Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-11-28
RUTLAND HERALD.
WEDNESDAY, NOVEMBER %, 1867.
senator Edmunds and the Pubic
Debt.

Debt.
The early and bold stand that Senator
Edmuuds has taken upon the question
OF the public debt, pledging the country
10 Its payment in accordance with the
original contract which was Incurred
upon the faith and credit OF the United
states, will, we have no doubt, meet the
.pproyal Of his constituents and all
others who believe in keeping the pledged
faith of the Government. He has intro'
duced into the Senate the following
preamble and resolution, declaring the
intention OF the Government to pay It's
bonds in real money:
Vzysas, The public debt Of the United
States was Except where specially other.
wise provided) contracted and incurred
upon the faith and credit OF the United
States, that the same would be paid or
redeemed in coin or its equivalent;
therefore,
PtsOleed, By the Senate and House OF
Representatives of the United ststes In
Congress assembled, that the pubic
debt of the United States, except IN the
cases wherein in the law authorizing
the same other provision was expressly
made, is owing in coin or its equivalent
and the faith of the United States Is
hereby pledged in payment accordingly
1t is rumored that Representative
Eliot of Massachusetts,, will offer SIM
liar resolution in the House at an early
day. We are pleased to see this move
ment among the first acts on the re'as'
semblipg OF Congress, pledging the faith
of the nation distinctly to the payment OF
the fiye-twenties in gold. The resolu-
ton OF Mr.. Edmunds will undoubtedly
lead to much controversy, and Its ulti-
mate fate may be question of doubt,
composed as the national Congress Is, OF
so many men of opposite views, even
among the dominant party, but whether
it passes or not, 1t fully indicates that
there are some men who are not AFRAID
to meet the issue, and are disposed 10
take the doctrine of reputation by the
horns at once. We trust our indomita'
BILE and persistent Senatc-, may find res
olute men among his colleagues who
will stand with him in combating the
financial hereses which may, and nc
doubt will, be pressed on the attention
of Congress, The stock jobbers anc
spectators of Wall street are clamor
orous for q cessation Of contraction, anc
this cry is echoed and re-echoed by th'
same class everywhere, and it Is said th'
West will demand further depreciation
of the currency, or what is commonly
termed a further addition to the green
back circulation.
Mr., Edmunds has uttered the first Blu
gle.note in the great fight coming on il
reference to the reputation of the Ma
tional debt, which bids fair to be splr
tied and long contested one, which VII
be carried on not only in the halls OF tn
national legislature, but by the press, an
among the people. This resolution ha
already evoked the severe criticism
the New York Herald, as commencing
war between the bond-holders aad ia,
payers, itarguing att some length in fave
of the new schemes Of the practical r.
pudiators. But Senator Edmunds wi
undoubtedly survive the attack TIL
made, and carry his resolution throug
Notwithstanding the alarm and the moi
of the Herald and the honorable pos
ton he has taken for sustaining the
tional credit, will receive the approx
ton of his immediate constituents, al
the high-minded men of all parties. III
and sundry other questions will ear
In the session elicit very full discussl
of our national finances.