The Winchester journal. [volume] (Winchester, Ind.) 18??-1920, 1870-07-28


to pay the national debt without cost
ing anybody anything, the Democratic
party may now be put into power Il
relieve the people of all taxation.
have heard something like this before
Some of you have seen advertisement:
i'm the newspapers that if you would
send one dollar To some Post Office box
in New York, or Philadelphia or Bos
ton, you would receive in return q
great secret by which you would be en-.
abled to make large fortune or be,
come suddenly rich. Such advertise
ments are frequently contained in the
newspapers, and greer,h0rns some
times bite at them and send theil
dollars. All such advertisements are
intended for greenhoras, and the game
is what is called confidence game.
Whenever politician comes before
you and tells you he has found out q
way by which the national debt can
be paid without costing any body
anything, remember that it is in
tended for grcenhorns and nobody
else. Laughter and applause The
national debt can only be paid honest
ly, just like your debts can be paid,
and whenever politicians attempt to
gain the confidence of the people, and
to gain their votes, by pretending that
they have found out a way to pay the
national debt without taxation, and
without cost to anybody, it is only a
political cofidence game-that is all.
Now, Mr.. VOORHEES, made q speech
at indianapolis on the Sth of January
last TO the Democratic Convention. In
the course of that speech he declared
himself in favor Of issuing enough new
irredeemable paper money to pay off
the five-twenty bonds. He thought
then there were only fifteen hundred
millions of five-twenty bonds, and he
proposed to issue that many new green
backs to pay them off. He argued
that we were ground down by taxa
tian, but that we could stop all this in-
terest by issuing enough greenbacks
to pay off the fivetwenty bonds.
He did not propose to pay them off
in the greenbacks that were isused be-
fore the bonds were sold, and with
which the bonds were bonght from the
Government, because you can only get
them into the Treasury by taxation,
from which he proposes to relieve the
people entirely; but he would, at an
expense of few thousand dollars for
ink, paper and printing, manufacture
fifteen hundred or two thousand mil
lions of new greenbacks, and pay off
the five-twenty bonds with them. To
show you that do not misrepresent
Mr.. Voorhees, L will quote from his |
speech:
81 am sometimes charged with being |
good at tearing down the plans of 9TH
ers. We have now outstanding 81 ,500,-
100000 of five-twenty bonds, payable |
at the end of five or twenty years,
from the time when issued. The five
years have about expired. They are
TO be paid at any time within the next
fifteen years. My plan is To draw in
500, 900, 900 this year, and 500, 900, 600
next year, and, as ii were, sprinkle ii |
all over the next fifteen years, issuing
to redeem it, thus paying the |
bonded debt in better money than ii |
was bought with"
Mr.. Voorhees, shortly afterward |
made speech in the House, in which |
le spoke about increasing the currency |
% one thousand millions. AS we have |
already seven hundred millions of
National bank currency and green |
packs in circulation, that would only
permit the issue of three hundred mil
ions, which would not pay off the
iebt by twelve or thirteen hundred
Millions of dollars. Mr.. Voorhees,
opinions are so vague that it does not
eem to make any difference to him
the volume of the currency
5 one thousand millions or two thous-
md millions; he jostles from one to
he other with easy indifference.
When he was charged with this in
he made another speech.
BY that time he had found out that
he five-twenty bonds could Dot be
,aid off upon the plan he had advoca-
ed, and he then urged the issue of
fifteen or sixteen hundred millions of
egal tender notes for the payment of
hose bonds. What would be the eff
ect of that? The effect of that would
'e if followed up, first, to swindle our
reditors out of what the government
ives them-out of the money they
oaned the government during the
var, and, next, to swindle the people
y putting into their hands vast body
f currency hardly worth the paper it
) printed on. This was Mr.. Pen
leton's plan in 1867. 1t slaughtered
i'm in the Democratic Convention i'm
S6S as it should slaughter any man
hat is in favor of it. In 1869 when he
,as q candidate for Governor in Ohio,
1r. Pendleton said not word about
his scheme; ne abandoned it entirely, I
ut Mr.. Voorhees, brought it forward 9
gain in 1870. :
But now Mr. Voorhees,, after having [
tated his position in favor of the man. c
facture and issue of this vast volume i
currency, then said the uDkindest a
linp about me that he ever said; and u
lat was, that only year before that a
me had endorsed the same position V
nd stood upon the same ground. {
here is in that statement not one v
ord of truth; on the contrary have v