Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-12-03
Letter from Senator Morton. =
The World co ;tains the following letter
rom Senator Morton, of Indiana

The World co stains the following letter
from Senator Morton, of Indiana
~ s'f+iAaW AsHISGroN. Nov. 80.
To the editor OF the W ortd: ~ Wy
DEAR SIR:-In the New York Worldso
the 2Sth inst. | find an article from which
l quote the following: ,s s5sA-s sgsa 3
A telegram TO an evening paper states
that Senator Morton, soons' after the OPEN
ing of the session will inteoduee bill di-
recting the Immediate payment in green
backs of that portion of the $40 bonds is
sued tor five years. If this report be cor.
rect, thecourse of that Senator on this sui b.
ject is conspicuous for vaccitation. Eight
months ago he was an openSadvopate ofthe
so-called greenback theory During the
Presidential canvass he publicly recanted.
If he is now about to propose and aadyo-x
the telegram. his renunciation must have
been a mere political .dndge and feigned
surrender Of his principles TO promote the
success of his party 80, -,.sss .ss-s
In the first piece L. do not intebd to in
trodlice bill directing the Immediate pay
ment in greepbac of that portion of the
8 20 bonds. issued for five years, and have.
never said did to Secretary McGulloch or
any body else. In thenent place, l did not.
during the canvass, recount what said
in the Senate in regard to the payment Of
the 8 20s in greenbacks. No speech by me
to that effect has been made. What I
urged during the canvass was that the first
duty of-the GovernmeDt was to return to
specie 'payment, which, when accom-
plishedr would settle all questions as to-
mode, of paying the bonds. n 1 riurther-
urged ,thatthei Government had no right
to issue new legal tender notes and make
them applicable to pay yment of bonds, ar
Suing such notes could not be made TO sus-
tain the same relationsto the bonds in law
or equity that was sustained by the exist
ing notes, and that the further issue Of
such notes wouldindetinitely postpone the
return to specie payment. 81iss1ssl blgg u
These propositions were fully stated In
my speech in the Senate last summer, in
which l argued the legal right of the
Government to use the existing legal ten
der notes in payment of the bonds also
argued at various times during the can
yass. that whatever might be the law
on the subjects the Government could not
pay the bonds or any considerable
gortien I'll in coin. while 1.-the nlscur-
rency remained deprecated, and that
Improvement of the currency by bringing
it up to-par, was a necessary condition,
precedent to payment of bonds in gold:
that if the Governmentcould not procure
gold enough to redeem $3.50 600 600 OF legal
tender notes, it was folly to. talk about
paying bonds in gold; that the question
of the mode OF paying bonds will, be come
important only by continuance of depre-
eiated currency, without taking steps to
improve it; that to take the surplus gold in,
the Treasury, and apply it to the purchases
OF bonds in the market, which will not fall
due for IA years, would not be paying the
bonds, but shaving them, and would be an
improper use of the means by which the
paper of the Government, over due and
dishonored. should be redeemed. These
positions are not Inconsistent with any
thing i saidin the Senate. .ssiiaf-aY 7,5ai e z
l am, very respectfully, yours,
o. P. MORTON.