The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1870-09-22
:. wH55la wHH5o5Ilan No.s1os, 2.

bonds according to the contract, and
the republican, candidates stood upon
heplatfofm OF paying bloated spec
ulators twice the amount which we
agreedlto pay them, then 1 would vote
for Frank Blair, even if a worse man
than seymour headed the ticket.na sb'
Such isrthes emphatic language of
llthe author of the law, and a. bitter
partizan, yet aInan' who would rather
abandon a party than aid in pefpetra-
ting a swihdfe so gigantic and dmon-
,strous.i I Stevens died shortly after
this, aud the monied aristocracy took
entirescontrol of his old party. "a Gem
eral Grantwaselected and inaugurated
!, President, and, true to- the leaders of
the party, he avowed in hisinaagural
message that gold payment on these
bonds was a aucardiHals measure Ief his
eadnainistratiohs The 'bonthol ders and
!, National Bankerswere largely rein.
forced in the Fofty-first Congress, and
i without delay; passed q resolution
that ailithe bondSofi 1.-THE Government
bshonl6sbe paidli gold; and President
EGrant 1signalizede his administration
fby selectipg this as ,ithe first actS to
which he ;gaYe,shis royal assent.idasii :
i .Weheartilyf endorse the views OF
FStegens and other republican leaders
/ at that time on this subject; t;pand we
have, not changed our ground. We
i bfurtherid denyIthe binding force of that
/ resolution, and propose to go behind
dits treating it asia snullitg, as assmefe
lexpressionb of otheI, discrimination of
the bondhelders', ring,uaIt isanow
hclaimed that the Taxpayers must sub
'brnit toiigold payment whether they
Hike it OF, not By Weibsettled princi-
pples of law these bonds, areite ibe,in-
Eterpreted accordingito the lsw,sander
which they were issued, and me SUBJ
tsequent legislation can change the OBJ
fligations. of the original contract.
The passage, of that resolutions .to
strengthen the public credit and its
approval by the. .Presidensi has no
more binding force than if passed at
a republican mass meetings composed
sof, g. like number lIefs bankers land
bondholders.s Its an expressionaof
opinion which q subsequent Congress
may and will rescind at the demand
of the outraged Taxpayers of4.the
country. In pursuance, of the same
scheme of.plunder, and. to make effect
i've the action Of the Forty -tirst yCon=
gress, the Secretary ofithe Treasury
proceeds at once to. buy in,sbonds,at a
iiarge premium that We're redeemable
at par, The epnlyy fair and honest
course was to give notice to the hold
lsers of bonds of, q certain date and is-
sue to present them, ut the Treasury
1tor; redemption, under the penalty ot
losing the interest after a day named.
When presented under such notice he
should have paid them in greenbaeks
at their face, with the. Interest. in gold.
This policy would haye cancelled many
millions of the debt, and relieved tax
payers of a burden. 1t is conceded
that the holders of the bonds would
mot have realized SO large q specula-I
l,tion, aud that they would not be- SO
nearly at par with, gold, 1but we per-
haps. impudently, assert that thosewhoI
have the bonds to pay have rightssand.
Interests to be- consulted and cared,
for as well as those;a whos9hold
these evidences > of Indebtedness
T b q on liydh h ono rabl es.w a.y
to strengthen the credit. Of individ-
Euals, or States is to pay their HON.
est debts, according to the contract.
Party leaders and partisan1 presses
talk much about the, nations honor,
and tender their services as the special
guardians of this, .commodity.ails su
2 ,,ioi4 q stRERgDIATIoN.d bsaietata
The mad dog cry of reputation is
kraised against these whoiquestion the
bondholders' policy. earnestly con.
tend for the integrity poE the nation,
and wopld consider ano sacrifice atoe
great to maintainitsh honor.k The hon.
Tor of the American people will be
best yindicated by a strict compliance
with the law, anditheir greatest dis
grace will be to tamely submit to a
dishonest and 'extortionate demand
ions the part of their creditors. wheth.
seri domestic or foreign.o Ifholding to
the letter and spirit of the law, and
thus maintaining the rights of ataxl
payers is repudiation, place my name
on that honorable list. If the five
twenty bonds may be redeemed in
legal tender moneys the people wiflll
-show,a craven and cowardly spirit to
yield to.the demand for gold. .sTE Ap5I
plause. ]ztd aaB a2sIu8a, sldelimoi
There are many in the republican
party no admitlthe outrage inflicted |
upon the people by their leaders, who |
by the way OF apology, say it makes
but little difference 6now3 as green,
backs and gold and bonds are, nearly
alike. 70 bring about this result, the
Secretaryorofl the Treasury bought |
bonds as.alprioel largely above their
face, having paid,sas high, as twelve
hundred dollars in agreenbacks for a.
bond of one thousand.adW We have had !
abundantIcrops and they have had
short crops in Europe, making our ex.
ports exceed, our imports, thus brings
ing gold into sthe country to settle
balances. u With all our crops and the
prices obtained forthem, the product
i've industries of the,V country are
prostrated-bled to death by taxation.
there is not money enough in tn,
country to transact its business, and
..x,>,k 4l,ors &c TpAc ifc NOV sntn fbo I