The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-10-27
aahs iPIaaaeeI OF ths country.

people, is most important, and has
drawn forth the views OF o large
number of writers-some competent
and others ignorant of anything per-
tanning to it. The New; York Mer-
oaatile Journal, which processes to
know, and really does know, the
sham from the real of financial writ
ing or speaking, writes very con-
temptuously of the efforts of leading
politicians to solve the financial ques-
ton. This able journal truthfully
declares, that the first necessity for
general solvency-State or individual
is an honorable peace between the
sections. This is the common sense
view of the matter, and all specula-
ton which ignores this great neces-
sity is idle and of no use whatever.
The Journal says: y
The money doctors have the usual
diversity of views. One believes in
feeding cold to starve q fever"
and wants to pile high our foreign
importations 80 that the people may
get plenty of cheap goods when they
have no money to get them with;
another, like Sangrado, thinks that
more bleeding" is what we need,
more j. e. taxes and duties, and
total exclusion of foreign manufac-
lures by heightened exports, as a
sovereign method of getting money
enough to pay our debts, by allowing
us to give ten pieces to home specu-
Iators and make millionaires of SNUG
glers; third thinks reputation and
the consequent crash of all our secu-
rites good thing in the way of a
settlement, and a settler it would be
to us, no doubt; fourth opines that
q complete turn over of the entire
Government might be about the
right thing, rs convincing mankind
what tremendously great people we
are, and how much we can "stand."
In fine, every form of stimulant,
depletive, laxative, blister, plaster,
etc., has been suggested, but all for
the surface, rs will be remarked by
an attentive reader. That anything
is radically wrong, not one of the
financial physicians seems to trouble
himself to think, unless it be Senator
Qate Governor) Morton, of Indiana,
who has actually discovered cure
for the trouble where plain business
men of sense have all along been
looking for it.
''Specie payments can be reached"
says he, "without contracting the
currency, by waiting reasonable
time, until successful reconstruction
and the growth of wealth and bust
ness shall have brought the country
up to the existing volume of currency
without financial revul5ion."
A second Daniel come to judg-
ment! The worthy Senator is kind
enough to thus emphatically sustain
what we have been preaching all
along. But can he impress these
very simple views upon the minds of
his Congressional colleagues? Can
he make our financial philosophers
comprehend that man with an
empty purse and out at the elbows
does not better his condition by re-
pudiating his old debts, trying to run
up new ones, and pawning MI the
other articles in his dilapidated ward
robe to raise the price of q fresh hat
or pair of boots? The Irishman's
method of cutting n strip off one end
of his blanket and sewing it to the
other to make it longer, would hardly
do in his situation or in ours.
What does the same individual do
i'll such n case? He holds away from
dissipation and extravaganza; ceases
his bar-room discussions; stops squab-
bling with his neighbor on any ques-
ton, particularly on mere abstract
theories; assures his creditors of his
intent to pay ut the earliest reason
able moment, and goes honestly and
seriously to work to prove that intent.
That is the first step to the recovery
OF outside confidence and inside
vigor and resources.
The American nation, rs n people,
has nobly tried to do this, and the
first year after the cessation of our
civil war, showed that it was done to
good purpose. If it had been let
alone in this course, we should not
now be as another writer describes
us, "waiting and expecting, in the
indefinite future, q financial col
lapse"
But the efforts of whole mass of
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