The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-09-28
Something for Thoughtful People to Con-

sIder.
The brief but pointed letter from Hon.
Thaddeus Stevens, which we published on
Wednesday, concerning the effect OF Demo-
cratic triumph on the value of United States
bonds and notes, is worthy OF the considera-
ton of every person who has dollar invested
in those securities. No position is more siren
uously maintained by the opposition than that
our present Congress is not valid body, be-
cause of the absence of Senators and Repre-
sentatives from the late Rebel States. One of
the opposition organs in this city dwells al
most daily upon this point. 1t declares the
Senate to be no Senate, the House of Repre-
sentatves to be no House of Representatives
because the South is not represented. Ii this
argument be correct, it invalidates all of our
legislation since the Southern States with
lrew from Congress. Our bonds are issued
without authority, and are illegal. The mo-
ment Southern Rebels and Northern sympa-
thizers shall obtain power, if they ever do,
they may repudiate the entire national debt,
as contracted without proper authority. Now
there are thousands of Democrats who take
no very active part in politics, but who are
directly interested in the integrity OF United
States bonds and notes. There are tens of
thousands of persons of all classes who have
invested in the national securities more or
less of their means. All such persons would
do well to seriously reflect upon the probable
or even possible results of Democratic
triumph, The value OF their property IS
seriously menaced by this doctrine, which we
do not hesitate to denounce as Infamous, that
the Congress of the United States, as at pre-
sent constituted, is not valid, lawful, cOnsti-
tutional body.
Another point is worthy of serious con-
Sideration by all who are interested in United
States bonds, and, indeed, by every business
man in the community, no matter of what
party. Threats are constantly thrown out by
the leaders of the Democratic party, that if
they can by any possibility carry sufficient
members of Congress at the North to form
with the Rebel Representatives from the
South what would be majority of the whole
number OF members if all the States were
regularly in the Union, then they will unite
with the Rebel Repre- sentatives, and organize
riuGl Congress, in defiance of the laws as
at present existing. This, of course, would
be revolution, and would lead at once to civil
war. In such a case, United States bonds
and notes would instantly depreciate
in value, and might soon become
almost worthless. Business would be
greatly deranged and depressed, and wide
spread ruin and bankruptcy ensue. 1t is
wonderful that any party has the hardihood
to go before the people on such an issue as
this; but the persistency with which the
threat is held out, the particularly with
which its details are discussed, and the undis.
guised attempts to prepare tn public mind
TOR such an atrocious onset upon the liber.
ties Of the nation, leave us no room to doubt
that it is seriously contemplated. The public
peace, the safety of society, business pros
perity, the sacredness of the public debt, al
demand, therefore, the triumph of the Unior
party. Its success will insure peace, will
restore public confidence, and will secure
permanent prosperity to every branch of in
dustry.