The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-07-10

the Government bonds which do not carry on
their face, or in the legislation authorizing
them q specific statement that they shall be
paid in coin, are legally and properly payable
in currency.
In the next place, the platform pledges its
party TO the taxation of the Government
honds, in common with all other property in
defiance of the fact that exemption from tax
alton was one of the conditions on which they
were issued.
To understand the spirit and purpose of the
Convention, the two resolutions must be taken
together. The first may not be literally open
to the charge Of repudiaton. 1t processes ad-
herence to the terms of the contract, but it
discards the implied understanding, and the
distinct assurances of the Secretary of the
Treasury and his agents, on which the sub
scribers to the several loans acted. The
second resolution is clear, unequivocal confs-
tion. 1t abrogates one portion of a contract,
and imposes a condition fatal to the good faith
of the Government.
The World, however totally ignores the
latter declaration. 1t makes no mention of
the proposed taxation of bonds. That mea-
sure Of confscation or reputation it passes in
silence. And though the clause in question
cannot be separated from that "fiuaucial part
of the platform" which the World Cordially
endorses" our contemporary makes no refer
ence to it, or to the significant inference to
which it leads. We don't like to say that the
suppression is dishonest on the part of a
journal which has been outspoken in its fuau-
cial discussions but it is certainly disngenu-
Gus, and as certainly invalidates the general
argument with which the platform is upheld.
Besides attempting to avert the charge of re-
pudiation by emitting the most specific portion
of the evidence on which the accusation rests,
the World affects a discovery which cannot
impose on any intelligent reader. 1t may
be stated thus:-The financial declarations
are limited and modified by statements "scat-
tered through different sections of the
PLATFORM out of which statements the
World manufactures the conclusion that when
the Convention demands one currency for the
laborer and the bondholder, and asserts the
right of the Government to redeem its bonds
with this currency, q currency appreciated to
level with gold, is what is really meant by
the party. But nothing could be more uu-
tenable than this Interpretation. The fnan-
cial propositions make no reference whatever
to aught beside 'the lawful money of the
United States" 1t is with this, and this only,
that the Democratic party would pay the
bondholders. Aud though we may assume
that in the opinion of the party, specie pay
ments would be more quickly resumed under
Democratic than under a Republican Gov
ernment, we challenge the World to point out
any sentence in the platform which qualities
the bond question by any reference to this
contingency.
The Worlds discovery involves another
source Of consolation. The platform, it tells
us, is positive against imitation. "Where are
the greenbaoks to come frOm?" it asks tri-
umphantly. And the answer is ready
"They are not to be manufactured by the
printing press, but to be raised by taxation ~
For this assertion we find no warrant in the
platform. True, it speaks of ''the credit of
the G overnment and the currency made good, "
but the phrase occurs in resolution alto
gether 50 meaningless that even the World
condemns its "silliness." Aside from this
there is nothing. The party leaves the ques-
tiOn of means with which to redeem the bonds
open; and we prefer Mr.. Pendleton's interpre-
tation to the Worlds. We know that the
author of the doctrine which that journal
"cordially endorses" has not sanctioned the
construction which it would foist upon his
platform.
Let there be fairness in the controversy now
begun. The Democracy, as a party, can have
no desire to evade the meaning plainly carried
by its financial declarations. They proclaim
the taxation of the bonds and their payment
in currency; and on neither point is there
room for equivocatiOn or denial.