The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-07-02


the way to diminish our burden of debt is not
to improve our credit, but to impair it; not TO
make capitalists so secure in lending us money
that they will accept lower rates OF interest,
but to violate our pledge, and refuse to pay
the rate we have promised not to put repu-
diation of all kinds bsyon suspicion, but 50
to practise ''psrtial and covert" reputation
that the Government shall BE- everywhere
understood as threatening that which is total
ard open"
There can be no mistake in this that those
who voted for the resolution of Mr.. Cobb re-
iect and spurn The Republican platform. For
that platform emphaticaly calls for the pay
ment of the public debt according TO the letter
and the spirit of the laws under which it was
contracted. The laws under which many of
the loans were contracted expressly exempt
them from taxation. Without the pledge on
the part of Congress that the five-twenty bonds
should not be subjected 10 taxation, the money
to prosecute the war could not have been OBJ
tanned upon that popular loan. Without this
pledge, the foreign capitalists would have let
these bonds alone and the laboring men of
Germany and of the United States alike would
have refused to make our treasury their
savings bank. The resolution of Mr.. COBB Is
in direct violation of a contract, formally and
expressly executed, under the sanction of
public law, between the nation and its
creditors.
The platform was the unanimous utterauos
of the Republican voters of the country. Not
a dissenting voice was raised against its
strongest proclamation of national good faith.
But that which the enemies of the party and
of its candidates dare not propose, in the face
of the intelligence and honor of the masses,
they bring forward in Congress. The honest
policy of the loyal millions is denounced and
rejected by the majority of their representa-
tives.
1t is quite impossible that those who lead
the movement should be blind to its immediate
effects. 1t is blow aimed at the life of the
Republican party. The strength of that party
is in the common notions of good faith, fair
ness, and justice. 1t is the party of honesty.
Beginning by opposing the theft of labor and
OF freedom, it has fought against other forms
of theft as they appeared; and its solemn aud
unanimous vote against any form of evading
the obligation of the public debt was the sim
pie and necessary expression of its essential
character. Should its control now come into
the hands of those who support the opposite
policy. its career is run. Should the control
of the Government come into the hands of the
repudatOrs, the overthrow of the principles of
honesty will be the triumph of moral rebel
lion in no respect less ruiuous to the interests
of the country and to the future of popular
institutions, than the triumph OF slaveholding
treason would have been.
But this is impossible. The United States
are not about to forfeit the honors of their
victory by confscating the goods of those who
have trusted them. Even piracy by sea, or
war for plunder by land, could not be ap-
proved by the people of this country. But
open robbery by land or sea is a less crime
than that of him who betrays trust vino
steals from confdipg guest; who wins by fair
promises the control OF anOther's possessions
and appropriates them to himself. They who
propose this as a national policy are not in
harmony with the people OF this country.
! They at open war with the Chicago Con-
venton. They are the uDdisguised enemies Of
| the Republican party.
| Why should there be any difficulty about
this? Why should any one fail to understand
that on this vital question there can be but
two parties in this country, the party of good
faith and the party of reputation? The Re
publican party has set up the standard o
! honesty, of strict accordance with the letter
and the spirit of the laws for the public debt
Mr.. Butler, and few who agree with him
the bitter and persistent foes of the Republican
candidate for the Presidency, have set up the
standard of dishonesty. They are ready
without scruple, to repeal the letter and t
| disregard the spirit of these laws. They have
their allies and their friends; why should they
not go to their own placer
We print elsewhere an analysis of the vot,
of yesterday. 1t appears that of thirty-foul
democrats present, all DuJ LWO-OlIBredVe5
of New Jersey, and Wood, ofNew York k-votet
in favor of the resolution. Sixty Republicans
most Of them from the Western States voted
in its favor, and ffty-three against it. Bu
thirty-six Republicans were absent, amoni
them some of the most thoughtful and wises
members; and in full house it seems certain
that a majority of the Republican repre-
sentatives would have been recorded in the
negative.
This vote is not, perhaps likely to lead t.
legislation. But it must lead to some chang,
in parties. Some of the so-called Republican
who have joined with the Democrats in Con
| gress to pass this resolution, may have voteC
hastily, and without due consideration or
settled conviction. One of them at least
MIR. Bingham, of Ohio-voted yea, in the hop
of moving a reconsideration at later hour
and defeating the movement. But there ar
those among them whose settled policy it ha
been, from the origin of this question, t.
divide the Republican party and to oppose it
principles. On what pretext, it may reason
ably be asked, can such man as Mr.. Butler
of Massachusetts, who has advocated ever
form of reputation, and has finally succeeded
in engineering the passage of the resolution O
yesterday, claim to be member Of the Repub
lican party