Year: 1867

WHAT rs REILLY MEAN DI Ah IN
FLATION POLICY.


"When YOU hear man talking OF the Con
" "stitution,n said the Andrew johnson OF few
wears ago, "spot him-he is traitor" The
statement was rather sweeping, Dut there was
kornel Of truth in it. And So when politi-
clan demonstrates against high Federal taxes,
and wants the Currency kept inflated to ease
tboir burden. or insists that the National faith
shall be violated, by exposing to taxation bonds
which are exempted from taxation by the ex-
press terms of their issue, you may be sure that
Repudiation is his real purpose.


The Herald has q shrewd letter from
Western correspondent, who says that the
Western Copperheads mean to run George II.
Pendleton for next President, and to use the
general repugnance to paying taxes as party
capital. He says:


'They desire to raise which they can demand
distinctive Democratic politician their standard
bearer To this end they beginning TO agitae the
policy Of a Reputation Of the National Debt complete
wlping out OF all liabilities, and recommencement
all round under return to specie basis.


"The boldest among the Western Democrats do not
hesitate to openly the doctrine OF entire Rcpud
ton They believe that it will carry the masses with IT,
and sweep everything before it. 60 into any pubic





nd OF those present in favor of Reputation
Ask them why they should grind out their lives and
pinch their families in order TO pay the dept incurred
for a war which they had no hand in making and which
has only enriched the politicians who brought 1t upon us
and they will nearly all range themselves upon our side
Still the cautious politicians desire to approach the sub
iect by more indirect paths The policy they now adyo
cate is the yipng out of the whole National Debt by
issue OF greenbacks TO the OF twenty five hundred
millions canceng all the interest bearing bonds, and
stopping the circulation Of the national banks mus
saving country the twenty millions annually squan-
dered upon those institutions. This is well understood 10
be the programme upon which Pendeton is to be put for
ward for the Presidential nomination, as foreshado"ed
by the position of his confidential organs But behind
this stands the ultimate result OF liquidation, which VIII
be rendered easy of accomplishment under the de-
preston which such imitation would occasion IN tle
National Currency"


Our readers will bear witness that we have
steadily opposed all these "indirect paths 10
RepudiatOn as only more knavish than the
direct, unblushing, rascality. The American
Peorde, in order to sustain their National exis-
tence, were constrained TO borrow Twenty
five Hundred Millions of Dollars They OBJ
tanned this vast sum on the best possible terms
eagerly accepting bids for loans-from native
and foreigner, Republican and Democrat. W ar
Unonst or COppcrhead No man can say that
he might not have had all the bonds he chose
to take on the same terms with those who did
take them. Now it is the imperative dictate OF
honesty and good faith that We shall pay these
loans precisely as we contracted to pay them.
The prctensc of paying them by issuing Twenty
five Hundred Millions of new Greenbacks, re
deemable in nothing, and proiicring these to
every public creditor dollar for dollar, in lieu
of the principal and interest in gold that we owe
him, would shame any swindler who ever ut
tered counterfeit money or passed OIL bogus
checks No one will counteuance any OF thcsn
devices Tor evading debts instead oil paying
them, who is not in heart and soul a villain. Any
Republican or War Democrat who lends them
a shadow of countenancc proves himself an IN
CRATE, a villain, and fool. We are quite will
ing to see the Copperheads place themselves
on a platform of liquidation, for it Is high
time that a career of infamy should he closed
in a death of shame.