The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-10-03
The GFeenback Question I'm the
: Presidential Campaign.

The following, under the above caption
in the New York Herald, journal favor
ing the Presidential candidates Of the Rad.
Ical party-Grant and Colfax-we deem
worthy of republication because the Her.
aid has been conceded TO be pretty sure
indicator of the changes in the political
Atmosphere. Read what the Herald has
TO say on the grecnback and bond ques.
ton, and the relative positions Of the two
parties thereto:
"What is understood by the greenback
question-that is, the question Of paying
that portion Of the national debt known
AS fve-twenties in greenbacks--is assum.
ing considerable importance in the Presi-
dental campaign. Mr. ValIandingham,
in recent speech at Fort Wayne, strikes
boldly right into the snbject, and makes
| it the keynote Of the contest in the West:
He does not trouble himself about negro
suffrage, the reserved rights Of the States
according to the old Democratic platform,
or reconstruction, but confines himself 70
advocating the payment Of the debt in le-
gal tenders, to denouncipg the graspiDg
bondholders and the Republican party,
which pretends TO favor the bondholders,
and to the cognate questions Of taxation
and economy. Other Democratic orators
take the same ground, if they DO not con-
fine themselves so closely to this subject!
Then there are the Labor Unions, an or.
ganization numbering at least half a mil
lion members in good standing, which
make this Fundamental article of their
platform Of the July National Convention
in this city. In fact, in every direction,
particularly throughout the West, the
Democrats are bringing this question
prominently before the public.
"a great many Republicans, too, are
for payingthe fye-twenties in greenbacks,
according to the letter and spirit of the
Law, though the party as a whole has not
ventured to make this part of Its creed,
1t was shirked in the Chicago platform,
though the Republican majority in Con-
gress did not hesitate to pass bill to re-
duce the rate Of interest on the debt one.
third, which practically amounts to about
the same thing as paying the debt in
greenbacks. The two most prominent
radical leaders in Congress, the late
Thaddeus Stevens and Ben Butler, have
been most earnest in advocating the pay
meut in legal tenders. Many other Rad
ical members entertain the same view,
and, indeed, there are few Western men,
bers of that party who do not. Governor
Morton, of Indiana, gees with the Demo-
Gratis on this question, and, as Mr.. Val
landigham remarks. ''The Indiana Re-
publican Convention also went over to
the side of greenbacks, like sheep crossing
a fence, but were obliged to be led back
by the halter by the Chicago Convention"
1t is evidently popular idea, and the
Demo have got the wipehand of the
Republicans on the issue.
"Still, neither party is entirely united
on the question. The Republicans, how
ever, are most divided. The division in
both parties is chiefly sectional, the West
going for paying the fve-twenties in
greenbacks, and the North and East,
where the bonds are mostly held and where
capital is concentrated, go for paying in
gold and for forcing specie payments in
order to accomplish that 1t was said
that the Democratic nominee, Governor
Seymour, was against the greenback men
of the West and in favor of the bond
holders; but Mr.. Vallandigham de-
clares that Mr. Seymour has made di.
rect contradiction of that statement and
has emphatically accepted the Democrat
ic platform as Western men understand
it. Yet we see the assumed organ of the
Democrats in this city is under the con-
troll of Belmont and other bondholders
and capitalists, foreign and native. 1t
pretends to speak for the Democrat Q par.
ty, when the mass Of that party through:
out the country hold views on financial
questions directly opposite to this organ
and the small clique of bondholders that
control it. With all its assumption it
dare not touch this important question Of
paying the debt in greenbacks, tho on
that question the Democratic masses are
moved and are going to makeit
the most prominent one of the campaign.
Looking at the contest now commencing
in all these points ofview, anda the rival
interest involved, we may expect some
curious developments among the factions.
But in the fight we have no doubt the
greenback men will win, and, if Seymour
should be elected, will have the control
of the administration. The so-called DEM
ocratic organs and leaders here-the aris--
tocratic bondholders-had better look out
in time and trim their sails accordingly,
Or they viii be distanced in the race and
eft out in the cold"