The evening Argus., 1868-08-06
TIE PUBLIC DEBT.
NO RepudiatiOn- mo Imitation.
The Democratic Platform yindicated.
Read, Tax-Psyers and Plow- holders and Do
fer Yourselves and Children.

The cry Of reputation, raised by the bond,
holders and radical party, upon the On.
nouncement Of the plan of paying the 20
bonds in greenbacks, has spent its force. 1t
has been conclusiyely proven to all men,
that there was not only no reputation in
volVed in such discharge of the debt, bat
that the whole system of radical finance was
conceived in and carried out according to
the letter aud spirit Of population. Ac.
cording to it, and all radical laws made to
sustain it, contracts entered into prior to the
radical advent, and made payable in gold,
were held to be well discharged by legal ten.
der notes, when these notes were worth but
30 cents in gold on the dollar. This was in
fact reputation, as it compelled the creditor
to receive for that which he had paid 100
cents in gold, that which would bring him
no more than 3j 30 cents in gold. 1t is
quite different when the bondhoIder is ten.
dered 100 cents in greenbacks, now WORTH
IN gold, 10 cents for that which he paid 100
cents IN greenbacks. at the time, worth only
40 cents, in gold. If this be repudiation
the crime is on the part Of the bondholder
and he Is the "peueteutiarv bird" and
"scoundrel who exacts it of the plow.hold.
er. But these radicals not only repudiatad
the contracts made payable in goId, "in
which TO use their clap.trap, "the fortunes
OF widows aud orphans were in many cases
wholly invested, but they began the repudi.
anon OF government contracts, and cast an
eternal blot on the radical party in May
1863. la 1851, Immediately after the battle
ol buI Run, congress issued three.yearloan
treasury notes. These we're sold for gold, |
contracted contract to be paid III gold, and vet in
L7oz II was decided by the Jacobin partv |
that payment for these notes must be rece;v. |
ed by the people in paper. mawful money -
or that they should receive such bonds as he
government chose to give them
But the last echo Of this ralic.l orr ofI
fepudlaNou' died with IL, saunjs ~ ~
political battles of 1867; aud. forced rra,,
their position by their schemes to aasco ~
people beng thoroughly exposed duriny ti,a,
year, they have adopted still less tsnaII'
position that, 10y the Democratic rIan t,o
national currency will b. so upcb inaotaJ
as to be wholly worthless. IN other xyn.5s
that Just III proportion as the govarn,,or,ta;
charges its debts will its credit fan I'D -.
promises to pay depreciate. This is -
to frlghten the holders Of few dolis,I
greenbacks, and from no honest copvir,l ~
The men who use this argument knn,.
better.
We have said the campaigns Of last wear.
so far as the currency question was at all in.
vOlved, were fought on the part of the rad.
lcals upon the supposition that the dem.
oeracy wished to repudiate the debt. 1t is
fought by them this year upon the assertion
that we wish to initiate to utter worthless.
ness. To show the character of this ssser
hon, and that the pisn proposed by the
democratic platform is the only honest, lie.
Ultimate, or practicable mode of discharging
'ur public debt at all, we give few figures
.omPiled from statement in the Bangor
Democrat. This latter is the question the