The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1868-02-13

suO 0Vu0 XUVoSsV0s
We said on Monday that the bond
question had been narrowed down to
one Of contract. and any disagreement
as to the terms of the contract, would
have to be settled by the courts. The
indianapolis Herald states the Demo-
cratic..proposition as follows:
"Now what is the Democratic propo-
sitiou, and we must take tho authorized
expression of the party to ascertain
at the State Convention on the 9Th of
January, thus declared:
''6. That we are in favor Of the pay
ment Of the Governm ent bonds in treas.
ury notes. commonly called green
backs" (except when expressly MADE
payable in gold by law at the earliest
practicable period
The Herald insists that this does not
mean to pay a ''watered or deprecated
currency" and then it don't mean any
thing, for no Republican has ever asked
more than that the debt should be paid
in accordance with the terms Of the con-
tract made when bonds were sold and
it also convicts the "s so called" Of de-
ception. They argued the question
thus: "A currency good enough for
the people, is good enough for the bond
holders. The bonds must be paid with
greenbacks, and greenbacks must be
printed to pay them. Tinder or tender,
start the machines; make paper to pay
the bonds, and enough more to pay the
operators for running the machines
fThe objection the Union party press
made to the Pendleton financial scheme,
was not " payment of the bonds in law
full money" when it was not stipulated
to pay the coin, but to new issues for
the purpose of paying them-an exccs-
sive issue of paper money. which, under
the circumstances, must be inconvertible
and most probably irredeemable. The
SO called sprung the currency question
upon the people late in the canvass of
Ohio and other States last year, and
carried the elections by false pretenses
The special election held on Monday last
in Ohio, for Congressman, proves that
the voters now understand the question,
and the reaction evident to the close OBJ
servers. has set in. The question has
been stripped of the sophistries thrown
around it, aud now stands out boldly as
First. One of honesty; pay the debt.
Secondly, One Of paper currency. The
first has been decided in the Affirmative;
the second by an imperative negative
OF all the contrivances, said Mr. Web.
stec. ''for cheating the laboring classes
of mankind, none have been more ef-
fectual than that which deludes t,iom
with paper money. This is the most
effectual Of inventions to fertilize the
rich mans field with the sweat of the
poor mans brow"
The efforts of the Unionists since the
close of the war have been to make the
gold. Their efforts have not been entire
ly unsuccessful. They have, however,
succeeded in giving the people a paper
currency as good in New Orleans as in
New York. in the Territories in the far
West as on the sea board. Before the
war and under the independent bank
system, the traveller had to provide gold
coin to pay his expenses The currency
then was local; bank notes issued in
Madison. Indiana, were one half of one
per cent discount in Cincinnati, and
from one to two in New York. This
was under the Democratic State Bank
system. The paper currency now is
much better than it ever was before To
ruin the nation, war was sought by Dem
ocrats. The ruin is now sought by
means of the ballot box.-Mad. Cour