The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-07-10

way; the bonds having run hve years aud the
Government being at liberty to redeem them
according TO law, suppose IL had one or two
hundred millions in the treasury to apply to
that purpose, and gold should bs at hundred
and forty, as now, would the Government pay
more than hundred in legal tenders for every
hundred dollar fve-twenty bOn12 Would it
pay hundred and forty, the coin valuel Or
would it redeem them at the market value, say
one hundred and ten, thus giving ten per cant
more than the face demands if they be PAYABLE
in lawful money? This question may arise
but the politicians and would. be fnauciers
have not understood it nor touched it. In
that case the party in power, whether radical
or democratic, wonld act according to the letter
of the law and the face of the bonds. Both
would act in the same way, for they could act
in no other way.
Both platforms are silent on forcing specie
payments, which, after all, is the real ques-
tion at the bottom of this issue about paying
the bonds in coin or greenbacks. In fact
both parties, in and out Of Congress, have
found it necessary to leave the currency and
specie payments to be regulated by the laws
of trade, and we are satisfied neither will ven.
ture to disturb these laws. Mr.. McCulloch
tried his hand at this dangerous performance,
but the voice of the country and the votes of
Congress stopped him. Both parties stand
upon the same platform in this respect.
AS to taxing the bonds or the interest on
them, the Democrats are more explicit in favor
Of such a measure, while the Chicago platform
rather squints the other way, but at the same
time ii says ''it is the duty of Congress to re-
duce the rate of interest thereon whenever it
can be done honestly" 1t would require a
very sharpsighted individual to see much diff
ference here between taxing the interest of the
bonds and reducing the rate of interest thereon,
Notwithstanding the saving clap-trap clause
about doing it honestly. But if the Republi-
can trainers of the Chicago platform ever in
tended to express disapprobaton of taxing the
bonds, the Republicans in Congress have abo-
lished this plank, for they voted for taxing the
interest ten per cent.
The two platforms are singularly alike in
denOuncing frauds in the Government and in
declaring that taxation must be reduced and
equalized. Both are right so far, but neither
| tells us how this is to be done-neither grasps
the subject nor gives us any plan-while both
parties in Congress are increasing the burdens
upon the people and making taxation most
! unequal.
On the negro question, one Convention (the
Democratic) thinks right and the other wrong;
! but both are silent or vague in expression as
TO the fundamental constitutional law-the
thirteenth and fourteenth amendments to the
! Constituton-whch is to regulate the suf-
frage. The people will decide this for them
! selves.
The Democratic platform is right on the
attempts of the radicals to force negro supre-
macy, on the outrageous conduct of our radi-
! cal Congress, on the establishment of military
despOtism in times of peace, and on the other
atrociOus measures of the party; but the
Democrats are not blameess, for they indi-
rectly and stupidity aided the radicals in many
of their acts. The platforms will have little
to do with the coming elections 1t is the
! historical record of the two parties for the
past few years, together with the character o
the nominees, that will decide them. If the
Democrats should be wise in the selection Of
their nominees they have a fair chance o.
success; if not the odious record of the radi.
Gals may not prevent the perpetuation o
] radical rule.