The interior journal. [volume] (Stanford, Ky.) 1872-1881, 1872-08-09
SPECIE PAYMENT.

2 ment would inevitably result in bank.
J. ruptcy to the country and to individuals.
. Hence, we are now, and have been since
the war, opposed TO H. In this opposi
ton, we do not take issue with our own,
or the Liberal party. II would matter
not, however, IL these parties did diff; =
from our view; for we intend IN he indie
pendent enough to oppose what We con.
ccive to be wrong and impolitic, regard.
less II party dictation. The Liberal.
Democratic platform SAYS on this subject :
"a speedy return 20 specie payments
is demanded alike by the highest consid.
erations Of commercial morality and
honest government"
This is all that the platform says on
that subject. We do not controvert the
fact bu, how speedily that return"
should be. is question which no man.
however f,r-seeing, is capable Of Judging.
What does the platform mean BY this
plank Simply that return to specie
payments should be made at the earliest
practicable day, and not Immediately, rs
the Radical papers and speakers have al
legged. Hon. Stanly Matthews, of Gin
cinnati, Grant orator, says Greeley is
in favor Of an immediate return. Mr..
Matthews has no authority for this
charge except the sentiment Of the Lib
eral platform as set forth in the plank
referred to. Mr.. Greeley and the Lib
eral and Democratic parties too, are not
such idiots as to fail to see that an in,me-
didte return to specie payments, under
existing circumstances, would inevitably |
work national disaster and individual
bankruptcy and ruin. But let us ask
in what respect do the Liberal-Demo-
cratic parties differ from the Republican
party on this question: The fact is they
do not differ at all for we find that in
the latter clause of the 18th plank of the
Republican platform, the following words
occur:
1--WE confdentially expect that our
excellent national currency will be per-
fected by the speedy return to specie pay
ment"
Now, according to the logic of Stanley
Matthews aforesaid, his own party are in
favor Of immediate resumption; else why
do they proclaim to the country through
their party platform, that they conf 4
IDENTIFY anticipate a speedy return to {
specie payment on account of the sex $
cellency of our national currency?" The
Fact is, we all desire to see the day speed I
ly come, when gold and silver will he
ihe only legal tender; but no American
,itizen, we trust, is so fool-hardy as to
iesire that the law should be forced upon
he country in times like the present, or
IT any other time before the government :
md the people are ready for it, To force 8
{ upon people who have made contracts n
lnder existing laws, and thus compel O
hem to pay debts in gold and silver =
Thich they expected to liquidate in ma u
Unal currency" or legal tender paper a
money, would be an "impairing. of the Il
.-TS5hfracts'Sasssz2t facto Il
w;-uHd rdinous to obligors. HsF---~4 X
We are told that in some of the States q
nd Territories gold and silver are the :,
My kinds of money in circulation, and a
hat the people there do not suffer evil a,
onsequences. What of thatY Of course q,
hese persons contracted and contract, 90
moving just what to expect, and their 81
tuation is not at all similar to those in III
tates where gold and silver are not in 10
regulation, but kept in banks and brok- ri
rs Offices as things of commerce or traffic. nj
If you buy horse to-day for $500 s.
scouting your note for him three months W,
Ter date, and, meantime, specie pay So
ent is resumed-made law of the land IN,
~ are sued at the maturity of the note ID,
500, gold or silver, and made to pay wi
one or the other of these kinds of coin: 10,
'ould such law be equitable, just, or 10
nstitutionaly We think not. How wl
en-, you ask, are we ever to resume wo
ecie payment with safety to the people,
d without violating the constitution?
isy enough. When we shall have de-
mined to resume, let the law be made be,
plicable to future obligations only pr,
yer to those which exist at the time ma
our thinking, this is the only just and DO.
Dper plan. If any one knows of a VIII
tier way, then We should like to hear AN,
m him. res