The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-11-14
Financial.

Democrats in different parts of the
country are pointing to the decline in
gold as one of the effects produced
by their success In the recent cleo
tons. The decline in gold is much
more sensibly and satisfactorily ac-
counted for in another way. Secre-
tary McCULLooH, at the dictation
Of his master, the President, has
been guilty of prostituting- the great
power placed in his hands by an UNI
suspecting Congress, for partisan pur-
poses. During the whole year he has
been boarding up gold in the sub
treasures which ought to have been
applied in paying off bonds and ex-
tinguishing interest. A short time
before the October elections he began
a rapid contraction of the currency.
by which the people were oppressed
almost. beyond endurance. At the
same time Copperhead organs all over
the country were bowling that the
tightness in the money market was all
owing to the policy of the Republican
Congress. Immediately on the heels
of the October elections gold was
easily reduced in price by the Score
try by throwing the Government gold
into the market, while by still more
calling in the greenbacks, he
was able to create additional dissatis
faction and strengthen the Democratic
party. After the November elections
another sale of gold was all that was
required to still further reduce the
price, and this seems to have been
done.
By these circumstances the Repub.
leans have learned that the power they
to Secretary MCCULL9CH |
mas been ungratefully and meahly |
used to their disadvantage. They |
low see that it's unsafe to establish
/ financial monarchy inside of Re
publican Government, and place on
he throne an autocrat banker. with
power to control prices, produce
rises, and destroy confidence and
redit. A permanent financial policy
must be matured and established at
he next session OF Congress, which
Till be acceptable 30 the people, and
0 secure their confidence as to enable
hem to carry on their business with
ut fear of expansion or contraction,
Thich it may please the Secretary of the
treasury. to create. The difficulty
ow is, nobody knows what McCUL-
OCH designs doing. While large
Majority believe that he intends do
1g what, in his opinion, will best
dvance the interests Of the Demo
ratio party, they have no means Of
what his views are in
lat particular. 1t will not do to act
) though further contraction is in
Vitabie, because he may, to give a
tile eclat to some Democratic vic
'ry, expand the currency. and
AXE times lively, leaving every
ody who thought he would pur
lie a different policy, badly in the
lrch. It will not do to base bust
ess upon expansion, for the autocrat
the Treasury may consider it the
lterest of the Democracy to still fur
Ter force down the screws until the
cry life blood of the Republic is !
riven through the pores of the skin.
Congress alone can remove this J
ne man power, and it is its duty to
'lieve the business men of the coun-
y of the "Old man of the Sea, who |
IS perched upon their shoulders 7
Te do not desire to be tainted with
ling the authors of our own misfor +
mes, when they were occasioned by 7
/ instrumentality over which we !
Id no control !
-
We endorse the appeal of the Cen