Wyoming democrat. [volume] (Tunkhannock, Wyoming Co., Pa.) 1867-1940, 1868-10-28
The Bond Question.

an address to the unpledged voters of the
United States, in which, after a careful
review of the political situation, he said:
I Until recently had intended to sup
port General Grant for the Presidency,
and would do it still, in the hope that the
! Democracy will obtain majority in the
! House of Representatives, aud thus hold a
restraining power. bnt facts which | have
shown above render it impossible. Bad
J men. with more intellect AMI more force of
character than himself. baye possession of
/ him; and if he be elected President will
/ probably continue to rule hun. and the
country with him; and some o; the worst
existing abuses cannot be corrected against
Executive opposition.
In looking over the whole ground most
carefully, and weighing consequences
we'll | have come TO tie conclusion that il
were better that the Democracy prevail in
the coming election a"d IhuS di id: for
the present the Legislative, while W. re
store the Executive ard Judicial powrrs
No evil can ensue. We shall have SEA,
son of rrpose and time for reflection BE-
fore called o. again To act. There is pro-
found philosophy in the oil Scotch prov
rrb:
"The showers fall short when the wind is still"
have al, eadv shown it will give MS n
season for i'qniry aud reflection. and the
>amr conservative power which can now
give success to either parry can at the end
OF two years 10 the same thing, and place
the Government in the hands of those who
may be then iodnd most worthy to control
It.
My mind has long been made up as to
the principle which should govern US in
The adjustment of the public debt. IL is
ihls: So far as our contracts are distinct
and explicit, We must abide by them, no
matter how unequal or onerous. As for
eXampl', where We have promised TO paw
the interest or the debt, or both, in gold,
national faith requires ard we must So
pay II; but Where the contract is not pX-
phclt, but requires construction, we must
deal with creditors and the people pre-
clS' ~ as an enlightened court of equity
would deal with debtor and creditor un-
der like conditions. For example: The
creditor borrows forty cents, or dcpreca-
ted bank paper worth iorty cents, which
the public calls dollar, aud promises to
pay interest, six pr crut. on nominal
or fifteen per cent. on its actual value in
gold. TIE promises to pay the gold in
tcrest being explicit, the nation who owes
the debt should pay it, for there is M
nSury law operating on contracts with
SOverclgns; hut where distinction is tax |
en IN the Contract between the debt and !
the Intere>t-the interest only made pay
able m g"l]-equty would require that
the debt should be paid in that which j. |
equal III value to the fund received
SoTcreignS have not ALWAYS m-ted out |
this even-handrd justice. The coin of
nations has been sometimes debaSed after !
4 l"an made, 81 that one pound Of silver
and one pound of copper would BE- made |
{" pay what was two pounds Of silver |
when the loan WaS made. This WAS a
gross wrong. 1t - equally wrong. on the |
other side. 10 take the name for the thing. !
and pay AN ounce OF silv,.r To the lender |
i"I tourtruths of an ounc,. borrowed. he |
cause each in its turn was called dollar |
Equity, if called into action, wonld suff.r
"eIthrr one or-the other, but requirt the
payment fom sovereign or subj. of the
amount borrowed. regardless OF name. -
hs should be the rule Of payment. If
currency were borrowed which WAS worth
rorty cents on the d"liar. currency or
bonds of quivacnt value should he paid.
Such are my views Of the duties OF
those who represent bondhodrrs and pro-
Pile, and who are alike the agents of both.
The committees nt Congress who have
charge OF the suhjrct should exAmin" each
class OF cAs"s carefully aud do justice to
each Ii matters not by whom the bonds
are he d. whether large capitalist or wId
owS aud orphans : each and all are entitled
TO equity 10 more, no less. If you
give them less, you wrnug them; if yon
give them more, you wrong the people,
who are the debtors.