The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-07-30
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The Opinions of Senator Morton on Repu-
diutfnn


The Opinions of Senator Morton on Repu-
diatiOn.
From uts NJ Y. Tribune.
In his speech on the Funding bill, delivered
in the Senate July 13, Senator Morton took
ground, side by side with Pendleton and
Butler that il is lawful and right for the
Government to pay the Five-twenty bonds in
legal-tender notes. sin matters Of such i'm
pense magnitude, " said he, "the nation can
only be bound by the law" and laying aside
conscience and common sense, he proceeded,
in justification of the financial plank in the
Democratic platform, to quote from the various
acts authorizing the issue of legal-tenders a
number of declarations identical in substance
with the following ....
"The notes herein authorized shall be re-
ceiyed in paymenJ of ali taxes, internal duties,
excises, debts, and demands OF every Kind due
the United states, except duties on imports,
and all claims and demands against the United
States OF any kind whatsoever, except for in-
tefest upon bonds and notes, which shall be
paid in coin, and shall also be lawful money
and a legal tender in payment of all debts,
public and private, Within the United States,
said" '''''~' -
Neither the provision above quoted, nor any
of the others produced by the Indiana Sena-
tor, makes any exception in favor of green
backs. Greenbacks, he declares, are there
fore to be paid in legal-tender notes. For,
TO use the argument and the very words of
ernment Is bound to pay these (greenbacks)
in coin, you do it in the face of four direct
and plain statutes, as unequivocal as any
statutes that ever were written" Every
greenback carries on its face a promise
on the part of the United States to
pay certain number Of dollars to the
bearer. What of that? The people of the
United States, upon Senator Morton's inter
probation of the acts of Congress, are at liberty
forever to repudiate tho,e promises. They are
furthermore at liberty to keep them depressed
thirty per cent. below their par value. And if
thirty per cent. why not ninety-nine? On
the plea of relieving taxpayers and keeping
to the letter of the law, Pendleton, Morton,
Butler, and Stevens, in company with the La
Crosse Democrat and the main body ofs those
who Will vote the Democratic ticket in No
vember, propose to perpetrate this swiudle on
the creditors of the Government until the en-
tire national debt disappears, paid without the
departure of single gold dollar from the
Treasury.
What revolution has swept over the inan-
cial opinions of Senator Morton since August
q, 1867 may be gathered from the following
extracts from speech of his III ade in Colum-
bus, Ohio, at that time.
"The Democratic leaders of the North intend
to make their final and desperate stand for
existence and power upon that question (repu-
diation). They will appeal to the basest pas
sions of the people TO their cupidity, TO their
Seltshness, to the Satanic tenn ptaIion of eXemp
ton from taxes. to the poor against the rich,
and to labor against capital One of the
latest forms in which reputation has shown its
horrid front is the proposition 10 pay Off the
whole national debt in greenbacks, Il II 1t is
very absurd to talk about paying debt by Civ
ing another obligation for it which is not TO be
paid. And notice this propositions as weak
device of the enemy, by which they approach
direct reputation"