The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-04-18

4uo OctHocTuLic purity VI 1uulhuu pIU-
pose TO redeem them according to their
tenor. It proposes to give me for my
100000 in gold, loaned in 1864, $685.
900 in legal.teuder notes, which can to-
day convert into sl40, ,4S0 in gold or, If
| prefer to hold the Iegal-tenders, I can
use them in all the business relations Of
life. In addition to the s140 ,480 in gold,
which could be obtained for my 100000
loaned, have received the interest semi
annually in gold, and have been exempt
from all taxes upon my bonds.
Now the question il asked me: Am |
willing to receive the S198,000 in legal
tender notesY / answer, am. Is there
any reason why should be paid $685.
900 in gold2 What axpayer is willing
to be taxed to pay me this sum in gold 7
But it may be asked, Why pay me any.
thing at this time? Why change my re-
lation TO the government as one Of its
bondholders? If my interests only were
TO be consulted, no payment would be
necessary, for | must be very unreasona-
BILE not TO be satisfied with the semi-annu-
al interest in gold on my sl98,0O0, and
the entire exemption Of that sum from
taxation with the assurance that this con-
dition of things is to continue for twenty
years at least, aud my bonds to be all the
time equivalent to gold. But there are
other interests Of the nation TO be watch
cd over and protected, and the tax-pay-
crs, who have the debt TO pay, propose TO
consult their interests and pay it now, as
they have the right TO do; aud hence,
they say TO me, you can accept payment
or not; VIC do not propose to pay you in
tcrcst any longer, nor do we propose 10
pay you sl9s,00 in gold.
propose to accept the greenbacks.
The Secretary of the Treasury asks,
''How would the government of the Uni
ted States stand before the world,-how
would it stand in the estimation of its own
peoplc,-if it should decline to pay, ac-
cordiug to agreement, the money it bor-
rowcd when It's very existence was in per-
il, and without which it could not have
prosecuted the war, on the ground that
the lenders took advantage of its necessi-
ties and purchased its securities at less
than their values"
II will not be denied that, during the
war, there was a combination Of moneycd
men-money-l ey-lenders-persisteut in their
efforts to depreciate the government Sc.
curities for the purpose Of purchasing al
less than their value; and yet, our gov.
ernment, unlike any other on earth, in d
time of war, permitted these combina.
tions 10 exist and its securities TO be de.
preciated, and dare not exercise the high
prerogatiye of government TO take the
money of these loyal citizens, when il
was daily, by force, taking the Tires oi
thousands In nothing did the Lincolu
administration exhibit its weakness more
than in this. Now, these loyal, gold-ex.
acting money-lenders propose to take the
property left by those whose lives were
Sacrifced for their country.
To the lender of money TO the Gov
ernment, when its existence was ir
peril, no one has ever proposed to dc
less than TO return TO him the ''money
borrowed" and its interest, according
TO agreement. To him who "took dd
r0ntdge Of Ae necessities Of his goo
ey7ament, and purchased its securitie,
at less than their UdI,te," we propose
to do the same thing-pay according
to the law.
Now, as every man wants his invest
ments to be sure, undisturbed, anC
paying, would it not be wisdom in the
holder of 5-20's, matured and matur
ing, to accept payment while he car
make money by so doing, as l have
demonstrated, instead of endeavorine
to force the people to acquiesce in al
unjust and illegal demand?
Having answered the question ask
ed, from the position of a bondholder
which had been assigned me, | vii
add few words more:
4 The class ofmoney-lenders to which
the Secretary of the Treasury refers
who took advantage ofthe necessities
of their government, and purchased
its securities at less than their value,
are, of all others, the most clamoroui
for gold, and the loudest in their pro
tcstations of loyalty, and of other sac
rifices for the government. Govern
ment is supported by taxes. The blood
and money of the people sustain it,
Pay these men in gold, as they demand
and where is their sacrifice for theil
government Who sold government
securities st less than their value, anC
why were they so sold? Did honest
loyal money-lenders and tox-payeri
demand the sacrifice ? Was it not
rather that class of men who created
governmental necessities, for the pur
Ipose of dishonesty supplying, "anG
taking advantage of them," who op
posed just system of taxation, be
cause it would have brought to the
knowledge of the people the extent o
their robberies; and who, by all the
appliances of money to corrupt legis
lation, secured the funding of non-in
terest paying legal-tenders into gov
ernment security which exempted the
holder from taxation; which security
when offered in the market, they i'm
mediately sought to depreciate, unit
in their possession, "at less than itl
value - and now seek to appreciate
by forced construction of the law, and
by the continuation of an unjust and
unequal syssem of taxation?
/ The charges of bad faith against the
advocates of the early redemption o.
matured and maturing 5-2o's. accord
ing to law, come from this class Of
bondholders. They will raise this OF
any other cry which they think will
enable them to hold their wealth from
all taxation, They want the industrial
and producing classes of the country
IL. l. Il. IL