New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-05-06

but insist that only by a Democratic Admins
tration and on Democratic principles can it be
brought TO a successful issue.
The Rebellion has seized the entire material
resources OF The region over which it dominates
Poor Whites who loathc it are ruthlessy con-
scrip.ed to FIJI the ranks Of its armies, stripped
of their horses to mount its cavalry and their
neat cattle and swine 10 feed them, while their
families are lefl TO subsist if they can, by beg
gary and crime. The Blacks who utterly dctest
il are compelled TO grind In its prison-housc in
cessantly, growing food and erecting defcnses
for a cause they intensely loathc. The slave
holding caste has the entire region by the throat;
50 tina. which is lamiarly known throughout
the South as 1.-THE rich mans wal and the poor
man, fight must so on, though not third OF
the Southern people have either faith in or love
for it. The incstinable Ugh. to fog men and
women 20 compel them 10 work fornothiug aud 10
give up their children to be sold at auction for the
profit of the doggcr is AZ stake; and in vain
have Bishop Polk fought, and Bishop Hopkins
written, and many other ecclesiastical dign-
tarics wrcsled the Scriptures to the support Of
organized gigantic iniquity, if that right shall
now be overthrow. So long ~ bloodhOunds can
smell out another cOnsctipt or conmissarcs
snatch food from starving families TO feed their
gauut hosts. so long will the Rebel slaychold-
crs maintain their struggle for the destruction
of their country. But a signal Union victory
would DO very much to break their power over
their hitherto subservient ya'sals, and we hope
Gen. Grant may soon be enabled TO achieve
one.
Meantime, the Government must have money
n great deal of it-aud every loyal citizen
must do his utmost to satisfy this urgent need.
We cannot return to Specie Payment till we
shall have virtually crushed the Rebellion and
ended thc War; then, we soon may. Meantime,
the Government must uac its credit TO the
needed extent, in whatever manner shall seem
most feasible and efficient.
In our judgment, the intcrcs'-bcoring Legal
Tender note has capacities for such an cmcr-
gcucy which have not yet been ialh"mcd.
Banks have been enriched by drawing interest
on the money in most mems pockets the time
has come when at least part of this interest
should accrue to the People who hold the notes.
suppose q Legal Tender paper were issued draw
ing intcrcs. at the ratio Of one cent per day on
each 800, or a little less than four per cent per
annum-no interest TO be paid but for the even
years thl' shall have elapsed between the issue
Of the notes and their presentation respectively
for relempiion-who does not realize that these
notes would form a very acceptable Circulating
Medium The American traveller to The Old
World might deposit these with his banker a.
collateral for any credits he might require,
knowing that each $1,000 80 deposited would
be earning him over ten -cents per day, while
they would be instantly available and convcrii-
Die if required. We are confident that here is
a mine Of Public Credit which has not yet been
half explored.
But there is another form Of intercst-bcarng
Legal Tender which might De employed 70 great
advantage-that ofSlOO $500, and ; .00Onotes,
drawing interest at the rate Of six per cent per
annum in coin bui no interest paya'ic hereoH
til tie note shall be prlS'Ht,d at dc TTrGsrry at
or ecr The expiration Of three ye0Ts from t'c date
of iis issus. Such notes would for time be-
simply Legal Tender passing from hand to
hand. and into and out OF banks, like our ordi-
nary currency; but, after a while, each would
fall into the hands Of some one who would say,
There has already two Three or fourl per
cent interest accrued on this: will hold on TO
IT, ana make this when it falls due Very
soon. these notes, having thus been quietly
Withdrawn from circulation, would bear pc
MUM aud would be turned in the purchase of
farms or houses, stock or goods at or near the
value which time had added to them; that is to
say: a note which carried n years interest
would be accepted in large payments as worth
four or five per cent premium; one that had
two years interest on il would be worth eight
or twelve per cent premium, &c; but they
would never return to the condition Of ordinary
currency, and would not serve 20 initiate the cir
culating medium. Thus very large amount OF
Public Securities would be quietly, noiselessly
absorbed into private chests and safes, and a
very important aid rendered in tiding over the
time, be il shorter or longer, that must yet pre-
ccde the utter collapse and downfall of the Man
Thieves Rebellion.