New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-09-14
NJ1IONAL SBINDLING

other Coppcrheads as indorsers of THEN plan Of
paying off the National Debt i'll GTecnbacks,
should define their position Not one OF them,
so far as we have seen, ever animated that
the Government might honestly issue Reir
Grccnbacks and Herewith cancel, dollar for
dollar the bonds whercon it is paying AK
per cent. interest in gold. The Legal Tender
act-whch is the only one quoted TO justify
the purposed vlany-docs indeed say that
Z" these notes shall also be lawful money and
illegal tender in payment Of all debts, public
land private, within the United states, &c,
This is the clause relied on to Justify the pro-
posed robbery, in clear view OF the fact that The
bonds were sold and taken IN the fullest as
surancc that these words did not mean what
they are now said to mean, and that the
bonds should be paid at maturity III coin OF It's
full equivalent. y. ./l.0
But the words quoted are few, and cannot
nulify the residue OF the act OF which they
form part. That act Repeatedly quoted 10y
us, and accessible to every one in ON Finance
Extra) expressly
/. Limits the amount of the Grcenblcks 20
be issued to One Hundred and Fiify 81 ,LOns
of Dollars;
Q. Authorizes tic issue of Five Iiundred
Millions Of Fiye-Twenty bonds, dawng SIX
pcr cent. interest in coin, wherein these Greon-
backs are fundablc;
3. Provides that any holder OF Cleonhac''snEy
Mt his pleasure have them converted into an
canal amount of the FivcTwcnty bonds.
4. Makes all Duties on Imports payable IN
Specie, and aplnopriates that Specie to the
payment of the interest and one per cent, an
nualiy Of The principal Of he NdGono! DebL
Let these stipulations toe faithfully obeyed,
and the payment of the bonds in Grccnhacks
becomes absurd. If any were so paid, the
! holder might at once present the Greenbacks
and demand their face in neU Five-Iwenty
bonds, drawing six per cent interest in coin, and
not payable till after five years. All that pay
ment in Grccnbacks would amount 20 would be
the perpctuation of the present high rate OF
interest, when we ought to borrow at lower
rate and pay OIL (when duel all our bonds that
bear SO high an interest as six per cent.
Now see what use villain makes of better
mems names
Allen G.. Thurman, late Democratic candi-
date for Governor OF Ohio, and now IT, , Sen
ator elect by the votes of minority OF the
people of his State, in late speech at San
dusky, Ohio, says:
But says Radical gentleman. "rrani. Nj
Thqrnan al you say TO be trg, ana y seems 60 be
undeniabe. yet was not Tue dfDt mGy1b.ri ana n 40
how our Radical rulers espon,pe IoI us elects
To such inquirer, would reply, whether The debt was
unavoidable OF not. would not stop to discuss The
debt exists whether wisely or unwisely contracted
whether necessarily unnecessarily enhanced ia
S d@ y %gss & y R The nfw G'i pS
bondsaro lawfully payable IN gIeehbacAs-hat s their
principal is 50 payable so shd your great loadrr
Thaddeus Stevens. and say Your other prominent
leaders-Gen. Bntier. Senator Morton, and your own
Radical Convention, no longer than last February
so says Thomas Ewing, the very head Of The American
bar And 80 must every candid man cay who WIZ larry
We're 81 SOoOoOOOO thus paid In ereenbaoks. the
country would DO relieved OF the annual payment of
ssOooc09 interest IN gold to sllSSo9oOo in eur
payment OF one twelfth Of that su-equal to nearly
100000 sum more than sufficient 20 support our State
Government, economically administered.
"Why, them is there step taken toward paying of
pnrcbased and in which they are lawfully uayabei Why
Is no provision made for paying them of IA fast as they
100 great an erpSnsion Of the currency There ia but
these questions, and that l. that Radical
do not intend that they shall be thus paid OIL They
intend pay gold whore the Government only promised
paper. They intend that the currency which the people
are compelled 10 take may be rejected by the bond
sToy the credit Of the Government It Is downright re-
pudaton. unmugated stealing, cries another Is 1t so
. The contract between the Government and the bond
holder is that the bond may be paid ia geonbacks LII
found in the greenbacks IL is found ~ the laws under
which the bonds were issued ana shdellby stamped
every cgaltender note or greenback ON the back OF
them Will these words This uOte
is legal tender for all debts public and private except
duties imports and Interest ON the public debt and
receivable payment OF all loans made the United
States Could any language be palmer fhRn that The
people by their Government 20 the money ender II
you will lend us money, We VIII take greenbhcks from
YOU and give bond; aud when We take np the bond
we will pay you In like currency, In the Ihon ie paying
Won interest In gold Aud now when, the Goyernment
ulhs this contract strictly according TO both ITS letter
and spirit by paying the interest IA gold aud principal IN
greenDdcs what reason there why ITS credit should
suherf And s faith 10 be kept toward the people
Wen as by the peoplof Are they 10 Pc Dandedas repud
atOrs and thieves because they keep their contract
as made; because they refuse 10 give than
they promised To give And yet with The law and equity
ana good faith and honor or the case, plainly before
them, what did Radical Congress do at ITS last
session II passed what IS commonly called the Fund
ing BILL by which itls proposed 10 continue the debt for
40 years and 10 pay both principal and interest gold
~ Is true that lower rate OF interest offered but II the
principal OF The debit well as the interest IT, under cN
ing laws payable In gold what light hasthe nfnt
the other hand II the principal pay able in greenbacks
what night has Congress 70 ask the people TO extend the
debt To 40 years. and pay t all principal well intsr
est III gOd thus doubling or rather tlebng the amount
TO be paid For In forty years you would pay the amount
] Of the debt more than twice over In Yin
terest even at four per cent, aud ftill have the
principal TO pay when, by keeping your contract II H.
you may pay on the principal ~ legal tenders and stop
an payment OF interest say, then, that II this burden
shall continue TO upon the peopc year after ycnr
nVe the people of Ohio are 10 be deprived O their
and their money 10 How out ~ the Stae 10 their own
impoverlshmen and the enrchng OF Others, IL win be
the iaut OF our Radicalruers II viii DO the bitter fruits
OF Radical policy. .......f 30 ats eel .sI.s
"No my friends; pay of your debt as you promised TO
pay IT, and not otherwise and pay it spsediy As
uossibIe consistently with your welfare. Let not that