Independence, with its preamble of Unity, and its dedication of the new Nation to Human Rights. And now it is for us, their children, to keep this Unity, and to perform all the national promises thus announced. The Nation is solemnly pledged to guard its Unity, and to make Human Rights coextensive with its boundaries. Nor can it allow any pretension of State Rights to interfere with this commanding duty. * * * * * There is still another issue, which is subordinate to Reconstruction and dependent upon it, so, indeed, as to be a part of it. I refer to the Financial Question, with the menace of Repudiation in different forms. Let the Reconstruction Acts be maintained in peace, in other words, let peace be established in the Rebel States, and the menace of Repudiation will disappear from the scene,--none so poor to do it reverence. If it find any acceptance now, it is only in that revolutionary spirit which assails all the guaranties of peace. Repudiation of the Reconstruction Acts, with all their securities for Equal Rights, is naturally followed by repudiation of the National Debt. The Acts and the Debt are parts of one system, being the means and price of peace. So strongly am I convinced of the potency of this influence, that I do not doubt the entire practicability of specie payments on the fourth of July next after the inauguration of General Grant. Nay, more, it is my conviction, not only that we _can_ have specie payments at that time, but that we _ought_ to have them. If we can, we ought; for this is nothing but the honest payment of what we owe. A failure to pay may be excused, but never justified. Our failure was originally sanctioned only under the urgency of war; but this sanction cannot extend beyond the urgency. It is sometimes said that necessity renders an action just, and Latin authority is quoted: _Id enim justissimum quod necessarium_. But it is none the less untrue. Necessity may excuse an action not in itself just, but it is without the force to render it just; for justice is immutable. The taking of the property of another under the instigation of famine is excused, and so is the taking of the property of citizens by the Government during war,--in both cases from necessity. But as the necessity ceases, the obligations of justice revive. Necessity has no rights, but only privileges, which disappear with the exigency. Therefore do I say that the time has passed when the Nation can be excused for refusing to pay according to its promise. But it is vain to expect this important change from a political party which emblazons Repudiation on its banners. * * * * * It is in two conspicuous forms that Repudiation flaunts: first, in the barefaced proposition to tax the bonds, contrary to the contract at the time the money was lent; and the other, not less barefaced, to pay interest-bearing bonds with greenbacks, or, in other words, mere promises to pay without interest.