Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-12-11
1Bondholder. About.

--0OHc -OtdtcS m6n-' are In faYOr OF pay
ing the public debt in Greenbacks, but not
until Greenbacks are made equal in value
to gold.-Crisis. - 1fftf #
Does the Crisis wish to be understood as
being one of the papers "called Demo,
cratic" " that is making ""a vigorous at
tempt to commit the Democratic party
20 Reputation P" The STATESMAN has
said that this attempt will not, and should
not succeed. The STATESMAN believes in
and is the advocate of the payment OF the
Public Debt as Hon. GEORGE II. PENDLE-
TON advocates its payment. That plan
does not contemplate Reputation. Ac-
eording to the letter of the Bond, he would
pay, So would we. He would substitute
Greenbacks for National Bank Notes, and
thereby save over twenty million dollars
ayear. So would we. He would pay the
E5f20, Bonds as they become due in Creep
backs, looking to the ultimate payment OF
the Greenbacks.i So: would we. To the
end that these Greenbacks should be paid,
he would cut off every needless expendi-
ture OF the Government, so that taxation
could be reduced. and yet yearly excess
OF receipts over expenditures be realized
with which the whole Public Debt,
whether in the shape of Bonds or Green
backs, could be laid off in comparatively
short time. So would we. Assuredly,
such financtering would give prosperity to
the country and bring about specie. pay
ments without a jar or depression to
business interests, u, It. would, too, result
In the payment, to the last cent, of the
War Debt of the United States, contracted
in deprecated paper worth but forty cents
on the dollar." y-aI s9aiw fa =r....t
with. Reputation Mr.. PENDLEroN has
not now, nor has he ever had, any sympa-
thy. Honorable in all his private dealings,
he would g1ard with jealous care the hon
or of the Federal Government, and at the
same time see to it that the creditors of the
'Goyernpnent should not have additional
immunities granted them at the expense
of the people. 9i.
II The Democratic State Convention that
assembled in this city on the Sth OF Janu-
ary last, was one of the largest and one of
the ablest that ever assembled in the city.
Neither the editor of the Neu York World
nor the editor of the Neto York Tribune
were in that Convention. Hon. s. s. Cox,
MANToN MARBLE, AUGUST BELMONT and
JAY Cooke did not participate in that Con-
yention. The platform, when read, as read
resolution by resolution, was applauded
with tumultuous and emphatic applause,
1t was in fact the unanimous expression OF
the Convention, and we think that the en-
tire De mocratic press of the State was
cordial and hearty in the approval of that
Platform. On the subject of the payment
of the Public Debt, this is what the Plat
form declares: 7AI 'i3af. -@3iii-'i'i
Resolued, That notwithstanding the enor-
nous and conceded frauds in the creation of
the pubic debt, the faith of the country is
pledged to its payment, principle and interest,
according TO the terms of the several dcts of
Congress, Under tohich the bonds representing
the debt aoere issued, but not otherwise, and
we are opposed to any plan for extending
the times of payment, thus increasing the
amount of gold interest to more than the
principal, or to any declaration by Congress
that the principals payable in gold, which
would virtually add more than a thousand
millions to the burthen of the debt, aud to
these measures are a part. - .fr-
RESOLVED, That, neither forgetting nor
denying our ancient faith that gold and
silver coin form the currency of the Con-
we declare that the five-twenty
bonds should be paid In the same currency
received by the Government for their is
'ue, and that by the withdrawal of the
granted to the National Banks
his result can be accomplished without an
Indue or dangerous increase of paper
money. now the only circulating medium,
.hus relieving our people from the burthen
If debt, the tendency of which is always |
o corrupt and enslave, and our Gov
,rnment from the reproaeh of paying a |
favored class in gold, while aischarging It's |
1ebts to, all others, including pensions to
Widows and soldiers, in an inferior cur
'ency. '4 'f'i2R
Resolved, That this plan violates no law,
mpairs no contract, breaks no faith, and
instead of retarding return to specie |
payment, is the shortest because the only |
'afe way of reaching that end.
These views, at the time the unanimous
expression of the Democracy of Ohio as
represented by delegates in State Conven-
ion, were understood to be in perfect har-
nony with the views entertained by Hon.
GEORGE 81. PENDLEToN. Reputation is |
lot even covertly insinuated therein. The |
Convention was satisfied that there had !.
,een enormous frauds in the creation OF
he Public Debt; but notwithstanding
hat, they regarded the faith OF the country
pledged to its payment, " principal and in
crest" and they proposed to redeem this
pledged faith by paying the Bonds SAC
,ording to the several acts OF Congress"
lnder which they were issued-in Gold
where. they called for Gold In Greenbacks
where there was no specific provision to
he contrary. This, they held, violated no
aw, impaired no contract, broke no faith, |
md opened the most direct way to a re-
of. specie payment. 1t will not
10 to say that the Bondholders" were
I about" on that occasion and controlled
he action of the Convention !; for that |
would be equivalent to saying that all the |
OF the Convention were g Bond |
,olders." 49,. ia ~.
The part of the Platform OF the Ohio |
under consideration must stand
IS the law of the party, until the party III |
State Convention shall deliberately revoke |
" qualify it; and any journal that in the
Meantime teaches Reputation, absolute
,r qualified, under pretense that it is the |
aith Of the party, teaches false and per
licious doctrine. u
For the present, and until satisfied con-
lusively that Hon. GEORGE II. PENDLEToN |
md the Ohio Platform are wrong touching |
he payment of the Public Debt, the ONO
STATESMAN in the future, as in the past,
will maintain that Reputation is not, and |
hould not be, part of the Democratic
reed.