The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-07-27

Thaddeus Stevens, Chairman of the Committee
of Ways and Means, said so Senator Sherm u
SAYS SO; senator Morton SAYS SO; General
Schenck says so; the funding btu of the Senate
taNs 70, the funding bill OF the House says SO,
fol both propose g. paw In legaltender the bonds
which are not surrendered for long bonds at
less interest,"; the Democratic Conventions in
Ohio and Indiana, and HIN lis an Penn sylvania
and every other Western state say 81; the Nj
tonal Convention which sat at New YORK 0y n
unanimous vote said so Yet the Republican
parry In the face OF this concurrent testimony,
asserts That these bonds shall be paid In gold;
and thus at present rates adds seven hundred
nilliOns TO the public debt. know the RepuO.
lcan Convention gave out an uncertain sound,
but their speakers and newspapers have inter
preted IL and given 1t meaning mere The
Government said viii issue legal. tender
notes; we will put them In circulation we will
take Them for taxes; we will require every body
to AXE them for tbs; we can Ouy with them
every thing we need: we will need great
many; we will offer large inducements to
get them; we will issue our bonds bear.
ing six Ter cent. interest in gold; we will
them five years at least To run-Lwenty years if
our nece sSity requires-as long as they do run
they shall pay six per cen f.. interest in gold
Greenbacks deprecated largely Gold stood ut
$50, 200, 300. The capitalist said we will buy
these bonds at fifty GEMS on the dollar They
Thry are free from taxation. They will not be
redeemed, al least for five years. Tn At will give
sixty Ier cent. of the whole amount in five
years. They will not be redeemed until the var
Is over, then giernbscks will be more valuable
l eoln stHnds at lag per cent when we are paid,
we VIII he very well content SO the capitalist
too $50 in gold, and with IL bought 500 bond
He received six dollars year interest, He
nd IL five years, and has received
$50 in god. II he is paid 800 in & cen :
btcks to day, he can replace his original
investment OF $50 with s7l in gold. Twelve
per cent. interest in gold and an increase of the
ca 1 al nearly 80 per cent IL that very hard on
the bondholder, or a very silly bargain? Sup
pose you reduce the interest TO four per cent.
and extend the principal for forty years. II
your debt should be S2,500,000 900, you would
pay SlO0 OsO COCA year. AT the end of forty years
you would have paid nearly double your deot,
and yet have the whole of vour princl pal yet to
be dschsrged in gold. Why are our streets
provements been curtailed? Why have rents
fallen, failures taken place. and why among
lahorers, especially. this cry Of hard times aud
dihculty in supporting their families? simply
because our friends in sist curtailing the
currency, and thus knockiuL down All prices.
In this way the gold interest is made more and
more valuable. Gentlemen. are you satisfied
with his policy? (VOice s. mol norD
The Hon. George e. Pugh was also sarcastic
on the World. Said he:--''If any man has
come here tonight expecting to hear me abuse
General Grant, tell him that he is mistaken in
the person. don't abuse him; shall give him
all the honor, and great honor it is which he
deserves; and ifit were question of giving him
honor, the most devoted of his political sup
porters should not be ahead of me-" BY far
the greater part of both Mr.. Pendleton's and
Mr.. Pugh's remarks were devoted 20 the repu-
diation question, sho wing that this is the live
issue in the West.