The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-05-11
Paying the Bonds with Greenbacks-
Harmony Of the Democratic Party.

HARMONY Oh tn6 beIuoCIdtc dIy.ls
We have for some time thought it proba-
Bile that the National Democratic Conyen-
ton, which is to assemble in New York city
on the 4th of July next to nominate candi-
dates for the Presidency and Vice-Presi-
dency, would be. unable to agree upon the
line Of policy which it were wisest to pur-
sue in regard to the questions that affect
the currency and the national debt, There
is large class Of men in the country, gof
whom BRICK PoMERoY is the leader, who
advocate the reputation Of the national
debt as one contracted in an unjust and un-
necessary war, and one, therefore, which
there can be no moral obligation to pay.
There is another class of men who are
utterly opposed to. reputation, but who
would substitute greenbacks for the ma
tional currency issued by the banks. There
are others who wish to pay off the national
debt as it becomes due, with greenbaeks.
Mr.. PEEDLEToN is generally regarded as
the candidate of tho two last-named classes.
Who WILDE put forward blythe repudiators,t
we know not. But the Democrats Of the
eastern States, and especially those Of New
York, have hitherto been supposed to be
opposed to all these schemes for depreciating
the currency. They were regarded !, as
friends Of the bondholders. The New. York
Times, however, removes this impression,
1t says that the following declaration is
contained in the, report Of o committee
which was recently adopted by the New
York Assembly Gas the illogical Knicker-.
bockerscall their House Of Delegates), every
Democrat voting in the Affirmative
"It is not the policy Of the Democratic
party 70 trifs with the public credit. Its
history is that Of q hard-money party--a
party which has paid off both State and
national debts. Its representatives have
voted to pay off our State debt in the spe-
Gle in which it was contracted. It is pledged
to meet the obligations Of the Government
with perfect faith and literal fidelity. 5 1t
will seek, by economies, to reduce the bur
dens Of Government, and curtai1 those ex-
travagances which, even more than the
debt, weigh upon the resources of the ma
ton. ut aaoiN not debauch the currency IN
order to dJraad the public creditor and all
other creditors; 5ut 1t aoM erting aiish public
obligations, suhea 1t comes into posoer, IN such
currency as Congress shall giue to the peo-
PIE to meet ordinary obligations bet,psen
them" !,EIIefs 4 ,1sfy fpr roe IN "A
After this, MIR. BELMONT and the rest Of
the hondholders may hang mp their iiddles.
The New York World can no lopger claim
to be the organ Of the Democracy even Of its
own State; for while the beginning os the
ragraph is written in the usual strain
Of the World, the ending is in another strain
aitogether. The premises would lead to
totally different conclusion. Weneyer read
more ineonsequential paragraph 1tbegins|
9y .oao prossstations, Of honesty, and OIL
hostility TO paper. money and, 80, trifaina
with the public credit; but=it-closss. bysde.I
elaring ID favor of paying off the natisaanl
debt with gresnbaoks. We confess our. en-
tire inability 70 understand the position Of
these New York Democrats. I'VE think, How.
ever, that We can perceive one thing .pretsy
clearly, and that y shat shsy 90 moi intend.
to divide their party. saa Dssls35a g
Whilst we DO not pretend Is aplpplaad any
policy which proposes 70 aelpss The country
with an irredssnable currency, and repsst5|
the process whaneyer another hundred,
millions of the attional debt becomes due, 1
We nsye,th lass rejoice oyer any ipdica.
tons Of union and harmony asnougzs gthal
northsrn Democrats In ths approaching pre-
sidentiat canvass. NO mbrs signs6 eantpysnt
has for a long titae happened none better
calculated to inspirs the southern people
with hope-than the passage by the Demo
cratic Assembly Of the bondholding State
of New York Of such declaration as the
me Rs have quoted. With q united De- |