Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-01-16
The, Direction of the tide.

SO At the Republican County Conven-
tion held in Indianapolis, Indiana, on
Saturday, the subjoined preamble and
resolution were passed
Whereas, Equal and exact justice
should be the rule of action for public
as we'll as for private debtors in
dealing with their creditors; therefore,
be it
"Resozued, That the bonds and other
obligations of the General Government
which do not expressly stipulate for
payment in coin on their face should be
paid in legal money; and that our dele
{ gates to the State Convention be in
structed to vote for resolution in the
State platform embodying this PROPOSE
tion." r..
AS indicating the increasing favor
with which the proposition to pay the
fve-twenty national bonds in currency
is received by the people, the action of
the convention above cited is one of
singular significance. Considering that
the majority of the Radical newspapers,
with the -Neu York Tribune at their
head, have stigmatized that proposition
as one to repudiate the national debt,
and have hurled against its advocates
all manner of invective, the convention
manifested noteworthy independence
of spirit in the passage of the resolution.
The Radical congressional delegation
from Indiana, following the lead of
Senator Morton, is in favor of the pay
ment of the entire national Indebtedness
in coin. He has made himself conspicu-
GUS in the discussion of the financial sit
uation and a letter published by him
two or three months ago, advising the
postponement of the payment of the
Government Indebtedness, and reduc-
tion of the expenditures, was very gen
orally discussed by the press of the
country. Al @ Ge ari
The. preamble and resolution are in
conflict with the declared policy of the
Republican party, SO far as that policy
can be ascertained by the expressions
of the press of the party and of its Con
gressmen. Among the latter, Thad
Stevens and DIR. Butler have said that
the bonds not made payable in coir
could be redeemed with treasury notes
without any trespass on honor or good
faith of the Government. For this
statement they have been severely be-
rated by the Radical newspapers and
by their Radical associates in Congress
Whether the Radical State Conven.
ton soon to assemble in Indiana shall
or not sustain the position of the Indiana.
polls Convention, the latter has showr
that this question of coin or currency re-
demption of bonds made payable il
"lawful money! is one which the masses
of the party in power in the Western
States hold to be above party. They
are prepared to take an independen
position on it. They will not be dra
gooned into the traces of party which
declares they shall be taxed for the pay
ment of bounty to the bondholder,
which is not demanded by law and ha,
no foundation in justice. The infuenc.
of Senator Morton and of his Radica
associates in Congress, and the disciplin
ing of "the Iribunes of the press,'' ar,
not strong enough to keep within tn,
party lines, on this question, the Repub
lican taxpayers of Indianapolis. They
are within the shadow of the Stat,
Capitol, in which partisan influences ant
artifces in Indiana, as in all the othe
States, have their source; yet they hav,
deliberately and plainly said to thei
| party in the nation: Touching thi
matter Of the payment of the five
twenties in treasury notes, we believ
the copperheads are right"
! So the tide is running. 1t will ru