New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-10-30

by those greenbacksf II will be the task Of genera.
tiOns But that apprehend is not the Democratic idea
But 10 be Of value OF bonds the new Issues
must be made legal tenders Whereas the power to do
thati An tlrogh the war itwas part Of tho Demo.
cratic creed that the LegalteDder aot affecting the
ali their judges held SO held Chef Justice Deio SO
Jusdoo Woodward Of Penpsylvalja 80 held the Couri
OfAppeals OF Kentucky. Our Foirts sustained tho act
upon the mperous necessities OF war. But not yet mas
been upheld by the supreme Court of the United sLaIes
And now whcnthere IN necessity except TO autipate
debts not due In fifteen years, aud thus delramd Io
creditors II is proposed that the Government ha Issue
millions ot greenDaeks aud declare tnen i nos h"d
There Is not Court In America that w9nm l,ol ob
such law void The only result wonil NJ 20 P,.usS
me country into seaD htigal1n ChpIro 1 sim
HOratios sea of troubles" would be the cam " u
Inels morning and would END III necisoh ~ NV ~
preme Court Of the United Staes setting asae lug @
unconstitutional and bringing disaster anu ~ IL
upon the debtor Interest OF me c"u r ~ uationa debt
for anotheri "Ah" say our Democratic frennT' q, sr
compish thatl There 49, OF course, u ~ 70 enact
tht is applicable only TO the Fivo-Twentles ~ ,Js
a Law prescribng time for payment. ana tnau a. ,a,t
moi nrpsemted by fixed day shall cease TO draw M
SUPPOSE that to be done. would Juss II nhiicatons
"f Government are IN certain sense ai'9senTTr m
orary. Now, suppose pissoi,Is sor,'sct lie secs
that it payable demand he Turns TO ,ne & ~
and demands payment. and 1t Is dshonoreu. NO W.
aT ia better settled than that demand paper wheh 40
manded and dishOnOred. draws Interest run 49,,
tl and SO the Government subjects itself 10 pay in,sr
t an ia dshonored greenback and the creditor has the
same remedies that he would have Tor Ielus 10 Iay
interest upon the bond lie could sue In neither chSoo
,nnst wait till honesty ability moves tine Government
fo nav Bur what would be the effect Of launching upon
currency. making it legal tender shall not stop
TO point out the disorder the confusion The inatlon re
speculation, and bankruptcy that would follow. Tie
commercial world lacks not examples OF the consequences
OF such irredeemable Government currency. Toe
end would be that national finances would have no
basis save the power OF tho printing press ana even
that ultimately would fail for It's paper promises Moua
depreciate till tile steaupress could not run tDem 9t
enough pay the cost of the power that propelled
it. One project OF pomceratie staesmanshp - to wooP
up the securities deposited by the National Banks anu
substitute greenbacks for them Those banks nave some
sssocoooOO Of bonds In deposit at ansio9 70 ssGe
the payment o. their circulation Ihst on LUIS
little short OF SOQOOO0O The people Or that crieny
assets OF the banks by suits judgments executions, anu
reeeiversps, aud the right 10 Tau Oaek upon lie sepul
ties deposited at MasugtOn Are We 10 nave lhese Sc
from under the banks destroyed andbe
people left With no Indemnity save the peslDiy III get
ting the batch VI greenbacks with all the chances i
their being declared unconstitutional Inc system OF
national banking may not he perfect but 10 the peo"
can p6ssiy be made MI seymour is promenadins the
West point out defects inequalities IN that banking
itself ia 10 DC overthrownI While his champions are
attacking and upr0otng the system he the Candidate
Ouses OF the West because has not equal bahlug Iac
tues with the East Let the country rst save tho syste
S of p%t to nurse IN tie arms Of it, deadly foes While
deny that any portion OF the existing debt can Dc ud N
tender, say also that u is against morality ahd g2od
conscience 70 force The payment Of ono dollar tr
time the bonds were issued no one Dreamed
that they were TO be paid otherwisehan ~ we currency
or 20 years at the oplion OF the Government because
every body supposed that the Rebellion would end and
specie payments be resumed before the periods would
expire The Government took time solely for that con
sScSy c cdme e Why 70 ps the fei Surely Mere
Just as easy pay groenbacks ia one as IN tive years
or an five In Aud IL not quite as bpOf
tant stop gold interest during the war 40 nov" Inc
Government took the time soey 10 DE rS S, - o @
ia five, but gave no option OF tine 70 inc creultoi.
