The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1865-06-16
James Gordon Bennett Psying OF the
National Debt.

q. ..uss1,-
James Gordon Bennett PsyinE OF IN
National Debt. .-..
! 1884 MADISON AVENUE,
New York, May 81.
ITO James Gordon Bennett, ESQ:
You aud Bonner are rich. Fort,
Thousand is nothing to either! Bu
what other journals could pay a
much on call2 You insult your les
prosperous contemporaries by YOU
audacious proposition! Vanderbilt
is rich-with Pacific Mail, Harlem
and Hudson, at present quotations
What is five hundred thousand [,
himP Stewart could pay q million
with gold at two hundred and fifty
Would you like to have rich mar
receive you with open arms, offer &c
lend him half q million! Wealth is
credit; credit is confidence. TAX,
away that and down comes your par.
tltion. We live in the age of paper
(Iour fortune is paper Herald. II
Paper houses, paper banks, paper
Constitutions. Men marry paper
wives, and unto them are born paper
children. The wealth of the rich is
already in Government paper; pay it
of, and they are poor. Suppose YOU
get five thousand names instead of five
hundrsdp Only one hundred and
forty. five thousand more will be re-
quired! AS bit of bunkum for
European consumption your idea is
good. The advertisement is cheap;
as no margin is required, and ex-
pcct to be q millionaire some day,
put me down for one hundred shares.
Will you take it in Prairie Dog?
Our National debt is credit-a Ma
tional firm-thirty millions Of part
ners-capital, three thousand mil
lions. Craftsmanship begets conf
dence-contidence guarantees debt:
then our debt is gold, capital, wealth.
Destroy either, and all fail. At
Washington Hights, you told me that
you Followed in pnnina Imitation
built Chicago; its founders were
ruined, but its palaces stand. Our
debt guarantees American industry;
pay 1t and free trade is ruin. Look
at Turkey, Portugal, India under
England's pestilential tutelage.-
Nothing but intense vitality and
enormous resources saved America
from Democratic policy. Toadyism
on the brain begat free trade. Bright
and Golden fired their double barrel
bringing down both birds. Aboli-
tionism hit Wings. Free trade hit
Democrats. America, however, will
bag the game instead of England
Yet, over the grave of slavery, by
paying the debt, which is protection,
you would resurrect serfdom, which
is free trade. Continental currency,
French assignats, Confederate paper,
were not backed up by commerce;
hence disaster. Let the Greenback-
Chase McCulloch system stimulate
commerce, manufactures, agriculture
instead of trying to control gold or
stock market--and new industrial en-
terprises will create general pros
perity. Dispatches go by wire now
not mail. We cross the ocean in
ten days under steam, instead of six
ty under canvas. England took duty
off Of corn because Ireland was starv-
ing and emigrants flowed America
ward. She called it free trade. We
fools cheered. 1t was protection to
her labor. England (having five
million dollars in three
thousand cotton mills) took duty Off
of cotton because we undersold her
in the East. She called it free trade.
We idiots cheered again. 1t was
protection to capital. Both these
great political events were acts of
protection, which we in our miracu-
lous wisdom interpreted free trade.
Prohibit export of cotton, and
make foreign fabrics contraband;
erect rolling mills, iron founderies;
establish potteries; cultivate sorghum
and sugar beet; plant mulberry trees
for silk worms; increase woolen fac
tories, cotton mills; manufacture
hardware; oper westward the worlds
highway to China, Paris to Pekin in
thirty days, and speak the American
language; in short, be American
Let McCulloch introduce the Credit
Mobilier system, by using debt TO
start, through National Banks, facto-
ries everywhere, and skilled artisans
will pour In, taxes will be reduced
and the Grand Imperial Continental
Republic is established for q thou
sand years. And
Then America, crushed I o oa rth, will rise
again
The eternal years OF God arc hers.
But England, wounded. writhes in pain,
viii die amid her worshipers.
Sydney Smith assures me that Mrs.
Partington fail, Mr.. Bennett, in stop
ping the manifest destiny of our race,
in trying to force paupcrism on oul
people, by introducing Free Trade in
disguise. . .. ."
GEORGE FRANCIS TRAIN.