The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1874-09-30

tAssS securities NltAiu TIE time tlLone1. We
are morally i not legally estopped fron denying
our liza bility 70 pay in gold OF silver. OF Their
been for Eve years past, bought and sold BY men
aud women here and IN Europe. as good bonds On
l. the promise of nation worth nothing? May
IT break its piedgas without dishenorz Are we
tiohs? This Is What the Democratic ', party Void
have the people do: for the policy. mildly
of aareh 1 I open s snd papa
bic; If vas prepared to admit that we might,
without acting in bad faith, repeal this Laws and
pay these bonds in greenbaeks. I should hesitate
to do So H9ald it not De pad economy. TO 50 far
prospect Of redeemins the so bonds praeti-
The history of the greenbaek is a most instruc-
tive one. Ii is an outgTowth of the war. Our
a n Ed was end End we NEEDED money
tainted that we couldn't negotiate loans abroad
ties at prices that wers ruinous to tie nation
LOUIS napoleon was taxing advantage OF our stu
bonds went begging in France. In this. elner-
gency the legal tender note invented. The
er Sa We finally pa. se of thene
notes into circulation. The result was that prices
labor. salaries and everything. In that day. as
YOU remember, 1T took two or three dollars IN
Vow. have It from heh Demoeratio rate aaphor 9tg
that from 1s53 to 1874 the expenditures of the
ernment were about five thousand millions, that
fourteen hundred millions of this sum are at
tributable to the depreciation of our currency;
In other words, II the government had possessed
CON- or its equivalent so as to have avoided
expanded a nd irredeem able issue and the eonse-
quent imitation OF prices. 1T Womb have cost the
people TO carry public affairs. during the eleven
bn 1sI Gs dGar hnnaTeq I'M moas
| OF the amount of the present national debt Ii
ali all the ss'' time. nearly or quite sy Iiz
To- per, cent. for The use of the
now bring the same resuitsT Is it not better
economy for US to pay our bonds in gold. with
promise. than to run the hazard Of again de-
grading end deoauehing our currency by unwise
HeSSeEs the 70 eS i &:
iavorite currency" L aeeert his statement as
currency by avoiding upwise issues. Let us keep
I it so by keeping faith with cur creditors. Good
Of 1859 DO lett Untouched
| This idea of paying off the $40 bonds by new
majority of the Democracy. 1t never has con
sistcntly supported the measure. While profess
1853 it put at the head of its ticket as Is presi
d den Gand5date gentleman who sneered at
Just prior to his nomination. Mr.. Seymour said:
bv spe Of II Womb ~ not 'o r
the people; labor would still be cheated By false
dated by this irredeemabie cnrreney we would
soon be IN the FIX the rebels were during the
for they, in the beginning, when they went to
and took their dinner home in their baskets. but
before the close of i they had to carry their money
| in their baskets and take their dinner home in
their vest pockets.
Mr.. S. s. Cox, III the same campaign, said in a
public speech in Brooklyn: Certainly, for its
payment, would never issue another dollar of
irredeemablc, debaueh1jtng. elastic greenbaek cur
Lawful money t9 D2sm9cratis memory means
not asrpsd UPON It now and they ean neaee
be united upon it. More than half of those
party Indignantly refuse to march under the BAN
n i ct ,repS,i, ation Ny distinguished friend.
cratic Central Committee. and prospective eandi-
date tor, the United States senate. gives the
seems to be for coin currency, pure and simple.
lie Is Democrat Of tie olden time, In his
claimed his hostility to the legal tenders in lam
guage that cannot be misunderstood. He said
Iieve in the legality of the iesaitender clause Of
the law authorizing the issuing of treasury notes
Court. L can not believe that Congress has the
p9%sf to eSi NJ mS Wego out 81
shall pay OF our most sacred obligations in that
which is not. in constitutional sense, money,
and, not only that but insist that shall depre-
eate the currency in the pockets of the people to
But it is said that the capitalists took advantaee
of the wants and necessities of the government
Tor them in deprecated currency, and thatit is
right that we redeem the bonds in the same kind
plead the baby act for nation. win not argue
the question, for those who employ such logic
Our present creditors did not buy the bonds at
tho time nor under the eireums stances stated.
bought them at q premium and paid for them in
gold. They bought them because they had the
would be paid in coin. TIE nation cannot afford
to violate that promise. l admit that the green
for that DEGRADATION. and in the attack it made
against the public credit crime for which there
should be no torglyeness. Tie facts are still fa-
threatened 10 destroy the Republic. navy nav ana
pRd %hss 70
Spa Fg9al lost Mr. Chase devised off
providing the greenbaek currency. Whether
this thn ooI money was authGriEed by
grand stroke Of Policy@it saved the nation .s The
hsora h NOE norg rs
hostilities upon the measure. No wolf in the
western forest was ever more indignantly hunted
down with hound aud horn than was tie green
back. IL was denounced by Seymour IS 4 device
end to turn business pursuits into reckless gsmb-
In congress. Mr. e-ndle.on, the author of the
and securing national intaiay; eenR LINEN ted this
a. Yoa send these notes into the world stamped !
Of Cain. and Ike Gsin hey viii so forth to be
yagahonds ana fUsltYcs on the fare of the earth.
no prophet to tell what win be their history THE
currency will be expanded; prices viii 20 inflated
maishea sh s SAVINGS Of c poor viii panR tie
hoardings Of the widow viii melt away"
cratic orators all over the land. From every
stump the peor fugitive and yagseond green |
back" was ansthem affixed. The Democratic Su-
prem. Courts of Indiana ard Kentucky fulmin- I
ated their Judicial thnnders at them, snd lesser
courts Of that Political persuasion followed suit
These attacks. this UNNECESSARY eianor, and these
judicial holdines created alarm. and many OF our 4
people heSitatsd to touch this currency at all. 4
Setwithstsnding this the exigeneies of the treas
ury forced Congress to increase the issue This /
action of Congress met with the bitter and united
opposition of the present gTeenbaek champions
To quiet tho approximations thus excited By the i
Democracy and to induce the people to credit the I
paper. the government pledged itself. If gov
never exceed tie sum OF sfaoe9.t1o. Ana
this limit was fixed by the yery act !
that created the so bonds. Here again we have I
an uaanswershle reason why thee bonds should l
nos be paid with issue. If put moro
rhar,