Daily Kennebec journal., 1879-06-14
paiIp Asnnsbsf sournal.
Augusta. Saturday hs-z,s, June "a, 1879
E-ssn tfpe Ha~sor Advertise
The Fasf~ Of rl>e Times.

Inc ta44s al 1Rt tFess~'S
t,pe al tl,s resf.ss5 l,ies al crcenhscsism
~ a1st j. ~ te fSsuha ir ths platform o, the
N.Ispc-oss Disciples al the new MONEY l,hi-
iA-apte- Ii w'ss resolved thst al the
a'''efs issned heiorp 1860 ought N he paid
ia ss-io accordance with tire originsl con
'frTrV white a. shsi have hecn issued
SINCE thsas wear should I've maid '.in non-in-
's<srs-ss hearing. full legsl-tender notes IS
y hal We mosl admire in this demand is it,
sturdy honesty. As everybody knows. the
pfrsse ''strict accordance with the onrinsl
contract means, when translated into the
grernhsck tongue, legal notes.
different Interpretation has been put upon
il by the Treasury department and by Con-
gress The bonds have been bought and
sold for ten wears since the uncertainty was
removed, with the promise of the govern
meni attached to them that they should be
paid in coin. Moreover, of the :, 100 mil
lions of bonded debt ia 1869, all but 800
millions will have been paid in coin by
the lst of August. At that time, which
will be long before the Minnesota election,
there will be outstanding only 2S4 millions
in bonds issued before 1869, and only rs
millions Of this amount was issued after
there were any legal-tender notes. So it
is only to this trifie of IS millions that the
Minnesota demand can apply at all.
But the remarkable thing about this
platform is, that it insists upon strict
compliance with the original contract as to
bonds issued before 1863, and gross
violation of the contract as to bonds issued
since that time. When the shinplsster
party Of Minnesota goes TO the polls upon
this platform the government of the Unit
ed States will owe something more than
1000 millions of dollars upon bonds issued
under the refunding act of July IA, 1870.
That act expressly said that these bonds
should be 'redeemable in coin of the
present standard value" So. then, when
anybody suggests that these bonds may be
paid" in legal-tender notes, or in any
thing but coin of the standard value of 1870,
he proposes not merely swindle but a
deliberate violation of valid contract
The abrupt passage by these Minnesota
greenbackers from the words-only the
words-of honesty to an open and un-
blushing proposition to cheat the public
creditors has something ludicrous in it,
but we cannot laugh at it. The resolu-
tions reflect shame and disgrace upon
every man who assents to them.
There are doubtless great many men
of honest purpose, who sincerely believe
that an imitation of the currency and final
abandonment of the specie standard would
be benefit to the country and an injury
to nobody. They are laboring under a
very silly delusion, but they are neverthe-
less honest. What do such men think OF
this suggestion which is going the rounds
The Iowa Greenbackers, at their cOnven-
ton at Des Moines on the 28th ultimo,
made it part of their platform ''that the
government bonds be paid in the legal
''tender money of the country as soon as
possible" On the 4th inst the Ohio Sec
ton of the same party resolved with en-
thusiasm-"We demand the immediate
'calling in and the payment of all United
Estates bonds in full legal-tender money!
And now the Minnesota greenbackers, not
without touch of hypocrisy. echo the
sentiment. What do honest greenbackers
think of it? The men who demand the
payment of bonds in paper money are
rogues. No word of milder signification
describes them. There is not the shadow
of excuse or justification Of their out
rageous proposition to pay in worse money
than the creditors lent to the government,
and in worse money than the government
agreed to pay. The honest greenbacker
who continues in such company becomes
the ally of men who openly avow them
selves as rascals, and endeavor to destroy
the public credit by needless as we'll as
disgraceful act of bad faith And such as
claim for themselves sincerity, while con-
tinuing to act with the base leaders who
commit the party to such atrocious propo-
sitions, cannot complain If their own mo-
tives and honesty are called in question.
We regret that Judge Peters feels com.
PEELED by reasons personal to himself to de-
cline to be a candidate for the republican
nomination for Governor. However the
support which would have been so cor
daily given him as the republican candi-
date for Governor will be given to any
candidate whom the State convention NAV
select.
From the Bangor Wing and Courier.
Judge Peters Declines.
RASGOR lime 1870