The Democratic press. (Eaton, Preble County, Ohio) 1860-1865, 1862-03-13
The Paper Age
from the London Times, Feb. 81

11uiOllNn hhS pNoHNA Ah''"SH ~ |
guild, her silver, and her iron age,
and the period on which she il ell.
tering must not derive Its historical
title from any of Il metals, preci-
Gus or otherwise. The metals are
gone, and piper, the great plastic
creation of modern times, reigns in
vheir stead. Mr.. Gladstone taught
US two years ngo that the time was
soon coming when We might ex-
pect to drive about in paper car
riagcs, protect ourselves from the
showers of IN English spring with
paper umbrellas, and defy the colds
of our ~slIarrest winter in rnrer
great-c0ats. These are, NO doubt,
considerable achievements. but ia
per can do far mightier things than
these. 1t can become tie vehicle
of promises, when arc accepted as
c~quivalcn: to performance. Not
being wealth itself. it can discharge
all the duties of wealth F.; not being
credit, it can do things that credit
cannot attempt. In America it
rcigns supreme, and does at this
moment duty for both wealth and
credit. But paper, like many other
things, is a good servant, but Il bad
master. Those who invoke the
+ aid of this mighty magician ought
to study well the peculiarities Of
his character, and to keep them.
selves within that charmed circle
in the precincts Of which alone is
safety to he found. Wehavebought
our own experience, and have as-
certained how far we may go, and
where Il useful agent degenerates
into IL cruel and c%apricious tyrant.
1t is, we fear, of little use to
argue with persons in the frame of
mind which at the present moment
predOminates among American
} statesmen. But there are some
few matters which it is fitting to
recall even to the minds of al ig-
norant Republic, and its interested
or incapable leaders. There il no
source of human wealth but labor,
and no substitute for wealth bnt
credit. The Government of Amer
lea is engaged in II vast and most
= costly war, and is endeavoring to
carry it on without oneerthe other.
THERE'S mucl wealtlinth country,
but Congress has hitherto been con
t tent to leave it to fructify in the
pockets Of the people. Modern
America is the exact contrast OF
ancient Rome, where private for
tunes were small, and the public
treasure great. The amount OF the
wealth of which Congress can dis
pose is poor indeed. The heap is
large, but little is measured out to
I the wants Of a country so loudly
y praised aud 80 feeDly supported
q In fact, from the first beginning OF
. the war, the Legislature and Elk
> ecutive, while vieing in their prai.
ses Of the patriotism Of their fellow
, citizens. have carefully forhorne tc
. put that patriotism to any NOR,
. severe test than the receipt of 81:
a-month for doing nothing. or thu
< purchase and sale of lucrative con
tracts for the supply of the 6OO,O Oi
men thus paid and thus employed
The system was too good to last
and II war begun in April finds tint
United States in the middle of Jan
J. nary unable to borrow anotheI
shilling from any quarter, f"rcigl
y or domestic, and wofn'ly pressed
e by the opportunities OF innnmer
able creditors. Taxation must III
is tried. but everybody acquainted
~ with America well knows tina
i. nothing is to be got by taxation
" Doubtless we shIll hear ct Bill
III passing through Congress imposing
h. the most fearful burdens. Us tar Il
in words and figures go, upon the citi
| zrnS of the United States. TIL
#. form must he gone through, an
is will, no doubt. he gone throng.
with all proper decorum. But, Il
for raising these taxes, rs for treat
;" ing them ~ anything more tina
IA expedients for Keeping MP the NJ
m pearance of so!vency AMI OF patrl
he o,ism long after the reality hit
'r- Disappeared, nobody knows bette
ny than the very Legislature whic
he will affect to impose them that tn
thing is simply ridiculous. Their
err il but one inference to be draw
err by sensible aud sober.minded pc
he sous from these plain facts. None
10. il gone-credit, as usual has flow
cd after her, aud II patriotic nation d'
.th clines to sAhmit to the 0n'y lrglt
yer mate resourcethat remains-a larg
be direct taxation. No rcnsonnb
ms conclusion remai!.s for the Mort
hut to abandon IN enterprise
m. which its resources have prove
HI, unequal, aud to make II peace rel
bo dered necessary by its Inability
N. carry on war upon any oftlIe exp
dients open to the choice Of Il n
ton endowed with ordinary prov
~ dence, and anxious to prevent
W single error from dragging 1t dow
II" into tile lowest depths OfinsOlvent