Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1874-07-02
The Chicago Inter Ocean says

The Chicago Inter Ocean says
The resolution regarding the cur
rency, adopted by the Iowa Anti-Mo-
opoly Convention, is : curiosity In its
way. Itdisplays more abject cowar-
dice than we thought it possible for
any body of men to entertain; while
the absolute ignorance shown Of the
history and the present situation Of
the country is astounding. Let us
take it in pieces. The first part reads
as follows:
"That the faith and credit OF the ma
ton must. be maintained inviolate !;
that the public debt, of whatever kind
should be paid In strict accordance
with the law under which it was con-
tracted."
Either this langnsge is q trick Of
some pronounced r ,ndlctonian repudi
ationist, or else the convention deserve q
leather medal for being the most guilt.
less, innocent, and childMke body OF
politicians in Christendom. That the
majority thought themselves pro-
nouncing strongly against reputation
however, 10 evident from the contest.
What some Of these innocent souls
may think when they discover that
they have adopted almost the precise
language of every reputation plat.
form that has been formed, we shail
not attempt to say. The National Re-
publican Convention Of 1872 found II
necessary to adopt the following:
National honor requires the payment
of the public indebtedness in the ut.
most good faith to all creditors ct
home and abroad, not only according
10 the letter bSt TIE spiyJt Of the loscs
ssnder schich 1t scas contracted"
The Iowa convention, however, pro.
poses:to pay in "striCt accordance with
the law" which repudiationists every
whore contend means, In grcenbacks,
or whatever may at the time be the
lawful money Of the country. In view
Of this, the next paragraph sounds
strangely enough:
"That an over-issue OF paper money
being at variance with tho principles
Of . sound financial policy, the circu.
lating medium should BE- based upon
its redemption ia specie ct the earliest
practicable day" g
We do NOT know, 10 be sure, what
the the Iowa Independents regard a
nm over.issus Of paper money! but II
strikes Us, that when the six
or seven hundred millions OF bonds.
which are not by their terms made
payable In coin, shail be paid In
ssstrict accordance with the Law" there
may possibiy b what might be rea-
reasonably called ~ .sover-issue OF
paper money" bat immedistely af-
ter follows I, demand that this issue
shall s'be convcrtable into specie q
| she will Of the holder" This % followed
i'm nedfately BY . demand that ''the
volume Of currency shall at eli times
10 adequate to che general business
md oonsinerco of tho country, and be
eVuitably dlstribntsd among the sew
cfnl States" Now, when any green
back 10 exchangeable, dollar for dol.
lar, In gold, how ere they going to
make the volume OF currency any
more adequate TO the wants Of busl.
ness than the amount or specie will
aliowf Tits not what this necessity
Of the country demands, but what the
coin IL our vaults permits, that must
govern the quantity Of currency In
exietence. DO the wiss men who
framed this plank know what the
amount Of specie In the country 10,
and what It has been? II u presum.
ed they do not, or they never w.uld
have given utterance 10 such su,
premly ridicuously idea. And the
currency thus placed upon specie
basis 10 70 be "equltabiys Distributed
among the several States" We shall
not attempt TO anaiyee thfs brilliant
and ia eyey way fitting termination q
snch ! gorgeous array Of wisdom. II
ID too much for us. One thing is ap.
parent: the Independent ststesmen Of
Iowa haye talents which have been too
long held In reserve, aud the benefits
Of which have been too long denied
their countrymen. We are glad they
have ct last opened their mouths and
made this Obscure financial question
plain. The country has suffered
from the silence Of suck Soions, and
will feel easier 49, that they have