Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1878-03-08

the salvation Of the Government all con.
siderntions must yield. But to make the
beat Of it, il encourages bad morality, both
public and private Charles Sumner
said "Surely, we must all be against pa.
per money-we must ali insist upon main.
tanning the integrity OF the Government
aud we must all act our faces against any
proposition like the present except M d
temporary expedient rendered imperative
BY the exisency Of the hour" Lincoln
said: " A return to specie payments, how.
ever, should ever be kept IN view. Con.
vertibility, prompt and certain convert.
bility into coin, is acknowledged to be tho
beat and surest safeguard"
Those were the ulternnccs of the men
who created both the bond aud the green.
back. Now what does the law itself say
| about paying the bonds? 1t SAYS this
The duties on imported goods shai II he paid
in coin and the coin 80 paid shall be up.
piled to the payment Of the interest on the
bonds and TO the purchase or payment of one
per centum Of the entire debt of the United
States" ls there anything palmer than
that the bonds aud greenbacks are part
Of the CENTRE debt" of the United States
and that the law and its trainers cOntem.
plated nothing but an early redemption oI
the greenbacks in coin and gradual pay.
ment of the bonds in coin? Does not the
illegal tender" Of the greenback, then, re.
late to the current aud temporary Obliga
tionS aud expenses Of the government? II
was in the brain ~ pendeton, who led
those in the war, who declared every Union
victory to he failure or mn accident, that
this repudating plan Of paying the bonds
originated in 1867. This plan is the same
M il the laborers, who built our water
works, should say to the men who loaned
Toledo the money to pay them: You
bloated tyrants, surrender those bonds and
take irredccmable due bills bearing nu
interest we are starving; you are fattcn.
ing OH tho life blood OF the cily-the semi.
annual interest curses be ON you; we will
call these due bills nancy"
Mr.. Editor, let us do no dishonor as q
nation that We would not us Il city or as
individuals.
LET Us BE TRUTHFUL AND BRAVE.
In the papers of February 18th, ap.
peared this telegram from Boston:
Hon. William Upham, n manufacturer
OF wooden goods at Spencer, Mass, Inns
Jailed. His liabilities are estimaicd nj
Sl50,000. His failure involves many oi
the leading business men of Spencer and
Leicester, who have indorsed his paper
quite heavily.
The Bee announced the disaster under a
bold heading in these words "Sherman
in the East! He calls = Massachusetts
manufacturer" That was very gentle
Use of the burning sting with which the
Bee usually strikes at this king of the
gOld-bngs." On the same day two good
friends being grieved at my financial de.
pravity, called on me, and one OF them
stuck Upham's skeleton in my face as the
result Of the resumption law. was scared
and trembled MS any one would in the
presence OF death but, insisted, TO the
last, as | always do, that ninety nine oI
every hundred failures are due TO other
causes, and that Eastern insolvents, who
are vastly more numerous than Western
will say SO too; and will say also, "Don't
repeal the resumption law" On recover.
ing from my fright l wrote to Mr.. Uphani
(who is an absolute stranger to me) without
indicating my views, and asked him to give
the cause of his fsilure and whether he
would repeal the resumption law, etc. The
following is his reply:
SPENCER, Mass, Feb. 90, 1873.
"SIR Yours of the 2Ist duly received
The remote though real cause of oul
trouble was the payment of old debts we
were discharged from in bankruptcy twelve
years ago. but we felt morally bound Ia
pay-which proved unwise. for il we had
not paid them CSC, 900 besides interest) we
would have quite surplus to-day.
Your other questions we will answer
most positively. AS things exist, we would
advise the passage of the Silver bill, as
amended, at once.
We would let the Resumption lar stand
and then as the most important rccommen.
dation let Congress adjourn for the remain.
der of the entire term. We be.
lieve if Congress did not exist to agitste
questions OF finance and revenue the trouble
might have been nverted.
Very sincerely yours,
WILLIAM UPuAM."
Charles Eaton, Esq.
The Eastern business men are proud
enough to credit their success 10 their own
individual good management, and arc
brave enough 10 confess that, it il neither
John Sherman nor the Resumption Law
that controls their destiny. They have
signed the good pledge to indulge no more
in dangerous use Of an Intoxicating cur.
rencv.
In conclusion, Mr.. Editor I thank you
for the freedom of your columns to ex.
press views so disrordant with yours, and
those OF your very great circle OF intelli:
gent readers. Candid discussion is the
breeze to winnow truth. Nothing tick les
the devil more than to have a party or q
church claim exclusively, infalibility.
CHARLES EATON, 1893 Bancroft ST.