, 1869-08-20
THE REPUDIATOR ABROAD AGAIN

IL A. l.. T., a
~ w "o'o ~ oaS ~
oo' ~ '1$'' s1A11s ous u tne
i~A'.e 20 ~ NV 'a1-pase1s twenty per cent
,'.te -1Au ooe, Ana easlng 1t 10 tho bond
notaci' heauEnle Ing New York WvrtA
Aoo lineage 1'mescompla'n TINT he is buy
:hR Inc bonds Tor the equivalent Of eighty
.n!ee oonh1s IN goa iof every ono hundred
"o1!nts III so'a que Inc public Creditor,
s aeeo4lluAa's hnase o. ~ per
~ t1e W. "o't'' ceoioctat.c 'tienus
t1'nAt,on 1'o '"A'" u Iue PUBIC
~ IN. Ael"eei4 .i'is threatening ee5ua On
Wv ''ue' anu st'is oe'oo9ine enaryodis
''' 'ne oneF' lne secretary Ii steering IN
'na ma enanneI-puy7ng the public debt.
"i'n me consent u INC pubhc creditor, for
VIAL u N "ofsh In the mn16et- Nations
'1'o 'no'',uuus IRON 1inmen1o1aal time have
f"A''eA ''''e coa'Fe, WITHOUT Impeachment
b. aHs hene'ost's oh 'ne one manu. Or
H.. ;, toA y. '" usHonui ou Tue o'ner.
=, D' t".0'.on ~ s7A, 0na
:, !. .,s. a"o'''s ~ ~ -"f' 1ena'o'on' why
,uu11 .uey 10 poosat IN the market Tor that
f'''n wh1eh ne sa5a forms the principal Of
LIE oeD' "Aut class Of creditors nre these
WIG VIA no' accept from debtor, tempo
1A"''s'a'' loe payment VI LUG 1ul'
l-sl". "l'eA we .et1is ol tho contract
>' wy - Al n's obvious thatii the world
a 'ne oa."'e :" Tue CON-
"s -, .. w "nat +ni tFuc1e'oh oelioSea IL
NJ. o''.'" '.'""' 'le'ef ''so Aoose lnelf par
:" e'tsnn1eAS - IL HUI plaih' thefciofe,
s'neo '"ey M~AJs nave stooa ABOVE par III
B'ee''p"c'S tuat 'n"so VINO loaned money
va .nen. '1noclepooa .ueh 10 oe paya''o u
s''"af HoV' 'nooen 9l1' fenole1on :" only
" f'oA o' ,"n'>H 81. ''oh' 1ont' nouls''ou W
10y ~" i'''''e, ~ s'u'no' nafe ,o1s"stoh
'n''' II '"'"' fi.'" anu INTENT not me 'ctses,
:" coo.sacs 'on. oe'efmineH ~hat Tie con-
'Iac. lca'iy H. no iaH feha III ILLUSTRATION
~ 'hls l1uth. sAe inln'I'nr point TINT not"
promising mot to paya given snui, On
testn'f day. for vn!u" received. in good
rF"'"'ho t" l'ay that R'lin, II tho creditor
Il htlInK tlo money supposed il ~ DO mol"
i1o'n't'nK '"ray IT, Tit s"nlo oeHlo Of
''"f"'''y governs l'"tl'c M rrivnt" Tr''n-
''". "'''' on sh'A morality thc 1"w OF ~ tn
lhthil c"t'irnct " f"''i"ttd. IT, therefore,
th" public creditor" l'uliovrtl whom l"ndimH
llt' 'nnry which hny"d thu nutio1l'n lifc,
lint III" nntion wiz, tME,li,H q promise u
'"l'ny II in gold, alat belief w"nll f"r'n tho
Inv Of tho contract. cvon though tho con.
srncs In b.ane ~ny unknown t" tho puI,iic
creditor eHiHciAlly stipulated otlicr-
Who. Nov III thiH c"h' it "Atin"e be
c!h'1Ds Il thal Tho lcGal-tondcr act or llso-
twenty loan net do slprcnsly state. nor
AZ rh the aSe-tWcn.y bond htilte, tint the
latter ia l'nynLlo in grte1itacka. Thu claim
t!'m The t'oswrlltics 1T" payable in grrcn-
backs IL .Itrc]y n disputed Inference. Mr..
r'udlstnn, Stevens. Butler, md otlicr nd
'..cntrs "f TINT view hayo steadily kept it
l"f.Irs the public. but the fact that TIM
i"'H1h hAvo always stuod nj rrtiniitn in
r'E"tulacks shows that Tint portion Of the
i"4h'lc which buys the bonds never believed
III their theory. HuT, nations, like iudi-
,iduals, 1re mt only morally, hut as mat
ter Ut rxpediencv, hound to conform to tho
PRINCIPLES Il honesty. Az We hnve seen,
1hr hclief of tho lender iB as l,uch part Ut
'hs contract Of l"nn hs the intent Of thu
borrower. In this cnse the intent Of the
borrower WIZ divided. Some lneM-
hers "f Congr ass, like StoSena,
doubtless intended when tho legal
tender net md lvu-twcnsy laan
net WAS passed That tho greenbacks should
Inc lcBn! tender for tho principal Of thc
l.ontls, for they demanded that even the