The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1868-08-20
Democratic Convention.

Democratic Convention.
The Democratic judicial Convention
met at Mechanicsville ON Wednesday
the 18th inst. for the purpose Of putting
In nomination a candidate for Circuit
Judge Of this Circuit. Mr.. J.J. Huber
of Cedar was elected Chairman, and
II. H. Sales Of Jones, Scc'y Of the Con-
vention. Candidates do not seem to
have been very plenty; the opportuni-
ties for defeat being, probably, to great
to offer much inducement. A commit
was appointed to select candidate,
who, to quote from the Age, Suggested
the name Of T.. J. Dudley, which sug-
gestion was unanimously endorsed by
the Convention" Mr.. Dudley Is, we
believe, a resident Of Cedar Rapids
and being man of means and leasure,
not taking much interest in politics, or
anything else, save that which COM
forts the inner man, will, undoubtedly,
see Mr.. Yates elected Circuit Judge
with as little sorrow as any man the
Democrats could have chosen to my
special attention to that operation.
s. -->>-
The Spirit and Letter Of the Law.
Leftingwell in his speeches. denies, IN
toto, that, in the contract letween tho
United States and the holders Of its
bonds, either party understood that the
bonds were to be paid in specie. He af-
firms that neither the law contemplated
a specie redemption. nor did the takers
Of the bonds expect it. With this grant
ed as premises, he argues that both the
spirit and letter Of the law are satisfied
by payment Of the public debt in green
backs. Now, without saying anything
as to the ruinous effect Of such wild
cat scheme, 1t Is easy to disprove the
premises from which he argues, and
thus overthrow his conclusion. The
latter part of his affirmation needs no
contradiction. Every man who was In
the north at the time knows that these
bonds were advertised and sold by
government agents, and bought by all
classes Of citizens with the express un-
derstanding that they were to be paid
in specie. Every man knows this aud
every man admitted it until some demo-
crat discovered specious party cry In
"greenbacks for the bond-holder."
The letter of the law, though not APP
pealing directly to the memory of each
individual rs demanding specie pay
ment, still contains ample proof that
such is its tenor, and that such was the
intention of its trainers. Read the fol-
lowing provisions of the Legal Tender
act, (Feb. 25th, 1929
''SEC. s. Ind be further enacted, That all du-
ties on imported goods shall be paid in coin, or
in notes payable ON demand, therefore autho-
rixed to he issued, and by law receivable in
payment of public dues. and the coin so paid
shall be set apart as n special fund, and shall
be applied MS follows:
| on the bonds and notes Of the United States.
second; 10 he purchase or payment q one per
made within each fiscal year after the first day
| of July, eighteen hundred and sixty-two,
which is to he set apart as a sinking fund. and
the interest of which shall in like manner be
applied 10 the purchase or payment ofthe pub
lie debt as tn: Secretary of the Treasury shall
Third: The residue thereofto be raid into
the Treasury of the United States"
This contains provision to pay not
only the interest, but one per cent. of
the entire principal of the national debt
each year In coin: Does any one sup
pose that either the law or its makers
pal Of the debt in coin and the remain
der in deprecated paper? Certainly
not. The law intended that every cred
itor should be treated alike; and evil
IDENTIFY, from the section quoted, that
every one should receive coin. But
Democratic speakers and writer's quote
you some recent utterances Of the late
Thad. Stevens to prove the intention of
the law to pay in greenbacks. Mr.. Ste
vens was chairman Of the Ways and
Means Committee, and undoubtedly
knew, ut the time of the passage Of the
law, what it contemplated. Read the
following, quoted, verbatim, from Thad.
Stevens speech, urging the passage of
this very Legal Tender act:
"A dollar In miser's safe, unproductive, is
n sore disturbance. Where could he invest II :
IN United states loans at six per cent. redeem.
able IN gold at twenty years-the best and most
desired"
Again:
In tears lest their estates should he badly In
vested pity no one who has his money TN
IN kS%
matter what Mr.. Stevens said or
thought few weeks before his death,
the above language proves conclusively
that when the law was made, the heresy
of paper payment was unthought Of by
Tha!cus Stevens in common with every
one else. In view of these facts, we
conclude that If our government 'ful-
fills the spirit and letter of its contract
with its creditors" as Leffingwell said
Democrats intended that it should do,
it must pay its bond holders in coin.
Last week the foreign imports at New