The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-09

except so much as Is for the necessities the
such payments and where cations Of the
they provide that they shall be- paid in
COIN they Sash na tn, and in justice be paid in the lawful
Equal TAXATION Of every species Of property according 70
One for the and the people, the aborer
Queer and the bondhoder. Wv
Now, that is plain, frank. honest and bold plat
is right we will triumph before the people; If it is
wrong they can say 80, for they know just what we
mean. lCheers.) Now let US see what the other
We denounce all forms of reputation national crme
and the IN non9 acquires the Of the public
hne and abroad not oniv accordn 70 h c,eos az
spirit Of the laws under which it contracted.
Can you tell me what the words 'letter and spritr
meanS DO they mean gold greenbacksY Does
the spirit mean gold and the letter greenbacksp or
the letter gold and the spirit greenbacksS Can you tell
me what the letter means or what the spirit means9
"a voice, "Wh day Loud laughter and cheers)
The letter must mean, them the failure TO collect the
tax on IT, lGreat laughter) Now there are men who
feel sensitive upon the subject and there are no doubt
men within the sound OF my voice who think the
bonds ought all to be paid in gold. want to ask my
sensitive friend what security he has under that
clause OF tne republican PLATFORM Out West we find
Senator Sherman, who is Chairman of the Finance
Committee OF the radical Senate, saying that the law
does not require that their bonds shall be paid
In anytnlng but greenbacks, and you find
other radical Senators and speakers In the western
States saying the same thing. But you come to New
York ana you find Senator Morgan and the New York
EUefag Post and the Tribune and the New York rad
ical State Convention telling you that the letter and
spirit mean mat the bonds are to be paid in gold.
You VIII ma the republican House of Representa-
tives passing Funding BILL which provides for the
issue OF new bonds to take up the Old ones, which
new bonds are to bear only four or four and half
per cent interest, and 1t does not need man of
very extraordinary understanding to know that If the
present bonds are to pay six per cent in gold nobody
would be fool enough to exchange them.
for other bonds paying but four per cent.
You ma, l say, men in the West saying
the letter and spirit mean in greenbacks and
men in the East saying they mean gold. Which will
you trust this equvOcal platform or frank and hon.
est platform which says that where the law does not
ought in right and justice to be paid In lawful cur
rency, and that further declares that the govern
ment shall be administered upon such economical
as gods cSeers W. know must just What VI sG the
words, letter and spirit mean. To be frank with
you, used them once myself when l wanted to
dodge that question. thought that the question a.
that time was not practicable one, and was one
that had better be avoided and postponed, hoping
that In time wisdom and economy would rule those
in power, and that affairs would DO so managed
greenbacks and this question would therefore be or
no further importance. But now that the question
Is Is,, to TO-, be me met we have met It fairly and
calls give the words 'Ictter and spirit"
in the West and East reminds me of q
so man t who NJ had Il ery ticket numbered Co. He
ing II TO the lottefy vat person turned 1t up
side down and r. n, radical platform Is
90 out west ana Laughter) Perhaps
some OF my dlgnii.eu ,ponents and dign
fled political friends ~ q man who Is the
candidate for the higl-- vernon of the State
of New York, addressinA a. .llgent people OF
the great city of Buffalo. si.olld not use such
Illustrations. l have been taught all my life
please provided it conveys the truth in the simplest
and most forcible language to the people you are
addressing. Cheers.) Now this same radical Con-
they want to pay these bonds in gold refused dur
ing the last session of Congress- to pass bill le
1o % fa na sd w Ty would Do n mot q
law that men should make any contracts in
gold. Now, what is this whole gold and
greenback question: AS ! said before, II there
had been any wisdom and economy in the
administration Of the affairs OF the government the
question would not have arisen, because gold and
greenbacks would have been on the par; but the
theory OF the issue Of the greenbacks and OF the act
making them legal tender was that they were as
be the case Congress would never have forced them
upon the people as legal tender. The law providing
that they shall run for twenty years. with the
privilege on the part OF the government to redeem
them time after the lapse of five years. and that
that greenbacks should be legal tender for all
debts, public and private, except on duties and the
msn 81 On hs ad the Is sps state be-
fore the American people that the law shall be
strued against It's lie, letter and It's - spirit ia
siS AA.sS.eo. s'AS "SN. VIZ Ao'u VIC UoHuS
advocated here tonight was gong to injure the
not advocate 1t; but every man here knows, and
every intelligent man throughout that country knows
that this government cannot and never will pay the
worth as much more than greenbacks, as 1t il
to-day. loud cheers.) II this government cannot
make its greenbacks worth more than seventy cents
on the dollar 1t cannot pay these bonds In gold.
There Is use in shutting your eyes to that fact If
you are to meet the question and remove the dim.
which
backs will be made as good gold, and then there
will be no question as to the payment Of bonds
the government during the war and incurred great
risk. They laid their capital at the foot OF the gov
eminent and made 1t son free Offering and
for that exhibition OF their loyalty. Well
my friends, they gave the government the
promises which the government had given Them
They gave the government greenbacks. Did they
take any risk2 II the government did not triumph
in to maintain Its integrity the Qreenbacks were
not worth the paper they were written on. They
loaned them TO save their government but II their
government had not been saved they would not have
therefore II was their salvation and II they took
risk they had since made much OF 1t. Is not the loan
free IRON oil taxes excepting only income tax, and liz
not that compensation enough for all the risk they
tooSs six per cent in gold, which Is now ut least
nine per cent In paper and three per cent for exemp
ton from taxes makes an interest OF twelve per
cent and that IL o pretty good loan, and one would
think that with such an income from the
loan a man ought to be satisfied II he was paid
(Checrs.) Did they take risks In making this loan
bid not yonder widow take risk when she sent her
only son 10 the battlefield 10 fight TO preserve the
integrity Of the nationS And does she receive her
pension in gOd9 loud appause.) Did not the man
who loaned his money TO the government per.
haps with the same kind OF currency, buy substl-
tute for his SONY And do not he and his son to-day
together remain ut home and receive six per cent In
gold free from taxation, while the widow whose son
lies buried In Southern soil receives her pension I'm
the deprecated paper OF the country tCheers.)
Who made the greatest sacrifice, and why,
unless the law gives and unless the bond gives t.
why should you, men OF America. insist upon 1t that
the man who lent his money should get gold, while
the widow who gave her son should get greenbacks
would like to have some radical friend OF mine,
here or elsewhere, answer that. MY friends, demo-
Gratis aud republicans, do you In this great Empire
state believe there Is 70 be one currency
for the holder Of the bond and another for
the widow who takes her pensionS I do not think
YOU believe II. do not think you will give your
SURFACES in the election TO keep in power party
here in the state government or to send to the Con-
gress Of the United states a man who would
establish for one q currency better than
that which is paid TO the other. (Appause.)
am IN favor OF one currency for
the bondholders and the people. am In favor of
forp oth lam " fot.o ~