The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1868-08-04

SN0ouo VI pOCAbiOU d5 Hi. lit
made a speech on the 8th of January.
IN this city, which he repeated last
night IN part. [ will ask myfriend to
read a part of that speech:
Then we may at once commence the
payment OF our debt by the issue Of treas
ury notes, and thus stop the payment of
gO1u interest, and also increase our curren-
cy, and mus stimulate commerce, enter
prise ana labor, and in connection with a
wise policy towards the Southern states.
and the development of their our
restore prosperity TO the whole country"
After Mr.. Hendricks had proceed
ed to argue the right of the Govern
ment to pay the debt in greenbaeks.
he then stated 1T is time now to com
mence the issue of those greenbaeks
for the purpose of paying the debt
and to stop the gold interest" He
would issue enough to pay the debt
and stop the gold interest. Why, my
friends, this is all Brick Pomeroy
asks-this is all Vallandigham asks
this Is mere than Mr.. Pendleton now
dares to demand. It would meet the
views OF the extreme men of his
party; but there is something else
which l would ask my friend to read:
81 would not be understood as being in
favor of an increase OF the currency, with
out limit. The dangers and evils of an
unrestricted issue of paper money cannot
be too carefully avoided. Temptations in
mat direction are greaE, and mus be re-
sisted by wisdom and prudence. No one
more than myself regrets the necessity of
a resort to paper currency, but 1t results
from the necessities of our condition. The
issues must be limited TO, the demands of
business, and the. wants of the PEG lie ia
meeting the enormous leyies for national,
state, county and city purposes"
After having first said, it is now
time to begin the issue of Treasury
notes to pay the debt and stop the
gold interest. he then says we must
not carry paper money too far. He
lnveighed against paper money as Bit
terly as L would, and then be says the
issue of paper money should be limit
ed, not by the quantity necessary to
pay the debt, or to stop the payment
Of the interest, but by .ne demands of
business and the wants of the people.
Why, [ agree with him perfectly on
that proposition, but that completely
overturns and oyerwhelms the other.
Now. can any man tell me upon which.
side of that question the distin-
guished Senator stands? He will
have to make another speech in or
der to define his position upon that
question. Laughter. | will ask
my friend to read on about the
banks:
"The system OF national banks was a
s~tupendous folly. The security of the bill
holder is in the ho0ds on deposit in the
Treasury upon which the United states pay
interest. If the Government furnishes the
security in IT'S own credit, why not sSue the
Treasury note directly, and thus save the
Interest? In supplantins the system, but
one evil is to be guarded against. II IS
20 a Tho loo nc - g H. al l. 70 10 aEHnaa
men of the cou try amount to about $780,
OO0,0l0, and in this State TO Sl2,09u,000. 10
compel the banks to at once withdraw
their loans would be rutnous fhe snbsti-
tuition must be so made as to avoid Il finan-
cial and business crisis"
Now, the distinguished Senator be-
gins by saying that the National hank
ing system was a montrosity-that it
was a fraud upon the people. He
goes as far on the question as the
most ultra anti-bank man could ask
him to 60, but he does not stop there.
On the other hand he says that it
must be borne in mind that these
banks have got out $500, 000,0 600 of
discounts; that they have loaned to
the people of Indiana o less than
SO, 000,0 900; and he goes on to say
that 1t would be ruinOus now to dis
buTO TIC DdukS, tiOuEn blCy were
monstrosities in the beginning ia
fraud and a wrong upon the peo-
pie. Yet, now he argues that
nected with the business of the coun-
try that they could not be disturbed
without ruin to our commercial rela-
tons. Now, | will ask any frieDd-I
will ask anybody to tell upon which
side of the bank question the distin-
guished Senator stands. Laughter.
His position on those two questions
somewhat reminds me of a story /
once heard about a lawyer who went
out In the country to appear before a
Justice of the Peace in "A case where
the right of property in a certain calf
was to be tried. The opposing coun
sci was absent, and the Justice did
not like to go on with the case with
out the other lawyer was there, but
the lawyer that did go out proposed
to obviate that difficulty by promising
to argue the case on both sides fairly.
Laughter And after he had done
so the justice solemnly declar d that
he could not tell whose calf it was.
[Great laughter.
Now, my friends, upon the currency
question, let US look for a few mo-
ments at the attitude Of the Demo
cratic party. Who is Horatio Sey-
mour? The advocate OF the bonds
being paid in gold. Within ten days
before his nomination he made a
speech in Cooper's Institute, ia the
city of New York, in which he argued
that the bonds were payable in gold,
and that the first duty of the Govern
ment was to return to specie payments
by making the greeni cks as good as
~old. And yet this man, with his
acknowledged opinions, is placed
upon a platform declaring that the
are payable In greenbacks, not
only In the old greenbacks that were
made during the war-we have
1865, 600, 900 of them-$300, 000, 900
of them were issued before the
any of those bonds were issued-the
$50. 900, 900 were issued cotem-
DO .~aneously with the issue of the first
bonds-but the Democratic platform
warrants the payment of the bonds,
not only In the old but IN new er-en-
backs that may be made for that pur-
pose-that may be issued dd Lbttunt
until they shall become worthless,
and, U It'll not only the currency but
the bonds themselves, shall have been
destroyed. This man, with his known
opinions, but recently expressed, was
thus placed upon this platform, which
drawn to meet the known views
of Mr.. Pendleton. [ ask those who
an interest IN these questions
what kind of confidence they can
place IN a candidate or in a platform
that is thus made to deceive? Some
body is to be cheated. Those
WHO believe IN paying the bonds
gold are invited to vote