The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1867-06-13
:. FAvORITE CLASSES,'-THE NATION.
Al DEBT AND ITS REPUDiATiON.

Az DEBT AND ITS REPTDIATiON.
From the Columbus Journai.l
The people are obliged to take legal
tender for their debts, while the bond
holders have gold. The money of the
people is subject to State and local tax
alton, while that o: the bondholders. de-
rived from their bonds, is exempted from
it II Cincinnati Enquirer
That is a fair average specimen Of
Democratic lying.
system Of misrepresentation by the Dem
ocratic party, of which.the Enquirer is
fair representative, is TO make the public
debt odious, and, if possible, have it re-
pudiated, because they disapproved OF
the cause in which it was contracted.
They will have good time of il. Do
capitalists hold all tie public debt? Far
from it. The pcopie-laborers mechan-
les, widows, orphans, and MANNED SOL
diers. hold it in the aggregate. by mil
lions. BY means of it many of them get
their daily bread, in it many Of them,
relying upon the plighted faith OF a great
in a savings bank, hoping thereby to be
enabled some day to rise to comparative
ease and independence.
By hints and threats of reputation,
Democrats try to induce the poor and
ignorant to dispose of their Government
securities, and by throwing them exclu-
sively into the hands of capitalists, cre-
ate moneyed arls, ocraey, the very thing
which they declaim against.
This is free country, and in time Of
peace at least, men have right to speak
Of public. matters as they please We
would by no means restrict that right by
the power of the magistrate. But men
who kno vingly recommend measures
which, if carried out, would be destruc-
tive OF the honor and even the existence
of their country, deserve the reprobation
of all honest people. Ehey very well
know that while the Republic exists, the
National faith must be kept sacred. Such
is the force of party rancor, that Demo-
Gratis (and the Enquirer is among then)
can be found who hold that the expert
ment of republican government is
failure, and that we might as well dis
pense with the forms of such govern
ment now as at future day, not very far
distant Some of them, therefore, desire
the repudiation of the public debt, be-
cause they know that repudiation will be
the end of republican government on this
continent and throughout the world
Nor is this all. An attempt at repudia-
ton, while it might cost US our liberties
and form OF government, would be un-
successful. In just cause we can sdefy
the world in arms" but we cannot fight
and overcome both the moral an 4 phys
ical powers of Christendom The sue
cessive stages Of repudiation would be:
First-derangelnen ent OF business; unset
Ting values of property: suspension of
industrial pursuits, and consequent dis
content among the poor. Seconl-mobs;
divisions of the people; '.the strife Of
brotherhoods; civil convalsions and rev.
olutions. Third-foreign intervention,
invited by factions among our own pco-
pie; the loss Of liberty and Republican
government, with compulsory payment
of the original debt, together with the
cost of enforcing payment.
The National faith is the life breath of
the Republic; and he who, under pretense
Of love for his people, proposes to break
that faith, is one of the most despicable
of demagogues-at once an enemy of
the people, and at heart, traitor to lib
erty and his country.