The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1879-04-29
A Fallacy Puncturcd.

greenbacks sufficient to pay of The bond
cd Indebtedness Of yer $4,000, 600, coo,
let u. amend the Constitution and make
II constitutional" cry the orators Of tie
9reenback party in this county.
Now, 1T us see what is necessary ia
secure the adoption OF an amendmen, Ia
the Constitution Of the United States:
FiRT-A majority of tw' third. OF
the members elected to each branch OF
Congress- to frame and pass il.
StcoND-A majority in both branches
OF the Legislatures Of three -',urths OF
the s ates. voting in The affirmative, shall
be necessary to ratify- an amendment to
the Constitution.
Is 1t not presuming too much upon
the good sense OF the American people
to suppose, even for moment, that a
majority Of the people in twen,v-,ine
States would vote to authorizs fi,grant
violation Of the Nations contract with
Ito creditorsi
Certainly It is, and any man who 10
the happy possessor Of even thimble-
ful OF brains ought to he ashamed to ad-
vocste such arrant nonsense.
The $50 bonds we're originally made
payable In the currency Of the country,
hut Republican Congress, in 1859,
changed ,h. con,rac, so that they should
bo redcemable in coir. That act the Dem
ocratic party has always condemned
since tie ensciment, and insists that the
country shall hold the Republican party
responsible for u. But now that the 5-30s
have oil been funded into 4 and A. per
cen, bonds, We know Of no way to right
the wrong perpetrated in 1869. And what
We condemn in one instance, certainly
does not warrant US or any one else In
advocating The same hal faith toward
the holders OF another issue OF bonds
which were originally made payable in
coin.
Whom the Government was sorely
pressed for funds TO supply and pay .he
army In .he field during the dark days OF
1854; II, called upon the capitalists Of
thS country for money and go,i,.' They
took oil the risks, at time when many
ssaurch friends OF the Union entertained
serious forebodings In relation to the
success Of our arms, relying upon the
Government promise to pay them hack
- specified in the several acts OF Cor
Rress authorizing the loans.
At that time there we're 84s2, ,000, 600
Of greenbacks In circulation, and 1t Is
claimed that they we're worth only 40
cents In gold on the dollar. Nntwilh-
standing that fact the capitalists took
the risks. and poured their money with
out stint into the Government Golfers,
and by so daing proclaimed to the world
that they had faith in the credit and sta.
bilty Of the Gnvernmsni.
Wha, individual or combination OF in
dividuals,w with paper worth only 10 cents
on the dollar, could effect loan, psvs-
hle in from ten to forty years, or for any
other period, in any money market In
christendom
Now, when greenhack dollar Is worth
one huHdred cents IN gold, the leaders Of
this new party say they are willing, yea
anxious, to degrade the credit OF the Ns-
-.s,'u ty Is61nE Eruuut'scKs enough 10
pay OF the entire bonded indebtedness,
and il the hulders refuse TO take them
at their face value, when they would only
be worth Y cents on the dollar, (as they
were worth only 40 cents on the dollar
when there were but 1900, 900 in
circulation,) they, the Greenhackers.
are not in favor Of paying them in
anything; and they IN -ther declare that
shey are opposed to making this $1,000. !.
100000 or two thousand millions OF
grsenbacks reieemable in anything. or
in any manner whatever.
The advocates Of this doctrine do no,
address themselves to the Judgment of
their audiences, but appeal to their ps..
sions and impecunious condition, to sales
made by the Sheriff, and then cry aloud
in the true style Of the artfnl ,lemagogue.
"form yourselves into club. and let us
crush this hydrs. .headed monster, the
bonded indebtedness r
The Democracy OF Monroe C.unty
have stood sqnarelv and firmly in the
past against all sophistriss and humbugs
gotten up to damage the party, BY DEM
agogues who had strayed into the party
for Office. as well as against those who
had iaileti to realize in that way. and We
know whereof We speak, when We say
that this effort, like all the others, will
be overwhelmingly condemned at the
polls on the l4:h day OF October.
egA dispatch from Washington. alst
inst. says: