonded debt |
nto manageable shape. Then the 7
.reenbacks may be gradually retired, v