The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-09-26

his nomination was received by the New York Con-
yention, proves 1t to be the real platform and the
settled purpose TO support it.
Its substance is First that the President shall de-
clare all the Reconstruction laws OF Congress null and
void. Second to compel the army To undo all that
has been done by Congress for reconstruction Third,
that the white population OF the Rebel States shall be
that the talk about greenbacks, of bonds gold Of
the public credit or public debt, Is idle talk; and nth,
to compel their President to declare the Reconstruc-
tion Laws passed by Congress, void.
What is the result OF u? The Reconstruction laws
passed by Congress declared by the President null
aud void. He then becomes dictator Of the govern
men with the law-naking power in his hands alone I;
ne may compel the military power to execute undo
what has been done, and become military dictator,
and all form and semblance Of republican govern
ment would be forever lost The white population of
the Rebel States is permitted to reorganze
their governments without reference to the Re-
construction acts OF Congress, then it plain to be
that their 0rst act will be the restoration Of
slavery the restoration of the Rebel power the reso
ration OF that engine which brought on the war and
the perpetuation OF the power and dominion of the
for ever in the South.
This is the platform. But there s also a financial
scheme Blair says that his is the true sarsaparilla
Qaugher) There lie no occasion to talk about bonds
about gretnbacks, gold and the national credit and
snys idle. Why is It that the fnanciers of the New
York Convention hurry from Maine to Mississippi talk
ing OF bonds and greenbacks, gold aud nothing ese7
The reason is plain. Mindful Of the uncertainty OF
war, and OF the public credit and public faith the
cornerstone that upheld the government against the
hst Tebe lion, it is deemed proper destroy the pub
lie debt by repudation, to smooth the way for the
restoration OF the Lost Cause y and it is thus only the
preliminary step towards the removal of all difficulty
in the path of restoration of the saveholdng govern
ment. Now, what is this financial scheme? 1t is
neither more nor less than repudiation.
Ihe doctrine of reputation fret broached by
jefferson Davis thirty years ago, in Mississippi. and
while 1t advanced him to political life, 1t remains a
Stigma upon the State. The scheme of the New
York Convention is rcpudiaton, and nothing else ;
they say that the bonds issued by the Government
HS GnteG sass were made payable Lawful
the bonds are payable in greenbacks; but if green
oaGks are lawful money, under an act of Congress-
golo rs lawful money; SO that the argument, with
equal force proves that the bonds payable in gold
, But suppose it were not sothe bonds were sold by
the government in the market, to raise money to carry
on the war for its existence. No can doubt who
Is familiar with any legal principle, that where the
principal sends into market an agent who is to nego
tate upon securities admitting two modes of payment
to raise money, that the parties may contract which
payment shall be made and such contract is bind
Ing as II the stipulated payment was expressed the
face OF the bond as the only mode.
Ihe contract Of an agent is as binding as the con-
ost Sct 81 tne principal Any other principle would be
public loan. 1t is said the agent of the Treasury,
VINO represented that the bonds payable in gold
exceeded his power, and that therefore, the govern
ment is not bound. But this deny. What court,
whst tribunal, has decided that where an agent
was sent into the market with power to stipulae an
alternative payment, the party who borrowed the
money represented by that agent, could afterwards
repudiae the debt2 II is binding upon him for its
payment as any other stipulation of the bond.
But, again. II is said that these bonds sold at
discount; that the public creditor should receive
preense would be dishonest, and endanger the State
when man goes into the market or sends an agent
there Tor the purpose OF borrowing money with
limited power OF discount, the rate of discount makes
no difference as to his being bound to pay the money
and any State nation that refused TO make pay
ment would be repudiating its debts,
is said further that the interest upon these bonds
s burdensome and the taxes to meet that interest are
heavy. The payment of the interest of any debt,
principal or interest is always hard after the money
has been spent; but that furnishes why pay
ment should be refused. four government were at
tempt escape payment in this way twould be scorn
Kissing and byword among the nations of the earth,
(Applause) But this song of hard taxes is familiar to
the public ear. 1t has been sung harp of thou
sand strings Qanghte) at every stage of the war.
Before the war actually broke out and while it was
eminent. we were told Don't resist Secession
lei the Union be dissolved for if yoI resst there may
be heavy taxes and bloodshed." Who does not re-
member that cry going through the land against the
government? It rose to howl ut Bull Run. We
then told that heavy debt had been incurred,
and many lives lost "Stop the at Once! II rung
its highest notes at Atlanta when the war was de-
cared failure and tho cessation of hostilities was
demanded. 1t croaked through the Wilderness ut the
heels OF Grant AT every step we were told that the
| daily expenses exceeded Millions and countless thou
sands OF lives were lost until it sunk to a whmper al
Savannah, where Sherman sent twenty-five thousand
bales of captured cotton to Mr.. Lincoln, and it was
| choked to silence at Appomattox Court House.
| The Secretary concluded his speech with an elo-
quent allusion to the gores of the war, asking who
would relinquish his share in them. He predicted
| that Grant would be elected, and said that his eec
ton would bring peace ard prosperity to the whole