The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-21

forced or trampled upon according to his discretion.
| And how n the senate VIII not BIO c0mpelleds How
II the army will not be completely Can compul-
much greater iorces Is that anything i but civil
war again, and bloodier one than beforei
vulgar OF sentiments. has no place in American
bosoms; but the Immense good nature manifested
to be mistaken for stupid Indifference to the Sc
curity OF the Union and the law. Until the citizens
White. BLACK or yellow. are entitled to the prlvseses
and imnunities OF citizens IN Alabama, or TeXes,
any other STATE, North or south the constitution OF
pie intend il to be reality. We told every day
| we are unjust 10 tho seeding States because we
exact guarantees, when they have given ali guaran-
tees that could be reasonably expected. they have
abolished slavery; they have repealed the ordinance
ised siaveryl repealed the ordinance OF secession
Why, the first gun fired against Fort Sumter abol-
tered the aboliIon and the surrender Of the rebel
armies confirmed IT, TO submit to the abolition Of
slavery now y IKE saoa,sag 10 1ne procession s
graytaton. AS for anuuiling the ordinances OF So
cession, we thought them already pronounced null
| by tribunal which Is even higher than the supreme
| Coutt-by that dread arbtrament TO which kings
and commemorative must make their last appeal. A
formal repeal OF these statutes since the war all
nnlled them, seems supernuous enough.
o. There Is another great question to be decided In
| Shall the United States pay or repudiate their
| debtse
| confess myself at the outset almost Iopeessly
embarrassed In approaching this question. 1t is an
awful thing that this should be question at all.
should doubt whether any honest man who has ever
really reflected on Its dread p0rent, could pafer one
moment with the vile thing reputation. For the
thing IS ever there, however we may shirk the
| phrase. There are axiomS, one would think In
morals as in mathematics. IL is geometrically
certain; for example, that straight line Is
long demonstration may be attempted In
favor Of "a. a crooked one. And Just 80 GER
| but the only one between debt and payment, II we
would avoid the crooked path Of national bank
structed from the democratic platform OF July that
| "the credit OF the government and the currency
must must, nc made good Wholesome sentiment
| irving at this blessed result we are advised that
'wherc the obligations OF the government do NOT ex-
prcssly state upon their face, or the law under which
they issued does not provide that they shall be
paid In coin, they ought in right and justice to be
| paid in the lawful money OF the United States"
| THIS sentiment, according to the Associated Press
report was received with 'thunders OF applause"
| As further means OF making good the credit Of
| the government, we are informed that government
bonds and other public securities must be taxed
With renewed cheering and cries OF readit again.'
| Now we are all agreed, 1t seems that the national
credit Is 70 be made go9d; o i certainly stands IN
4 there Is remarkable difference amOng American
citizens as to the true method OF reesablisins that
credit. Some OF US believe in paying our debts when
| due as good way OF accomplishing that end 9th
believe in giving an indefinite promise to pay in
is promise by the United States TO pay the holder
one thousand or i've hundred dollars, as the case
Iation that the holder shall be Obliged to accept pay
ment, II government choose, atthe end vi five years.
the meaning Of an English word the best way to look
1t ont in the English Lexicon. Let us turn to that
excellent work, Worcester's Dictionary. A dollar
find to be "a silver coin-that OF the United States
being equal to one hundred cents, or four shings
and two pence sterllngn Sterling shlllngs mean
Is pretty well understood from ancient tradi-
TONS although we are seldom INDUCED now
asdays with an ocular demonstration OF Its
u also well known that by statute OF the
value, and there are even dim remembrances OF gold
dollars lingering IN the minds Of ancient men In
these regions. We shall have no right to complain,
then, II government insists on our accepting pay
ment In gold five years after date, but must submit
with the best grace we can. A dollar means, there
CONT What Is a "c0inW Let us again dip IN the
pure well OF Worcester unabridged. coin We shall
and made current as money! 1t is "metac or hard
money, as gold or silver. Now 4 language be not
eminent, when 1t sold these bonds promised to pay
the holder In five or twenty years, one thousand or
each Of them being equal 70 four genuine shillings
and two pence. beg pardon for being tedious, but
pieces o. metal 'H1 now appears rom the New
York PLATFORM that government hasAthe right TO
Of It's Obligation new promise 70 pay sao coins Sat at
an indefinite period, without interest. And this IS
81 IN @ E Of Is s. 70 ea w s
right has any man or any body OF cn TO place this
great United States government, which all honor
ana obey, upon tho same level with the Immortal
Micawber? .sThe amount 0f my obligation " said
that great flnancier, on memorable occasion, twas
united make total II my calculation Is correct,
amounting TO cal los. ND. 70 leave my friend,
Mr. I. Trades tthe holder OF the note, without ac
quitting myself OF this pecunary obligation, would
weigh upon my mind to an unsupporiaole extent. l
dies, ana now hold In my hand o document which
accolnplishes the desired object. beg TO hand to
my friend Mr. Traddles my D u for cal los. IL I'D,
know shat can once more walk erect before my fell
nner os his remarkae man os ony that ,bs Was
quito the same to Mr.. Micawber as paying the
money, but that Traddies himself hardly knew the
difference until ne had time to think about it, To
behold q great, prosperous, powerful government
like the American Union cyadng It's obligations and
to pay, and expecting thus to recover IT. moral dig
NIFTY and TO walk erect among other governments; TO
melancholy Hamlet--'Iakc the chameleon, promise
crammed, ;, promise crammed-you cannot stun
ilcvc in democracy. But the party 10 which we are
\ opposed maintain that II the word coin IL not nomn
shall he naid in tho lawful money OF the United
States leave TO the supreme Court the RESPONSE
billy Of declang whether Congress mad the right
judge, but this / do know that the only
! Justification OF that proceeding, in the forum
| OF conscience, was necessity and that govern
\ nient has no moral right whatever, and never
could have To pay It's own debts IN its own failed pa
per- II il thing to paltcr with the right because
OF necessity; quite another thing for convenience.
for orr personal commodity. Necessity IL o fury who
knows law, but 10 violate law at tue instance OF
.tiat smooth faced gentleman, tickling Commodity
IS not the TO make the national credit good AT
The outbreak OF the the country hooded with
the failed paper OF more than thousand banks, and
Il was held impossible 20 carry ON the war on specie
basis. Whether that were so or not, whether the ma
tional credit really better by reason OF q
renoy which described our bonds as at par or above
II, IN markets, at times when they were no
! toriously scing M Amsterdam, Frankfort, all the
world over at thirty 1--WE forty Ia not for 10
/ discuss. But this much II certain that n we add
millions 70 that currency now for the cake or paying
our bonds with ~; IL compel the creditor TO take
! hls payment IN paper. winch, In such case viii
4 soon be worth less than twenty cents ON the
4 dollar, we shall perpetIa,c gigantic injustice on
those who trusted TO honor, AMI shall be met
l with peal OF derisvc laughter at home abroad.
\ should We ever wish TO negotiate another loan
such terms ~ upright governments command II