The Conservative. (M'connelsville, Ohio) 1866-1871, 1869-02-12
REPUBLTCAN ON
THE GRRENCACK ISSUE.

THE GR8ENCACAl lSSBE.
On Monday, in the House Of Rep.
resentatives Of Ohio, Mr.. Warren,
elected as a Radical, made a speech
ia support of his doctrines on the
subject of bis anti-repudiauon rec
olutiohs. Believing that the
Debt contracted IN greenbacks. TO
be paid IN the .same A.. currency, al
though a Radical. tho author OF the
resolutions is in favor Of adhering
W the bond IN letter and in spirit,
and consequently Is opposed to that
rSPudiaton Of the contract whish
would give, as free gin from the
people. near eSOO,OOe,O 900 OF a bonus
to the bOndholders, by the payment
Of the debt IN gold.
The following arc the first two Of
the resolutions which led TO the
debate.
RESOLVED, That by the law and
justice of the case, the United
States fvo-twenty bonds arc paya'
bio IN United States legal tender
currency,
Rssolued, That oaId bonds ought
to be paid us fast they can without
too great an expansion Of tho cur
rency; that tho degree Of expansion,
proper TO be established and KEEP
up while tho National and Stat,
debts arc being paid, Is under which
those debts we're mainly created
having reference, always, To the in
creasing business Of tho country.
The other resolves, eight IN all
favor the retiring of the NationO
Bank currency, with the substitu
tiOn Of legal tender notes therefor
and against the funding schemes G
Congress.
In support Of tho LaymoD
of the legal, tender nOteI
Mr.. Warrsn read from tho note
themselves that
"This note is II legal tender &,
tho payment OF all debts, public an
! private, except duties on import
and interest on tho public deb:, an
. is receivable in payment Of a
! loans made tc tho United Siates."
:. In commenting upon this endors
$ mont on the back of the legal ter
0 der notes, Mr.. Warren said:
r "Here is tho important guarant
0 that enabled tho Government
Fart with this noto for u valuab
consideration in the first place, ar
without which it would never hay
boon worth anything to anybod
o The guaranty itself declares bot
2 the letter and the spirit Of the Ia
0 to wit: That the nolo shall be
o legal tender, for the payment Of {
j. debts, public and private, exec
o duties on imports and int2rcst (
!, the public debt. IL was in purs
n ancc of the letter and spirit of Il
r law that this guaranty was print
d on the note. And what for? Sir
y ply for the very purpose of givil
e II value.
n "Three hundred aud fifty-s
y millions of dollars in notes of Il
n kind, put off by the Govornme
,s upon the people under this sRl
d guaranty, are now held everywhC
8, by all classes of persons in |
r country. And the question now
os shall tho government, having
g. celved the benefit Of this guSraI
m to the am ount of 1856, 100000, kc
III and perform it in good faith aceol
i'd ing to the spirit ::and letter of
law under which it was mado,
basoly yield to the opportunities
"a one prIviIedged class after anotI
pt in making exceptions to it, untl
h, loses all its virtue, and the notes
i come worthless in the hands Of
of people. a
n "lf the Government is to perfo
Ia this guaranty in good faith, 1T
not suffer the principal of the Il
y twenty bonds to bo excepted fl
bo its operation, nor can 1t suffer th
ra bonds to be funded into other boz
~ requiring coin payment as to
10 principal, neither can it suffer a
coin contracts TO DO LOCALIZED,
"A long as any Of those notes remaiI
- the hands ofthe people,"
oi Our Representative.