The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1868-07-17
THFGREENBACK PLATFORM.

The Platform of the New York Con-
yention is constructed in such manner
that in the East it will be construed ID
favor of The bondholders, and in The
West the Pendletonians are expected to
! find greenbacks in it. What is the
PendletOn plan of paying the national
debt in greenbacksl The Chicago
Times, good Democratic authority, says
it, iIf EFT
Oontemplates new issue of greenbhcks,
equal in amount to the bonds which it is
proposed 10 redeem. Over twelve hundred
millions Of five-twenty bonds will become
redeemable before 1872. Five hundred
millions arc redeemable now. The way to
pay them, according TO this plan, is to set
| the printing presses in motion. So long as
the rags and lampblack hold out, we will
have no trouble in paying the bonds at ma
turity. When all have been thus paid, we
shall have sdded to our paper money the
trifing imitation of 81, 500, 000, 900, making,
all told, q circulating medium Of 81 800 oOO,-
900. Then we shall have what are called
1ROOu LlLDEtS Hp1cuAiu blnC9s hSoN anu
| greenbacks will be exchanged bushel for
bushel. A barrel of Whikey will be sold for
two barrels Of legal tenders. Collectors Of
government revenue will go about With
wagons having lofty and capacious Eeoepr
tacles op them, like those used in handling
charcoal, and will gather in the public taxes
with pitchforks. To levy s. in gold will re-
quire one-horse wagon load of greenbacks.
But the government bonds wiz be paid
The only question will now be how to pay
the government gresnbacks. This is some-
thing the plan does not contemplate. Specie
payments under it viii be reached--neUeri,"
Governor Seymour, in his speech
delivered in New York city few days,
before the convention, stated that to pay
off the bonds with greenbacks, and VIC
late the nation credit, would be to re-
duce our affairs to the same condition
as those of the Confederacy in its last
year. He said:
"IG on the other hand, we debase the
currency by unWise issres, we shall equally
perplex business aud destroy sober industry,
and make all prices mere matters of gamb-
ling, tricks, and chances. This will end as
it did in the Southern Oonfederacy. At the
outset the citizens of Richmond went to
market with their money in their vest pock-
cts, and brought back their dinners in their
baskets in the end they took their money
in their baskets, and took their dinners in
their vest pockets"
These are two pictures of Pendleton-
ism, and if the New York platform be
Pendletonian, as it is conceded it is,
then the reader has two pictures of the
result of such a platform-one drawn
June 80, 1868, by Horatio Seymour,
and the other a few months earlier by
the Chicago Times.
Compare this with the Republican
platform upon the same subjecs, which
is unequivocal and incapable of double
construction:
"III. We denOunce all forms of repudia-
tion as national crime; and the national
honor requires the payment of the public
Indebtedness in the utteTmOst good faith to |
all crditors at home and abroad. not only
according to the letter but the spirit of the
laws under which it was contracted.
"IV. 1t is due 10 the labor of the nation
that taxation should be equalzed, and re-
duced as rapidly as the national faith will
permit. --,-------------,-- q
"V. The national debt, ,contraccd, as it
has been, fOr the preservation of the Union
for all time to come, should be EXTENDED |
over a fair period for redemption; and it is
the duty Of Congress 10 reduce the rate of
interest thereon whenever it can be honestly
done.
''VL That the best policy to diminish
cur burden Of debts is to improve our credit, /
that capitalists will seek to loan us money
at lower rates Of interest than We now pay,
and must continue 10 pay SO long as repudia.
ton, partial or total, open or covert, is
threatened or suspected z n .rf -