The Placer herald., 1869-11-27
THE EXAMINER AND BoNDHoLDERs.


In our issue of the 18th inst, We had occasion
TO comment upon aud combat very strange, un-
gardcd, unit Democratic article on the financial
question, which appeared in the paily Examiner
rs editorial, on the payment Of the public debt
in coin; claiming, as we believed we were justi-
fed from the former course of that paper, that
the article was not authoritative because it was an
open declaration OF war upon the declared prin-
cipcs Of the Democratic party, and comp lete
change from the former principles of that jour-
nal. In its reply Of the 18th inst, the Eram-
iner charges us with emitting common poiteness
and exhibiting unbecoming angcr-the Eram-
iner mistakes our earnestness for anger-but
thinks it all right to announce us as 4 repudia
tor in distu only lacking the boldncss to
come out and take that position openly" in the
face OF plain declaration in our article in favor
of the Government paying erery dollar it an
equity or justice o,ces. After this, if honors
are not easy on the question of etiquette, then
who holds them /? We made but one mistake in
our article and that was in believing the first ar
ticlc in the Examiner to be an "estray," but to
our deep regret it is owned as legi innate. Then
the Examiner has squarely declared FOR the pay
ment Of all the so-called debt and interest. the
5-20's To- 40's, certificates of Indebtedness, pos.
tai currency, fractional currency and greenbacks
at their face in gold coin or gold bonds Then
wherein docs the Examiner differ, on this ques-
tion, from the shoddy bond-holders' organs of
| the east ? and are not its conductors twin broth
ers in principle, on this question, with Boutwell,,
Sherman, Schenck, Sumner, Belmont and the
Sacramento Union and why should ii complain
when we assign it its proper position in III ranks
Of the company it keeps on this debt policy? We
ask the Examiner to turn to the Republican plat
form, adopted at Chicago, May 20th 1868, by the
mongrel Convention that nominated Grant and
Colax and upon which they now stand, and read
sections 3, and 6, and then te II us ii ii is not
entitled to rank high a mouth piece and organ
Of the Republican party and Grants admi nisra-
tion on the National debt question? Then let it
read Shermans bill for rel bonding the National
indebtedness, Grants message and Schencks bill
fol strengthening the public credit aud answer if
it is not the advoc ate Of the very doctrines Of
these documents and bills, When it has done
this, let it turn to its own files and re-read its
article of July sth, 1868, and then answer if there
is a single statement or inference in our article
not fully justified by the record.
The Examiner is not justified in charging us
with mutilating the Democratic platform. We
copied every word and line in it bearing upon the
payment of the 500 bonds and floating indebted
ness, which covers four-flths of the entire debt,
and precisely that portion which the Examiner
itself quoted in July, 1868; so, if we mutiated
it, the Examiner was guilty Of the same thing
| before our act and set us the example. The Er
ammer commits wild historical bunder when
it says The bonds and greenbacks were both
given for men and material to carry on the war;"
etc. The bonding or funding bills of which
there were ten, had no connection with war eX-
penses, were never ured in the paymastcrs de-
partmcnt, and were only resorted to rs means
amount OF legal tenders, and the Government
received nothing for the bonds but gree1backs
and if they are void in law and worthless then
no consideration passed and the bonds are also
legally speaking, worthless The Examiner
thinks this a sequitur that no legal mind can
perceive" On the contrary, it is one of the first
and best establi,hed Iules OF law that contract
is dsingenuous in ignoring, suppressng and
keeping from its renders that portion of our ar
tclc pleading 70. an honest, equitable settlement
of the debt between the bondholder and tax
payer in these peyy plain and not 10 be miStd-
ken uords;
"Tbe Government can, in the face of the con-
tempated decision, pay what it rleases Tor bo b
legal tenders and tonds, and 'ce 'cih it to pay
just mhat they are rorM in goId, if it pays in
gold bonds, and no more. National debts are
only based upon national honor, and when ma
tion returns all it received. in kind pdiue
,ciM fair usury, it has liq uidated every honora
bic Obligation"
Fairness in discussion is jewell that shall
not be wanting in the columns of the HERALD
aud we leave it TO the Examiner to Justify its
assertion that the author of an article in which
the above extract holds prominent place is a
repudi iator, or to correct it and undeceve such
Of its reaGers as the HERALD does not reach. II
is not in character with the usual course Of the
Examiner to condemn policy formerly advoca
ted and change its principles on one Of the mos
important issues dividing the two parties on q
mere tel-lie graph rumor.
We repudiate the idea that any Judge of the
| supreme OOuIt Vi inc Onteu StdteS uuS dllOWeu
the slightest indication to leak out as to low the
grecnback question would be decided and we
think the Examiner will join US in that opinion
Should the Court decide greenbicks legal ten
der, or dodge the que 'tion, which is more proba-
BILE, and leave the matter stand just as it did
when the Democratic National Convention re-
solved to pay the 500 bonds in legal tenders
how would the Examiner get back on the plat
form; and would it feel at home there after de-
nouncing the greenback question as some thai
never should have been raised' But let that
decision be what it may it carries the 500 bond
and floating debt with ii as an unalterable Sc
quencc and thea as row the Democracy are
pledged to the payment of the debt, as above
in legal tenders, Or on the basis of its value il
gold, and not at its face in gold. The bonds nev
er passed into the bands of innocent purchasers
at their face in gold or at an average of ovei
sixty.ccnts on the dollar in coin. The Examiner
is barred from an attempted plea of the "knowr