Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1868-04-02
Repudiation. I


The Ia Crosse Democrat, tho
leading Democratic paper ID No
West, Is outin favor Of population.
Another Democratic Journal, The
Repudiator, has been started in st.
Louis, to advocate the same views
without having the honesty Ia avow
them. The Republican party affirm
that the 500 bonds shall be paid
in whatever is the currency ofthe
country whether greenbacks or
gold, when the government ispre-
pared to pay them. The Plain
Dealer says, let us pay them as fast
as they become due by issuing
greenbacks. 1t says over FIVE hun
dred millions are already due, and
the Government should Immediate.
ly issue an equal quantity Of green.
backs. When the next FIVE hun.
dred millions are due, issue another
equal quantity Of greenbacks, and
so on until all the $40 bonds are
entirely cancelled. All this looks
very nicely on paper, and some peo-
pie may imagine that 1t is very
easy method Of getting rid ofa bur
densome public debt But let US
consider. We should like to have
the Plain Dealer inform us, after
the Government has manufactured
enough United States notes to con-
vert all the 5-20s into greenbacks,
what does it propose to do to re-
deem the greenbacks ? Docs the
Plain DOR contemplate paying
them at any time or in any thing
After the country has been flooded
with two thousand millions Of
greenbacks, what is to be done
with them? They must either be
by taxation, or funded in
to new bonds, or paid in gold. But
the Democracy are opposed to an
increase of taxation and propose
heir scheme of reputation to
avoid it. If the greenbacks are
funded again, then we are just
where we began. Does the Plain
Dealer propose, then, to pay these
yreenbacks in gold, or to repudiate
hem entirely? g.
A greenback is simply "prom-
Sc to pay the bearer" go many
'doltars.' A dollar is 234 grains
,fpure gold. Now when the Plain
Dealer has paid all the $50 bonds
" issuing 2,O00,O0O,000 of green
,acks, or promises to pay dollars,
What is to be done with them ? The
5reenbacks are only due bills, and
he Government is still under obli-
sations to pay them. Hoso isit
proposed to pay these due biHsl-
Vow this is the question which the
Plain Dealer and the Democratic
Conventions do not answer. I'M
ess means are taken to redeem
hose two thousand millions of
.reenbacks, they will speedily be-
ONE worthless and the people will
e shamefully swindled The pres
mt issue of greenbacks is worth 20
er cent, or 70 cents in gold will,
ny a greenback promise TO pay q.
ollar." This is because they are
ot redeemable by the Government
presentation at the Treasury,
I'd the reason they are worth even
at much is because the holders,
.lieve that sometime the govern
ent will redeem them in gold at
cir full valuation. Let it be known
at they are not to be redeemed
all, and they would instantly
op to the level Of Confederate,
A'-''h e'
Letthere beno misunderstanding.
he Democratic party is bound to
form the people whether they
oppose to redeem the greenbacks
not. If not, then they propose
sWindle the laboring men Of the
untry. They propose to make
e poor take worthless paper for
cir daily wages. They propose
rob them of their hard earnings,
ley propose to manufacture two
ousand millions of greenbaeks to
noel the 5-20s, but what do they
oppose to do with the greenbacks?
CLereldRd Herald. .r...-r