The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1868-08-06

necessary or advisable to expcnd the cur
rency to that extent, but ifit should prov
to be 20 l would not hesitate to restor
ne currency to the amount at which
stood when gold touched 12s. I tell Won
gentlemen, if this were done, it would b
as grateful to you and to the people of tn
west and south as the dews of heaven +,
the parchee earth; as the quails and man
ma which God in his mercy vouchsafed to
the children Of Israel in the wilderness
alone your debt would be reduced $3.50,
VoV,VOU and the interest would be reduce
more than s50,C00,OOO in gold, Annually
tand the accruing revenue would epabl
you, without further expan ,ion, to pav oh
the residue of the five-twenties as thev ma
ture, and thus to dimi nish still further the
amount of interest, and consequently th,
taxes. If, then, the currency were found
redundant, gradual contraction could h,
effected, and as it would come when tht
debt had been paid-when the necessity
tor large sums of money on the part of the
government had passed away-when tax
es were low, it could be accomplished
Without the oppression and disaster which
now attend it.
I've been represented as inimical TO the
bondhoIders. Gentlemen, you shall Judge
me. l am hostile to no class or interest
IN the country. | simply desire to be
just-just to the bondholders-just to the
people. would live up, with serupulous
hdelity, to the terms Of my contracts. I
would pay the interest of the fve-tUen-
ties in gole, because the government has
promised to do So L would pay both
principal and interest of the ter. forties in
gold, because the government has promised
to DO so. | would pay the principal of
the fve-tTenties in legal tender notes, be-
cause the bondholders agreed to receive
them in payment; and as | would not re-
pudiate an honest bargain to make money
for the public creditor.
1t has been said thrt this policy will
give us deprecated currency. I think
not. l think on the contrary, that lust as
the public debt is ia this way discharged.
will the certainty of its ultimate redemp
ton become more apparent, aud its value
be steadily increased. These bonds ope
rate as a mortgage upon the prop perty and
labor OF the country. There are two
thousand millions of them. Pay off.these
two thousand millions, ard will not the
legal tender notes be just in that propor
ton more valuable?
But again-giye to those notes the ac
knowledgod undoubted capacity to pay
these bonds; TO pay all public obligations
aad they Immediately increase in value.
L know The evils Of a deprecated curren-
cy; Webster described them. [ would
not aid in depreciating or currency; I
fought against it when it was proposed BY
the legal tender act; my warning was not
needed. But since it has been accom-
phshed-since the debt was contracted in
legal tender-since it may be lawfully and
honest paid in legal tender-L am in favor
of continuing it until we can secure to the
people, who have already suffered ali the
evil. whatever good may be extracted from
the system.
But, gentlemen, I detain you too long,
have sought to bring in close contrast
the two parties and their respective prin-
ciples. "Choose ye between them" 1t
is struggle between law and force :;
constitution and revolution order and an
archy; purity and corruption economy
and extravasance; civil government, and
whatever comes after its overthrow intel
lect, cultivation, experience, capacity for
government, and-but | forbear-as-
[cheers; cries, "Go on, let it QUIT as |
will not say one word in disparagement of
the chosen leader of a great party of my
countrymen. This is the supreme strug-
gle for the mastery by these enduring and
opposing forces. Choose wisely between
them. Work earnestly for your choice,
and on the day of the election in Noyem-
Der the American people can be congratu-
lated for the achievement Of victory for
the constitution the achievement Of a
pros perity and happiness which can only
be scared by the enjoyment Of liberty
regulated by law, and Of law inspired by
the genius of virtuous liberty. Immense
and prolonged cheering.
Nj. A. o. Packard.
Among the most brilliant, convincing
and eloquent speakers in the favored state
of Indiana, is the democratic candidate
for reporter of the supreme court, Hon.
NJ. A. .. Packard. We attended the