Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-08-06
The Pendletoniau or Seymour
Policy.

The PendletOniau or Seymour
Policy A
We appear to have made the Zdnesville
Courier happy by the assurance that IF Mr..
SEYMOUR shall be elected President and
shall be backed up by Democratic Con-
gress, the Government will be so wisely.
so honestly, so frugally administered, that
the Greenbacks will become worth their
face in Gold, and hence there will not then
be. as there is now, speculation in our cur
rency.n
This would becarrying out Mr.. PENDLE-
ToN's policy to the letter. His policy does
not contemplate the depreciation of the
currency, so thatit will become worthless
in the hands Of the people. 1t has suited
the Republican press, for partisan pur-
poses, to SO represent it. His policy aims
to cut off every expenditure. that possibly
can be dispensed with. 1t would save the
interest that is paid ON the United States
Bonds, upon which National Banks draw
Interest, and use as basis to issue their
lpromissory notes on.-Thus by the pay
ment of these Bonds in Greenbacks and
lusing them as currency instead of the Ma
Itionals Bank Notes, there would be a
saving of SOME twenty millions Of dol
liars per year. The discontinuance of
the Freedmen's Bureau would save
many millions more, and by the with
drawal of the army from the South
and remitting that portion OF the Union to
to the rule of White men, great many
more millions could be used to pay off the
Public Debt, which is now running up
largely every month. Millions upon mill
lions more. could be saved to the people by
an economical administration of the Gov
lernment.
The application of these savings to the
payment OF the Public Debt would improve
the credit of the. Government, and as the
credit of. the Government would be inn
proved, SO would, the, difference between
Gold and Greenbacks be reduced. 1t is the
Inability of the Government to pay its-ex-
lpenses, including the interest on the Pub
llic debt, out of the receipts from taxation
and duties on imports, that in great part
causes Gold to advance as tits now advanc-
ling. This increasing difference between
Gold and paper money is not because the
volume OF paper money IS Increasing
Doubtless, it is not as great as it was
months ago, when the difference between
it and Gold was less than it now is. 1t is,
as we have said, mainly in consequence OF
theSP Public; Debt increasing. Reduce this
Public Debt, and thereby give to the pub
lie substantial guarantee that it has been
put in the way of extinction, and Green
backs will necessarily increase in value.
/ The mana whoIis understood tosbe doing
thriving business, and who meets bis pa
per punctually, does not furnish the curb
stone broker much margin for speculation
in his paper. EOnshis paper there is not
much discount. The discount-the margin
tor speoulation-is on, the paper of the man
who is month by month falling behind,
and who draws upon the future. Ii he
can get money at all, it is on such terms as
moneyed men dictate. So with the Gov
ernmeut. Its credit, by incompetence and
rascality, has been so impaired, that al
though it has the labor and the industry of
the country to draw against. the moneyed
me n make their own terms with it. 1t is
in the condition of an insolvent debtor;
and as debtors who are too hard pressed
take the benefit of the Bankrupt law, SO
the Government may have recourse to
similar means to relieve itself, if something
is not done to diminish its expenditures
and to lessen taxation. A continuous run
ming in debt as surely runs ipto bank
ruptcy and reputation, as taat two multi
piled by two make four.
The only way, then, to- avert Repudia-
tionLthe only way to increase the value of
Greenbacks, and to make speculation in
them u6proft able ris to elect HoRATIo
SEYMOUR President and majority of
Democrats to Congress. Their election
will give energy to business and labor.
and, hence, the ooldrtime prosperity to the
country. -aJsl9q nj 5nssaiT d rs sh1s