The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1868-08-08
More Dodging!

The Ottawa Republican again neglects to
answer our question: Does the Chicago plat
form, when it saws the $50 bonds must be
paid according to the "letter and the spirit
of the law under which they were issued,''
mean that they shall be paid in gold or
greenbacks? But while lodging this cues
ton, accuses US of lodging a question that
paper claims to Rave put to us, to the effect.
whether it is proposed 10y the democratic
party to issue additional greenbacks with
which to redeem the $50 bonds? Before we
answer your question, we believe etiquette, at
least, would require you to answer the cues
ton previously asked by us. However, this
question escaped our notice last week, and
we have no objection to answering it immedi-
ately. We believe the democratic party have
no purpose to increase the volume of green.
backs, at least until they have so improved
the credit of the government that its paper is
about as good as gold. Then, if the business
of the country should demand an increase in
the volume of circulation, as it probably will,
they may issue more greenbacks. The as
sumption of the radicals, that there can be no
redemption Of 5-20's in greenbacks without
an additional issue, is based on the other
assumption that there can be no reduction in
the present enormous extravaganza of expend-
iturc, but that this radical peculation and ex
travagance must continue under democratic
rule. Reduce the expenditures to 500. OOO,-
900, which is $20,OOO,OOO more than any
democratic administration ever needed. and
there is at once saving of over 5000, O0O, 900
from the cost Of the government under rad
ical rule; and good many 5-2O's can be
redeemed without any new issue of paper.
AS Gov. Morton, very good radical author
ity) said in a'recent speech, ''Four hundred
million dollars of currency is enough in
which to invest all the bonds. 1t is not done
at once. The government sells $50.OOO,O 900 of
these new bonds to-day. and receives paw in
existing legal tender notes. These notes are
paid out to morrow in the redemption of an
equal number of existing $50 bonds and so
the process goes on
That's the process. If S4OO, 900 900 Of green
backs are not sufficient to redeem all the SEQ
bonds with, pray where is the gold to come
from to redeem them and thousand million
dollars of 10-40's in addition? The country
has less than $500, 100000 of gold.
As to the two column argument of the Re
publican to prove that, whatever the Chicago
platform may mean. congress, in issuing the
5-2O bonds meant that they should be re-
deemed in gold, it is answered by Thaddens
Stevens in very few words. SIN all the dis.
cussions in the COMMITTEE" he says 1--WE never
talked of redeeming them in ANYTHING but
greenbacks The law had made greenbacks
lawful dollars and we put it in the bill that
the bonds should be sold for lawful dollars
and redeemed in lawful dollars. And when
the bill was before the house l explained it
over and over so that all perfectly under
stood it." And later, in a letter to personal
friend in Lancaster, Mr.. Stevens says that
those who declare the law of congress under
which the 5-20's were issued means that thew
must be paid in gold are fools and swim
dcrs." If these words apply to the editor of
the Rep0blicaa, remember it is Thaddeus
Stevens and not us by whom they are applied,
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