The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1868-07-29

would come when the debt had been
paid-when the necessity for Target
sums of money on the part Of the GoVsS
eminent had passed away-when taxes
were low, it could be accomplished
without the oppression and disaster
which now attend it.
PERSONAL POSITION. TOWARD THE
BoNDHoLDERs AS A CLASS IN MIDDLE
I have been represented as inimical
to the bondholder. Gentlemen, you
shall judge me. I am hostile to no
class or interest in tho country. I
simply desire to be just-just to the
b,ndholder-5ust to the people. Il
would live up. with scrupulous fidelity,
to the terms Of our contracts. I would
DIV the interest of the Ave twenties In
gold, because the Governmenthas prouf-
ised to do SO. I would pay both pris-
cipEe and in ,erest of the ten.forties in
gold, because the Government has prom,
ised 10 do so. / would pay the Priuci--
pie Of the ive-twenties in legal tender
notes, because the bondholders agreed
to receive them in payment and as I
would rot ~repudiate an honest bargain
to make money for the people, so viii
L not :epudiate an honest bargain to
make money for the public credits OF. ~
ALLEGED CONSEQUENCES CONSIDERED.
1t has been said that this policy will
give US a deprecated currency.
think not i think, on the contrary
that just as the public debt is in this
way discharged, will the certainty of
its ultimate redemption become more
apparent, and its value be steadily IN
creased. These bonds operate as a
mortgage upon the property and labor
Of the country There are two thous-
and million of them. Pay of these two
thousand millions, and will not the
legal tender notes he just in that pro-
portion more valuable .t-7EIs5
But again give to these notes the
acknowledged undoubted capacity to,
pay all public obligations and they i'm
meditely increase in value. / know
the evils of a deprecated currency
Webster described them. l would not
aid in depreciating u currency
fought against it when it was proposed
by the Legal tender act ; my warning
was not needed. But since it has been
accomplished-since the debt was con-
tracted in legal tender-since it may
be lawfully and honestly paid in legas-
tender Il am N favor Of continuing it
until we can secure the people, who
have already suffered all the e,il, what
ever good may be extracted from the
system. -
REHABILITATION AND APPEAL.
But, gentlemen, + detaiu you too
long. l have sought to bring in sharp
contrast the parties and their respec-
tive principles. Choose ye between
them" It is a struggle bet@een law.
aud force (; Constitution and revolution ;
order and anarchy /; purity and eorrup!
iion; economy and extravaganza ; civil
Government, and whatever comes after
it's overthrow /; intellect, cultivation,
experience, capacity for government;
and-but Iforbear-as-[cheers ; cries,
go ON ; let it out" AS 1 will not say
one word in disparagementI of the
chosen leader of a great party of my
countrynen This is the supreme
struggle for the mastery by these en-
during and opposing forces. Choose
wisely between them. Work earnestly
for your choice, and on the day of the
election in November the American
people can be congratulated for the
achievement of n victory for the Con-
s itution-thc achievement of a pros.
perity aud haPpeness which can only
be secured by the enjoyment Of liberty
regulated by law, a: d of law inspir ed
L. H. u.,, g u,auS Eharku -
Immense and prolonged cheerin 6 |