Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1864-04-14
March, 77s, 81 in coin was worth SIG ia paper

March, 177s, 81 in coin was worth SIG in paper.
September, 1879, 81 in coin was worth sis in pa
March 1880 ST. in coin was worth $40 in paper.
December, 1850, 81 in coin was worth $I0O 10 pa
per.
May, 1871, 81 in coin was worth $500 in paper
MOI long aIter these days the holders of Goyernmen
money paid $4,000 for ham, and $4,000 for half
pound of tea
Nobody could complain that the debt was not fairy
contracted But failure and reputation were none the
less inevitable. But who let us ask, when the people
come TO their Senses will respect the debt which this
Administration will leave upon the country? To he
sure they will be told that the debt must be honestly
paid. Rut who promise that the people will not
take it into their heads to ask if it was honestly con
tracted? If one half is due to the partsan-ofic
plumber and the other half to expenditures reckessy
uGconstltunonaly incurred, who dare affirm that the
people Will not, 10 some moment of desperate impa-
thence under the crushing load throw the whole burden
from their shoulders? The fool the fanatic may
smut his eyes and say all is right, but the wise and the
prudent man will calmly question history and the pas
slons of men, and enifsvor by the past to form udg
ment of the future.
These will be great and absorbing questions pretty
tsoon:
How much of this BIT WAS stolen Fl ON tie treasury
by the party who sadded us with it
Is 1t Constitutional expenditure OF the peoples
money to buy negroes from the border States, and
let them lose to compete with US in all the labor
kets OF our country?
Is it constitutional to take money 10 send squads
OF negro-klseing men and women from Yankeedom to
teach Anticipated darkeys in the Caroinas how to read
the New England primer
Is 1T constitutional to spend the peoples money in
annually transporting apartsan portion of the army to
and from the battle field control the Northern cleo
tiaas
The partisan knave will profess to spif "treason in
these questions; but the wise man and patriot will re-
gard them as being likely to some day influence the
MINDS and actions OF tie people Those who blndly
throw themselves the national faith and the point of
honor for the burdenng labor with enormous unhear
able contributions, and transmitting that burden I'M
Questioned to poseriy, are neither patriots states
men The working classes who cannot be held either
IN their own persons those OF their ancestors to be
IN any degree responsible for this reckless unneces ry
and unconstitutional expenditure and to be charged in
perpeuly with burden not to be levied on any pro-
perty presumed to have been benefited proece by
that expenditure but On their muscles, brains and
sineWs generation alter generation.
The theory OF the Administration is that the entire
property and industry of the nation are mortgaged for
the redemption of its paper promises to pay 1t seems
to be obvious of the fact that all this property is in
the hands of Individuals or depends upon the result of
Individual enterprise. Behind all this sits the indvd
ua will on which depends entirely the question of the
redemption OF Mr.. Lncoln's paper promises to pay
We have seen that the whole surplus income of the
country will fall good way short of paying the
interest on the debt, and must sink interest and
principal tog ether, at distant day, unless change
speedily comes over the dream of the Administration.
hat change is not to be hoped for. AS we'll look for
life in the dead to expect wisdom in the Admins
tratlon. Must the country, then, abandon the last
hope OF escape from financial ruin 1t seems inevita-
BILE. But there is redeema BILE star shining in this
night of a finance. The day that breaks the paper
bubble of the Administration, will also stop The use
less, the horrible shedding of blood of country
men! The moon sheds its bright beams upon The
gloomy vault of the graveyard-so the star of peace
shines above the dark gulf OF bankruptcy.