The New York herald., 1868-08-20
SPECIMEN BRICKS
a. -,-
OF THE
PARTIsAN PRESS.
= egance of Political
Literature.

Literature.
vallandigham ON the Finances.
Ffom the New York Tribune radical republican,.
We print on snother page 80 much of seymour
and Blair speech recently made at Fort Wayne, Ind.
by G. l. Vallandigham as relates to the national
finances and oebt. The more material falsehoods
emt Odied in that speech are as follows:-
i. That the republican party intend that the
national debt shall never be paid: A Jaw law
gress provides that not less than one per cent
or the principal OF that debt shall be redeemed
30 far as we can remember, has ever proposed
the repeal OF that provision. But IN fact we have
debt was ofiicialiy reported, on the lst Of August
1865, s2767 900 over and above all the money
then n he a. t1e 90 .s
the money In the Treasury. That we had, within the
last three years. paid OF $247 600 OF principal Of
the debt is an officially established and undeniable
fact. But we had IN fact paid much more than this
We had paid $780, coo to soldiers for
ing out bounties large sums additional for pay and
allowances due those who have been mustered out
since August l, 1865, and at least S5000OOO0 due to
States for the equipment &C. OF their troops for the
our debt is really owed by the Pacific Railroads.
TO which the government loans its credit at q
certain rate per mile; but the bonds are pay
able, principal and interest," by the roads, and
are actually paid by them. The government saves
enormous sums by using those roads for the trans
portati0n OF Its troops, munitions, provisions mails
&c, &C., and stops the interest the bonds out OF
these payments. These 2000, 900, therefore, are
only an apparent, not q real augmentation Of the
debt which is actually but $2,47s, s,0Oo0 900. We have
ln the last three years paid or considerably more
tnan tenth OF the principal OF all we owed when
hereafter much more easily than heretofore. 1t is
proved false therefore, that we do not intend to pay
the debt by the fact that have paid and are pay
ing n; IT, vou.ro,o,on, o.,.ro ,.,v ,,.s who, no
debt to $34oo, ,oOO It was not 600 on
the 1st inst but s. 5lo 900, and that Is every
cent that we intend to make 1t or to pay Whoever
cOntroverts this Is O foolish reckless liar.
8. Mr.. Vaandigham asserts that the debt ''was to
have been paid IN paper" Here he lies again with
malice prepense and in the face Of abundant and
most irrefragable testimony. We have quoted over
and again Mr.. Thaddeus Stevens repeated aver
mens In advocating the passage Of the Legal Tender
pleasure OF the holder IN six per cent stock 1.-THE
0ye-twentes whereof the principal was payable
or demurred to this; while most Of Mr.. Stevens
associates on the Committee Of Ways and Means ex-
pfeSSy confirmed it. That the interest of those bonds
was payable IN coin Is expressly and undeniably sp-
ulated; and Congress provided that nothing but
coin should be received for duties on imports
expressly to furnish the wherewithal to pay the
interest and one per cent OF the principal Of
the debt in coin each year, as by law required.
Some one having thereafter raised the cav that per-
haps the principal OF the fve-twenties might be paid
IN illegal TENDER" Secretary Chase was appealed to-
and promptly responded that every dollar Of the per-
manent or funded debt Of the United States was pay
able Ill coin. SO said Secretary Fessenden, two
years later; 80 said Secretary McCulloch, afer his
who were solicited to take the bonds that they were
payable in coin. The bonds were taken in virtue of
these assurances given rst IN Congress- then reiter,
them. Any villain who now says they are payable
m greenbacks would as readily say If he could hope
to be sustained in It, that they should never be paid
4. vallandigham asserts that the bondholder paid
Sn Sasey IaS ha sa a %
the bonds cost the holders nearly quite their face In
coin. Very many of them were taken before legal
amounts soon after Lees surrender, when there was
but twenty-five to thirty per cent difference between
green,Da@cks @ o and COIN But again, the West was
chants, young business men to capitalists the be-
ginning OF the war; All these were coin debts-con-
fun equivalent. These debts-many of them mort
gages-haye been almost entirely paid or in .legal
lar Of the legal tender pad dollar Of coin SS
debt; and the creditors were told "You
can invest your legal tender in government
bonds, which are payable, principal and interest in
coin." Hundreds OF millions 80 paid were so in
vested. the farmers paying Off their mortgages with
for the war and the consequent legal tender. IL was
the debtor interest," not the creditor that proted by
our currency debasement. The creditors took less
1t; and now all the scoundrelsm OF the country
would cheat them out Of the proceeds altogether.
s. Val. says he ID in favor Of one currency all
and gold for all In this he lies, as usual and the
whole drift Of his speech proves II. Such currency
V perfectly practicable, perfectly attainable we
unite In the resolve. 1--WE will have specie payments
restored forthwith" and the end is achieved.
will Too many want to sell their property or pay
their debts In false measure OF value and 80 COM
b.ne TO clog the wheels OF resumption. Vaan-
digham is either one OF them himself or one who
seeks to make capital out Of the deluson. He pre-
tends great interest In the crippled soldiers. yet he
knows right well that to pay on the bonds in green
backs must reduce the pensioners pittance to far
less than 1t now Is. Every Widows mite now de-
Who works by the year and paid at the years end
and the property OF widows and orphans In the
hands OF trustees and guardians would be virtually
connscated by the measure he advocates Green
backs would be made SO abundant that being not
even iundabe, they would sink TO q merely nominal
mental shinplasters, and speculation would ride
roughsh0d over paralyzed and covering industry.
would be the carnival Of swindling and the blight
Of productive labor.
q. vallandigham says that the democratic plan of
paying the debt Will to the taxpayers 81 000
boo As that Is about twothirds the total OF the
ave-tweniies, he must mean that those are at once
to be paid of In greenbacks and the greenbacks
never paid at ALL We assert that the injury and loss
inflicted on labor and production by such sudden
and enormous innation OF the currency would exceed
thrice that stupendous amount. Afew would be
made rich by IL but the immense majority of frugal,
industrious people would be ruined. He quotes
Butler and Morton as countenancing this plan, but
Say that the nve-twentes may be paid In the green
backs already existing; 1t Is quite another
backs may be printed on expressly 70 swamp and
extingush the fve-twenties. The former would
somewhat appreciate all money values; the latter
would whelm all values In general ruin. Yet 1t Is
only by this latter that any such sum as 07e 900 900
can be saved In paying or the nve-twenties
asserts that the republican party Is hostile TO his
scheme while the democratic Is pledged to It, He
adds that seymour 'has emphaticaIly and unequivo-
cally accepted the democratic platform-paying the
nve-twentes In greenbacks-and says that his ad-
ministraton shall be governed bv itn He may have
said 20, but his heart lis not In 1t. His speeches last
spring prove that he knows this whole scheme to be
as ruinOus as IL s rascally, and If he now succumba
to 1t he covers his name with indeble infamy.
Insanity In the Seymour Family.
tFrom the New York World (Radca copperhead Aug 1871
oratio Seymours father killed himself ~ Of insanity
his mother for previous her death inmate
OF an insane asylum his fathers brother committed suicide
while insane and Of his father killed herself
while insane be said that these Of fam