The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-10-30
80 Mslse IGIEzIIaENoER MORNING. 1858


aud rewarding the toll of the Iatorer.i ),
But aa the pensioner and 1iabofer are
potn paid in greenbacks, the sentenca
means, u 1t means anything. that the
pondholder shall be paid In the same
way. But Mr.. Seymour has pledged
nltl sell 70 Doth sides of this question;
and those pledges have been Given n,
near together, that in fact. he has no
position on the subject, and his two
dtctory opinions, taken together,
make both worthless.
In his speech at Cooper Institute he
said that the first thing to be done to
restore the credit OF the country was TO
fetnrn'to specie payment, by making
the greenbHck as good as gold. and that
nntiLthis was done the credit of our
ponds could not be brought up in the
market, and that instead of increasing
the amount OF the currency, weishould
make that good which we now have.
On that position think he was entirely
right; but In his speech at Chicago he
reverses his position. He declared that
the currency could not be made good
and brought up to par until the bonds
had hrst been brought up to par in
gold. In his Cooper Institute speech
ne was very earnest and eloquent in
favor OF returning TO specie payment as
the one thing to be done which would
equaltze the interests of all classes, re-
osOtS NV SEeulL OI tne naI1On at nome
and abFaAd, and place our bonds upon
level with those issued by other gov
ernments, but in his speech at Chicago
he not only abandoned this position,
but took ground in favor of a further
Imitation of the currency, which would
defer specie payments beyond your
| lifetime or mine.
In his .speech In this hall, last night,
he again devoted much time to the
question of the distribution of the ma
tIonal currency, and In this matter
seems to think that, like another dis
inguished Democrat, he has discovered
the Northwest passage. The great i'm
portauce that he attaches to Il did not
| occur TO Mr.. Hendricks or any other of
the ten Thousand Democratic speakers
who have been instructing the people
during this canvass, and Will not occur
to the great mass of the people, even
after they have heard Mr.. Seymour. 1t
is weak complaint against the action
of the Republican party which will not
bear examination, and of which 1 now
take my leave. "a.
In his speech here last night, he
sought to make an appeal to the soldier
and the farmer by the following state
ment: "When L go over this country 1
find the advantages of government I'M
equally distributed. Its financial pol
| icy bears heavily upon the people, and
| ind a class of men complaining of It.
think justly, toe, this Is not a-goYern-
ment that deals with all alike. How
happens it under this policy. that the
| value of the security of the boDdholder
goes up and the value of the pension OF
| the soldier goes DOWN. How happens
it this day that the great agricultural
interest of the States, dourishing as ii
/ is, droops, while other interests have
| been so pampered that they lave for
gotten, ors-are- not disposed. to. divide
the advantages they enjoy in this gov
eminent, with other portions OF our
land" 81 s,l @
If Mr.. Sey mour really desires to fos-
/ ter the interests of the penstoner, and
9th farmer, he will endeavor to make
| the currency in which the pensioner is
paid, and which the farmer receives for
ibis products, as good as gold, instead OF
deprectating its value, by flooding the
country with a new issue of irredeem-
able paper money. But, as 1 said be-
\ fore, upon. financial questions, Mr..
/ Seymour now has no position or stand
Ing before the country, and Will turn
Il aside from him for tune to consider
the financial theories of Mr.. Pendleton
N which were impressed on the New York
Il Convention, and Incidentally express
Il my own views upon that subject.
II Mr.. Peneleton is represent to haas
said in several speeches during this
II present canvass that 1 Endorsed his plaI
for the payment of the National debt III
legal tender notes, commonly called
1 Rreenbacks, Mr.. Pendleton claiCls thai
4 The government has the right 10 use the
i existing legal tender notes in payment
II of the $40 bonds, and to issue new nOtel
with which to replace this Nationa
Bank currency and, to pay of those
bonds. His plan for the payment o
the national debt depends almost en-,
tirely upon the further issue OF leRa
tender notes, and necessarily involves
the great initiation of the currency ant
the Indefinite postponement of return
to specie payment. How far my posi-
ton comedies with his will appear by
the following statement: In speecl
which made at Columbus, Ohio, Ii
August, 1867, 1 denounced the peroposi
ton TO issue legal tenders notes to pay
the national debt is in effect repudia
ton, and disastrous to the business o
the country by Initiating the currency
In May last made my first speech II
the Senate on the subject of finance, il
which attempted to maintain the FOL
lowing propositions;
n. That the further initiation Of tn
currency was not demanded by tn
people, and would be injurious to bust
neess in every department, and espect
ally to the laboring classes, and woul'
indefinitely postpone the return Il
specie payment, -.---.-...-
2, That the first duty of the govern
ment was TO return 10 specie payInen
by bringing the legal tender notes Vi
to par, and making them as good u
gold; and that this could be accom-
. plished by fixing future day, say til
1st of July, 1871, for the redemption @
ii the notes, .and reserving the surplu
gold in the Treasury for that purpose.
! Afterward, on the 18Th OF July, Il
! reply to q Senator, argued that, in tb
payment of gold bonds, the govern
! ment had a right to use the existin
/ legal tender notes which were issue
before the sale of the hrst $40 bonds
or contemporaneonsiy- Herewith, an
, with which the bonds we're purchase
r from the government. This did nj
n as a matter OF taste or desire, but as IN
4 opinion of the laws, and have certain
lIY read or heard nothing to change II
= nor have lately denounced It as
fraud or a swindle, as stated by certai
= newspapers, though / have used sue
= Language freely toward the proposal
3 issue new notes, with which to pay III
Z bonds. This proposition will have n
s political Importance, however, unles
the depreciation of the currency an
i. the premium on gold shall be matT
q tanned as a permanent policy, in whtc
= case the people will be led TO consid'
what are the legal rights OF the govern
ment In the payment otthe public deb
4 But prefaced this argument with II
!. declaration that the first duty Of u
"a government was to return 70 specie pa
q ments, which would put this and imam
~ other troublesome questions out OF q
!, Way, and here is what said on tn
- question: ut is not important beyon
+ the time that the government shall r
l., sumo specie payments. Whenever v
: make the legal tender note as good
:, gold. then il is settled, but 1T IS an In
portans question, and may be an 10
nortant and troublesome one until tn