The Republican platform condemned the reckless expenditures of the Legislature, its efforts to disfranchise soldiers, students, and all having African blood in their veins, and squarely declared for the ratification of the fifteenth amendment.
The Democratic Convention, which assembled July 7, 1869, denounced the fifteenth amendment, and had much to say about the reserved rights of the States. The platform contained these resolutions, which sound, at this day, like an inscription from the tombs of the Ptolemys:
"Resolved, That the exemption from tax of over $2,500,000,000 in government bonds and securities is unjust to the people and ought not to be tolerated; and that we are opposed to any appropriation for the payment of interest on the bonds until they are made subject to taxation.
"Resolved, That the claims of the bondholders, that the bonds which were bought with greenbacks, and the principal of which is by law payable in currency, should nevertheless be paid in gold, is unjust and extortionate; and, if persisted in, will inevitably force upon the people the question of repudiation."
Here we have the bald proposition to repudiate the interest on the public debt unless it is taxed contrary to law, as made known by repeated decisions of the Supreme Court of the United States; and secondly, the direct threat to repudiate the principal of the National debt unless it is paid off in broken promises to pay. As the greenback is simply a debt or a due bill, this paying debts with debts was a patentable discovery in the science of finance. Taken in connection with the declaration of Vallandigham in the canvass before, that the whole bonded debt should be immediately "paid" in greenbacks, the resolution simply meant that the war debt should not be paid at all. This robbing the men whose money saved the Republic was not acceptable then to the farmers and laborers of Ohio, and will probably not now be more acceptable to the capitalists of New York. It is well, however, to recall the antecedents of a party that first tried to get into power through discreditable expedients, before resorting to a declaration of honest principles in finance.
The convention took a "new departure," and, putting aside Ranney and Pendleton, nominated General W. S. Rosecrans for governor, who was then absent from the country. This nomination was mainly brought about through the zealous efforts of Messrs. Vallandigham, Callen, and Baber.
The opinions General Rosecrans entertained of his new-found friends were not favorable. In a letter dated February 3, 1863, from Murfreesboro, Tennessee, General Rosecrans, in speaking of the slave-holding insurgents, had used this language:
"Wherever they have the power they drive before them into their ranks the Southern people, and they would also drive us. Trust them not. Were they able they would invade and destroy us without mercy. Absolutely assured of these things, I am amazed that any one could think of 'peace on any terms.'
"He who entertains the sentiment is fit only to be a slave; he who utters it at this time is, moreover, a traitor to his country, who deserves the scorn and contempt of all honorable men."
Rosecrans declined the nomination, and George H. Pendleton, after just enough hesitation to impart a proper value to his consent, consented to fill the vacant place at the head of the ticket.