The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-30
MR.. BELMONT ON MIR HENDRICKS
THE GOVERNORS REcoRD-EvIDENr MISTAKE
OF A WESTERN PAPER.

THE GOVERNORS REcoRD-EvIDENr MISTAKE
OF A WESTERN PAPER
10 NASSAU STREET, New YORK, Jan. 20, 1873.
To THE EDITOR OF THE HERALp:-
notice that on tho aith Of reporters alleged In
terview with Governor Hendricks. Published in the
Cincinnati Commercial he is charged with complete
surrender to the silver lunacy. You will perceive
that injustice 10 dono to Governor Hendricks when
you compare tho unworthy language which tn, rc-
porter puts into his mouth last week with
tho truo language uttered BY Governor Hendricks
himself in 1874
Let me first the fact that Governor Hendricks
opposed passage OF the Of 1862 after II was
passed he took public pains in the very canvas
which resulted in his election TO tho Governorshp 10
declare both It's character and It's binding force In
opposing the passage OF the act In the Senate Febru.
airy 81, 1869. he had described the issue then
joined '',ho question whether the holders Of the
bonds have equitable claim upon while the
difference between paper and GOLD great 1t is
declare that tho bonds shalt be payable In gold
Such also the description of that act OF 1859
which given alter It's passage by tho Indiana
democratic platform that demanded Its repeal IN tho
following language
Resolved, First, that In favor Of the redsmp-
ton OF the hvetwen.y bonds In greenoacxs, accord
ing 10 the laws under which thcy were issued.
Resolved, Second that are favor OF the
peal OF the law Of March, 1862 which assumed to
strue the law SO as 70 make such bonds payable
clusiveiy In gold.
But Governor Hendricks not only declared the act
70 DO OF binding force and not repealablc, hc also
declared repeatedly in the same speech that tho
pledged the paym OF tho bonds In gold.
IL It credible therefore that Governor Hendricks,
who said September 81, 1874, "By tho hrst when
President Grant signed 1869 lath and honor Of
the country pledged to the payment u gold, can
have said the restoration silver and their
In sill stwo IA ho n of
taith?" 1t Is incredible Tor two reasons:-
Fiyst-In 1874, as now, tho discarded silver dollar
had fallen in value ana was worth, when he spoke but
81 rs IN gold. But Governor Hendricks did not yield
TO the temptation OF disbonor and advocate payment
the cheaper COIN He said, 'The faith honor Of
the country pledged to the payment In gold"
withstanding tho gold dollar then tho costly
dollar
Second-rhs act Of 1873 had discarded the silver
dollar and had said that tho gold dollar, s'at tho
standard weight OF 25s grams shall DO the unit OF
value" so that this act OF 1873 the language Of
Governor Hendricks to the act OF 1860 perfectly
appss:--
What Is the effect OF tho act -" piedging pay.
ment IN goIdr Upon that question have no doubIx
Congress passed II and tho President approved and
signed IT, they had the constitutional power.
rheir actH within tho sphere OF their power bind
the people Millions OF tue bonds have sinco been
sold and tho purchasers must paid accord
with the pledge given. II my neighbor holds
my note Tor money to which nave complete de-
fen In law, that IL givou without considera-
ton that IL was obtained by fraud, 1 say TO an
other nsighbor who contemplates purchasing u that
II right and will no pad and, relying upon that
statement, he does purchase IL. cannot withdraw
that statement. II binds inc into Whatever hands
the note may subsequently, pass 1t Is because my
induced him 10 buy the uote and II would DO
a fraud upon the holder TO allow TO set up any de-
icnco which existed at the time made II. lower
standard cannot be set up tor the government than
that which the rights and liabilities Of nd,-
viduais.
This argument applies, you perceive, with
peculiar force TO the act OF 1873 than 10 the
of 1862 and submit that II must DO quite impossible
that Governor Hendricks have en- couraged such
another attack upon the faith and honor OF ooun-
try ne once. while successful candidate for tho
highest OF hts State tramped under with
such manly and powerful argupentS Yours very
truly, AUGUST BELMONT.