The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-06-15
JOHNSON AND PENDLETON ON RRPU.
DIATION. ..a
rom the Clepeland Leader.

From the Cleveland Leader.
Andrew johnson is not disposed to let PEN
dleton, Vallandigham, and the Ohio Demo
cracy have a monopoly of dishonest PROPOSE
tions for disposing of the public debt. The
ex-accidental President has put in q bid for
Democratic favor in proposition for repudia-
tion which puts the Pendletonian greenback
scheme quite in the background. The prin-
ciple of dishonesty is the same in both, but
the method of johnson is SO superior in bold
and dashing villainy to that of Pendleton as
to distance all competition. The scheme of
Pendleton assumes the mask of legality to
cover the cheat of reputation. But the
scheme of johnson scorns to ''whip the devil
round the stump" in the careful style of Pen
dleton, and strikes straight at the major vii
lainy by proposing to compel the public
creditors to accept the annual interest as so
much payment on the principal of their bonds.
Pendleton proposes to pay the interest ON the
Five-twenty bonds in gold, but the principal
in greenbacks; johnson proposes not to pay
the interest at all, but to apply the amount of
interest paid directly to the liquidation of the
debt. And the Pendleton scheme is limited
to the five-twenty bonds; while that of John
son sweepingly includes the entire public
debt. The swindle of the Pendleton plan
consists in forcing the public creditors to
accept promise to pay, drawing no inte-
rest, in lieu of ''promiss to pay" drawing
six per cent. interest, contrary to
the intention and understanding of the
bond. The swindle of the John
son proposition amounts to an in
Simultaneous and final reputation of the
total interest on the public debt, in utter de-
fance alike of law, decency, and the public
welfare But the merit claimed for the plan
of Penaleton-that it will the quicker extin-
guish the public debt, with lighter burdens of
taxation-pleads far more strongly in behalf
of Johnson's proposition. The direct saving
of the latter would be far greater, while the
moral difference is simply that between fraud
and robbery; and of the two, the highwayman
ranks as more honorable rascal than the
thief.
The motive which instigates the hostility
of these representative Democratic spokes-
men to the full and honest payment of the
Federal debt, is, in both, antipathy toward
the cause in which that debt was created and
to the party which has SO far squarely met
the nations pledges to its creditors The
Pendleton Democrats used to hold that the
public debt could never be paid-the wish
being father to the thought. But the Re-
publican party, having paid nearly half bill
lion of the debt within six years, has silenced
that party slander on the nations faith aud
credit, SO that the Democracy, as party, nc
longer dare defy the public conscience witt
open schemes of Reputation. And yet the
genius of the party still finds vent through
sueh irresponsibles vet applauded represents
tives of its sentiment as Andrew Johnson
who promises to play for the
Democratic theory of repudiatioI
the part of volunteer expositor
after the manner in which jeff. Davis hai
done like service for the Democratic theor,
of secession. Mr.. johnson lays down broaC
premise for rePudiation in assuming that sac