The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1868-04-08

C.
=. %. ...,
- 8 . . s
When tie ten-ioftles were issueu' ouiy
few montnssia.er,. the neWspepsis uso,sr.
/ ed, under authorley OF Jay sNooA .na
| they were the on'yl ponos Nnose pIinciPAl.
/, was payable In gold. Inc one oeeiaia-
ton may onseetn ne. otner. -,
/ H Is sara those VINO purchases tnese
bonds beileveds that they "ereeto oe Paid
IN gold, ! can not aver, py illen as, az
they dld mot peileve II, pus 40 aver
thatsthey had NO reasen tos pen ese. ~
The Law was open to their iasPe clip e e9e
was PLAIN. Iney knew. wet.s e. 3s snAs w w
Government OF Inc Cplteu. Dtates spfiu ~.
every other debt that 1T owed, except on
! " the interest upon the bonds, IN legal
tender notessa 4Ley kneHt1at they thsp7'
hselves discharged every DEBT fnat tneE
owed in legal-tender notes They skPeW
that they themselves, when they bought
/ these bonds, paid Tor tiiem.ih Legal 4ender
notes, and thay had no reason to- helieye
that an exception would be made in their
case alone - - 80 s.-s.
| It is said that IF these bonds are paya-
! BILE In legal. at all, they must be
paid out ofthe identical hundred and fifty,
millions issued under fhe act of 1862 --f
The objection is too pusriIe for notice.
1t ia said these bonds are not payable In
| legal tender. because the actsof 1864 de-
clared that The amount of legal tender
notes should never exceed four hundred
millions, and thus sum is not equal to the
amount Of the bonds. Indeed Then
by ike reasoning ther are not payable in
coin, for all the Coin in the country is not
| equal to one fourth ,ofthe Eve tHeuties..
Now, gentlemen, I have thought &c
worth while to dwell thus in detail upon
the legal. and moral Obligations. OF the
Governnentlt TO pay these bonds ino gold,
because il has been thought, in som6f
I Quarters suas.; "a. a.as4er. to exexz ar
! suurpt to-erJ out serePudiatIon repual-s h-s
alton !" There u not particle OF rePu-
diation in the proposition Neither the
law, nor the contract, nor the lace ol ne
bond, nor good morals, require that t9ey
should be paid in gold; Gheers PC; Is
psdlation mat us Is cnarge Wpicn c9lles
WITH ai an eAcenent grace ,r1m NE nsn vs.I5 VIZ,
IN Ohio, ana lndiana:ss ana new. 1oiks
and Pennsyivanla, ana sPereaRs mere ;lA
Wisconsin, paia; IN iegai,IenosE no,es tns
interest upon pn,l 'ne state aeps, Wnlcn va. was
contrac5e6 70 Oe pa'a Ia go.d. Hspucis ~.
na;5 In. asnrac;eteda 1nsners the Limited
Ssa.. Sa,a =. af is61 rbicb -veya bonqbf
sa- s., aold a. 4 nsr snd IN TIE contfse{ we're
| ~ esina;a r s,oId -Ronn5;sasSn lss 5ha
charge w . is =, de bS itbs nse,, : ho votad fdS
the law which an,horized everys man Who
hod oarced 70 nav q. hundred doIlars in iI
gojs ,,l, - discbsrge tLe debt By Sa5i1r \
goiu g qssSna sin ugs 1ssy.,,pS;s.;e,, ~ pay
tbava .s arc tbe rennl;aiorsl who after ttev
ave comnelled tbe neople 10 take these
ieaaistender notes in 5ayment of every
nybi;c and nr;vate dahl in ln1a,vm,e6lt sc
evs,v STATE and comfy and 9townsKip.
and oitve md railroad bend-now tur2
aronnd and denrec;Ste these notes. and
Gov n ay ore MI sfla IN money AZ tlsev
2 wsre accl.Tsd by All of Co6 eressss % .be.
- ~ - 81 :. ~ he g;ve,, ~ nSbl;c credig
-. echeers : - -.
VI 1 -. n; m;s,, ! dars.ana. me l,eye /. did
oa,e eas .Lat Iaa.l -tan5sr S al, vaa
nov sose ~, stai ~; a5rosod ny; e -
IN Oongless ~ 'ae ''1p Sppyss -
xossa ssa asrTss =. pa 10y
was oau 'ST :..s;- 49, !. 49,. -
oeiesea Mesa'Su pa la -, ~
.ss Wal tN M.neleon M 80 saa;ns. sbs %5Fi6
.ne "a,s - ,,n co. raa sIo,, S.S;5sbS-
were carried on TOT years, upon coIu Da-
els5-anu W1th0Hk 1nHAtlO1, -dBu5en ttuOu ~