The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1868-06-24
From the Ohio Democrat.
"TIEE FINANCIAL ISSUE. -

Chronicle and shows how TIA
National Debt may be paid II
"a few years, in Greenbacks
without watering the Curren
cy and without Increasing tht
Faxes.
The Chronicle of the 4th inst, has ar
article on the Financial Issue" which j
full of misrepresentation as usual. 1t say
''the question Of paying the debt in green
! backs is an enigma or cOnnundrum.
"Where do the Pendletonites expect to ge
the greenbacks with which to pay tn
debt?" Why, manufacture them, to b
sure. Has not the Government the sam
power to manufacture greenbacks and max
them legal tender in payment of bonds
as it has TO make greonbacks legal tende
in payment of private debt?
We should not take the trouble to repl
to the sophistries of the boDdholder's or
gan-for the falacy of its arguments ar
apparent on their facs-but the know tn a
he expects us to reply, and as nothing i
easier, we proceed to do it.
In the first place, it must be promised
that the Radical bondholders 10 not want
the debt paid ALL for that would spoil their
occupation as money lenders. 1t has beer
said by some one. we forget who is was
(perhaps in one of Mr. Lincoln message
that national debt is national blessing
and the radicals, in opposing the payment
co,,trr o how t,,nt ,her considor Z bloss
;nT aSd aro anv;on. ~ nernotnatn K
;nciasd of nop;no il oT Hapn;Iy fnr tl,o
1;rt,,a r. and ;ntoll;rcnoo IS tba pao,lo thnr
,,ro+a. ,, =, o,aar nP dabt and aro nnnstantiy
dar;s;na Moons 10 sfoot hot ord NJ
,.,o "a s.hor ~ |ran,oI" ho,u ~"
,,o,;onal "u o. doht con ho na;5 IF IN faw ,oors
aad i' tbnt 10 10 n,;,bn,,t ;roraos;ra thc brr
AN u 'ne, .oUot;a ''"p~' nd ;tb nory sl;aht
a., &c 10 ''1,a,,a,, ~ 'l,o on1,,trT. or,a
H. Wv H. ~ 80 tn o,,tro-,ny, t tho
we Ha"'so nse,a ,n" raP1 tbo faots stataS
pUItsl';o Tha ;ntaroat ba".;n AN. nf tba Tm;.oa
c.n4a - IL naao oi'Ua
S,a.oof NV n.y. u,u ~ ,e tEo iso' T,oe,,
e. 20 90" " go s9I 0f tb;s snn, tbero "ra we
S5"c 6no EnH :. PooJ, ~, 5orns;. bar.I-one
%op5, 3S QSgVUo II i%''us T, -" nd ;nst"aI ~
'rL;ab ~ : ;snnna 4o tLa pn,'L e9oo noo Hnn W
Nntnnnl ,ti Pam ~ n ~ Nnr ,Yo ,roosa
Gm1t va al =; 49, Pond, % mo m Jppoe @
ia iaoo ~ th H,, III ~ Soa,ban nI ,bnS o+
III of ~ nat;on1f ; MI nnton altnratl,ser ~ c.
NJ VI w l,'a, "Il'% that np,Ii o,l
,G" ~ l. p'", noa's .o 'rI, ro "ou,1 o no
.L'' hnvo not;nnal .%; o,rrsncv ~ ro sbnnM baro
IN, :; If tI .aro.t
- ~ Jbt da5e =, si'e eGe
so ri 81 49, o'J tl,,s 600 e6n 0on an,,1,nii,,
yronid a. o "s sarea IN ;ntarost oloro 70 y eay
,,a,b;a,. af ,ho ,,a;,a ~ tba ,,nvnrn,,,,,,t
nhoro notas arc i dostroved W. WIN tbe
nI' ~ on,t,nrart tb;s nro,os;t;nn r.
bo oan
" A. th. closo ot tho 1vov o,,r n,r;onal lebt
b.3 raaoLad .a.1 I ;ts ,,o1,;ra,,, nr in rla;ne,.
'pord, ~a % had re,cbnd M i. h;ghaSt noint n nm
,nnro;ai doIIars Att that t;n,e. tbo naner
a,,rronnv ,oa of tho oo,ntry ono,,ntod N nyar
~, nas ,oo rlon,ra NoLodv rnloeo i wo,
tbo Lankera who live hv joanino their funds
,t - and * nov cent Since that fine the
,ircnIat;nc medipm has hem contracted
EIow9 Wbv hy ealing in abont So5(, 000
lno of tbo 1orea,hack 9a cnrrencv 1bich
h nnonle nycier to the National Rank cnr.
,oncy 70 WV YEAS his Acne? We know
M nn,sss tbo Socratarv of tho Treasury
to favor tho National Banks by
nat;na araanhacts scarce Now we nro.
nose to exnand The currency to the same
,olnme that il had when Tho contraction
This will rive the neonle a
vino canital of so5O o5l 600 more than
bev nnw have also save in the of interest
sI5 ono coo, because his $3.50 600, 600 in
couId he ;mmcdiatelv nsed to
,edcem go millions Of the 5-26's bonds, |
,b,ch the Goyernmeot NAV do at its option |
,ftcr five years from the date of Issue, Here |
ben yya b,ve arain q saving ~ so1 600 900,
" cause the premium on goId increases It to |
hat omount, We ask the Chronicle in
,ood taith 70 denv this second proposition
q save u millions in interest?
Rnt the CLronirle tells ne that nayment
rith leasI tender notes Is no navmept, =
lhat "if thonsand dollar bond il redeem
"A hv an emission of $lO0O of oroenbacks |
yonn foc+nred inr tl,at nurnose the govern |
mont owes the same amnnnt after the trans
elton as heforo and the government is |
esllv ..v,orse off Worse nff oh? Hay-
no stonned a leak of 500 oSO. OCO. annually. |
nd on ntber leak as we have inst seen Of n |
N lI;ons. and vet the ostnte ChrcnicIe insists
h at We arc "worse OFF, than WE we're be-
nro a~s Can be p,ata evsr Tools heI;eve sucb
trH2 Wbv Mr Gbron;cle what is il that
nakes debt burdensome? Is it not the
!, ,tarey,,t tbat worts day and n;gbt2 Tf there
g no inter st 'acct,mnatin@ wopld the
Iobt ba ,nncb n , bnrdcnS We ,b;nL not
II The ~ ChronicIe has told US heretofore tha
paaaI I tenJrr,5 notes M are not nonev Tbev ora
1oHar or the tbev are made 60 hp tbn legitima to
;, nonny O,,oy maLing r newer of the country Tbev
'io o"j tIa % same I;pd Of money that tbe bond,
,nidar nnrch. sad his bonds with onlv now
,rnotlv ,u,atl ;narnasea n cnrrent vaIne as cam,
5a,."tI' 5oro1 'w;tb III gnlJ and everrtl;nr else
''1 Rnt su "l,I - ,atnru to onr ayenment Tho in.
orost a,u2 hoor;ng 1abt as we have soon last
6noonher ro[,, we was Al. 904 SO 69I. This helms
.o,l ,,oo1 h1 III issra of s33s ooo o0a nf
rrannhacks tn fake the nlace Of The Nation
i RonL cnrrencv. and by $3.50 0oo, 600 more
far e. % tho synansinn Of the ct,rrpncv to what
~ tito r. ~. r. ~ - 80,