The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1868-08-06
Greenbaoks vs.. Reputation.

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The Radicals pretend to say that he
payment Of the bondholders in green.
backs, which is the "lawfuI money Of
the United States, !" is population. Do
they expect to make people believe their
absurd and foolish Representations on
this subject9 Do they imagine that the
public intelligence has sunk so low as
not to detect their fallacies aud misrep-
RESERVATIONS II they do they deceive
themselves, and viii discover theirerror,
byaud by. The expenses of the war, for
which these bonds we're issued, we're de-
fraycd in greenbacks. Congressman,
heads Of departments, the mechanics in
the navy yards, the sailors, the soldiers,
and all other government employees, are
paid in greenbacks, tho lawful money Of
the country. The platform adopted by
the National Democratic Convention at
New York, says -" Where the Govern.
ment has pledged itself to pay in coin,
payment should be made in coin !" in
all other cases payment should be
made in lawful money of the United
States" that is, that bondholders should
stand on common footing with all 9TH
er government creditors To all impair.
tial minds nothing could be fairer than
this. What right have these favored
boDdholders to privileges not enjoyed by
their fellow.men The Radicals may
continue to cry out "repudiatiOn' till
they are hoarse, but they will not be able
to make the people see il 10 that light
Payment ofthe Government debt In tho
lawful money Of the United States, is
not reputation.
That pure aud immaculate statesman,
philospheraud moralist, Horace Greeley,
calls it "swindling." Others, equally
nice in their 6ne.drawn sense Of moral
obligation, pronounce IL robbery"
We'll, perhaps there may be something
akin to robbery, after all, connected with
these bonds. Let us see Government
submitted TO a shave Of sixty cents in the
dollar; some Of the bonds, il is known,
were sold as low as thirty three; but let
US suppose that forty cents in the dollar
were realized, the bondholder making
profit of sixty cents. He pays no tax,
but receives principal aud interest 10
gold, at premium of 40 per cent. thus
receiving over two dollars for one. Is
this not robberyf But who arc the
robbers f---the men who would pay the
bonds 10 grecnbscks, dollar for dollar,
or those who have Heeccd the govern
ment, and are now receiving two dol.
lars for one ? When IL is remembered
too, that il has been computed that one.
half or two-thirds Of our public debt
was for fraudulent contracts aud for
picking and stealing generally, through.
out the war, robbery is not an appro.
pirate term to be used in such connec.
ton and it is a wonder that an outra.
ged and indignant people have not
spunged out the debt entirely as the
French did their assig,.an. That they
have not done so, is owing to the fact
that our couutrymen are a more moral
people; the provocatio0, we take il, be.
ing as great in the one case as the other.
That the bondholders can claim any
very great consideration on the score Of
patriotism in furnishing the government
with money, during the war, win not be
admitted. Their patriotism was Of the
cent per cent. order and is in strong
contrast TO the course Of the illustrious
patriot of the Revolution, Robert Nor.
ris, who loaned his money TO the Gov
ernment, not at discount Of sixty Der
cent but at par, aud refused legal inter
est for the same. The money.loaning
patriots Of the prescott day cannot palm
of their spurious patriotism upon intel
iigent men, for the genuine article.
The policy Of paying the public debt
in greenbacks, viii have a tendency to
appreciate the currency and bring il up
nearer the gold standard, and is the ve-
ny opposite Of reputation, and will be
SO understood by all intelligent and un-
prejudiced people. |
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