New-York tribune., 1867-08-01
yrW PARTY PROPOSED.

Tho fertile soil of "the Garden State" re-
io;ces tbe heart of man with prOdigious fer
tlitv not only in staples but in ideas and one
of the ideas most rife there would seem to af
firm the blessedness of getting and keeping
over head and ears in debt, and of paying, if
Won must pay at all, in some sort of promise
or symbol that costs nothing. Thus, a
meeting was recently held "at Haights
school-houso, in the township of Meri-
" dian, La Sale County, Illinois,
for the purpose of considering the financial
condition of the country" This meeting re-
solved to inaugurate new party, which is to
be launched at a mass-meeting at Ottawa, on
the 9th day of September. The initial
gathering, whereof the Hon. Obed w. Bryant
was Chairman, and Martin Allen Secretary,
after discussion" gravely
l. ResoIred That the same imitation OF currency under
which the national debt was contracted shall be main-
tanned until the debt shall have been paid
ReOlued That to out this policy there should
be organized New National Polley Party ,,o nrrro.e
Of consulting with and procuring the Sf s
as shall be designated by James Kdalr; and that he is
hereby authorized to call such meeting.
-"Here's richness as Mr.. Squeers once en-
Enthusiastically observed The National Debt
was contracted in part when our Currency was
at par with Cold and i'll part under all manner
of rates of depreciation from one per cent. up
To 2G0 There is no "same imitation OF cur
"rency.' as ought to be notorious, even within
the shadow of "IIaights schOOl-house there
can be none That initiation was first progress
sive then vacillating-is vaciating still. The
fundamental assumption of the imitation loving
Suckers is as unfoundcd as their notion Is
absurd.
Their scheme coolly ignores the vital fact that
most of our Public Debt is payable, principal
and interest, IN coin, and that all the rest is
rapidly becoming so. The Scven-Thirties are
expressly convertible into Specie Skies at ma
turity, and are So converted without exception.
Hence, initiating the Currency, or keeping it
inflated, cannot possibly diminish the bur
den of the National Debt. That Debt calls for
gold and we must very soon buy gold, and
pay whatever premium is charged therefor, to
meet even our interest, if initiation is persisted
in. And, whenever a loan falls due--as loans
frequently do and .must-we shall have
to borrow $1lO,OOO,OOO in currency to pay off n
specie debt of s1OO,OOO,OOO.
The "New National Policy Party will not,
therefore, achieve anything on its present tack
It's aim is clear enough, but its "Policy" will
not reach it. Let it come boldly squarely out
against paying the Debt at dH aud 1t will
have chosen position of frank, uncquiyocal
rascality, whercon it can doubtless rally more
adhercnts in La Sale County than " lIaights
school-housc' can hold. To attempt anything
short of that, is to try to be knaves and only
succeed in being fools.
We respectfully suggest To the adjourned
meeting at Ottawa, this modification of the
platform, which will greatly improve its
lucidity:
l. Reolccd That the Currency be kept inflated t the
National debt he paid
2 Res0lrod, That the National Debt be- not paid al all