The Portland daily press., 1868-10-29
How Seymour Talked When He was

The manner in which Seymour abandoned
his well-settled convictions on the bond ques-
ton the very first night of his stumping tour
has attracted surprisingly little attention. 1t
is probably because no degradation into which
he can now fall longer excites surprise. But
no longer ago than last March, the man who
now plays the demagogue so basely as to talk
Of paying the bondholder gin the same curren-
cy that We pay the laborer and pensioner," ex-
pressed himself as follows:
1t is a mistake to suppose that the bonds are
mostly held by capitalists. Large sums be-
longing to children and widows, under the or
Ter of courts or the action of trustees, have
been Invested in government bonds The
vast amount held by life and fire insurance
companies and savings banks are, in fact, held
ID trust Tor and are the reliance of the great
body of active business and laboring men or
women, or of widows and orphans The saw
ings banks of this State, which are the depos-
tories of the poor or of persons of limited
means, hold about $60000000 of government
bonds. The whole amount held in the State
of New York, in the various forms of trust,
will not fall below $200000000. If we look in.
to other States, we shall see that only small
share of these bonds is held by men known as
capitalists, but they belong, in fact if not in
form, to the business, the active, and the Ia
boring members of society. The destruction
ruin and distress, which would reach into cue
ry lcorkShop and every home, however humble.
We must have uniform currency for all
classes. There is but one question to be set
or uniformly bad? Are zoe to force the bond
holders to take bad money; or are we to give to
labor al d business good money?
The nations credit cannot be bought at
PROFIT unless the NATIONS CHARACTER IS
DISHONoRED.
Some hold that it is right, and that it is due
to the taxpayers, that we should save what
we can by paying the principal of the debt in
currency; but they underrate the force of their
own arguments 1t is a mistake to suppose
chat the interests of the bondhoder and the
taxpayers are antagonistic. The fact is over
looked that in order to make any saving by
giving the bondholders debdsed and aUorthleSS
paper, zoe aoould bring upon ourselves DISASTER
AND DISHoNoR WHICH WILL COST HUNDRED
FOLD WHAT WE CAN SAVE. 1t means that We
are to give the dborer for his toll base currera
cy; it means that the HONOR OF OUR COUNTRY
SHALL BE STAINED; it means that our business
shall be kept in Uncertainty and confusion; it
means that the ldboring man shall suffer by the
increased cost of the comforts Of life We
CANT AFFORD TO SPECULATE UPON THE Ma
TONS HONOR AT so FEARFUL COST.
If zoe debase the currency by anUise issues,
we shall equally perplex business, and destroy
sober industry. and make all prices mere mat.
ters of gambling tricks and chances. IhiSW i'll
end as 1t did IN the Southern COnyederdcy. AT
The outset the citizens of Richmond went to
market with their money in their vest pockets
and brought back their dinners in their bas-
kets; in tie end they took their money in their
baskets and brought home their dinners in
their vest pockets.
Our credit is tainted But for that we could
borrow money, as Britain does, at three per
cent, and cut down taxation. If your claims
we're all wiped out tomorrow oy an issue of
greenbacks, it would not relieve the tear OF
patriots; labor would still be cheated by false
dollars; our standard of value would still be
shifting.
Whatever our views may be, the payment of
we may, generation that will come after us
will decide its modes without regard to any
thing that we may say.