GREENBACKS AND BONDS. 541 



diation to death, I will fight the bondholder as resolutely 

 when he undertakes to get more than the pound of flesh. 

 We never agreed to pay the 5-20 bond in gold; no man can 

 find it in the bond, and I never will consent to have one 

 payment for the bondholder and another for the people. 

 It would sink any party, and it ought to." Waders Letter 

 to Denny. 



Oliver P. Morton, whose patriotism to his country and 

 devotion to the rights of the people was unquestioned, 

 said, when the bill to pay the bonds in coin was on its 

 passage": 



"And now I propound the question: It is either 

 intended by this bill to make a new contract or it is not. 

 If it is understood to make a new contract I protest against 

 it. We should do foul injustice to the government and 

 people of the United States, after we have sold these bonds 

 on an average of not more than sixty cents on the dollar, 

 now to make a new contract for the benefit of the bond- 

 holders. It gives to those laws a construction I do not 

 believe in and that I have shown is contradicted by at least 

 four acts of Congress. 



"Sir, it is understood, I believe, that the passage of a 

 bill of this kind would have the effect in Europe where 

 our financial questions are not well understood, to increase 

 the demand, and that will enable the great operators to sell 

 the bonds they have on hand at a profit. It is in the 

 nature of a broker's operation. It is a bull movement to 

 put up the price of bonds for the interest of parties dealing 

 in them. This great interest is thundering at the doors of 

 Congress and has been many months, and by every means 

 attempting to drive us into legislation for the purpose of 

 making money for the great operators. This is what it 

 means and nothing else." Speech in U. S. Senate. 



Such was the language of the representatives of the 

 great Republican party. Even John Sherman, the Janus- 



