Oregon Republican. [volume] (Dallas, Or.) 1870-1872, 1870-04-23
ocratic ranks willsskeep step" with the
national party along the line marked
out by pendleton.


The Salem Press thinks that the
equitable adjustment clause in the 9Th
resolution in the Albany platform is
vague, equivocal and indefinite, and
we arc confident that it could have
been much improved if the Conven-
tion had considered it with somewhat
less haste and better temper. That
paper wants to throw the whole resolu-
tion aside, and take in its stead the
platform of two years ago.
The Commercial asks why, If the
Convention meant what is claimed by
the Press, they did not adopt that plat
form
The Albany Democrat is also kick
ing over the platform adopted by its
party. Here is what it says of repudi-
alton and its effects:
Is il not the business Of the Govern
ment OF the United States to inquire
who bought greenbacks, or at what fig,
ure, or for what purpose? If an indi-
vidnal was fortunate enough to bug for
500 a quantity of legal tenders,
which, subsequently invested in bonds,
became worth S 900, government has
no more rigat TO deprive him Of the
benefits Of his transaction than if that
transaction had been in dry goods or
raal estate. The transaction between
the Government aud the purchaser OF
bonds was perfectly fair one upon
both sides, and there is no law aud no
equity that will at this late day attempt
to violate or evade the terms Of the
contract We insist that if the illog
ical aud unreasoning rule laid down IN
the paragraph quoted is to be adopted
that it be carried to lis fullest length
We shall then not only ask where the
hondholder Got the greenbacks with
which he bought the bond, bur when
and how be got the gold with which
he bought the greenbacks
\ government that would thus spec
uIale in the depreciation of It's own
currency is not likely to inspire the
world with much confidence. \ gov
ernpent that would thus detraud its
creditors and dishonor itself would in !.
evitahly survive the respect Of honor.
ble men and yet not survive above q
few generations.
Going farther than the above quo
ted authority, we say there never shall
be any law or equity to violate the
terms Of the contract. That paper had
better strike out the word DEMOCRAT"
from its title at once, and insert one
that more correctly reflects the scnti
meats of its editor.
The Oregoaiaa thus digs the Herald
upon It's financial policy:
The Herald complains because the
Republican party did not borrow mon
ey for the war on better terms. Let
the Democratic party get control Of the
Government aud carry ont the PROPOSE.
ton of the Albany platform, and it
could never obtain loan on any terms
whatever. The credit Of tho Govern
4nent would be utterly ruined aud
deprived OF the means of raising mon
ey for the emergencies Of war, the
country would be completely di@armed
and at the mercy both of internal aud
foreign foes.
The same paper says:
We have paid during the past year
about ninety million dollars of our ma.
tional debt. Bonds amounting to this
sum have been purchased by the Gov>
ernment and placed in the sinking
fund, where the interest is paid regu>
larly upon them, which interest is in
turn used for the purchase of more
bonds. If we continue this operation
at the same rate as now We shall Who'll
~ cxtinguish the debt in ten and a hoit
gears But no doubt it will be thought
advisable to reduce the taxes still fur
ther and not pay the debt so rapidly.
In this case we shall be few more
years about it; but the child is now
born who will see the whole debt paid
off before he attains his majority.
The Otegonian, speaking of Demo
cratic repudiatiop, says:
| matters not that Oregon, when
compared with the great States, con
tains but a small population; if Ore.
eon approves this doctrine it goes
abroad that one Of the States on the
American Union bas voted to repudi.
ate the national debt. Whether this
TACT would disturb tho national crcdi,
or not, it would at least give our State
a disgraceful notoriety everywhere, anc
this is something we cannot afford
Democrats recognize this when the,
protest that they are not regulators
and they whoa short time ago led of
IN praise of the reputation resolution
now confess that it is odious, by ever,
4 II