The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1867-10-09
Paying on the Bonds With
GreenbaekS Another RepOb-
ispaR Talks.


Paying on the Bonds with
Greenbae aekS-AGotheF Repub-
i,Can Talks.
We notice, says the Eaquircr that Col.
DOM Piatt has returned from his sea-
side recreations, and again taken charge of
the political department OF that Raiica
sheet the Kic-a cheek EroSs, Of Urbana.
His first effort is an cndeavcr to get his Re.
publican friends right on a question that
was not up when he left them to take care
OF themselves lie hastens to,tell them
that they have permitted Themselves not
only to be drawn into a side issue, hut to
get themselves placed on the wrong side in
the proposition to pay Off our Indebtedness
in creenbacks." lie then proceeds to ex
plain the character of the Indebtedness of
the GoyernmeLt-which consists of two
species of evidence of its liebiIities, bonds
and greenbacks, the former being in the
hands of the few, and the latter in the
hands of mi uy-the people.
As to the proposition to change the char
aater of the evidence Of indebtedness from
bonds into gr>entacks, the Colonel sa,s:
''Our frieuds are foolish enough to assert
that this can not be done-that it cans
population; ami QUE Senator Wade, who
of late has heen remarkable more for the
force of his utterlnces than for the wisdom
or originality of their thought, calls the
advocate Of such a proposition thief. u
The Colonel can't soc it in that light, and
thus notices the objection
let us look at this Why not pay eff
this indebtedness in greenbacks? Because,
says S9nltor Wade, and others OF that ilk,
the erecnbacks are not money--they. ave
only promises to pay money, and We have
contracted with these b0ndhoIders to pay
them interest and principal IN gold.
we will not stop to ask the Senator
what becomes of the law he voted for de>
cIaring this paper legal tender, for we re-
gard the act to be worthless because uncon-
stitutional 1t was passed at a time when
our Government was in a death embrace,
and acquiasced in thorough necessity. We
, could not pau-c to be nice. We were tore
cd to violate the Constitution that we might
save the Constitution. Bnt we do not de,
ny utterly that we ever contracted to pay
either interest or capital in gold. Our con
tract is to be found in the wording Of the
| law authorizing the issue--and IN one only
| is there such an agreement.
That there should be such an exception,
is fatal TO the claim now set up BY the bond
holders When money is borrowed it is un
dorstool that principal and interest will be
paid in that which the Constitution Stipu
! tates TO be, and the world regards as moaey
| But if in one instance we set forth hat the
II tereqt and capital are to be paid in got
the conclusion is inevitable, that the Other
issues we're made and accepted in the be
lief that the redemption was to Do in cur.
rcncy.
"And such is the fact. Capitalists in
ycsting in these bonds believed that before
they became due, specie payments wouit
have have been resumed, aud in thag cas-;
they would prefer greeDbacks to gold. An
now they, are prepared to say, that wbe'
the hour Of redemption arrives, if SPECIE
payments are not resumed, they will b,
wiling to take what they can get, and b.
clad to get anything.
Oar friends must be careful. We ar
charged with disposition to favor the few
at the expense of the many We bclieT'
this unjust, but if we grow hysterical owe
the propo.i:ion to pay q bon2hoder in tha
which We have assured the people by act 0
Congress and iudiaia! ,eiiion is money, w
omen ourselves 10 the charge OF being no
only partial to the bondhoder but unjuS
to The reopIc. We seek to protect one sor
of bond at the expense Of another, and tht
other sort is that in which every one is in
tarestnd We're We the happy owner OF g
Gvetwenty. or any form OF bond security
for the sake Of our children we would has
ten ia convert it into the form Of securit,
called grcenback. And Tor this reason: l.
the first few only are interested, and tha
in land where many vote; III the last al
are interested.
ave are not troubled with any yiolen
rega d for these bondholdcrs The tall
about their patriotism in rushing iOygarr
to sustain the Government in its hour o
peril is bosh, and the man mad influenced
it is very downy. These bonds were takol
up by capitalists as a paying investment
and the great mass OF them was issued at
ter the Conlederacy had di appeared, anf
the peril was passed, We know no end o
tat capitlists nov holding bonds, who threat
en- themselves with apoplexy at the mer
mention Of payment in greenbacks, VIII
could not be induced to touch Govern
mcnt security when the Government wa
really in danger They drove hard ba'
gain with us. The boy in blue offered hi
poor life for this country, and left his vii
and children to staryc The fat capitals
offered his dollar in deprecated currenc
and stipulated for good security and heav
gain. Old Ben will denounce US as dema
gogue, we suppose, if we own to a hatre
for the one, and love for tie other, Bu
so it is.
1--WE will not assert that all bondholder
are Shylocks but We do assert that all tn
ShyIocks are bondholders.
I'VE propose to live up to our bond, bu
not one drop Of blood or ounce Of Hes
: over. and in grasping Tor more all may b
lost.
Our friends need not trouble themselve
The day is coming when the boudholdel
will march down t,the Treasury in solem
procession to ask for gleenbacks, and
their head they will carry banner with Il
old Roman inscription,
IS. p. @. n.
, (Which r9ads-,Specie Payments QHt
Rare.
s. .-<ISzz-----
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