Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1864-09-21
SHALL We ASSUME THE REBEL WAR
DEbI

The leading newspaper organ OF the Nc
Clellanites Is the New York World. Du-
ring the exciting political canvass or 1862,
this paper ventdred to put forth several ar
ticles by way OF feeler, suggesting the as
sumption by US of the rebel war debt as q
means OF conciliating and restoring the Uni
on. So vehemently was this denounced that
it had TO be disowned. But the proposition
has ever since been entertained blythe DEM
ocrats, and really forms an essential part OF
their programme, although they do not dare
to avow it openly This debt is mainly in
tn hands of English capitalists, the repre-
sentative man of whom is Rothschild. 1t Is
well known that that great capitalist controls
the tone of the London Times, which paper
he has used against us from the commence
ment Of the war, to depreciate our credit
and to aid that of the rebels. This interest,
with Its innumerable ramifications, has pro.
duced the greater part OF i'll feeling against
Us in the English press and people.
The principal American agent of the
Rothschiids Is Auguste Belmont, a WELL
known Democratic politician, who has been
the moneyed man of the Mcclellan move
ment, and who figured largely at Chicago in
IN securing his nomination. Ii the real
proprietorship of the World could be faith
omed, 1t would doubtless be found that Bel
mont is at tn bottom as capitalist. The
advocacy of the assumption Of the rebel
debt In 1862 clearly showed the cloven hoof.
Mcclellan, under the manipulation of Bel
mont and those whom he controls, has been
made to say in his letter of acceptance that
''the condition Of our finances, the depreci-
alton Of the paper money, and the burdens
thereby imposed upon labor and capital,
and the necessity OF a return to a sound sys-
tenn, are subjects OF not less vital
Importance in war than peace. This
points to what Belmont and his cronies
have been clamoring for, the withdrawal of
the greenbacks, and resort to gold bonds
solely for means to carry on the govern
ment
Bearing these facts in mind, the follow
ing passage in McClellan's letter of accep-
tance has peculiar significance.
The Union was originally formed In a
Esprit of conciliatiou and compromise to
''restore and preserve it the same spirit
must prevail in our councils and IN the
hearts of the people.
What compromise is here hinted at we
leave our readers TO conjecture. Mcclellan
insists only upon one point-the Union. He
says, emphatically, '''Ihe Union is the one
condition of peace-we ask no more" DO
we really ask no more? The rebels demand
that we assume their debt. Are We ready
to do so? II seems from this passage that
tJeflefti tcCiSiia0 Is. 1 mere can Dt HO Ills
taking him. His language is so plain as to
render misconc option impossible. This ex-
plains the activity and energy of Belmont.
He is working ike beaver to render valid the
rebel bonds held by his principals in England,
and to effect such an object they can afford
to spend money literally. Nor are we left
in the dark as to the amount Of this debt
which we are to be saddled with, for late
Richmond paper tells us that it amounts to
81, ,SO0O00 900 BY the time peace could
be made it would reach 81, 900, 900, 900, so
that by assuming this rebel debt, by way of
Cancellation and compromise, we should have
a debt amounting in all to $4,000, 900, 600
equal in total to the present enormous debt
of England. This is McClellan's idea of
sound financial system" Every man who
owns Z tied States bond may Judge for
himself what chance he would stand of get
ting either principal or interest in gold in
such an event as this.