Nothing can he clearer man tns IND n Is
a remarkable TACT that with all tue shDrts OF
the allies OF the Rebellion mere ad eSew more ua'S o
war 10 cripple the Government by deplecaus Us 60
euTite, not mad the audarity 20 assert ta me Gov
eminent, pai at all, would lot pay "a tho currency
Of the world. They did proclaim that the Governments
would repudiatO that IL could never pay thaI iIsDoDdS
dollar bat their troacherous souls the do'il seems
never to have put the Thought that The G1N5rnnehi
promise NitlOut interest. Beside, Ia making to green
backs og. tender i was expressly provided lhat ny.
hye-t geDties-Heyer that hvetHenues should DC "a
shansss9s for them Is p SsdsS Of mat eenpa S
swapped them for a bond, tho Governneht coud
again ONLY for another swap. until party or tle
other cot tired Of swapping Are SUCH absurd results
chargeable other upon tho people OF the Government
No Tho truth is the Government. ~ it, Issue OF green
backs and the legalonder pTotisOn made ioIced a
from thopeope aud for the relief VI the people provided
means Tor funding that loan ~ the pleasure OF tue
people, but 10 was never contemplated thdt Tue people
should, On demand, surrender Tue funded secu4g 10
new forced loan The clear intent was to prevent the
enlargement OF tho forced loan BY providing means Tor
funding the currency M the Government shonid be
ready 70 pay in gold and tina. Intent IS ths sP OF ihs
alive; and, thank Heaven thai sliiIt rs no '.onS gIIu
the transaction, bat IN tho Jusucc1"Ving hearS on the
people But the gravest consideration OF ihis question u
in it, effect upon character IA nation "a hunpIcd
million, OF our bonds are held abroad. Germany
residue are scattered oil the continent and Ia Engnd
They have bought them ln good faith. IN tho cui.tiS 81
Government to stand up IN the face Of Christian CIV
ilzation aud demand Of those creditors to SURRENDER
their bonds and take promise To pay on demand WIN
out Interest on which demand WI bring nOtlIS Du' a
hollow Iepulsci Tie Suggestion 9i the lGsH Hsi,es,
by compulsory Law tho foreign bDndholdet DE- cur Oh
from his Interest, aud compelled 10 exchange hls sscu!
FOR greenbacks take nOthng, what - thai but tho re
iee o ano;hsr PoGeri Aud what IL to hinder that
Power from fadicatibg tic rights Of IL subjects by nae
war Would como but / gay that by The Laws
Of nations il might ilstiy come Tor The wlonsfl
act Of this Government IN fraud OF INC AnDlscis 81
another admits no Other ultimate ieineaS AS 5pR
Of war Mat nation would lend 10 anatJn OF rrpudia
torsi As an American, declare before Heaven,
ashamed to dwell upon tls theme. blush l0r the ais
aSaor -+ va r O Gop 1 o oSs
has cost us already millions OF treasure hl ~ mas COZ az
what ought 10 De dcarcr still 10 every American heart
part OF the national honor some part ~
the moral glory which exhibited OIL the nclds OF battle
but far more III the grand humanity Of our triumph Eat
have the plea Of necessity for adopting this Demo
cratic repddiaoni poor one Mt best " would be- bnt
even thai denied We stropg and rich. y tue
blessing OF Cod We have conquered nc rebellion ~
were the millions paid IN its progress ours were
the years OF pain and suffering, OF doubt OF deeoa-
ton and OF death. We have risen from i stronger
aud richer than We entered a. But not alone IL he
duty that remains ApOsterty richer migher far than
We, 10 rushing with swift steps TO and us IA bearing and
removing gigantic burden. Our forty millions of eO
pie wall be- eighty. Our twenty thousand millions of
wealth will be forty The duplication OF these viii
give Us q quadFupled dvisor OF the debt Pcndlcton's
per capita Of scyenyegt dollars will soon be fourth
Of IT, There reason, therefore, why should hasten
10 do great wrong II do II the conscience Of the
nation will never lie easy Till reparat0n IL made I'll
therefore and cheaper 10 DO night III the outset
oar rst duty is TO restore tho national credit by signal
victory over reputation and repudiators ALREADY We
have scattered Their hosts We have sent Their captain
from the plafor but desperately seized from the Inc
QUALIFY OF banking facilities. Already he prays NOT Tor
ytoty of his pr1i oles 20 his made second JohGsJ
Judas docs ANY man plpse wo want SECOND JViD