Ruinous as must be the effect of a redundant and depreciated currency upon all industrial pursuits, the injustice to our gallant army and navy, regulars and volunteers, would be attended with extreme peril. Upon their courage and endurance we must rely for success. We have pledged to our brave troops, who are wounded or dying by thousands that the Union may live, such pay as to enable them while fighting our battles to make allotments of portions of their money for the support of their families during their absence. We have promised pensions also. These are all solemn pledges on the part of our Government, and our faith is violated if this pay or these pensions are reduced. But there is no difference between a law directly reducing this pay and these pensions, and the adoption by Congress of the policy of a redundant and depreciated currency which will produce the same result. Every vote then in Congress for such a policy, is a vote to reduce the pay and pensions for our troops, and to annihilate the allotments made by them for the support of their families. What effect such a policy must have on our troops and the maintenance of the Union is but too palpable. It is disbandment and dissolution. Every such vote is given also to reduce the value of the wages of labor, and for increased taxation, to the extent, as we have seen, of $408,800,000 per annum. It is a vote also to reduce our exports and revenue from customs, to paralyze our industry; and finally, in its ultimate results, it is a vote against the war, for repudiation and disunion, and hence every disunionist will oppose the plan of the Secretary.