National Republican., 1875-09-11
rurpE CANNOT RE AMY pouRr
THE OHIO CAMPAIGN.
General Stewart L. woodford on Resu,


dressed :be people of the manufacturing CON-
munity Of youngstown. Ohio. The following ex-
tract will show how he met some Of the sophistries
Of the late Judge VIM. D. Kelley, who recently
addressed the same people:
Here is o ive-dolIar gold piece, coined in
nation. Here Is a grsenbsck, printed in 1875,
whereon the United States promises to pay i've
dollars The gold piece is . fact. It is money,
hard, substantial money the world over. This
Union might dissolve. The United States, whose
name and stamp this coin bears, might pass
away, and yet this gold would have actual,
tangible. convertible value in London and China
alike. For all the world, except possibly some
isolated savage tribe, has made and recognized
ure Of exchange.
The paper greenback is q promise, that and
nothing more. A promise may be much, may be
The value Of q promise depends on two things.
These are ability and good faith. One may be
unable to perform. It would p be unsafe to y reiyy
upon his promise. II you had his note and moth
ing else as means to meet and pay your own due
your own would be protested. One may be
clearly able TO keep bis word and yet be evil
ment. IL would be unsafe to plscs absolute % tait6
In him. When payday comes he will certainly
put you to all possible delay s, and, II he can md
any loop hole to defeat your claim, will deny and
then repudiste his word. Just In proportion to
ABILITY AND GOOD FAITH COMBINED
= is the value Of g promise. When both are sbso-
lutte, your faith in the promise becomes absolute.
Such Q promise isworth as much as the accom-
plished fact. Hence We say Of some men: Their
simple word is as good as any bond" Hence q
Bank Of England note is worth to-day, at any
commercial centre in the world, just al much as
that the bank has gold to pay for its notes, and
is ready to pay that gold whenever these notes
England note will buy just as much as the gold
coin It represents. This hye-dollar greenbacK
will not, however, buy as much as this hye-dollar
gold-pece.
THE DIFFERENCE ON EACH DOLLAR
is to-day about fourteen cents; on the five dollars
It amounts to seventy cents. Quite perceptibIe
difference. The gold piece will buy as much as
tne ssd na VeHy osns S SSGGal S sn
dollar and each greenback dollar represents lust
when the United States can and viii pay q gold
dollar on demand for each greenback dollar II
the Government both could and would make such
payment to day, you would be just IS willing to
have the greenbsck as the coin. The greenback
would buy as much as the coin. The greenback
would be, in commercial language, at par with
The present differences between the two we all
see and feel. 1t represents, as have said,
THE GENERAL DOUBT AND MsTRUsT
Of the people. Whence does this doubt spring2
has not he rod M 70
deem or fulfill in coin Its paper promises, which
we call greenbacks. Partly from the fact that we
diate and effective steps to prepare with absolute
certainty for such redemption, or as is popularity
said, resumption. But mainly from the fact that
o considerable portion Of our people not only dis
courage and oppose anything that looks Ike an
honest fulhllment or payment Of the national
promises to pay already issued, but while seeking
to evade these, actually
CLAMoR AND BEG FOR MORE.
Quiet thoughtful men naturally ask whether, II
the Government cannot or does not pay Its prom
ises already given, It's ability and disposition to
PnE PpnEspt plOnsss The doubt involved K this
question Is measured to-day by what we call the
premium on gold. It Is fourteen dollars on each
one hundred dollars. It's fourteen cents on each
dollar.
And here let me pause one moment for an ex-
PLANTATION that simple justice requires.
baIs ' msDsionsd sne tSst he Goyeqpment Is not
taking immediate and effective steps to prepare
with absolute certainty for such redemption, or
In popular phrase, resumption.
JUSTICE TO TEE ADMINISTRATION
requires me to add that the President has fstth-
fully sought such preparation, and has been
purpose to full MI the nations promise, and 50
prseticabis day His brave denial when the
merchants Of New York pleaded with him for
violation Of the law in IS1S bis stu Drsvsr veto
dykes beyond which the tides Of imitation could
not pass. His surely was the voice that firmly
His His the hand that kept the helm steady when
we were almost among the breakers and on the
lee Shore so that the ship Of our credit Is day
sumption, and at the masthead floats the flag
bearing these words; "H0ns'fy' good fatta and
But one suggests that this matter Of further In
fstion on the one hand or resolute decision to
prepare for resumption On the other
IL NOT A QUESTION. OF HONESTY,
but Of simple business expediency. 1s this sof
This greenback bears these words, printed here
by your Government and NINE: "The United
States will pay the bearer ave dollars" These
are words 90 direct and simple that none can mis-
promise Of this great nation to pay dollars There
Is no pretense on this piece Of paper that It, the
paper, is the dollar. 1t 10 only, as it only
so %s. e. e shas ssss this
promises to payf Is Il ANOTHER piece Of paPerf
T IN ns asda q ss s Pspsi
"a few cents per pound. Its value is In the
promise printed on it. The value Of that promise
to keep tbs promise. When kept this paper Is as
Rood as gold. When broken the printed bill Will
Be worth less than the imprinted ;heet; dne ink
as gold.
THE INK THAT MEANS LIE ~ a 4
VIII have soiled the paper. When all shall know
that II is lie, the paper Will have no vsue save
.ssss.d .Ss.ts ssrcPn opn s. Ss again %sd
then is doiiarf It u something back OF the
paper promise which the United States promise
b
what Is dollar. 1t Is coin weighing twenty
Ave and eight tenth grains Of standard gold.
This coin 10 the dollar which the Government
promises to pay. 1t is, therefore, matter Of d.
rect, square, deliberate promise or pledge, The
solemn word Of the United States has been given
nrst TO its soldiers and then to every one who has
received these bills by transfer or exchange-to
pay the bearers Of these bills -rrfrr5 u-5T
ACTUAL poILARs, HONEST DOLLARS, GOLD DOL
LARs.
Is II then o question Of honesty or expediercy
whether we will keep this promise or mott 4
grant you there may be . question OF ability 70
pay. There should be none Of intention. An
honest man may BY misfortune be unable 70 pay
his honest debts, but II he would reuiain honest
he must not deny his promise nor yet delay nor
shfrk Its fulhllment one hour beyond the day
when he becomes able to pay. meanwhile No
must faithfully try to get In debt no deeper.
As 10 the ultimate ability Of this great nation
TO pay its debts, shall not insult either your IN
teliigence or patriotism by prolonged discussion
aEE our HILLS ARE RlBBxD WITH COAL.
Our mountains veined with gold and silver, and
with iron, far more precious than either. Our
forests are vast Our cotton fields, Germ fields,
wheat fields, and grass lands are almost literally
without limit. Great lskes are on our northern
border Oceans and gulfs on either side. Mighty