New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-01-11

Southern civilization and of probable restora-
THE RIGHT OF THE MATTER.

| TIE RIGHT or 1HE MATTER
It is simply impossible that we should print
tenth of the letters daily written to us on
| the subject of Resumption and the Currency,
setting forth all manner of diverse views and
recommending all sorts of heterogeneous poll
cies Having accorded to Senator Mortons
propositions twice the space claimed for our
own. we NAV fairly allow him to speak for the
| great mass of the advocates of postponement,
| ot least until Cen Butler shall be heard in
favor of still longer postponement. Mean
time. we ask those who do not exclude the
consideration of abstract right and wrong from
the proyince of practical craftsmanship to
ponder the following:
Governments, like individuals rest under a
moral obligation top pay their debts-to pay them
when due if possible, and so soon after as may
be when they cannot pay promptly. To pay
debt at your own convenience after maturity
when your creditor wants it at maturity, is
only in degree less dishonest, less immoral,
than not paying at all.
Now, our Government owes n very large
amount but the great bulk of its obligations
are not vet due, neither is their payment
desired by the holders SO long az these are
paid their interest, they are content, ana would
gladly exchange their present bonds Tor DINERS
running twenty or thirty years longer. We
want to pay these off when due because the
money ouoht TO be borrowed at lower rates OF
interest in neoce than it was or could be In
ror And we want the Government to rise
nronnnv out of insolvency into sOlvency,
hoconse that is essential to borrowing at
lower rate the means of paying off our past
due Five-Twcnties, now drawing SIX per cent.
But we owe Four Hundred Millions OF obi
cations which draw no interest whatever, and
which the holders inevitably would wish re-
deemed. We propose to make these obligations
worth their face at once by resuming payment
thereon. Were this efficiently done, the great
mass of the holders would not want them re-
deemed, nor forward them for the purpose.
Being now at par with CON, the motive for
exchanging them would cease to exist.
These obligations (Greenbacks) are not ex-
prcssly payable on demand; but they are pay
able some time, some how. and, having now run
four to seven years, it is high time that they
were at least started on the road to Resump-
ton. The promise fairly runs, "The United
Estates will pay - dollars soon as they
care able;" and failure to fulfill it is per
sistcnt insolvency. OF course, we cannot cx-
pcct that our Government will enjoy full credit
in the money markets of the world while 1t re-
fuses to honor its own promise to pay single
dollar 49,. 80
But here step in the postponers, and say,
Even if the Government could pay its Green
"backs, it should not because it would make
times hard for u.s. We have borrowed, and
bought, and given notes and mortgages.
(Which it would pinch us badly to pay if the
Currency were restored to specie par: there
" fore, hold on n while, and perhaps we shall
be in better condition. AT all events, do Mt
"rcsume get"
What is this but saying that the Government
should not be honest because certain citizens
do not find it convenient to pay their personal
debts? And how can such IN excuse for
refusing to pay our public obligations he made
consistent with even the looscst notions OF
morality