The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-06-17

.--.--.-A~>---.. A>- --------~--~s ------
him explain how they came to fall Inst VIII
be more diflcult we presume, than his expla-
nation Of tho proposition that national debt
will sustain national industry-as We could
not have protective tariff without debtor
his revival of the old arguments in favor Of q
United States bank, under tho new name Of "a
uniform national banking currency" Un-
doubleday, as Mr.. Jay Cookies Bohemian says,
national debt win change the politics Of
the country" All changes are not improve
ments however; and tho creation of countless
number Of new Offices to be filed by new
officials, is not to be regarded with compla-
eency. Already swarm Of revenue assessors
and collectors have settled down upon the
hand like locusts, and make living by prying
into other folks business, and consume one
fourth Of the taxes they collect. Mr.. Jay Cooke
and bis Bohemian may pray that this nuisance
be perpetuated and extended; but the majority
of the petitions are upon the other side, and we
hope that Providence will go with the majority,
as He goes, according to Napoleon, with the
heaviest artillery.
But why waste all this space, allsths paper,
all this ink and all this argument? Mr.. Jay
Cooke and his Bohemian wind up their article
by declaring, not only that the national debt
ought not to be paid, but that it could not be
paid, " because it is not possible, and that TO-
body would take thsWppey If we offered to
pay 1t. "There is nots lhis continent" says
Mr.. Jay Cookies Bohemian, ga holder of q
seven-thirty note. man or woman, which wraps
up the savings Of labor, who would consent
to its present payment or its payment ever"
The grammar of this quotation is not so clear
as its meaning, which is further reinforced by q
splendid sketch, descriptive of commissioner
rollinga barrel of gold across the continentand
offering to pay off the national debt without
finding anybody who win take his money. IF
this be true, there is an end of the matter; but
let Mr. Jay Cooke open an Office in this city
and advertise that he will redeem the national
bonds in gold at par and he will soon see how
true his picture is. The article which he has
hired a Bohemian to write, and persuaded the
Tribune to publish, may suit the revenue Off
cials, and may not be displeasing to the paper
millionaires, the stock-jobbing aristocracy, and
VIC mCH VIII uAivo AOuA Ola Va eOA AOA0Co ~
the Park and build private opera houses in the
haylofts over their stables, where the perfume
from below mingles with the perfumes of the
toilet; but to the intelligent masses Of the
people it will seem the most arrant nonsense
and rubbish. Mr.. Jay Cooke Is smart broker,
but he knows nothing Of the. history and the
philosophy OF finance. The national debt Of
England cost that country fifteen years of
debate, three commercial revulsions, the failure
Of nine-tenths Of the tradespeople, ten or twelve
riots, and an insurrection which the Duke Of
Wellington could scarcely quell, before British
statesmen could get back to those sound finan-
cial principles which Mr.. Jay Cooke now ignores
and ridicules, and over the temporary suppress
sion Of which in this country Mr.. Jay Cookies
Bohemian, like o burlesque financial Nero,
makes merry and is, glad.