Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-03-15
A RADICAL Wall OVER THE
GREENBACK QUESTION.

The Radical leaders are becoming
frightened at the popularity of the
scheme for paying the > pos in greens
backs We are drifting into repudi-
atom exelaims the New York Comfaer
cial Advertiser, as it sees the growing
popularity Of this measure aud the indif-
ference which Congress displays. The
Washington correspondent OF the Spring
field (Mass) Republican writes;
"The Finance and Ways and Means
Committees are fast becoming converts TO
the theory Of paying the $40 bonds in cur
rency, when they become due. Prominent
members Of these committees say that if
the Democratic and Republican Conven-
tions are all to take this position, it will
soon become impossible to present the pas
sage of joint resolution or bill establish
ing the doctrine"
There is danger that the Radicals viii
steal PendletOns thunder upon this ques
ton of paying the ive-twenties in greens
backs In Indiana and Ohio they are
vieing with the Democrats in their adyo-
cacy of the measure. While the Ohio
Radicals in their State Convention are
resolving that these bonds Should be
paid in the currency of the country"
Senator Sherman's proposition for fund
ing the debt deals most summarily with
the public creditors. He says to the bond
holders "Throw off one per cent in
your rate of interest, and we will enter
into a new contract, binding ourselves to
pay you in gold. If you will not do that,
then we will stick to the old bargain,
which gives us the right to redeem our
interest paying obligations in the same
lawful money that we received for them.
And using the same deceptive argument
twice, he says to the bondholders "Ac-
cept a reduction one per cent in lieu
Of taxa,tion, otherwise we will tax you
unreservedly." So we 60 These signs
are unmistakable. The great popular
head is rapidly coming to a conclusion
that eff greenbacks are good enough for
the merchant, farmer, mechanic, and
soldier, who pay taxes, they are good
enough for the bondholder, who pays no
taxes" Listen how that moderate Rec
publican journal, the New York Com.
merciol Advertiser, weeps over this ten
dency
owe are drifting into reputation We
are 40 drifting not because our debt is too
onerous, or that our people are dishonest,
but because Congress is either insensible TO
the danger or Indifferent to its consequences.
Expenses must be diminished, and the rate
of interest must be reduced. Both are
practicable. Congress can affect both, and
it will be held responsible for its refusal or
neglect TO save MS from great danger and
a great shame"
A Radical merchant of New York, Mr..
A. A. Low, broke forth at q meeting of
the New York Chamber of Commerce on
the 9th inst as follows:
"Not only is our commerce with foreign |
nations passing from American bottoms to |
those of other nations, but in consequence |
VI Aht BANNidNSu hA1bC Vi Jul
and the pressure Of taxation on the pro-
ducts of our industry, the United States |
are ceasing TO be nation of supply to the |
less favored people of the world. Worse |
than all, at home and abroad, the credit of |
the country is suffering from the democrat |
ization which penetrates the very halls of |
Congress, threatening to subject our young, |
vigorous and wealthy republic to the costly |
sacrifice of its good name among the civil |
lied nations Of the earth. Instead of ex-
pecting wise, honorable legislation, leading |
to judicious measures Of revenue and /
finance, the sagacious and thoughtful live |
in perpetual fear of political combinations
that will pander to sentiment said TO be as |
wide spread "a it is depraved, which de-
mands an indirect Reputation of the pub
lie debt, even though il casts a stigma
upon the nation which generations cannot
outlive"
While these spokesman for the Radi-
cal party are lamenting the evident drift
of events, they frankly attribute it to the
lamentable want of wise, honorable le-
gislation exhibited by the present Radi-
cal Congress, body more intent on dis
placing the President and putting one of
their own faith in his place, than legis-
lating for the good of the country