New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-16
WHAT TIE GREEYB4CKERS WlyE

To know the real meaning OF q political
party il always important. But the Green
back party has not been tested by years Of
tnal; It is new, and represents new forces in
the politics OF this country, and its theories
are supposed to threaten the very existence
of civilized society. A plain statement of its
aims Il, therefore, peculiarly desirable, but has
been sought In vain in the National platform
adopted at Toledo, or in the platforms
adopted ut other State conventions. Happily,
the Greenback Convention of Connecticut was
an exception. IL knew what the party
wanted and was able to state ii clearly.
The Convention calls for " the retirement at
"once of the National Bank circulation, and
" the substitution therefor of a full legal
tender paper money! Upon this topic
enough has been recently said; the proposal
ought to be rejected, because it involves bad
faith, injury to the public credit, deprecia-
ton of the currency, and the substitution of an
inelastic but dangerous circulation for one
which readily adapts itself TO the demands of
safe and Legitimate business. But the Con-
ncctIcut Convention also demands payment
"of all bonds in absolute money as
"soon as possible" To the objection that
this is virtual reputation, because the
faith of the Nation has been sOlemnly
pledged to the payment of bonds in coin, the
Convention replies by "denouncing "a crimes
against the people the act changing the
currency bonds into coin bonds the act ex-
tempting bonds from taxation )" and other
acts pamed. In naked truth. the Greenback
Convention declares that it was wrongful to
promise coin payments, aud therefore that
promise ought to be repudiated. A great
many writer's and speakers have more or less
vaguely uttered the Same idea, but it is the
distinguishing merit of the Connecticut plat
form that il shows no hesitation in annOunc-
ing the most dishononble purposes, and trans
lates the evasive jargOn of other conventions
into very Ineligible English.
Tho Act of 1869, which is thus denounced,
was the direct result of the Presidential cleo
ton of 1868, in which the Democratic party
proposed payment of bonds in lawful money
"of the United States" The overwhelming
defeat of that party manifested the will OF the
people, As soon as Congress had assembled,
with the emphatic mOnitiOn of constituents
ringing in their ears, members made haste TO
declare that tho Nation would not repudiate
its pledges nor cheat its creditors. but would
as coin bonds, in the belief that, long before
they should fall due, the United States
would have resumed specie payments. 1t
was supposed that no party would ever arise
in this country so lost to all sense of public
honor as to propose reputation Of this dis
tnct and solemn pledge. Even the Demo-
cratic party. bad as it has been, has never
ventured to make this proposal since the Act
Of 1859 was approved. UntH that time, as
Mr.. Pendleton had been the earliest, so he
was also the most conspicuous aud Jealous
advocate of payment of bonds in currency,
but since that dime he has said, "The
Act was wrong, but it has become
claw; it ought not to have passed, but
cit pledges the faith of the United
States, and we must abide by it," Many
times. and in many forms, he has given
expression to the same honorable feel
ing, and nearly every Democratic leader of