Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-07-19
RADICALS FORsAKING THE RADI-

states, where the law does not express"
ly provide that the obligations OF the
government shall be paid in coin The
Radicals In their platform, adopted at
Chicago, resolved that the, creditors OF
the government, at home and abroad,
should be paid mot only according to the
letter. but the spirit of the laws under
which it was contracted" This was in
tended 10 be understood as a pledge that
the bonds of the government should be
paid in coin, and it is so held by the great
body ofthe party for whom it was made.
There are Few, however, whOinsist that
it means to pay thefive-twenties in green
backs, but they are met with the positive
4 assurance that these bonds could not
have Teen negotiated, even at the heavy
discount at which they were sold, had it
not been understood by those purchas-
ing them that they were to be re-
deemed in gold And the great
body of the leaders of the Republican.
party hold that this is the contract, and
insist that it shall be carried out in good
faith But the Democratic party have
taken the Interpretation giyeu to the
law by the Chairman Of the Committee of
Ways and Means (Thad Stevens) at the
time the law was reported and enacted,
and have wisely resolved that these bonds
| should abe paid in the lawful currency
of the United States" They are opposed
TO having deprecated currency for the
people who pay the taxes and a specie
currency for the bOndholders who pay no
taxes This idea has become so popular
with the people that Radical leaders are
openly espousing this feature Of the
Democratic platform. Only few days
ago Senator Morton, of Indiana, delivered
a prepared speech in the Senate in adj
vocacy of the payment Of the fye-
twenty bonds in greenbacks, and he
argued TO show that the law 80
provided He declared that the as
serton that the government is bound to
redeem the fve-twenffes in coin, lis not
only without the law, but it is in ex-
press violation of at least four statutes"
The position of Senator Morton is more
easily understood than that Of his party
as declared through the Chicago plat
form. He means to pay in greenbacks,
which Congress has made a legal tender,
but the platform of his party is con-
structed in the interest of the bondhold-
ers Not so the Democratic platform,
and old Thad. Stevens is among the first
Of the Radicals to make this discovery
and to so declare The funding bill
came up for consideration in the House
Of Representatives on the 18th inst,
when very important episode occurred,
which is reported as follows:
During the discussion Mr.. Stevens, who
advocated four per cent as the lowest rate
of interest, said he had understood the
gentleman from Illinois (Ross) to cay that
the bonds should be paid according to the
New York platfoTm-what was that plat
| form?
Mr.. Ross said il was to pay the 5,20s in
lawful money.
Mr.. Stevens What do you call lawful
money?
Mr.. Ross-Greenbacks That is your
doctrine and mine, You know Laugh
ter.
Mr.. Stevens hold 10 the Chicago plat
form az | understand it on that point, and
to the New York platform, that these bonds
shall be paid just according to the original
contract. e = IT,. , % A.aE B =
A member-The law.
Mr.. Stevens-According TO the law
Mr. Pile-The spirit and letter of the
contract
Mr.. Stevens-What was that law that
the Interest should be paid up to a certain
time at 6 per cent. in coin after the bonds
fell due they we're to be payable 10 money,
just as the gentleman frem Illinois under
stood it, just as he (Mr. Stevens) under
/ stood il, just az we all understood it when
the law was enacted, just as it was sx-
planned on the floor dozen times by the
Chairman of the Committee Of Ways and
Means. Ii he knew that any party in the
country would go for paying in coin that
which was payable in money, thus en-
HANGING the debt one-half-if he knew
that there was such platform and such a
discrimination on the part of his own party,
he would go for Frank Blair and for the
other party. He would vote for no such ]
swindle on the taxpayers of the country.
He would vote for no snch speculation in
favor Of the large bOndholders and mil
lionaires. He repeated, though it was
hard TO say il, if Frank Blair stood on the
platform of paying according to the con-
tract, and if the Republican candidate
stood on the platform of paying bloated
Spectators twice the amount agreed to be
paid them and taxing his constituents to
death, he would vote for Frank Blair
even if a worse mal than Seymour were
on the ticket. Much excitement and SEN
sstion.
This is very emphatic language, and
we do not wonder that it created quite a
sensation II is a warning to the Radi-
Gals, who are attempting the dodge of
having two faces on the bond question,
that there are Radicals who will not
agree to pay those bonds in gold. This
speech of Mr.. Stevens will cause a fut>
ter throughout the country, and it will
open the eyes of those Republicans who
honestly believe that the fve-twenties
should abe paid in the lawful currency
of the United States" as nominated in
the statutes, to the fraud which the lead
ers of their party have attempted upon
them by declaring that the 'letter and
spirit Of the Law" is to be the guide in
the payment of the public debt thus
leaving the bOndhOlder under the |
impression that he is to be paid |
in coin, while the pensioner and the SOL
der and other creditors of the governs
ment have to be paid in greenbacks or
nothing 1t is to remedy this outrageous
inequality that the Democrats inserted in
their platform, and will insist upon its
being carried cut in good faith, that the