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Editorial April 29, 1870

The State Rights Democrat

Albany, Linn County, Oregon

What is this article about?

Excerpts from Democratic platforms (1866-1870) affirm commitment to paying U.S. public debt in lawful currency as contracted, reject repudiation accusations, support taxing securities, and criticize the administration's bond redemption policies.

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"We favor the payment of the public debt of the United States as rapidly as practicable; all moneys drawn from the people by taxation, except so much as is requisite for the necessities of the Government, economically administered, being honestly applied to such payment, and where 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 money of the United States.—National Democratic Platform of 1868.

Resolved, That the assumptions of the opposition that the Democratic party is in favor of repudiating the public debt, and that it is in favor of nullification and secession, are slanderous and false.—Oregon Democratic Platform of 1866.

Resolved, That good faith and justice to all demands that the public debt shall be paid in like currency as contracted, and we favor action by Congress submitting United States securities to be taxed as other property.—Oregon Democratic Platform of 1868.

We are willing to pay our national debt in strict compliance with our contracts, whether it was made payable in gold or greenbacks, but we are unwilling to do more than that; and we declare that the five-twenty bonds are payable in greenbacks or their equivalent; and we condemn the policy of the Administration which is squandering millions of money by buying such bonds at a high rate of premium when the Government had the clear right to redeem them at par.—Indiana Democratic Platform of 1870.

What sub-type of article is it?

Economic Policy Partisan Politics

What keywords are associated?

Public Debt Greenbacks Democratic Platform Debt Payment Currency Contracts Bond Redemption Taxation

What entities or persons were involved?

Democratic Party National Democratic Platform Oregon Democratic Platform Indiana Democratic Platform The Administration

Editorial Details

Primary Topic

Democratic Stances On Public Debt Payment And Currency

Stance / Tone

Affirmative Of Contractual Debt Payment In Greenbacks, Critical Of Administration Policy

Key Figures

Democratic Party National Democratic Platform Oregon Democratic Platform Indiana Democratic Platform The Administration

Key Arguments

Favor Rapid Payment Of Public Debt Using Tax Revenues Economically. Pay Government Obligations In Lawful Money Unless Specified In Coin. Reject Accusations Of Repudiation, Nullification, Or Secession. Pay Debt In Currency As Contracted And Tax U.S. Securities Like Other Property. Comply Strictly With Debt Contracts In Gold Or Greenbacks. Five Twenty Bonds Payable In Greenbacks Or Equivalent. Condemn Administration For Buying Bonds At Premium Instead Of Redeeming At Par.

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