Year: 1864

THE BLOW AT OUR CURRENCY.


The Democracy of the Senate persisted in
their revolutionary schemes, and obstinate
ly refused TO afford relief TO the State In the
payment OF the interest on our debt. The
Union Senators proposed on various occa
sions to consider a bill to provide for meet
ing the interest in currency, and appealed
to the Democrats to stay their suicidal mad
ness and save the people from being plum
dered but they were deaf to every nmpor
tunity offered in behalf of the taxpayers
Their conduct clearly manifested settled
purpose to impair the government credit,
embarrass the treasury, and impose grievous
and needless burdens upon the people. In
the House, when the Union men proposed
to consider the bill providing for the pay
ment of the interest In currency, the Demo
Gratis restored to fliibustering made every
possible dilitory motion, such as TO postpone
to adjourn, &c: and when arrested in that
course by the cali of the previous question,
they refused to vote, thus neccssitating
call of the House, and wasting the session
without passing the bill


This action of the Legislature is most un-
pardonable. 1t evinces shameless disre-
gard of the interests of the people; an utter
want Of sympathy with the cause of the
government determination to cripple It's





immediate interests of the taxpayers. In
deed 1t can scarcely be explained upon any
principle of mere political ditferencer 1t
goes deeper and points, with startling con-
clusiveness, to a revolutionary policy that
aims at financial revuislon as the hrst step
toward the destruction of the government
If our currency could be destroyed, the very
foundation stone we',ld be taken from the
great structure OF our Free Institutions =; and


if the prostration of the currency is not the
deliberate purpose of the Democrats of the
legislature, then there can be no rational
explanation Of their hostility to the interests
OF the people, of the State and OF the Ma
ton.


There are able lawyers on the Democratic
side in the legislature, who know well how
they are defying the law as it would be ad-
mipistered by our Courts, if the bonds Of
the State we're contracts between lndlvld-
uas. If j. Mcdowell Sharpe or Cyrus L.
Pershng or William A. Wallace held a
bond against John Smith, drawn in the Ian
guage Of the securities issued by the State
to It's creditors, expressly stipulating to pay
the same in specie, they are well advised
that the legal tender currency Of the gov
ernment would cancel 1t at par. So the
Supreme Courts of New York and Massa-
chusetts have already decided, and SO would
inc supreme OOuIU t1 every loyal Sidit uS-
termine Indeed, if the United States cur
rency be a legal tender, as the law declares
it, there can be no other decision rendered
by rational court, for an express contract
to pay in specie, made prior to the issue of
legal tender notes, is precisely upon the
same footing with every form of indebted
ness, whether book account, check, negoci-
able note; under seal Judgment, or any 9th
er shape debt could assume. The law
required all to be paid in legal tender mon
ey, If demanded, and specie only was made
legal ter6e-. The courts therefore very
properly decide that judgment can be had
only for the amount called for by note OF
bond, and any legal tender of the govern
ment must necessarily cancel the Judgment.
Thus would they deal with individuals; but
the State cannot be sued its Executive off
GERS cannot disregard the law, which is
mandatory as to their action, and the State
cannot withhold its interest on the day 1t is
due-therefore. for want of legislation, the
Governor and financial officers were COM
PEELED, on the lst day of February to draw
some sir hundred thousand dollars aeed2eSsty
from tie treasury Thus while all other
creditors of the State all creditors ofindivid-
uals, and all monetary transactions among
the people, are compelled to recognize ten
der OF government currency as payment,
the D0nUnOlQerS OF the state. most OF WnOnl
are foreigners, and foes of our institutions,
are paid sixty per cent more than their just
claims, and the treasury Is so crippled that
without extraordinary revenues from iu-
creased taxes, the credit of the State cannot
be sustained single year Such is the
entertainment TO which the Democrats of
the legislature have invited us


We need but turn to the representatives
and organs OF the Democrrtic party to learn
how they have predetermined the destruc-
tion of our currency if it can be compassed
The 4ge, the Philadelphia organ of that
party, has been earnest in demanding pay
ment of the interest in specie and when it's
friends had achieved their hoped for sue
cess by defeating all legislative measures of
relief, it is in delirium of joy because the
people have been robbed of six hundred
thousand dollars, and in fendish triumph
declares II "a fine illustration of the new le-
gal tender currency with which Abolition
ism has Blessed the country" 1t denomi-
mates the war for the preservation of the
Republic of our fathers 'ttss Lincoln spree
into ,oIttch the people hare been tnreiigied," {"
and boasts that it will cost a good deal be-
fore we get through with it y Such are
the words of cheer which the organs of that
party send up to people struggling in the
sublimest heroism for the life of the govern
ment: such their epitaph over our martyred
dead such the words of consolation TO sor-
rowing hearts and striken homes, and such
their tribute to the holiest civil cause for
which mankind has dared and died