The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-08-03
Mr.. Stevens Last Card.
From the ". Y. Tribune.

From The ~. y. Tribune
If we could feel sure that Mr.. Thaddeus
Stevens last letter on the bond-paying ques-
tion was merely intended to cover his retreat
from an untenable position, as Lee assaulted
Grants lines before Petersburg preparatory to
evacuating that city, we should let it pass
without comment. But Mr.. Stevens has done
his country great harm by undermining her
credit for integrity and fair dealing at mo-
ment when it was of the highest consequence
that these should be undoubted; and his new
manifesto evinces a resolve to maintain a
show Of consistency at whatever cost to the
public; SO we are constrained to scrutinize its
positions.
]. Mr.. Stevens asserts that "the gold ques-
tion is settled" How settled Pendleton
and the Copperheads, backed by the Rebels,
declare the Five-twenty bonds payable in
geeenbacks; whereupon they propose to print
off greenbacks enough to pay them off forth
with, and stop the interest on the debt. AS
we understand Pendleton's Grafton speech, he
Is no more willing to pay four than six per
cent. interest. Four per cent on the debt, he
argues, will call for $780, 900 a year
o. 000, 900, 900 in forty years. Why not rather
print off the greenbacks, cancel the bonds at
once, and have no interest to pay Mr.. Ste
vens does not take this position; but he main
tains premises that justify those who do hold
it. He thus makes himself an ally-an i'm
pOrtant and most useful ally-of the repuda-
tors, without having the excuse of hating the
debt because it represents indispensable assist
ance rendered to the Union in putting down
the Rebellion. He is triumphantly and
effectively quoted by those who would much
rather hang the bOndholders than pay them,
and is to-day of signal use to them in per
suading Democrats who are not conscious,
unblushing villains to vote for Seymour and
Blair.
ii. Mr.. Stevens pronounces the style OF dis
cussion used by some of us 'unbecoming"
and "vulgar." So the culprit at the bar, lis
tening to the hot and heavy denuncation
of his crimes in passing sentence, felt con-
/ strained TO interrupt him with-"Sir, beg
leave to remind you that your remarks are
| personal, ungentlemanly aud offensive. do
not choose to listen to such language, and will
thank you to change the subject" Mr.. Stevens,
| the question at issue is one of honesty against
rascality. For months and years, we exhausted
argument and entreaty in persuading all who
could to take those bonds, knowing well that
the war must break down and the Rebellion
triumph whenever people stopped taking them
at the rate of millions per day. We assured
them that they would all be paid in gold or its
equivalent at maturity. You authorized US to
do so, as well as your colleagues OF the Ways
and Means Committee, and three successive
| Secretaries of the Treasury. Here are the
words used by you i'll urging the passage OF
! the Legal tender act, when the bill made each
| greenbaok fundable in the Five-twenty Loan
| "a dollar in miser's safe, unproducLive Is a
sore disturbance. Where could he Invest tt7
In United States loans at six per cent, redeem
| able in gold at twenty yeaTs-the best and most
| valuable permanent Investment that could be
| desired"
| Again:--
"But widows and orphans are interested, and
| In tears lest their estates should be badly IN
vested. / pity no one who has his money In.
| vested In United States bonds, payable In gold
In twenty years, with interest semi-annually.'
Again:-
LET me restate the various projects Ours
| proposes United States notes secured, at the
end OF twenty years, TO be paid In coin, and the
| interest raised by taxation semi. annually
such notes TO be money, and Of uniform value
throughout the Union"
Again:--
! Here, then. lies your choice. Throw bonds