The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1867-10-03

aud will lie in the hands Of the las,
holder, can not be sustained by max
ing It legal tender, OF b. any legis.
htiye coutrivancc. Not Que dollar of
tho bonded debt will fall due before
fourteen years aud then Il will be-
obmo due at diaIrept periods, run
ming down to 1901 Can any good
reason be given for ptying IL of 50
long IN advancc2 Tho country has
mt yet recovered from tho war
Trade aud commerce still languish
throughout the land, Nine States
are disorganized and dosolatc, aud
can scarce pay anything for years to
come. The rcbellious South caused
the debt to DO created, but whatever
is paid in the next Eve or six years
must como almost entirely from the
North Why not wait at least until
the South can pay part2 Why not
wait until the country has recovered
FROM the shock aud wrs,e of war
Has not this generation put down the
rebellion and done its part, and may
ituot justly leave tho ply neut of part
of the dobt to the next2 This genera
ton has to discharge a largo State,
county ard municipal Indebtedness
growing out Of tho war, aud within
tho next ton years will have to pay
not less than 100000, 600 for pom
sions and bounties, besides oxtraor-
dinary expenses for Indian wars and
other causes. In ten years our pop
ulation will have increased ten mil
lions, aud our taxable property near
ly doubled in value. la ten years d
tax twice in amount eau bL borne
easier than the tax of to day.
Within ten years the Southern
States will be reconstructed aud il
the enjoyment of compare i've pros
pcrity. Within ten years, aud per-
haps within five, the increase of popu
la'ion, wealth aud cap tai will enabb
the government toisell at par, bond
bearing much lower rate uf intercs
than the proseut, and thus consoli.
dato aud reduce the debt.
Should the Government fnd itsol
at any time in possession of coiu o
currency that eau be applied to th
reduction of the debt, il should, o
course, bo promptly applied; but an
attempt to pay the BONDED debt il
advance by hepyytaxatinn or by in
| falling the currency, will be unne
cossary, .unwise aud injurious, r
would pay the interest promptly
according to the contract. / wout
pay of our currency obligations au,
other debts as they mature, aud Sc,
to II that the public debt shonlt
under no circumstances be increased
] would reduce the rate Of taxation
to the lowest point that would dolral
tue expenses Of the Government eco
uomically administered, and pay lh
interest and maturing obligations
and leave the principal of the bonde,
debt to be discharged in other and
better times. b" '''
Who ever before heard Of natioi
while still exhausted FROM war, an,
with wounds unhoaled, attempting /,
pay off the war debt2 Foreign mn
tions may admire our-ambilion 10 ihi
respect, but would despise our discre
ton. The national taxes can be re
duced by the adoption of the policy
propose, and by the honest aud faith
fuI collection of the internal revenu,
ln fifteen years, aud possibly in Gy
the difference in value between gol
and greenbacks will have ceased
exist, by a gradual return to spoct
payment, aud the question of III
mode Of payment Of the bond
whether in geld or greenbacks wi
have become uuimportant. Speci
payments Gun be reached withuu
contracting tho CURRENCY, by waiin
a reasonable time, until successful re
construction aDdthe growth of wealtl
aud business has brought the coun,
try up to the existing volume o
currency without a fpppcial couyul
sion.
H. The decline ofgold from 269 t374
brought corresponding reduction i
the price of property, attended will
great loss and arrangement of husi
ness. Another initiation Of the eur
rency would be attended by auothe
ascent and descent of prices, and witt
immense disasters to the nation
What the country needs is repose an,
stability in our financial policy, nm,
without these trade and prosperit
must languish When our debt va
con ifacted, the men who now clamo
for its Immediate payment denouncel
bonds and greenbacks as alike worth
less, and dissuaded the peUple fror
lending their money to carry on tn
war; and my opinion is, they mean a
better to the country now than the
did then, Now, as then, their eifOl
is, TO destroy the public credit.
The proposition TO pay the publ
rdebt ia advance Is unnecessary, i'm
practicable, and destructive, an
would result IN benefttonone unless i
would be the gold gamblers, and the,
would ultimately be ''hoisted by thei
own petard," as they wer5 at tn
close Of the war. '
The national debt can be pait
without expressing the country
not by hot house " experiment:
spasmodic Efforts, or violation Of th'
public faith, but by the solid growtl
Of the country in population. wealtl
and prosperity, under the administers
ton Of a staple financial policy.
Egibuleui ,ta 0. n. MORTON.
The Proposed Constitutional
Anandmanf.