The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-09-11

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zed world OF nation that would force
such an outrage rs that on her creditos2
What would be the opinion Of oil honor
able men Of a debtor that would force her
weaker and deienceless creditor to make
such n, exchange? Nothing but ttitntigated
disl.onor could jollor such a transaction.
But who are the bond.holders that are
TO be thus treated? They or their as ign-
ors furnished their horses, bacon, -four,
powder and firearms, indeed, all the
sinews Of war, and took bonds from the
Government in return. Many OF the Off
GERS and men took bonds for unpaid bal
anees due for their services in the war.
Can the Government, without everlasting
infainy, break good faith with such credit.
ors2 But It Is said the bonds have changed
hands since they were given to those mer-
itorious creditors This may be true; but
the Government encouraged the purchase
OF her bonds by declaring that they should
be paid to the holders in coin when due,
or sooner, ut the pleasure OF the Govern
ment; so, q breach OF good faith towards
the assignees OF such bonds would be no
less fatal to the honor Of the Government
than II made with the original holders.
The question, then, still occurs: Can the
Government afford to be guilty OF such
bad thtowards the bond-holders, wheth-
er the original contractors or their assign
ees? We know that the thief, robber,
counterieiter, and tramp, that can hunt
out the deienceless widows home, and,
under duress, demand and obtain toodand
money from her, can afford to do anything
that Is dishonest; but can an honorable
American voter, who values his own good
name and that OF his Government, afford
TO embark in wild scheme OF reputation,
such as Is proposed? .s..
The Legislature OF Virginia, last winter,
passed a law in conflict with her engage
ment with, and to the prejudice Of her
bond creditors, which the Judiciary OF the
State decided unconstitutional, null and
void. How far the Courts OF the United
States can go in remedying the evils OF
such legislation, is an open question. But
would Il not be we'll 10 look to all the con-
sequences OF the proposed legislation?
Suppose Congress should pass law such
as IS demanded by our grcenback friends,
and offer to pay foreign bondholder in
the new issue Of greenbacks, can anybody
suppose that he would surrender his bonds
and take in exchange things with which
he could not buy dinner in London or
Berlin? Would he not at once spurn the
| offer and ask relief under the well known
4 law OF nations-not q war measure, but
peaceful remedy as the law by which one
citizen RECEIVERS his dues from another in
the civil courts OF their own country. An
English bondholder, for instance, would
decline the offer and apply Of once TO
his own Government for relief; and the
attention OF our Government would he
called to the subject, and II the proper re-
lief was refused to the English subject,
letters OF marque and reprisal would be
issued, and the goods, chattels and
moneys OF American merchants or cih-
zens would be taken on the high seas, or
in any part Of the British Empire, and re-
turned to her courts Of Admiralty, under
the orders and DEGREES OF which the at
tached property would be converted into
lawful money, and the English bond
holder paid his dues according to the face
OF his bond. And this would be done
with the approval OF all the civilized, hon
est and law-abiding nations OF the earth.
| But it may be said, We will pay the foreign
| bondholder in accordance with the re-
quirements OF the bond, and will and Gan
4 make the home creditor take for his bond
what we please to give. We will make
the bonds held BY our citizens read,
"Payabla in Greenbacks," and those held
BY foreigners read, Payable in Conn.,
To this It must come at last, If the pro-
posed measure is carried out.
When the present greenbacks were is.
sued, the friends OF the measure claimed
the power to make them legal tender as
a lrdr poVsr. tits true that both individ.
uals and nations can do under certain
emergencies what would be unlawful un-
der different state OF things. Even hon.
icide can be justified in self defense; but
homicide to satisfy an old grudge becomes
murder; and new promise TO S1tiyy an
old debt could hardly be justified by any
legal or moral code.
I have thought the best way for those
that want more money is to be more &C.
tive and diligentin business, and get some
L thing to give in exchange for it. But il the
Iintlationists want and must have more
money, why resort to an increase ofgrcen-
backs, mere promises to pay at some dis
tant and unknown day? Why not require
the minis to double or thribble their MONTH
" issues OF silver dollars? They are not
promises that can be broken, they are dol
lars, and have purchasing power and an
intrinsic value all over the commercial
world. Paper money when It can be con-
verted into silver or golda the willie the
holder at par, is very convenient, but
promises to pay whore the money cannot
be had when called for, is and always
must be an unsafe currency, because its
value fluctuates with the credit of the
maker.
More than half of the business OF the
commercial world is doneon credit; hence,
1t is very important for both nations and
individuals to have and maintain a good
name for honesty and integrity, without
which they are poor indeed.
WV. G. BRowS.