Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-06-07
VOL. xxxIv:. A1@o g,
The 6reauer1the Trush the Great-
erfthe Libel-The Payment of the
Public Debt In Greehbacks NO
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In recent article, we took occasion to
say, in respect to the favored classes of this
country, that the people are obliged to take
for their debts.whie the bond-
holders have gold; and that the money of
the people is subjected to, State andlocal
taxation, while that Of the bondhelders,
invested in their bond, is exempted. This
statement, the Radical State central organ
at Columbus, Ohio-the y Journal--says,'is
fair average specimen of Democratic
lying" True, thelJoarndl does not under
take to show wherein the statement is un-
true, for the simple reason that the effort
would have been unavailing, as it. is be-
yond the capacity of ltheGJouradl or any
other paper, to convince even the most un-
candid, that every word we said is not
strictly true, Is it not true thatthe people
are obliged to take legal tenders, green
baeks,l for their debts, while the bond-
holders are paid In gold Is 1t not also true
to State and local -taxation, while that of
the bondholders,s invested in bonds, is ex-
EN- ipted from taxation And that is styled
by the journal "a tair average specimen Of
Democratic lying!''' i791 ~ ~ t0ag rg .s-ii
:. IA spthe Josss1sdt was unable to prove our
statement to be false, it does just what all
weak minds are driven to, for the want Of
argument and proof: it resorts to misrep-
aresention' and abuse. .dt charges the En-
s4tiirer With wanting ftos-make the public
debt odioas, and; ii posible.s have Ii trepudi-
Hated.n We don't think that the telling of
the fact, that the people are Obliged TO take
legal TENDERS for their debts, while the
bondholders are paid in gold, and that the
money of the people is subject to State and
local taxation, while that of the bondhold-
ers, invested bonds, is exempted, makes
the public debt Odicus. 1t is the existence
of the fact, and its glaring favoritism that
creates the odium. Odious as may be this
favoritism to certain public creditors
against the great masses of the people, yet
we have, on more than one occasiap, det;lar-
ed our opposition. to repudiation; and we
have suggested a mode to pay this public
debt, the conditions of which are so offen-
sive to the popular idea of fairness, as to
make 1t iodieGs. We have suggested the
payment of the public debt with legal
tender notes.. The Journal will hardly
designate that as reputation. Gold and
silver is no longer the currency of the
country. 1t is merely an article OF mer-
chandise, so declared by the highest judi
cial tribunal in the land. The money
which debtors can compel their creditors
/ to receive, is that issued by the. Federal
Government, called legal tenders, aud vul-
carly known as greenbacks. Why shonld
there be favored classes, who are not COM
PEELED to receive that kind of money from
their debtors, but who can demand more
valuable medium of exchange, and if not
paid in that more valuable medium, caA
charge their debtors with bad faith? @
To pay the bondholders in the legal cur
rency of the country, can not be charged
las reputation any more than it can be
1charged as a debtor, who discharges his
1ldebt by paying principal and interest
| thereof in legal tender notes, that he re-
lpudiates his debt. Weare for paying the
bondholders in the currency the people
use, are eompelled to use, and which, the
law requires creditors to take from their
debtors in payment of. their claims,
whether those claims are evidenced by
bonds, notes or book accounts. And we
are afraid that unless they are paid in legal
I tenders, the time is not far distant when
Ethey will getnothing at all through virtual
inability of the people to pay Cincinnati
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