The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1865-02-11
OUR GRAvEsT PERIL.

WloIOof
by brave and veteran soldiers. We do no
disparage the ability Of Lee, Johnston ant
Longstreet as Generals nor Of Beauregart
as an engineer, when we state the notori
Gus fact that the strength Of the Rebellion
is to-day very far less than when the lowe,
Mississippi was its main artery, when it.
flag hoated proudly over Norfolk, New
bern, Nashville, Knoxville, Chattanooga
Memphis, Little Rock, vicksburg, Natchez
and when its million sqnare miles of ares
was .permeated by Railroads and Tele
graphs which conveyed its armies from
Virginia to Texas in & week and flashed
its tidlngs from the Rio Grande to the Pc
tomsc in q day. The Confederates hay.
struggled desperately against odds which
have nevertheless been steadily augment
ing, until they are left but the choice be-
tween an early, honorable pacifcaticn anc
an ultimate unconditional overthrow
Upon no basis known 10 History or to Wa,
can they hope to do more than postpone thu
issue which has become inevitable.
Nor do we regard with much concern the
bug-bear of Foreign Intervention W.
have undoubtedly many ill-wishers in Eu.
rope; but our vast Naval armamen:s. 81
rapidly created, are decidedly in tho way
of the realization OF their desires. Grea,
Britain will not attack us; and no othe,
Power would care to send it's fleet acros.
the Atlantic to try close hug with har.
Dor fun o! our DictatCrs and Puritans.-
France alone might have bothered us two
or three years ago; now, the times are
bravely altered. We may yet be called t.
encounter and to battle hostile machina
tons from abroad; we are most unlikely
to be confronted by hostile broadsides with.
in the few months that the Rebellion may
still keep its head above water. Only by
feeding Rebel hopes that are certain al
length TO be blasted are these Vaccinations
likely to work us harm.
Our real, serious, ever-Present danger is
that OF Financial collapse and q resulting
Military impotence, which, though tempo
nary IN its duration, may be permanent in
its effects. And this peril seems TO US the
more formidable that so very few appear
to realize or gravely apprehend it.
To-day, One Million Dollars in Coin will
buy Two Millions of United States
Bonds, payable in coin ten years hence
with interest At Ave per cent per annum,
In other Words. Whoever Will lend our
Government One Million Dollars in specie
will receive therefor One Hundred Thou.
sand Dollars in coin per annum and Two
Millions at the close Of ten years-Three
Millions in al for loan Of One Million
ten years. And we advertise our own
want OF faith or want of pluck by actually
preferrlng to borrow money at an interest
of 7-30 per cent payable in our own Gov
eminent paper than AT per cent payable
in solid cash. IL not this the same rs say.
ing that we do not expect to see the Rebel.
lion put down this year. or do not mean
thereupon to resume specie PAYMENT
moro faith in us than We seem to have fol
ourselveo3
But look at few subordinate facfs:
Our Minister Of Finance has lust been
chosen to the Senate, with general under
standing that he prefers . seat in that bo-
dy to his present most responsible and ar
duous Cabinet position. We think he has
q right to judge for himself in which OF
the TWO posts he can beat serve his coun-
try. But, If he IL to stay in the Cabinet, he
should frankly cay 80, aud end all specu-
lation % TO his successor; while, II he is to
return to the Senate, he should insist on
having that successor at once IN the Trea-
sury, so that Congress may know what
measures Of Finance are required Of It in
the judgment Of that functionary. It is
madness to let matters DRIFT till the 4th o,
~ Of the Treasury that he could have pro-
vided the necessary means had he been
made Secretary six weeks earlier; but now
he must wait till new Congress can be
hastily assembled out of season, after the
campaign shall have been well nigh Its
culmination.
We have a leader Of the House of Rep.
resentatives who honestly believes that
Congress may by statute make its IRE.
deemable paper issues. however boundless
IN volume, equal to gold. dollar for dollar
and who deems it right and expedient tx
make il a crime to exchange coin for pa.
per at other than their nominal rates re.
spectively. OF course, BE cannot believe
that there is any need Of retrenchment Of
economy; since Congress, upon his theory
can at any moment replenish the Treasury
more OF Gyeenbacks and decreeing that
they shall be deemed fully equivalent to sc
much Gold.
We have Congress wherein the idea Of
Frugality has no place-wherein the sug.
gestion Of Retrenchmenti is accounted puer-
lie or demagogical. II this were not 50,
how should the Whisky gamblers have
escaped taxation last winter? Why should
no: the Mileage swindle have been arrest
ed? Here come two new Senators from
Nevada to serve thirty days in this Con-
gross, and take some SIC. COO each-or over
$500 per day-out Of the Treasury therefor,
We do not blame them for this; for we pre-
sumo they will take exactly what the law
allows them: we are reproving the law it.
self, and the maker Of the law, which jig
Congress. A regiment might be paid the
money que ~ iOE AIS 1AtSG SlA UlOUlUSI ser.
vice out Of this monstrous grab. And
while there is to. day at least Ono Hundred
Millions due 20 our soldiers for their Sc
we're campaigning, which Mr.. Fessenden
would gladly pay if he knew where to get
the money, we have the House stopping
the Deficiency bill TO coerce the Senate into
adding twenty per cent to the legal COM
pensatien OF It's half-employed and gener.
opsly paid underlings, and . Senator
gfavelv proposing an increase Of the pay
Of members from s, 600 to to =, 600 per an
mum!
Men and brethren! you are fearfully
stretching cord that will snap one Of
these days and let good many into the
mud. Be enireated to forbearl
We are among those who hold it the sim
pie duty Of the good citizen to pay to the
uttermost every tax levied to sustain our
Government in its fearful trial, and then
to lend it all he can spare beside. We scout
the idea Of Reputation under any circum-
stances, and hold him who suggests It as
barly less than traitor. But, though the
Nation will never repudiate Its Debt, Il
may properly repudiate those who waste
fully, wantonly augment it. And It seems
to ~ the most obvious dictate Of even the
coolest patriotism to resist every project
that would increase public expenditure
n, C1nv iotiuop nirns1vn cfanNoa Max fr1l-