Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-01-31
Iudga Thurman.

Juuko inufmhh.
This distinguished gentleman made a
political speech few days since at
Mansfield, Ohio, in behalf of the Demo
cratic candidate for Congress, in which
he refers to
BONDS AND oREEsBAcks.
/ say to you now, my friends, as ] had
the honor Of saying TO you back OF the
courthouse last September, yeu must re-
fuse to pay the bonded debt OF this Gov
ernment in any other way than as you
agreed to pay IT. Where you agreed to
pay it in gold, pay it in gold. That is
very small matter. There gold enough
in the Treasury now TO pay almost every
single bond payable in gold. But as to
these five-twenty bonds, amounting to
about two thousand millions, il is simple
impudence in any man to pretend that
this Government ever promised TO pay
their principals gold. The interest we did
promise TO pay in gold, but the principal
never in any thing but what is the legal
tender Of the country. There is not a
man who has pointed out a statute that
promises the fivetwenty bond-holder that
he shall be paid his principal in gold
He bought his bonds with greenbacks
when greenbacks were worth not more
than thirty.three or forty cents on the
dollar in gold; and il is simple impu'
dence on his part to say, 81 gave forty
cents for these bonds, but the Govern
ment shall give me a hundred. "
We will be just, and nation is just
when it fulfills its promises. say, then,
that we must cut off nearly one hundred
and seventy millions of this burden that
annually rests upon us in the shape OF
interest, by paying these bonds in the
legal tender OF the country. Upon that
subject [ see that General Beatty is
obliged to partially agree with us, and he
concludes that it is not safe to say that
these bonds are to be paid in gold, and,
therefore, in his speech at Caledonia he
comes out on the greenback side. But
what does he ssy2 If recollect rig ht he
saws that the Democrats want to issue
two thousand millions of greenbacks
forthwith.
Now, never had the pleasure of see
ing General Beatty. l dare say he is o
very truthful mani must say he is a
yery ignorant man to make such an ac-
cusation against the Democratic party
The Democratic party has never pro-
posed to pay these bonds by the issue oI
two thousand millions of greenbacks, in
stanter. They could not do that, accord
ing to the face ef the bonds. The bonds
were issued in series, and they car
only be paid as they mature. No, tht
Democratic party is wise party, ant
will act with wisdom in this matter, ant
will take the bonds up iu the currency
with which they were bought, and thu
only currency in which we promised L
nav them, and will take them up in sucl
wise that there shall be no such disas
trous initiation of the currency as to un
settle values or disturb the business o
the country.
We are perfectly competent to tha
task; and our friend General Beatty viii
fad it totally impossible to impose upol
the intelligent people of this district an.
such story that we are going to max
shinplasters plentier than the leaves o
the forest when the autumn frosts caus
the leaves to fall. That is all rhetori
cal figure of the Generals. That won
dc. We understand what we are about
The American people certainly have a.
interest in seeing that labor is not robbie
of its reward by any rrinous change i
the amount of the currency OF the cour