Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1868-08-14
Mr.. Pike on the payment of
the bones.

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Mr.. Pike on the pavnnnt IF
a. ho,,S'
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"'e go
II seems 70 me the financial heresies OF
Mt. Pike might nave neen let for rebnke
a"o repreo' W the rum Dissr'ct' whose
opinions ana interests nave no douht he
sedueus'.. .co"su's. an'' Mh'ch he fas
tnuch "eacl "PP"i 'un,,'eS W uhoets'"hu
t,laii INC eoi,ot 81 tne rfsss: "A daiy au-
,hfoizra pune ooas constituted D! the
aepun,leaiis OF 'he IyHt aistfict VIII assem-
oie at Ellsworth next " eohesday Tor the
express purpose ! passing upon his Official
c"houct' ana Ii inc fTeSS u"es not WISH !"
forestall its action by outside dietation. it
mlgn. anofo 10 noiu us peace DAY or two
lou s.y rum ''e'i'1ains the tax
anon OF me nola' 10 aeh1ahaihs their pay
men. III sreennacks Is nut single step
ana 'ilas step IKE mas now taken' and has
lneIeoy p,aceo m. sell IN aPositon anIaso-
histlc 10 t'iat OF Ills party.
NJ. Ih,s Statement as IL stands. does MI
piKc 'ne sraVest i"'"s''cc. II Is based ci-
tier upon a miseoiiceptlon OF Perversion
OF what ne act"ai! salu IN Ills coilnqur
win Mr. Eiaildse. mere Is tue declafa
Ton Nc actuaiiy h'auc' Us ioaha III the DAILY
uiope. ......
Mr.. Eldridge-ls the gentleman in ia
vor OF paying off the tire-twrntcs now due
in greeibacks or gold!
Mr.. Pike-Thcre are none of those bonds
now due. If ere were any of them now
due and wehad Il surplus of greenback: in
the Treasury tn the extent of that surplus.
/ maiDtain that the government has right
to pay them. in that way. Those green
backs are legal tender and lawful money,
and to that extent the government Las a
right 10 pay lis debts in srernbacks.
Mr.. Etdridgc-The right OF tie
government to do so have no doubt of.
Mr.. Pike-And THEN and THEREAF-
TER it is the policy of this government to
redeem every grcegbaek il has issued by
7,aying dollarf3r dofiar IN gold for 1t.
Mr.. Pike instead of being outside of the
philosophy and policy Of his party was con
lucting cOlloqny with leader of the op
position. backed mp nv his Republican as
sociates and ctfectually turned against his
antagonist one of the sophistries will
which the people are deceived.
He saId there are no oras due. there il
no Surplus of greenbacks to pay them
with. 1t there were, would pay The
bonds in greenhacks. and THEN and THERE
AFTERWARDS pay the rreenhacks In GOLD
There is no foundation for the charge thai
Mr.. Pike would pay single bond il
greenbucks. until he has made it as certain
that greenback could he redeemed il
gold as it now is that a coupon for coin in
terest on presentation at the Treasury coin
can be exchanged for coin.
Mr.. Pike has always believed the con
troversy as to what the bunds should b,
paid in is premature controversy "a con
trorersy'' as he expressed it .'about goat
wool" The thing to de- is to return to spe
Gle payments. to make the grcenback
equal to gold long before auy OF the bonds
are required to he paid. &
MIR. Garfield, Que Of the Committee o
Ways and Means, in the same debate
wisely stated the question thus:
have already said that the controvers,
about these bonds is. after all u war o
words. How stands the case? What
the real question involved in the controv
ersy Everybody admits, believe. tina
thu interest on the five twenty bonds i
PAYABLE in gold. AS to the currency il
which the principal is payable there ar
but two opinions. Some say it is payabl
in gold others say it is payable in green
backs. Now, do not think any man il
this House ever has deniedor ever will den
that the greeebacks arcnot themselves fay
able IN gold so that it comes at last TO this
We all agree that the interest ct the i've
twenty bonds is payable in gold and "
Ill agree the principal Of the five-twent
bends is either payable directly in gold. o
payable in sourrth.ng " hieh is itself raya
bic in gold. And that is the whole contro
very.
3. Mr.. Pixies declaration acca rls very wei
with the doctrine Of the financial article
did me the honor Ia publish in Your paper
That ia. that tbc real repudiation fro,
~ a.. wo,;,u.l c,. Al, Il .utr.,;or on,
w"en ',e ~" 80. "'