New Oregon plaindealer. (New Oregon, Iowa) 1859-1866, 1865-08-11
REPUDlATION.


REpUDlATION.
The controller of the "Nation al Cur
rency' has written sharp letter to the
president of the Phoenix National
Bank, Hartford Conn. rejecting Sc
verely upon the states Of New Hamp-
shire and Connecticut for their action in
the matter of taxing government secu-
rites, exempted by Congress from tax
alton. In the course of his letter the
controller says:
"In one aspect Of the case however
it may be regarded as most fortunate
occurrence, as it will serve to show
the people that it will not be safe Cor
the Government to allow the Southern
States to be so reconstructed as to
permit their being represented in Con-
gress as unit, as they would. be by
men who would be but too willing to
unite with northern men Of the charac-
ter Of those favoring the measure under
consideration, to repudiate the national
debt, if not by direct action, by an
equally destructive want of action in
providing the means Of payment
1t seems to US that this is assum
ing entirely too much. 1t would seem
the hight of absurdity that the men
of the south should Voluntarily act with
the destructives of New England. For
them we sh )uld mark out an entirely
different programme. 1t would be
more like this, Southern members of
Congress would say to the New Eng
land fanatics; This war was of your
own creation; for thirty years you
taught the doctrine that the constitution
was covenant with death and league
with hell, that should be Immediately
annulled;' during all the time interven
ing from the utterance of that Infamous
sentiment you have envied the south
for its prosperity, the war you have
made the means solely, Of concentra-
! =: -. t,I,til SIS.
extorted from the tears. the bIeos, II e
signs and blasted hopes of those who,
through your fanaticlsm have been
driven into the conflict of arms. None
of the actual burdens of the war have
been borne by yeu; your New England
soldiers have been made up from SOUTH
err negroes or imported from foreign
countries; you have had the army con-
tracts, giving a small portion of the
profits derived therefrom for these sub
s,i:u.es for your young men, and now
you propose reputation. No! the on
ly punishment yankee can feel is
that which reaches his boarded or pros
pective wealth. The Federal debt
must be divided among the states az
cording to the constitutional provisions,
according to the population of each,
anc you New England fanatics, fully
gorged on greenbacks out of the prof
it's Of the war, must and shall paw
your proportion to the uttermost far
thing"
Such we apprehend would be the
action of the action Of the south in
stead Of reputation. As yet the war
has been only a pastime for the cas- !
tern states. "Profi.' being the hight
of yankee ambition, its severest
punishment would DO action compelling
We have always believed
they would attempt reputation as fast
as they could without destroying the
funds individually held by themselves.
But their action is no justification
tor passing tho Judgment upon the south,
pronounced by tho Controller Of the
Currency. Nor if true Of the south, is
i: very complimentary to New Eng
land abolitionists shat they are ready
to act with men who it is assumed are
actuated by principles looking to the
overthrow Of our institutions.
The recent election, in Richmond,
Of city officers, has been set aside by
the military authorities on the ground
that the candidates selected by the mil