New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-06-11

Great regulations LOT sagacity nave poe"
made before in the Same easy way
But we trust that we shall not painfully dis
bearten holders of Government Securities when
we tell them that in the opinion of The Times,
though we can crush the revolt, we cannot pay
our debts; because we are heartily assured that
when we have paid them, the same far sighted
writer's will invent bran-new bugbear. At
present, Bull will have it that .4though victor-
Gus we are insolvent. Really We do not re-
member anything cooler than this. With an
immense commerce, with an unequaled agrl-
cultural production with small foreign liabilities,
with monopoly Of two great staples, aud the
abundant production Of third, with people
eminently skilled, by the confession of their
rivals, in the art of accommodating wealth, with
territory capable of limitless production,
with great fisheries and great mines, our public
paper, if VIC may believe The Times, represents
nothing and will soon be good for nothing.
Now, in private commercial circles,
tho man who studiOusly uudermines his
neighbors credit, is usually regarded as a
scoundrel; but perhaps it is more honorable to
crafty jealous spleen by predicting the in
solvency of q nation. For this, as for other
smable exhibitions of dsinterestedoeSs, we
must be prepared. A debt created for the de-
Tense Of the Constitution, In the opinion OF
every intelligent citizen, is debt created for
his own benefit, relief, and prosPerity and
tsose who have freely offered their lives in
that great behalf, will hardly turn consriratOrs
and traitors to avoid taxation. Out OF the
same reverence for law which they have al
ready so abundantly manifested, they will fultN
the pecuniary obligations which the law i'm
poses. What right has the slip-shod speculator
to whom we have been referring TO take it
for granted that the same great West which
has so generously and assiduousy engaged in
The suppression Of one variety of TREASON, will
itself petuanty engage in another Is 1t manly,
is it gentemanly, is it even old-wonaniy-thiS
persistence in the sheerest gossip Cf detrac-
ton this depreciation against which, If 1t
we're but as effective as il is malicious, the
credit of no nation could stand fer year
And is it for England to assert AMI maintain
the novel doctrine that great national debt il
tantamount to great national bankruptcy =
for England, with q debt Of her own so enor-
mously large that no man has ever proposed
any scheme for paying IT without being pro-
nounced mad II is hardly in snch quarter
that we shall seek either for advice or exam
pie The American people, as fully alive to the
evils of taxation as they are aware OF It's ne
cessity, will hardly hug their debt Is oiess-
ing to be sacredly preserved for geneiSuoh
after generation. Once, already, they haze
blotted out the last trace OF public indebted
ness with all impotence which nothing but
solyency could satisfy; aud they have right to
be judged, not by the speculations Of nm ignorant
casust, bat by their own record as it is made
up in history II is hard TO write upon this
topic without seeming to boasts but certainly.
if a nation is to be thus gra.uitously dis
credited, it has q right to plead previous good
character. There has been more noise made
abroad about American Reputation. than the
facts, disgraceful as they were, warranted;
but the credit of the United States of America
and will be in the future "a good as the credit
of England-and we thrk that th, is stating
the case very pildly it is ct this mo-
ment better than thc credit Of more than one
European power, the downfall Of which no.
body anticipates. Until therefore, We commit
un act Of insolvency, We beg foreign writer's
~ whom we owe nothing, to posses their
souls in peace. We are not utterly deficient
in prudence and economy, of the necessty al
which We are every day reminded ard he who
writes us down fools before We have proved our
incorDpe'ency, ia himself included in his own
accusation. There is al abiding compqnsa-
ton ia all our troubles. Through successes and
reverecs, through doubts and distractions soi
ess than through encouraging good iortunsr
we are making for ourselves antiquity and
q bistory--we are consolidating Il nationality -
We are storiteup precious iradltons-wc are, in
the midst OF war, becoming worthy OF thc
blessings Of peace. Those who believe TINT
there ia nothing for us but a ruinOus and
irremcdiable dissolution, must be shamcfuly
ignorant Or coniemptibly bosOtted b. spleen
and prejudice. No ration could be more
grateful than ours, not for foreign arms taken
up in our behalf, but for foreign sympathy;
vet if if cannot be ours, without sacrifice OF
principle or honor, certainly there is no nation
that can better afford to do without II.
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COLOB-NOHTH ANv sOUTH.