New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-05-12

PEACE' AND w Ak' DE nOshf \ ~
We know men who call themselves Demo-
Gratis who stand fully and heartily by the Gov
eminent of the United States in its mortal
struggle with slaveholding treason: these we
love and honor rs countrymen and patsots.
There are Others calling themselves Democrats
who-though they supported Gen. Jackson III
his stern resistance to South Carolina attempt
to nullfy the laws and defy the authorities Of
the Union-now strangely say that there is no
constitutional power in the Federal Govern
ment 10 cOerce a State--that the War for the
Union is mistaken and unjust-that we ought
to give il up, even at the cost Of Disunlon, and
then try 10 coax the shareholders back into some
sort Of partnership by adopting their principles
and submitting to their utmost exactions: these
we confront as manful antagonists, not fearing
to be overcome by them, because the People
understand them. BIT the pretended War
Democrat who does all that man can do to
cripple and paralyzc the prosecution of the War,
is the basest compound of knaye, lhypocrte, and
traitor, that this century has known; and our
contempt for him is only exceeded by our
loathng.
The organ in our city Of this class of Demo
Gratis in an elaborate article on Finance, made
yesterday this proposition:
AS paliatycs Tor the coming crisis suggest tha,
me Mr. Tork Cify bank, shall all al h GorerHneHi boHd'
ty hod and buy Poid rih The proc,sd hcrecf ard en-
cage ns an associate body in the business OF buying
and selling foreign bills u exchange. using their goa
on deposit in Europe as a basis for drawing bib
lnuk Ulagsl the
power Of MI ChHse to urc We also suggest that the
President Of the United states shall supey bis CLERK
and the peoples servant the Secretary OF thc treasury
and compel Aim 10 reduce hs pap0mony issHe' Of ne
which are The sole cause OF all our financial
chmgc his tenforty five per cent loan irto SIX per
cent loan. payable IN gold aud 20 receive temporary
loans seven per cent interest payable In currency
H. other words. let Boz adopted 10 compel
our honorable secretary of the Treasury TO obtain For
the use 81 Government the capital ~ the nation al
ready IN existence, without furtl 81 attempting the folly
Of dilung existing captal by the means of issuing
money nconvertbe piper promises to pay IN the shape
Of RIccuhacks and other devices FOR robbng The mass
Of the people for the benefit VI the few privileged pot
cal and rich clnsses.'
The New-York Banks and bankers probably
hold not less than Two Hundred Millions Of the
securities of the Government, whereof at least
two-thirds are bonds To throw these forth
with on the market and convert them into gold
'''NNN'
least 100 per cent. That would increase the
market price OF everything eaten, worn or other
wise consumed By the People at least twenty
five per cent above the present exorbitant rates
bringing the poorest classes to the very verge
if not beyond the verge, of actual starvation. II
would so disorganze Industry and derange
Business that general stagnation and chaos
would be inevitable.
The Government must borrow at least Fifty
Millions per month or stop the War. With the
Banks gorging the market with their Federal Sc
curites, this could not be done. Convert the
ten-iorty loan into six per cent, pay seven
per cent on temporary deposits, and do what
ever else he might Gov. Chase could not obtain
the money absolutely needed to meet the fear
full drain Of this gigantic War. Not even at ten
per cent could the requisite sums be obtained,
if the Banks were to throw their Stocks on the
market and convert the proceeds into Gold.
TO "reduce the paper-money issues of the
country" under such pressure would be sim
ply impossible. They must be suddenly and
enormously increased. You might as well ask
Mr.. Chase to pay off the entire National Debt
in gold tomorrow as TO ask him to reduce his
paper issues while the war is at its hight, and
the Banks flooding the market with Govern
ment Securities. National bankruptcy-repu-
diation-the conceded triumph of the Rebels
such are the obvious results to which the policy
urged in the above extract inevitably leads.
Can we be wrong in esteeming the outright |
Peace Democrats of the Vallandigh CHAM Long
Ben. Harris school, more manly and less dam
gerous enemies to the Government than spch
War Democrats US the author of the above
propoSition'