The New York herald., 1876-07-15
BELMONT'S POSITION.

AOGOSl BELMON POSl llON.
THE NEW SCIENCE Or METHOD OF Mr.. =. W.
sToUoHToE CoNsIDERED-THE POSITION OF
GOVERNOR HENDRICKS ON THE FINANCIAL
QUEsTIoN--FALsE STATEMENTS AND INFER
ENcEs coRREcTED-THK GREAr BANKER ON
GOVERNOR TuDEN.
No. 100 FIFTH AVENUE, NEW YORK, July IL, lS7d
To rHx EDITOR OF HKRALD:-
Since Mr. E. W. Stoughton, nearly two years ago.
made his gallant sortie from the ranks OF the demo-
cratic party relieve General Grant in the difficulties
caused by federal usurpation Louisiana until Wednes
day evening at the republican raehcation meeting in
Cooper Union he confesses to have taken no "actvc
part IN the politics OF country, which, rightly un-
derstood is that science method by which all its
elective officers selected nominated and chosen by
the people" This definition Is SO ghly original and
novel that 1t will be pity If the new philosophy Of
'the politics Of country should prove a failure
owing to the ndiscreton nexperence Of its parent
aad patentee.
do not now refer to Mr. Stoughton's confidence In
the republican party, which, having sole power and
responsibility first made paper evidences OF govern
ment Indebtedness legal tender in payment of the
debts OF private citizens and which instead OF perform
Ing its promises has, while annually protesting would
perform them. during eleven years Of peace annualy
enacted fresh hindranccs therefor; do refer
10 his valuable guarantee that tho republican party
now be trusted 10 redeem the nations dishonored
pledge merely because II has made now impossible
profession, having meanwhile done absolutely nothing
to fulfil II, nothing TO fulfil single OF the prom
1903 engraved upon more than $3.50, 900 900 legal
tender notes, which daily detraud either debtor or
creditor in every payment or sale among 4 o0o 900 of
people. Still less do refer to Mr. s,oughton's
tpro Of
ernor Hendricks, whom no not only styles
representative inaatonist" IA character
he has always rejected and dsclamed, but to whom
he would also ascribe an attempt toward reputation
In some form 'Perhaps in payments by
promises in accordance with the theory OF Hendricks
and his followers" " For MIR. Stoughton in his previous
confessedly negligent performance OF the high duty Of
taking part in his science method" OF dstrib-
utng Office has merely taken the liberty TO be gnor-
ant of the speech made by Governor Hendricks In
Indianapolis September IA, 1874, indorsed ,oo by the
victorious democracy of Indiana in the subsequent
election, In which speech he said:-
EXTRACT FROM GOVERNOR HExDRICKs spEgcH
BY the first act which President Grant signed In
1869 the faith and honor of the country pledged
the payment toi the restee.rnS obligations Of the
the act OF 1859 podglng payment in goldg Upon that
question l have no doubts. Congress passed it
and the President approved and signed it
They had the constitutional power
Their acts within the sphere of their power bind tho
people Millions OF the bonds havc since been sold
and tho purchasers must be paid in accordance with
the pledge given. lower STANDARD cannot
be SET up for the government than which measures
the rights and liabilities OF individuals
The act of 1862 OF which Governor Hendricks
thus demonstrates the sancliy includes in its binding
pledge merely the bonds but also the legal tenders
1t reads
The faith OF the United States solemnly pledged to
4
cations Of the United States not bearing interest,
known as United States notes. Of all the interest
bearing Obligations of the United States, except
where the law authorizing the Issue oil any such oblga
ton has expressly provided that the same may be paid
in lawful money or other currency than gold aud silver
1t is, perhaps, canon of the ''science
method" of distributing Office that every ncophyte
shall describe 'infationst" and "rcpudator" any
democratic statesman who, like Governor Hendricks,
has demanded the honorable ful6ment of pledge Of
Congress when believed mprovdent, favor 10
bondhoIders and a wrong to taxpayers
But | do refer to another, though less important
falsilcation which cannot but hinder the success Of
Mr. Stoughton's sciencc method" of distribut-
ing Office, viz, MS attrbuting to fellow Citizen who
never them words and opinions false in them
selves, as well falsely imputed Mr. Stoughton at
the Cooper Union, ascrlbcd to me this absurd utter
ance:-
Those who claim that Tilden is unassalabe do no.
know him, II they do, then they quite as dis
honest he in lie has been counsel for all the broken
down corporations with which New York has been
afflicted long term of years, aud OF them he
has not come with cloan hands
No 'sciepce method" of obtaining ofice can pros.
per by the help of slovenly inaccuracy liko this.
should have supposed that in the old honorable
profession OF tho law could obtain keep clients
by such methods. Mr.. Stoughton could havo asccr.
tained by note II had ever held uttered
these opinions But he should have been awars that
no man OF in New York could have believed
such faisehoods concerning Governor Tilden, than
whom, II may presume 10 judge, moro clean.
handed, upright or sagacious counsellor, In my tme
has belonged to the bar Of this CITY, Ny first choice
indeed, for President Senator Bayard, of
Delaware. But concur heartily In the choice
OF the ST. LOUIS Convention. and in their
platform, direct, explicit and unequivoca in It's
every demand for reform. and this do the more un.
hesitatnsly Tor the that have long believed
Governor Tden TO bo OF the few statesmen any
party who capable to fulfil the pledges Of that
terly platform in respect to reduction OF expenditure,
revision OF taxation and n return to specie payments
with seadncss and safety, relieving labor which
now everywhere begs In vain for employment, and
lbcrating capital which generally hides in dis
trust Your obedient servant
AUGUST BELMONT.
TAMMANV Hall.