The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-21
RADICAL REPUTATION.
Don PIATTs HISTORY OF THE REsoI UTIoN PLEDG-
ING PAYMENT OF BONDS IN GOLD.
Washington Capital. !

| Washington Capital
The sin of the Republican party, for which
it deserves death, was in the resolution passed
Congress, that pledged the Government to
the payment Of the bonds in gold. Had the
greenbacks been at par the bondholders would
not of course have objected to receiving them
in payment of the deut. The resolution, got
ten up by unprincipled and greedy stockjob-
bers, deprecated, by act OF Congress, our
currency. The Government, while pledging
itself against one form of reputation, openly
practiced another.
That the passage of the resolution binding
the government to a payment in gold was
premeditated Wall street design to depreciate
the currency and augment the value of the
bonds, we have the very best evidence. We
were sitting in the committee room of the
District of Columbia, penning a letter to the
Cincinnati Commercial, when a gentleman
we'll known to the world of stock gamblers
came in. We had lamented in his presence, a
few days before, our ill-luck in not being able
to speculate in stocks, as we saw others doing,
and realize handsomely from such specula-
tons, as several Of cur brother pen-drivers
had done.
Our friend now came to us to say that he
had an opening through which good thing
might be secured. Aud when this opening
came to be explained, it appeared in q reso-
ton, carefully prepared, that had been placed
in the hands Of the chairman of the Commit
tee of Ways and Means, to be offered on the
first opportunity, that pledged the Govern.
ment to payment OF the bonds in gold.
''This, he said, twill send the bonds up
to par, and then if we can manage to make
the Government anticipate some of its in
debtedness the bondholders will realize enor-
mously. Don't you see? Nows your chance
come in with US. A little carried for you
will make you independent"
"But," We said, how are you to pass it
We all know that it never was intended to
make such q distinction in favor of these
bonds. They were bought with greenbacks
for mere song, and for Inc Governm snt thus
TO stigmatize It's own currescy, while indors-
ing these bonds, is simply infamous, aud
twenty years in which to redeem this bonded
debt In that time We can fetch our currency
to par, ending thereby all question as to the
mode of payment. To make the distinction
you propose is an infamy."
"There you 60" he cried. 81 did not
propose to discuss the morality or the justice
of the move, only wanted to show, as friend,
how you could make fortune without 1isking
cent. You can not help it. Ne rly all the
Congressman down stairs, in House and SEN
ate, have more or less OF these bonds, or will
HaFe tuem peioIs luo foIo is tdAen, ana quite
a number will come out of the transaction
millionaires. Not pass it Why, you limo.
cent it will be passed under patriotic cry of
repudia.ion the plghted faith of the govern
men. must be sustained" and stuff of that
sort.
Then" we responded, cit is considered
right to repudiate the debt owing the people
in the shape of currency, and shameful NOT to
enable ring of spectators to grow rich on
the distress of the coun.ry-sor that is what
it means"