The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1868-04-10
From the New York Freemsn's Journal
"Repudiation,

"hepuol0tlon,'
There IL i use msde Of this ward, that il
incorrect, and Iesds 10 mistskes. IL i's
prims'ive meaning il wac the refusal, Of one
10 consummatc . marriage, be.
cause. owing 10 fsult on the psrt OF the 20.
Ipoused, the marriage would he shsmeiul.-l
Ia ifs application to 6oancisl mst,ers, its
roper meaning. by ussge, 10 a denial OF
any obligation 10 pay a demand. To illus
usts: An owner OF real estate suLhorjzes
an agent to collect his rsnis. II this sgen,
should, over snd above, underlske TO buy. or
sell, real estate ia the name Of his princi.
never having sulhor zed such agent 10 buy
or 10 sell.
Bu', 10 . popular accepts'ion smona US,
''iepud;stioa" is spoken of asa reiusa 10
pay just demand" That Is not the rgh
meaning OF the term. "Repudialion," on
The part Of State. or corporation, 10 merely
he assertion that the agent that has acted
ior one or lbe other. exceeded his powers.
The grand axiom applies: smpisr covea,!-
'L.t the buyer look out for The authority Of
the one ,ha, seIl.!
In his address 70 the Albany Convention.
10 v hch ~ sscrifce good deal 0f space.
This week, Mr.. Seymour seems 10 Us to sup
pose Reputation is something shocking. =
lie hue been 8 very lucky rich man, with
Imsny sg-nts. IL he has never bad 10 rrpu
diute III. action Of any sgen, Of his, tres.
passing his authorization.
Whie taking OF possible deieriora'ior
! OF g,es nbacks ull hey would be ~or'h on',
tlien cents on the gold dollar, Mr. Seymour
says: .Tha, would b. rerud,alion.' We d,
; DOT und4rs'sud the trm thus. 'Repudin
luon,' except no ~ ors,oric., flourish. mean
. depisi that there Is any obligation to pa!
f. one CENT!
But. let Va pass this By
). There are three theories, IN regard 10 III
, pubic debt.
The theory of the bontholders: w
paid ,hir'y tive or forty cents IN gold for
greeLbnck doiinr. aud ~i'h tbres urcenbscl
dulisrs We bough, buH'is. on which, 10 gold
W. hive been drawing Elk per cent. in'efes
4, on ,he face OF them No~ we want 'h
!, Tux payers 10 psy The p''nc'phl III gold on
!, dollar, tor every ihirv five or Tory ceo's
on the doliar We paid Tor 'hem.
III Another theory is that Of General Single
ton, ot Illinois. aud uih b,1. II many 9th
d .rs. II " one that. il moderate co"assis d
, not prevail is sure 10 triumph. in the co0rs
o, a lew yesrs il 10 his: Tue war debt ,
/, The the United States wss incurred Tor a
y un constitutional purpose. and by uhcons"''
,innsl means The people OF the Unite
Al States never authorized their Federal agen
, 10 con,ract ,his deb,, end, now il has bee
!. Incurred by their unfsi,h.u: sgeD's. they d.
L. Inv that II was lawfully incurred. snd the
it--thct 10, they say they have ~
D. incurred the obligation Of paying a cent I
sllt. This 10 certsin TO be the final view q
ken by the people Of the United States. 81
NIL cept wise counsels prevail on the bssis Of
vel THE THIRD AND N ,pERATED THEORY. th
=, Of Mr. Pendle,on'
,h This theory, 70 we understand j. is
ollows: The power Of a people over the
/. lcons,ltu,ion' il Nc cert ain a. the right o.
constitution over Government A Go
!, eminent violating . constitution, and fort
- with, repudia,sd by the people concerne
lie "or,hipsa for sil lis promises. But.
the peope concerned. ic their 0'gsoiz
/. powers - \ st,s. have accepted ,ho VII
ti,n OF ihtir coEstitu'on, The S'aiee a
hound hs The sc,s Of thci, neop!c nccordi
l. 20 ne s,ic Liter Of The PROMISES made.
a a. P.ndie,on's plan, ~ we unders'a
liz, praviac- 'mthsr: Thst il 10 the duty
a iosi islr.tion Of Government to p'
v,dr CO. The common veal, and never 70 ~
.lv,fic. TO 10 a ,netry the welfare OF comm
A., mites
~ Tsking ,hese two iormu az into accou
:" 'i,is plan faces the fact that large and I
-" pressive national debt is weighing on
- people and ought to be relieved. Mo
'S over, thst II can be relieved without inj
w. ;ce to any one-though Il may dissppo
~ expec,sp,s Of fortunate gains.
- Mr.. Seymour, on. HE plan of extra 'hoT
n. s.m... ,no ,suva,A In IN . uuhlic deht mi