Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1875-07-30
(Trom tile New York Times.)



Gov. Aliens doctrine amounts to rcpudi-
alton. 1t is impossible for il to stop short
OF that. II the government can issue its
promises to pay, and by declaring that ev-
cry one must take them as equivalent to
coin, make them so equivalent, why should
they ever be paid? II it is, as Allen says,
wrong TO pay them when they are worth
oaly 50 cents 10 the dollar, why is it not
wrong TO pay them when they bear any
other relation 10 coin-75 cents to the dol
lar, for instance, or 30 cents? According
to Allen there is not now, and never will
be, any obligation to pay the government
is aiming at. They do not like TO hare IL
else, and repadidtion is the boIdest and most in
ercusable Of public robbe,ies
Much OF Gov. Aliens argument is alb
surd, but in spirit it is constantly mis-
chieyous. lie declares that there nre 'two
kinds OF dcspotism prevalent at this time
military despotism, and money despot-
ism and when they are united, as at the
present time, they are terror to all repub-
lican institutions" This is precisely the
tone of the more blatant demagogue,
Cary. The cry o. military despotism "
is an idle one, and may be allowed to pass
but the continual reitcration of the exist.
ence OF 4 "money despotism" is calculated
to have very bad effect. Who are the
money despots? They are the creditors.
Who are the creditors? In the vast ma
jority Of cases they are men who have
obtained the money they have advanced
by hard labor, self-denial, prudence and
honest fidelity 10 all their engagements.
They are not, except in a comparatively
small number OF instances, rich men,
though we do not know that it is yet a
crime to be rich. The class usually re-
lected for attack, are the holders of United
States bonds, and it would be wholesome
study for Mr.. Allen to ascertain who hold
these bonds. About one-fourth of them
are deposited in the Treasury as security
for the notes of the hated national banks.
Another large portion of them is held by
savings banks--that il, they have been
purchased with the earnings of several
millions of men and women who live BY
their daily wages. Still another large part
is made up Of Investments by trustees and
executors, and represents the property of
widows and orphans or money devoted to
charitable or religious uses.
Still another portion of the United
States bonds represents the property OF un-
married women and of clcrgymcn and
other professional men, who RELY ON
the interest from this source for their sup
port. These are in large part, the "thieves"
against whom Gov. Allen declares war, and
with whom the Democrats of Ohio would
have the government break faith. Nor
these alone. Take the national banks. up
on which the hostility of the demagogues
is especially directed. Who holds the
stocks OF, and who make the deposits in
these banks? Some of those who do so
are rich mem but for the most part they
are the smaller dealers of the couHtry-
they are the manufacturers and merchants
OF the towns and the interior cities; they
are the men whose industry, intelligence,
and Integrity have built up the vast in-
ternal commerce of the Union and have
made it possible for the farme, to till his
land to profit and Tor the laborer 10 find
employment. When public man attack these
clauses as hieUes," and despots, he commits
disgracefW and ersn Infamous outrage. Gov.
Allen makes such an attack, and he has
the sympathy of the leaders of his party
generally. They are doing infinite mis-
chief but what does that matter to them,
so long as the people are fooled into Civ.
ing them offices? To them it may not
matter, but to the people il does and n
this IS not seen, and The tribe of repudiators
drlreR into pirate lie, The country teiH suffer
more hedviLy than IL has erer done since he out.
break Of DE rebellion.