The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1869-09-08

Mfr. Pendleton--Certai And /
desire to be distinctly understood up
on this question, SO that there may not
be- any misunderstanding / am. no
irepudiator, as some people have called
me. l want to see the contract enter
ed into between the Government and
its creditors fulfilled to the very letter
nothing more. So, much of the debt
as was contracted before The Legal
tender Act, and which we promised to
pay in gold. should be SO paid, but The
rest ought to be paid in g~reenbacks.
1t was so contracted, and are we to pay
any more? And here I desire to COZ
rect an error. Some of the newspa-
pers have stated that L was in favor of
the issue of three hundred millions in
grecnbacks. Il have neve so stated or
Fdesired. 90 atr'- -a7z 1'
WHERE 10 Jet GREENBACKs.
Reporter-But where do o get
the greenbacks with which to pay this
large debt ? =" '- fs' ii't
Mr.. Pendletoa-In the first place
from economy and retrenchment. Sec
ondly, justice to all concerned requires
that the volume of currency should
hstaud at the amount at which it was
when. lhe debt was contracted. With
greenbaeks collected from these two
sources, ahd withoul any undue ex-
pansion, the debt can be paid within a
very reasonable time.
THE VOLUME OF THE CURRENCY.
Reporter-Why keep the volume of
currehcy hti what it was when the debt
was contracted d? % Hit" -Tf
NMr. Pendleton-It is honest to pay
back to the creditor of the United
States the value of the principal Dor
rowed and the interest If the cur
rency is kept at the amount at which it
was when the debt was contracted the
legal lender paid to, the creditors will
be exactly the same value as the green
backs whichlwere received for them.
This, we think, is honest on the part of
the Government, and just 10 the cred
itOr. ! a not say from memory
whether the amount of legal tender
exceeded the amount provided by law.
HOW TO RETURN TO SPECIE PAYMENTS.
Reporter-And how can we return
to specie payments?
Mr.. Pendleton-We cananever re-
turn to specie payment except by a
vast contraction of the currency, and
l saw that a Cincinnati journal the 9TH
er day, concurring,in this idea, asked
in very emphatic terms, "Who dares
t % propose that now Pr Until the debt
is paid. and the internal taxes are re-
duced and equalized, and the duties on
imports fairly adjusted, contraction can
only increase the hard times which
now exist, and bring final ruin upon
the de tors of to-day.
MR. PENDLEToN's VIEWS ON THE TARIFF.
Reporter-And what is your opinion
concerning the tariff?
Mr.. PendletonI would reduce the
tariff to the lowest possible limit con
81 ;tent with the collection of a su1i-
cient amount of evenue for an Geo.
nomical administration of the Govern
ment. [ see that our worthy Senator,
Mr.. Sherman. says in his speech at
Canton, last Saturday, that he does
not know the difference between the
tariff for ven and the tariff for
protection. / would advise him to
read this present tariff for which he
voted, and he will there see that the
packers of New England pay
NOTTINGHAM the salt which they use,
while the Western packers of beefand
pork pay seventy five per cent. for
their salt, and he will perhaps see Il e
difference. / would call his attention
to what Mr.. Benton said upon this sub
ject, to-wit: That pork beef, and
fish kept company frem the beginning
of the government until 1872, when
they separated. Since that time beef
and pork have lever c each other"
[ think that after the reconstruction Of
he Southern States is concluded, and
every State back once more into the
Union, in full enjoyment of all their
and privileges, the question OF
the fna: C -, the banking system, and
the tariff will receive greater attention
and more consideration than at present.
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