New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-21

it remembered that imitation ends In repudia-
ton as surely az the rivers end in the sea-
Our purpose is not to show that it is rascally
for q man to sneak out of obligations which
he assumed with his eyes open and is amply
able to live up to, but to point on. that
Messrs. Allen, Pendleton, Ewing, Cary, and
the rest of them, have openly declared them
selves hostile to the honor and welfare OF the
ration. Let us take first Mr. Pendleton. lie
calls the platform, which We examined on
Saturday, "a wise and sound declaration OF
"principles,r and says that "every principle
"aIrl policy announced is just and true, and
off carried into practice would cOnduce to the
best interests of the community" "Contrac-
tom he loudly tells his audience, "has de-
"stroyed the industries of the country" Mr..
Pendleton, by education and by the gifts OF
nature, is capable of distinguishing true ar
g,lment from sOphistry which would be
detected by college freshman, yet he actually
has the hardihood to utter the following con-
sccutiye sentences as proof that contraction OF
the currency is running the country, and that
reputation is our only salvation:
This whole policy is wrong The contraction Of the
currency, the exemption Of bonis from taxation the
collection OF the customs gold the Gold bill Of 1862
the National bank system have produced their necessary
result They have destroyed all business, and yet we
are that money is too plenty because 1t aecunulates
ia New York and finds no occupation.
Ayel Ii accumulates because Ii Is not used 1t ia not
used because there Ia business. One hundred years
ago Spain had scarcely any money and yet the rate Of
interest in Madrid was lower than in Amsterdam, and
Holland the richest country i'll Europe Spain had
no business in which TO use its little money Holland
kept every dollar of her vast forever active
Passing over the obvious misstatement, that
there is "nO business" doing, how can it be
maintained that there is no business because
there is scarcely any money, while at the same
time it is asserted that there is an excess OF
money because there is not sufficient business
TO employ what money we havei The latter
is plainly the true state of the case, while the
hue and cry recently raised against contraction
is pure claptrap. Mr.. Pendleton knows, fur
thermore, that at the time of which he speaks
Spain had exhausted every resource of dcs-
potic power to give her people "plenty of
money" even to prohibiting under pain of
death the expectation of the gold and silver
which she received from Mexico and Peru,
aud he knows also that Holland at that time
tolerated no paper money except the notes OF
tbe famous Bank of Amsterdam, issued
dollar against dollar for specie and ugidly
limited to the quantity of specie left on de-
post.
There arc rumOrs that Gov. Allen and Scna-
tor Thurman are in favor of honest money,
but assrrcdly their courage in the presence OF
the great high priest Of reputation vanished
like the Apostle Peters. Gen. Cary, the
candidate for Leutenant-G0yernor, whom,
as The Enquirer tells us, it has been common
thing in Ohio "to deride and denounce as
" demagogue,' naturally took in the platform.
hook, line, and sinker. When we consider that
these principles, as Mr.. Pendlcton calls them,
are deadly poison to the most vital
elements of modern civilization, and to
nearly everything which distinguishes So
cicty in the Barbary States from. So
ciety as it exists in England and the
United States, we cannot doubt that tie people
of Ohio will let Mr.. Pendleton and his follow
ers know once for all, that common honesty,
in their estimation, ought not to be abolished
in that important part of human affairs which
is covered by pccuniary engagements.