Year: 1867

tionf This is a question which we
have heard and seen propounded sundry
times. We think it is clear that they
propose no such thing. Their idea OF
redeening the bonds in greenbacks in
wolves no sueh consequence. 1t is simp-
ly plan to place the debt due the hond.
holders from the Government upon the
same footing with the debts due the
people from each other, and with those
due from the Government to the soldiers
and their representatives. If green
backs are good as an equivalent for the
farmers wheat, and the grazer's cattle,
and the merchants goods, and the Ia
boring mans toll, and the professional
mans services, and the soldiers blood,
there is no reason why they are not
equally good to pay off the claims of
the money-lenders upon the Govern
mcnt. If it be rcpudiation to pay with
greenbacks the bonded debt, thea it was
to pay private debts in the
same money, and the Republican party,
who made legal tenders the substitute
for gold and silver in all business re-
lations, are the actual repudiators.


The Democratic party opposed the
measures by which paper was thus made
to take the place of gold and silver.
They were over-ruled. The currency
was inflated. Values were disturbed to
an almost unprecedented extent, and in
the midst of the imitation the bonds
We're issued. They cost their holders
from thirty-five to fifty cents in gold.
To redeem them in a currency every
dollar of which is worth seventy cents
in gold, strikes us as being no very dam
aging repudiation. In insisting upon
the currency redemption the Democrats
are perfectly consistent and just. They
formerly insisted that nobody ought to
be compelled to take paper in pay for
a specie debt. Since the Radical
party have enacted and the Courts
have decided that private obli-
cations shall be thus paid, it is
neither inconsistent nor unjust to de-
mand that all shall fare alike, and that
if the farmer and mechanic must use
paper money, the bond-helder must do
the same. 1t is perfectly Democratic to
have no determinations But to have
paper money for the people and coin
for the mouey-lenders would be the es-
sence of aristocracy.


In this connection We present the fol-
lowing article from an exchanges:


One of the chief arguments of the
organs of the bond holders against pay
ment of the public debt in "lawful
money" is that the country could never
redee m so much currency, and that 1t
would consequently fall dead andworth-
less in the hands Of the people. We
admit it to look like huge pile when
presented in this shape. But if it be
impossible to pay debt of $4,000, ,0OO,-
600 in qreenbacks without interest, how
could s., ,OOO, 900 900 be paid in gold with
interest at the rate of six per cent. per
annum, payable every six months, also
in gold, together with three and a half
per cent. as cost of collecting, and
twice as much more for official and other
stealing; to say nothing of the loss of
the services to the productive industry
of the country of THIRTY THOUSAND
able-bodied men now engaged as collec.
tors and other officers Of the revenue J


In other words, if the country can
not redeem $4,000, 900, 600 in greenbacks,
plain and simple, in a period covering
any number of years, how can it pay
g., ,OOO, 900, 900 in gold every sixteen years
for all time to come, with the principal
still due, together with such increase as
accidents of war, revolutions
and internecine strife must bring


Greenbacks then are a fair medium of
Of course, it is not claim
ed that that redemption should be SO
sudden as to be injurious. The people
are willing that it shall be gradual
but they are determined that it shall
be certain. In the meantime, the bonds
are to be taxed. We are not addicted to
but there is no future event
more certain than that the people will
require the bonds to bear their proper
ton of the national expenses. 1t is
lust, and it is necessary; just because
no species of property has Il right to
exemption which nc other shares ;
necessary because the remaining prop
erty of the country cannot bear its own
load and that of one-seventh OF the
entire possessions of the nation beside.
The Government securities, then must
be taxed, or they will depreciate, and
their holders will be wise to acquiesce
in time. Labor is already restless under
its load; the working classes, who after
all pay the expenses of the Govern
ment, are discontented, and their
discomfort is growing. At present
however, they make no extrayagant de-
they will bear their burdens, if
the bond-holder will bear his. He Is
the veriest simplstop alive if he re-
fuses. The time may come when he
will repent that refusal. Human ma
ture is patient and long-sutfering, but
it has its limits of endurance, Over.
taxed, over-worked, and overloaded
humanity will not always be so easily
satisfied as now. If the stupidity OF
bonds at a premium will not open it's
eyes to the demands of the hour, it may
learn a sad and bitter lesson from the
experience of bonds at discount,


Gossip with the Register.


RosEvILLE on A MONDAY.


DEAR REGISTER Did ever tell You


A,oN orb