Year: 1868

Aho ooolal l'1loHS IeldGluS 10 Inc
finances are scattered through diff
ferent sections of the PLATFORM
They need to be brought together
before we can get an intelligent view
of their scope. The platform isex-
plicit enough upon each particular
point, but its several declarations so
limit and modify one another, that
it would be very misleading to CON
slider any one ofthem apart from the
rest. Payment of the principal of
the five-twenty bonds in greenbacks,
will easily be found in the platform
if searched for. The language is,
that "when the obligations Of the
Government do not expressly state
upon their face, or the law under
which they were issued does not
provide that they shall be paid in
coin, they ought, in right and in
justice, to be paid in the lawful mon
ey of the United States that is to
say, in greenbacks Thisis explicit
enough so far as it relates to the
medium of payment: but how does
the platform propose to provide the
means? In other words where are
the greenbacks to come from? On
this. also, the platform is explicit;
they are cot to be manufactured by
the printing press, but to be raised
by taxation. By this method, the
payment of the public debt can not
be very rapid. The bondholders
need have no fears that their prop
erty is to be swept away by a new
innundation of paper money. Pay
ment of the public debt in green
backs, without increasing their pres.
ent amount, payment in greenbacks
out of the proceeds Of a reduced
taxation, will leave the greater por-
ton of the debt standing for many
Iyears to come. } 1.


There is another part of the plat
form which has pertinent bearing
on this subject 1t is the declara-
ton in favor of zone currency. for
the Government and the people, for
the bondholder and the producer
Now, although nothing is expressly
sad upon that point, we suppose the
platform contemplates the payment
of the duties ON imports in coin as
heretofore. This seems, to us ajus-
tifiable, nay, an inevitable inference
from what is said about paying in
coin such obligations of the Gov
eminent as stipulate for coin upon
their face. The interest upon both
the ten forty and the. FIVE twenty
bonds is payable in coin by the very
terms Of the law, and also the prin-
cipal of the tcn-forties. 1.-THE Gov
ernment keeps this express engage
ment, it must by some means
raise the coin, and no other method
is suggested than by collecting it,
as now, at the Custom house ! Now,
as the platform pledges the party to
pay specie to the bondholders, to
meet their principal which the Law
requires to be paid in coin, it seems
evident that the "one currency for
the Government and the people, the
bondholder and the producer"
must contemplate an early return to
specie payments The zone cur
rency" must mean either uniform
good currency, or uniform bad
currency. 1t is inconceivable in it.
self, and inconsistent with the plat
form, that the old, hard-money
Democratic party should promise
uniform currency of bad money.
The one currency means sound
currency-a currency equivalent to
coin, and at all times exchangeable
for it. One currency of deprecated
greeubacks would be inconsistent
with the payment in coin of that
part of the public obligations which
is ackno wledged by the platform to
be due in coin; inconsistent with
the collection of the revenue from
imports in gold, inconsistent with
the idea that we are ever to return
to specie payments. fai
I Another declaration, in still an
other section of the platform, evin-
ces an intention to make an early re-
turn to specie payments. After
calling for reduction of the pub
lie expenses and a reform of the sys-
tenn of taxation, the platform pro
ceeds thus $50 that, the burden of
taxation may be equalized and les
sened, the credit OF the Government
and the currency made good" The
credit of the Government is not
good'' so long as its promises sell
for less than their face; the curren-
cy is not "good' so long as it is in
fated and irredeemable.