The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1868-09-24


new bondsito take MP the old zones,
which new bonds are,lto bear only
four or four andsa half per cent. in
terest, and it does not need man of
very extraordinary understanding to
know that if the present bonds are to
pay six per cent. in gold, nobody.
would be fool enough to exchange
them for other bonds paying but four
per cent. z You find, I say. men in the
West. saying the letter and spirit
means gfeenBackz. aiidi men in fine
East saying they mean gold. (which
will youTftist, this sieadivotaF platform,
or a frank and honest platform Which
says, that where the law does not pro-
vide that the bonds shall Be paid in
coin, that they ought in right and jus
,tice.to be paid IN lawful currency; and
that further declares that the Govern
ment shall be administered upon such
economical principles that the eurren-5
cy shall be made, as It will be made,
as as good as gold Z. tCheerstl t know
just just what the words 'sletter and spir-
it !" mean. To be frank with. You, 1
used them once myself when I wanted
to, dodge that question, thought
that the question at that time was not
the practical one, and was one that
had better be, avoided and postponed,
hoping that in n time wisdom and econ
Iomy. would rule those in power. and
that our affairs would be SO managed
that there would be no difference be-
tween gold and greenbacks, and this
question would therefore be of no i'm
portance. But now that the question
is to met, we have met it fairly and
squarely.s The Interpretation which
the Radicals give TO the words @sletter
and spirit. ). in the West and East, re-
mind Inc Of a man who had a lottery
ticket No. sc. He found that No. 66
had drawn prize, but on presenting
it to- the lottery agent, that person
turned it upside down, an and read ea{d il 80.
So, the, Radical platform is. Co out
West and SO down East. Laughter. ]
Perhaps some of my, very fdignified
opponents and dignifed political
friends will say that man who, is
the candidate for the high office OF
Governor of the State of New Y ork,
addressing the intelligent people OF
the great city of Buffalo, should not
use such illustrations. I have been
taught all my life that you can proper
" use any illustration you please; pro-
vided it conveys the truth in the sim
plest and most forcible language to
the people you are addressing
| fCheers.1 Nov, the same Radical
Congress, whose repres entatives in
New Y ork tell yo5uu they want to pay
these bonds in gold, refused during
the 1astlsession of Congress to pass a
bill legalizing a gold contract. They
would not reco gnize any distinction,
and would not provide BY, law that
men would make any any ,5P|s contracts in
ge1o.i'f lGnoi- zqr-noD JiGt aH. T.
Now what is the whole gold and
greenback question: 2 :; AS ! said be
fore, if there. had been any, wisdom
and economy in the administration OF
the oaffairsi of this Government the
-auestion would not llhaYe aFisen,T be
cause gold and greenbacks would have
been at par; but the theory of, the is
sue of greenbacks andfofi the act ma.
king them a. aflegaltender, waslthatthey
were as good as gold, and if that had
not been presumed to be the case Con
gress would never have forced then
upon the people as legal tender
The law providing for the issue of tbs
five-twepty bonds, provides that they
shall run for twenty years with th'
privilege on the part of the Govern
mentr to redeem them any time aftel
the lapse Of five years, and that tn
interests of the bonds should be paiC
in gold. 1t also providessthat green
backs should be a legal tender foral
debts public and private except OF
duties and the interest, on the public
debt. That is a simple statement o
the law, and the question to-day come
before the American people that tn
law shall be construed againstits let
ter and its spirit in the interest of tn
men who. hold the bonds. My friends
if I thought the doctrine 1 advocate
here tonight was going to injure tn
credit of the country, home or abrea'
I would not advocate it, but ever
man. here. knowsian every intelligen
man throughout the country. know
that this Government cannot and new
er will pay the principal fof thes
bonds inEgoM as long as gold is,wort
as much more than greenbaeks as it
: To-day. Cloud cheers.l If this govern
l. ments cannot make its greenbaek
} worth more than! seventy cents on tn
: dollar, aiti, cannot pay. these bonds j
e gold. There;fis noruse in shuttin
Il your eyes to that, fact If.you are t
$ meet the, question and remove the dil
Il ficulties which surround. it, you wi
2 say these, greenbaeksl will be made "a
= good as gold, and then there will b
> no question as to the payment of You
t bonds. But We, are told that .thes
t men 1ent their moneyato the Cover
: ment during the war, and sincurre
e great risk. They laid their capital {
:. the foot of the Government, and mad
II ita free offering; and now, therefor
t they should beirewarded for thatie1
o hibition, of, theirn loyalty. Well, m
g friends, they gave the Government th
promises which the Government aha
s given, them. Il They, gave the Govern
It ment greenbaeks. Did they take an
+ risk !? LII the lGovernlnentHdid nj
E triumph in the war to maintain its il
slt tegrity, the greenbacks were-n OF wort