The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-03-07
C.-.,- -. '.,yFr, ,lsss
FINANCIAL.. -

Inc FINANCES OF tho country occupy 3 consider
able degree Of attention at present III the journal.
OF the North and Certainly not without cause
we also could say good deal on this subtec..; i
taere seemed to be . shadow Of probability thai
anything we could utter could IN the least degree
influence the headlong course to ruin ruin and bank.
rrPtcy, pursued BY the last Congress-, and which
No doubt, viii be continued by the present. The
OLD adage about the spigot:and the benshole never
received such gigantic illustration; asr Is the case
now IN the financial matters Of the United States
Governnae naent!l Every now and then the seoretar,
OF the Treasury, cr, it may be, 4 member Of ON our
OF the Committees Finance or sonae 1f1,r
~ inclined editor, puts forth a scheme. 81 Which
the National Debt (of three thousdd 1nilIiona ~
beheye,i is to be paid within short given en- period
Of time, or else submits plan, ~ which the ebi
ls TO be consolidated and the amount Of ANNA.
interest considerably lessened when, perhspe The
same paper that reports these propositions hrinsr
the news also Of the passage Of an
OF Bount55 Act, which adds some four hundred
millions to the debt and these $4OO. .O00: 03p are
voted for With aa little msgiyings, IS though the
mill that ;grnds out the Greenbacks-IeealT Tan.
ders; or by what other name the delusiye; cornnod
1ty may be, ,called-was endowed With sorne d rvx.a
r1ous power, By virtue Of which it could indeed
manufacture money, an actual increase to the M
aonai wealth and not merely multiply Unole sam'
Whist is ts most surprising is that the United
states bonds Should under this reckless system
q fieglelation, st their figures Ia Frnn3s
iort and IN London. In the case Of ptivasa ini.
Nduaa OF alc1ose Corporation even, s;tch conrsa
would pc construed forebode certain and early
naMnkruptcy, M and the moment Buch faot would ~
Droneh home to the cautious heads Of the nonav t
knss an instant and tumble IL seon.
r1nes would be the inevitable. conseqnanc.e. ~
nfoftunately for the country, the 1eeinfhtao 81 IN
congress during the past six years;kAs been Roy-
efned exclusively BY considerations Of q sechona,
ana party character. The war was -eon5 ellen
tare'y regardless Of expense; just as when q 1nan
goes 20 iaw determned Ct an shazarda to gain the
sult N she heat OF passion and 7resentrnen nsvar
stopping 70 consider The end IN view "a
worth the means e1pend ed is the Effort to atain
1e. Inc War is closed; but passion ana .1nisrnle
sen "a reign snprae The gigantic scale 81 expan
manEtodncea 81 nteo;eyery departnsent Of the
governments py the waf; IS stiI in course OF BRO
tsIess. The heroes Of the war mist !beA reward
e. s.. Nowhere = IN q modern times has the world
seen such rewards. Such 8 system n,ay have
oeen consonant with the times Of sz1rk or Of Wu.
- A'AssA&AS5 juS0 VS Us20 feCKl6ASneSS with
which n fhe national obligations ars a;
cunnulated resembles the AnanaiaaI policy u ia
French Reyoluti Government Of the last CEN
tury, in the. widest; days Of their rniarle but
neither the rewards ncr the extravagaiirce seem
20 us conslstent With the degree Of
professed BY our to say nothing Of the
many examples offered by history, showing the in
esasaole consciousness Of such a ooqrse. s:sl
mo d; Question Of reconstr uction, which more
properly sh5;ldbe entitlsdathe a ian Of ina
soutn' has 1aundiced the eyes. OF Congress- and of
.ner consti tuents. Every question Of ,nanoo of
:, ,sA revenue protection, rosh sII
Kinds stc. vas invariably comp VitS
seoons,rnosion incubus; and wi alvsrs
carry the day over judgment, when he twn nsnos
INTO collison the material the oonntrv
have almost il every instance been d:sraoarasS
ad d the views Of few Of the leaders Of ths o,n,
nant faction been ranmed down the throats nf fh.t
onuTe parry. .:' -: q ss 81, r. :s
Nov, however, that the National BankrupItt TawI!
nag PASSED, We suppose Unole Sam, If hard pressed
wall take the benefit Of the Act, make an asaan.
ment or go into lquidation. II. N,
But, cut to,ao & We have allowed ourselves In
sensibly TO be drawn into making these reflections.
We beg pardon of our readers. We Know v,,esrvI
ven = ats[ that We are taldng to the wind,