Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-10-15
WENDELL PHILLIPS AGAIN
OH!y One Argumeut-The Dishonesty
and EXtOrtiOn of a Law Compel
ing Specie Payments.

Boston, October u.-Wendell Phil
lips viii publish III the Boston Herald to-mor-
row the following in reply to Mr.. Schurz' 5
laSt remarks:
To the Editor OF the Boston Herald:
MI SchuIZ says nothing at st. Louis that
needs or deserves notice. Abuse of me is not
argument, and whether tI1Ie or false is OF no
consequence to the American people. His
facts have no bottom to rest Gn. He inVeuts
them TO meet a difficulty. Mi. Carey's argu
manJ that during the war the amount OF our
currency did not cause The variation in gold"
wholly demolished his theory Of imitation.
lie tries to escape by affirming that these va
riations in gold were caused by mems doubts
of the nation willingness or abiilty TO pay
It's debts; but TINS pretenSe will not SerVr; 1868
ard is 4 were our most despondent years, yet
the price of gold in 1868 and the opening of
1864 averaged about the same as in 1866 and
1865, when peace ana victory had long settled
all such doubts. Again, If such doubts during
The war depIeCiatsd our greenOacks, they
would of course have also deprecated our
bonds and MADE them vary constantly. Yet
our 1881 bonds steadily rose from 1862 to 1865.
OF course such doubts had their influence, but
not enough to to1ch the hem OF MI Carey's
garment. such haSty Inventions make what
the senator calls 'facts' and practical states.
manshtp." But this discussion in Ohio is
deeper than words. Three quarters of this
nation are borrowers. Only one
quarter are lenders. y law cOmpeE
ing specie payments is simply the
lenders rODbing the borrowers. The specie
men parade themselves as The party OF pub
lie honesty" Look at il! The man who bor-
rOWed one hundred dollars last month must,
II lhe law forces resumption, pay one hun
dred and seventeen dollars to settle his debt.
Thus the capitalist rObS his debtor by asking
the government for such a law. Let specie
resumption come in the resGiar course o.
business and II is honest. Force it by law,
and 1t IS only trick by which wealth adds
One-SiXth to every poo mans debt. Govern
ment has q right to interfere between debtor
and creditor, IN the emergency of war, to save
the tate. This justtnes our legal tender law.
Government has no right to change the rela-
JtOnS of creditor and debtor in such lime of
peace as this. Laws compelling resumption
are the basest injustic-the most cruel Oppres-
sion and wholesale robbery. Let US hear no
more of such mems talk OF public honesty.
TEey are the dishonest party, stealing under
preteXt OF law, their neighbOrs goods. This
party of the money men Swindled the people
when they increased the load of the debt by
making our bonds, which had been sold to be
paid in paper, payable in gold. They swindied
us a second time when they broke the pledge,
and forbade gTeenbacks 10 be redeemable in
hve-twenty bonds. they will swindIe a
third time if they force man who yesterday
borrowed one hundred dollars to pay one
hundred and seventeen dollars to settle his
debt. Measure, If you can, the impudence OF
such party, the PecksniffS or politics, with
their hands in their neig ghbOrs pockets, and
boring their victims all the while with ever
lasting chatter about public honesty"
WENDE PHILLIPS.