Year: 1864

administration, "Will the Government re-
pudiate its financial pledges? ?" This i, a
question that each voter should give care
ful attention to before he deposits His vote
in November


There is no doubt but. the danger of
such calamity exists and may be real
lied We should be very Short sighted not
to see this danger; and it were wise to
look it fairly in the face, that we may
know both its nature ard extent and the
every body knows, large amount Of gov
ernment paper in circulation besides the
many millions of government bonds that
have been issued; and most Of this is in
the hands of the people of these United
States. Some, it is true, is held by persons
in foreign countries, out the great bulk of
these issues is here among us 1t is the
best and most reliable money we now have
for all our pecuniary transactions The
capitalist, the mechanic, the merchant
and the day laborer, each holds this cur
rency and if by any means it shall be
repudiated, they must, in many cases, lose
all their means of subsistence. Every
laborer in our fields, on our railroads and
in our rich mines holds personal inter
est, represented by few hundred dollars
in "greenbacks, the savings of lifetime
of hard labor. If now the government
repudiate its paper, the whole people
| 10 70 thn full
amount of the money in his possession,
and the debts due him, dependent for their
value on our legal tender notes.


These are the facts-these the interests
involved and the danger IS imminent Of
a realization of all these ruinous conse-
quences.


But, from whence does this danger
come? 1t is said, our national debt is so
large that we can never pay it, and mast
repudiate. This by no means follows,
even were our debt double what there is
any probability it can be. This appears


from the very nature of our institutions.


Our public debt is not secured by our


public property, but by the aggregate OF


all the wealth of all the loyal men in this


nation who pay annually to their agents,


the government, their proportional part OF


the amount necessary for defraying the


expenses these agents incur individuals


may fail and banks may break, but the


grand total of the wealth of this country


is constantly increasing, and hence the
| ,s ~,


becoming better. The danger of repudi-


alton must come therefore, either from


the disloyalty of the people, in refusing to


support their agents by honoring their


bills, or from dishonesty in the agents


themselves. With combination Of all


these elements, the event is inevitable.


This refusal of the people to sustain


their agents, may be by open revolt, or by
adopting policy entirely subversive OF
that which by and through these agents
they have hitherto pursued.


The latter course is the one proposed
) by the opposers of the present adminis-
tratiOn.


The question now before the American
people is not as between two candidates


or two political parties, but between t,co
; principles Of action ard their consequent
ces One party stands united and pledged
to the support of the Union and the sup
preston of the rebellion. The security i


offers to the laboring man for the perma'
nent value Of that which represents hir
sweat and toll, is found in the following
: 'p'ank' of its platform riz'


Resol,ed That the national faith, pledged
! for the redemption of the public debt, mas
be kept irayiolofe, and that for this purpose W.
I recommend economy and rigid responsibility
in the public expenditures, and vigorous
system of taxation That it is the duty OF ev
g erv loval State TO sustain the credit and pro
e mote the use Of the national currency.
The platform of the opposing party no
only ignores the subject covered by thi:
, resolution but lays down a policy which
if carried out will of necessity lead to and
cause a repudiation Of the public debt
] Is not this true? Let any candid maj
4 look at it. The central idea of that plat
e form is peace-"peace at any price =
peace with rebels IN arms and now at thu
very point of giving up, were they no
r encouraged by hopes of the success oftha


platform, to ho'd out till after ection
Let the principles of that platform pre-
! vail and cessation of hostil:ties'
/ be entered upon by US, and the resul
: must be the recognition of new natior
g within the limits of these United States
y hence q division of our country. This


reduces the area of our public domain
!. diverts large part of our wealth, destroy
4 the moral power of our government, anc
:. imposes upon US the constant expense @
} a large standing army and a long line o
fortiications stretching across our who'll
southern frontier. With these diminished
r resources and increased expenditures
d what is left us but national bankruptcy
: and the consequent inability of our gov
4 ernment to sustain its credit or to redeem


the pledges made.


Here then is the issue: peace at any