New-York tribune., 1868-10-19
SENATOR 7EUMBULL on TIE FINANCES.

Senator Trumbull of Illinois, whose sad do
mesic bereavement he death Of his we) has delayed
his appearance In the canvass, delivered powerful
speech Springfield the evening OF the lth inst In
reply the speech oEMr Pendleton made in tho same
city time previously His dissection of Mr. Pendle-
tons financial views was as follows:
PAYING BONDS IN GREESBACKs
It's, however "A hobby with MIR Pepdleton that the
yctwenty bonds as they are called, should be paid of
greeDbacks and he says that the Government OF the
United states has night TO pay them in that way In
6a way he p TO E yo% on m e & Gg 10 e do nm oSe e
species Of Indebtedness and issue another 20 take ITS place
YOu would just much aferward you did before
That would not pay the debt u lac proposes however
in issuing second evidence, 10 issue IL without inter
est Well il that honest transactOnf Would you con
dollars loaned bearing blk per cent inter
that note aud giving you It's place that did not bear
interest payable al his option, and taking from you all
the United States have borrowed, If, when 1t
ssued those fve-twenty bonds, that Is to say. "a
20 years and which the Government of the United states
reserved to Itself the right to pay II II thought proper
expected 20 obtain money II you VIII purchase these
bonds II must be with the understanding that at the ond
OF the five years the Government shall have the rgDt 10
take them up, and give other bonds called greenbacks
that do not interest" how many Of you wond have
furnished money under such prOposltionf DO you
think Government could have got dollar on snch
proposition that do not. however, attach any con
Siderable importance 10 this question Of whether tho $40
may be paid in greenbacks or not The discussl0Gf
that question seems to premature for THIS reason we
question unless have the means 10 discharge the
PENDLKTOh's PIAks FOR PAYING orr BONDS.
Mr. PendlcOn scOus the idea Of issuing thousands OF
millions OF dollars OF grecuback5 10 take them us no
says has advanced any such idea He opposed
10 II. We'll how does nc propose to pay them lie IL
rrng TO economical Ho IN going 10 s9vo enough out
II the fOOOO0O0O tlat collect each year 10 pay Oh
hese fiVetwenty bonds, Well what is tho trouble with
hat statement Why the same difficulty that arises III
eyeral OF Mr. PendlcOns satcmcntsWe do not collect
ny 500 $4,000 year. Last year the precise sum that
gG collected was sO53O0 and since mat time we have
educcd the that the present year we viii proba
,y not collect more than sS0O0oOO, barely enough TO
y tho interest on pubic debt and the ordinary
,cns 0f tho Government. Now suppose Mr lendleon
poke m all "slncerty hnd Integrity II io "tJ090tsWO
hat wcrB 20 be collected He believes ~, no dOubt
ut the official reports say that did rot collect any
nch last year. Does he propose increasing tie
axes II he docs, let him say II tIat ls what hc
ledns, instead Of reducing The taxes, az he Erpublcln
ariy controlling tho legislation ~ Congress has done
inu he last year neatly g-JOJ hayo been taken nom
our burdens We have taken Oh te cnrc tax from ten
l0isnd articles tlat you paid taNcs upOn year ago,
nd Olr internal rCyeuuc tax isnOW collected from very
w itcms-hali dozen pclhapB-chiehy from liquors, /
jbaccO stamps, Licenses aDd iAcomcs Then you cilm0t
ay oil tho debt with Our present taxaiOn h the way
iat Dir IendIetOa pgOyJscs and appiGLeAd no would