The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-08-14

Tho cry of Reputation went up from
thc Republican camp on the introduction
Into the present Congress OF n bill FOR the
repeal of that hypocrtical clause OF the
falsely resumption act which fixcs
January 1, 1879, rs the day the Government
will pay It's debts In coin. The cry was
reiterated when the st. Louis platform de-
flared that this deceptive clause Of n dis
Ingenious law was an obstacle in the wny
Dfresunption, and therefore ought to be re-
pcalcd. The cry has been vigorously re-
ncwed ON the appearance Of Gov. TILDEN's
letter, wherein he proves that tins clause
will be wholly imperative, both because of
radical defects in the law, and because the
Republicans, by pronigate expenditures,
have wasted the revenues necessary to the
redemption OF the legal tenders on the day
named. And the cry swells TO something
like howl when n lnrge share of the
Democrats In the House, by the aid of
some Republicans, carry through n bill
u repeal this swindling clause of an ill
digested and Intellectual law.
The Republicans created and set afioat
nll our paper money. They now have in
circulation nearly four hundred millions
of dollars of legal-tender notes, commonly
called greenbacks. They are of various
amounts and bear date at sundry times
within the last fourteen years. Each Of
these notes contains on its face the promise
that the United states will pay the amount
90 the bearer on demand. The number OF
these notes constantly in circulation must
be about one hundred millions; and each
note probably passes through three or four
hands every week. OF course the United
States has not yet paid one of them in
coin, though they have been long over due
and its promise 10 pay has stood all the
time in glnring letters on the face of each
note. In n word, from the first hour the
Government issued them down to the pres
ent moment it has repudiated its promise
TO pay them; and for the past dozen or
fourteen years, during which the green
backs have been in existence and the Al
ministration all the while under the con-
troll of the Republican party, the Govern
ment has repeated this act Of reputation
60 about three millions Of people in each
week.
Hard pressed by the emergency of an
approaching Presidential campaign, the
Republicans passed the worthless law in
question. Giving it all the force they claim
Tor it, 1t is only adding one more promise
Go the millions OF promises which the Gov
ernment has been repudiatng every day
from the first moment II sent forth green
back. Leave this imperative act as it Is,
mud all that the Government has got to do.
aud all that IL will do if the Republicans
continue in power is to not pay its green
backs in coin when January l, 1879, arrives; ,
mud that will be the end OF it. The obliga-
tion 10 pay then will be no stronger than ii
L. TO pay now. The holders of the green
backs will have no means OF enforcing the
PROMISE and the reputation of the promise
oil January l, 1879, Will only be repetition
of what the Government, while in the
hands Of the Republicans. has been doing
Dr. millions OF cases throughout the past
dozen years.
The act in question was passed by profit
gate party to tide over political exigency.
Taken as it stands II is Il patchwork Of i'm
potent hypocrisy. This was asserted by
MI. THURMAN, CARL ScuURz, and Others
when the measure was pending in the
Beuate; and its authors were unable to
disprove the allegation.
Mr.. TILDES explains the defects in this
law and shows how they can be remedied
bud he points out the way to safe and
speedy return to specie payment. And a
large body of the Republicans call this
Population Some who make this charge
know better, and some do not. The former
pre knaves; the latter are fools.