The daily gazette., 1875-09-24
Governor Allen Proposes Repu-
diQtfOu.

taKe up the ray money imitation heresy
OF the foul-mouthed lunatics of the
Cincinnati Enquirer. 1t was but
step In advance to approve the "pay-
ment' OF United States bonds in green
backs. The following is the 1ri6une's
report of an interview with this gray.
haired repudiator;
Correspondent-Supposing that you
are successful in the country, Is it
proposed to pay the bonds in green
backs?
Governor Allen-The bondholders
are their own worst enemies they
are continually forcing such issues as
the payment in gold, and insisting ON
the danger Of reputation SO as to
get hold upon Congress and have
legislation shaped to serve their own
ends.
Q. Do you think the bonds will be
paid in creenbacks?
Governor Allen-Of course, much
OF our future action will depend
upon circumstances as we then find
them.
9. Do you think the payment of the
gold bonds in greenbacks would be
repudiationY
Governor Allen-Repudiation of an
act of Congress, certainly,
+. Wouldlyou call such reputation
, an act of bad faithS
Governor Allen-There was no good
iaith In the passage by Congress OF the
| act of 1860.
@. Well, II that act was not an act
OF good faith, would it be bad faith to
repeal itS
Governor Allen-No.
q. Well, Governor, what Is your
IDEA about issuing more greenbackss ?
Is there to be limit to itP In other
I words, do you think greenbacks can be
| useo as the permanent currency and
the measure of value?
| Governor Allen-I know no better
curIeacy or measure of value than the
dollar based upon the credit aud the
properly of this great nation.
u. Then do you agree with the Penn
syiVania Democratic platform with
reference to the nature and definition
of the dollarr
Governor Allen-Yes, yes.
Governor Allen thus abandons tho
| company OF George FL. Pendleton and
governor Hendricks, who have united
10 oenounce the repudiating PROPOSE.
ton when itapplied to that small portion
OF the bonds called the fve-twenties.
II Is certain that those two influential
democrats will denounce with still
greater earnestness Governor Aliens
proposition to pay" all the bonded
oebt OF the United States with green
backs.
AS to the dve-twenty bonds there
were many honest men like Mr.. PEN
dieton and Judge Ranney, of Ohio.
governor Hendricks, of Indiana, and
Chief Justice Church, of New York,
who believed that until the act of
March 18th, 1859. had been passed
their payment in greenbacks was law
ful. Senators John Sherman, Of Ohio,
and Morton, of Indiana, were notori.
ously OF the same opinion,
But when the act of March 1s, 1869
was passed, declaring that "the faith
OF the nited States is solemnly pledged
to the payment in coin or its equiva-
lent Of all the interest bearing
obligations of the United States" It
was at once recognized that new ele.
| ment had been imported into the con.
I tract OF the Government with its cred
itors, and that what they deemed to be
the obligation of the law heretofore
was less than the enlarged obligation
of the law thereafter.
Mr.. Pendleton, for example, said in
his speech at Columbus, O., in 1874
while disappearing the act of 1859,
which we have quoted: Nevertheless,
1t is the law, and we must obey it. The
terms of the law have now entered in
the contract and must be complied
with. The bonds have changed hands
and the present owners are innocent.
The bonds have been retained on the
faith of that law and we must sustain
our "country's plighted faith. We a6.
nor repudiatIon;' sce refuse to break The
contract"
! Governor Hendricks in his speech
Of Sept. Is, the same year, threw over
board Dan Vorchies' laundering Indi.
ana platform and took the same posi-.
tion. He said: 81 have no donbt the
laws admit ted that construction [ths
payment of the five-twenties In green
backsl; that 1t was the proper con-
strucuon. I think 10 subsequent leg
islature should have changed the ed.
of payment. But by the first act which
President Gre It signed in 1869 tho Jait1
and honor Of tho country ars pledged {.
the payment in gold. Their acts
within the sphere Of their power bind
the people,"
Itthis be the position which honest
men must take with respect to the
payment of the only bonds that any.
body ever dreamed could be paid ir
greenbacks much more:.is it the posi-
tion which Governor Hendricks, Geo
A. Pendleton and every other honest
Democrat must take with respect e
the great mass of our bonded deb
explicitly made payable in gold. N
Y. World.