The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-01-31

duction, and wealth will have been so largely 4
augmented.
Bankruptcy and Reputation the Cost of
British Free Trade.
From the Tribune.
On the 18th of January, 1843 Mr.. Walter For
ward, Secretary of the Treasury, reported to
Congress the result of negotiations for loan of
So, 500, 900, which negotiations were begun in
April, 1S42. Only two bids had been made for
this loan-onehf $50, 900 and one of 500 900, both
at SO per cent, for per cent. twenty years
stock. The Secretary in a special report to
Congress, said: -"The repeated failures incurred
in negotiating at home upon advantageous or
credltable terms suggested the policy Of sending
an agent abroad for the purpose of endeavoring
to effect favorable negotiation in England or
upon the Continent. Accordingly gentleman
Of the highest consideration for intelligence and
integrity was selected for the purpose, and left
the United States in July last. l regret to com
municate that he has since returned without
enectng the object OF his msson.n
The United States of America Shining"
through Europe for the patry sum of SO, 100000,
and turned away with fat refusal from the door
of every banking-house at which our poverty
compelled us to stand hat in hand, humiliated
beggars British free trade brought the nation
to that DISGRACE. The repeal of the protective
tariff OF 1928, by successive stages of ruinous
| legislation in 1884, 1896, and years following,
| toppled the country down from the height OF
| sure of economy placed it, into stagnation and
| BANKRUPTCY. Mills, furnaces, and workshops were
| everywhere closed; mechanics were starving
or wandering as beggars towards the public
| domain; poorhouses were filed; money was
| scarce and interest devouIed; land had fallen
| to onehat and third OF its previous value
| lawyers and sheriifs were everywhere busy;
| banks were in suspension; States repudiated
their debts; the General Government had not
money enough to pay its legislative and eXecu-
tive officials thor salaries, and was utterly
| without credit; the burden of bankruptcy upon
| merchants manufacturers, and men OF every
| business was so universal and so crushing that
Congress had to free the people throughout the
Union from their indebtedness TO each other By
a general bankrupt law. There never was in the
history of civil affairs more friehtful demon
stration of the falsitY of false theory than the
| prostrate condition of this country in 1912 FUR
| nished of the untruthfulness and wickedness of
| the policy of British free trade
On the other hand, in July, 1865, the United
States, then borrowing money on short time
from its own citizens, had rendered and pad
over TO it in one day over S39, 100000 Between
the 1st of January in that year and the 9th of
July the Government borrowed of the earnings
and savings of the men and women of our own
country $S30,O00000.
Whence came this marvellous ability to lend?
Whence came this ability to borrow? 1t came
from the realized wealth and prodigious ind is
try of the country created by the tariff of 1861
and its subsequent amendments, with the aid of
the accidental tariff" of the high price OF gold
needed to pay customs. Adherence to the policy
which established this industry and created this
wealth will maze the nation more prosperous
in the future than it has ever been in the past.
A new embrace of British free trade will
assuredlY bring it to poverty, bankruptcy, and
the necessity of reputation.
The FTeedmen's BuTeau--The wild Legis-
latiOn of Congress.
From the Herald.
We have already chroniced the fact that the
bill enlarging the powers of the Freedmen's
Bureau has passed the United States Senate by a
large majority. 1t is, therefore, now before the
House of Representatives, and to that body
must the people look for the rejection of the
scheme.
, Prepared as the American people must have
: been for almost every kind of wild and reckles:
, legislation, under radical rule IN Congress, We
believe we express their unanimous sentiment
! when we state that measure having the ramlh
cations OF this Freedmen's Bureau never entered
: | their minds What does this bill propose? II
l provides that its operations shall extend 20 re
, | tueees and freedmen in the section covered by
! the Rebellion; that his section shall be divided
into districts; those districts into sub-dlstrcts
not exceeding the number of counties or parishe
- in each State; and that each district and sub
. district shall have its local agent, at salary
\ fifteen hundred dollars per annum. Now tina
= the war is over, we do not see what the Govern
% ment has to do with refugees, supposing then
. to be white any more than it has to do with tn
y paupers in our almshouse at Bellevue. We
I therefore, in considering the subject of thi
- Freedmen's Bureau, throw them out OF the seal
- altogether.
} Now, how will this measure operator BY tn
: provisions of the bill the Secretary of War
v authorized to tissue provisions. clothing, lue
u and other supplies, including medical stores an
4 transportation, as may be deemed needtul," etc
~ In other words 1t is establishing gigantic Coy
y ernment poorhouse for the emancipated blacks
and those who have plantation experience of tn
Eegro character know that he will not be slo'
to avail himself of the benefits of an elemosl
nary institution like the one proposed. Th
10 measure is not only bad, but wicked ont
of 1t demoraliZes the negro; it encourages hiI
oi Incidence and affords shelter and protectio
es TO the black man which have never beer
NJ and probably never will be, accorde
by the Government to the poor whit
man IN the South. 1t will place a ust
g. less Government official in every county an(
n. parish in the late revolving States, constitutin
q altogether an immense army or greedy otic
D holders 1t will saddle the country with an emo
nous expenditure, say fifteen, perhaps twent
DO millions of dollars year. 1t will force upO
the Government a million of negroes as pc
rs petual dependauts and pensioners, all, no uOub
perfectly contented, Lecause they have all the
r. Want-plenty OF ralions, abundance to eat an
drink, and no work. 1t will foster the hivin
IN of drones 1t will make the idle more idle an
Id the law laZier. Briefly it will paralvze Ii
o. industry of the South, and is nothing in an
IS, particular but reckless, eXtravagant gigal
mt tic and preposterous scneme of GovernmeI
CHARITY And what will make it more in eres
w ING to our overburthened taxpayers they WI
have to pay for it. If the bill is intended as
rs experiment, it may serve the purpose of an en-
bling act to permit those Congressmen wi
lie have single ldea--and that about the negro
N, to Ventilate their oratory In that light it mi
be regarded as furnishing bureau establisht
,oI rahun onA 20