Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-04-05

feSscs to reply, ufSeu ~ dnSuhse "
plain rs can be spoken, the issue, within
the approaching fifteen years, judiciously
distributed over that space of time, of the
sum one thousand six hundred and two
millions six hundred and seventy one
! Thousand one hundred dollars What ex-
| cuse can be made for q man of intelli-
gence thus attempting a wholesale and
fagraiIt deception In committing this
| palpalhe outrage does he represent the
political morality of his party2 Will his
party press defend him when he is thus
onvitted-utterly and OVERWHELMINGLY
convitiedl 1t is true that we have cir
culaiislg medium now of about seven
hundred millions, and that | said the
business interests of the country demand
ed that it should be a thousand millions;
that from year 10 year enough be issued
to keep il up at least TO that amount.
| said substantially the same in my brief
speed. in the Sth of January conven-
ton. / there stated that would sprinkle
the next fifteen years with cur
rency in payment of the ive-twenty
| bonds. They have to be paid
within that period, unless they are funded
| and fastened as an everlasting curse upon
labor Have my "ideas then in regard to
the currency suffered great contractioR?"
Here, on the Sth day of January, | was
in favor of paying the entire amount of
the five-twenty bonds, according to the
CONTRACT in legal-tender paper. Twenty
days later, in the House of Representa-
tives, pressed the same argument with
] all the force at my command This is
| known to all men who have read my
statements. If there is any difference in
| my positions at all on the two occasions,
| it is Il at advocated more initiation at a
| time in my speech in the House than l
| did in the Convention here. The charge,
| therefore, that my views have contracted
| on that point, is absurdly and cOnspicu-
ous'y untrue. / am amazed that there
| lives man, knowing all the facts, who
has the hardihood to make it.
WHAT Is THE CoNTRACT-IT SHOULD BE
COMPLIED WITH.
/ come next, however, to the consider
alton The great and vital question in
vOlvec in the discussion of our financial
system, and it will become my disagree
| able duty to point out in this connection,
| a mistake of the Senator's far more i'm
portart than any have yet noticed-a
misstatement SO mOnstrous in its audacity
| and in the evil of its purpose that it tow
ers in its giant proportions over all its kin
| dred in the same speech. All agree that
thedebt ought to be paid according to
law. What, then, is the law on that sub
iect That is the real undying issue in
the mind of the taxpayer. Shall the
1 II I. 10
him Under the law, honestly and fairly
administered as it exists on the statute
book he will receive almost double the
amount of his original investment. Shall
he have the law perverted, set aside and
| wholly disregarded in order that his cruel
speculations on the toll of the people shall
be still greater Shall a party be kept
in power which is breaking the law
every moment, in order to make the rich
| ric ler and the poor poorer Shall an ad-
ministration be sustained which openly
violates solemn enactment in
order TO feed and gorge vast,
swollen mOneved aristocracy out
| of yoIr pOcketsl These questions make
it absolutely necessary to determine pre-
cisely what the law is. If men in high
places controlled by the power and in
| fiuence of wealth and monopoly, are
wilfully disregarding the law Of the land,
for the purpose of plundering the people,
making them pay what they do not owe,
| it must be known, E nd they shall be held
up as public enemies deserving the fate
of malefaetors. They will be eXecrated
by all this living generation of toll and by
each succeeding one that shall arise in the
unborn ages as long as the human race
can carry the memory of accused greed,
fraud and oppression.
THE TWO PLATFORMS IN INDIANA con-
TRAsTED.
When the Democracy of Indiana met
in convention, on the Sth of January,
they said in plain, clear words what they
believed the law to be. | took my stand
upon that resolution in the House. re-
produce it here now, for it cannot be re-
peated in the hearing of the country too
often.
'That we are willing to pay our nation
al debt in strict compliance with our CON
tracts, whether it was made payable in
| gold or greenbacks, but we are unwilling
/ to do more than that; and we declare that
| the five-twenty bonds are payable in
gEeenbacks or their equivalent; and we
| condemn the policy of the AdmiDistra-
| ton, which is squandeTing millions of
money by buying such bonds at high
rate Of premium when the Government
has the clear right TO redeem them at
par"
| Here is a distinct avowal The lowest
| and f4eblest comprehension is reached by
it. We tell the world that, in our opinion,
the iive-twenty bonds, embracing over
| sixteen hundred millions of the interest
bearing debt are by law payable in
| greenbacks or their equivalent, and we
condemn the administration for squander
ing millions of money by redeeming them
| in gold. That is our position, and our
| construction of the contract between the
| bondholder and the Government In it
there is no equivocatioD, no concealment,
nothing left in doubt or Obscurity. The
| laboring men of all parties there behold
their creed which is to protect them, If
| they are ever protected, from official
robbery. They see at a glance exactly
| what we mean. Now let US turn to the
| other Convention which net there on the
| 22d day of February. What conclusion
| in regard to this most mOmentOuS ques-
| ton did that body reach What is the
law CT the contract for the payment of
| the public debt according to the opinion
of that assemblage! What are the rights
| of the tax payer, in the sight of the Re
| publican leader of Indiana, in his perpet
| ual toll to meet the demands of unlawful
avarice? There IS no meaner chapter in
| tbo r-HC1a history Of Dolitipal deceit
and chicanerys than the answer to
| these questions Immediately brings to
! view. call upon the farmer and the
/ mechanic, the worker for his bread and
the bread of his family, who enjoys no
| special privileges by the legislation Of the
| country, to examine with care, one by
| one, the resolutions of that convention.
| Here were their ablest minds. A distin-
| guisbed Senator, an autOcrat in the coun-
ellis Of bis party, came loudly heralded to
guide, control, and impaTt wisdom. Yet
the voters of Indiana look in vain from
the beginning to the end of the 22d Of
February platform for one single sentence,
one single line, one single word defining
the law for the payment of the national
debt. They will look in vain for the
slightest intimation of opinion as to the
nature of the contract under which the
industry of the nation is bound to pay
fearful and appalling sums of money to
the owners of idle, untaXed capital.
Here is all that was said on that all
absorbing subject:
"III-NATIONAL DEBT.
"That the national debt created in the
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