The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-12

good in the way Of reconstruction. The only
coup d'std which tho President can now turn
to any advantage Is the coup Of the resignation
Of his office, and an appeal to the country. In
playing that card he may still win the game
against tho radicals
The Press and Politicians ON Our National
Finances.
The national banks and the bondhold.rs and
capitalists, who arc making desperate efrors to
contract the currency and perpetuate their
privileges, have enlisted portion Of tie par
tisan press Of both sides in their cause. The
Tribune, Times, World and Ecenin3 Post, of this
city, especially, have become the organs of the
monopolis.s However much they may differ
on other matters, they agree in financial
policy that favors the few at the expense of the
mass Of Industrious people. Contract the cur
rency, they say, no matter how much it may
increase the burdens Of the poor ami indus.ri-
Gus classes or paraiyzs Industry, for that will
make the rich richer, incre ,se ths wealth of the
bondholders forty or atty per cent, and place
all the property Of the middle classes and the
tradesmen at the mercy OF the national banks.
They cry out reputation with affected horror
when it is proposed to pay the debt with legal
tander. They want the governm mt to pay
every hundred in gold for which It received
only about q ty in paper, and this without any
legal or jnst obligation to do 80 thus propos-
Tag 10 lay upon the people perpetual and
insupportable burden for the bened. Of Q few.
They are the advocates Of the infamous M
tional bank system, which takes twenty to
thirty m licns year FROM TIE people in profits
on its circulation without rendering any SER
vice for this extraordinary favor-a system
which is the greatest fraud ever perp tra'ed
on the public, and a most dangerous political
ma ,hine. Thy favor, in short, banking and
financial policy entirely in the interest Of mo
nopolists and capitalists and against the indus
trous cl .sses.
We need no. b. surprised at this, however,
when we ccnsidarthe power of capital to manu-
facure opinions or of great m onopoly to con-
troll portion of n, press. There was striking
example OF this besw ZEN the years 1928 and
1882, in the war between the old Unitel States
Bank and General jackson. That bank,
though not anything Ike as powerful or DIM
gerous as the present national bank organiza-
ton, was h, rd to kill, aud no Prssi len. Of le
force of character AMI determine ion th,n
Jackson 20 sessed could have killed II. But
it fought hard, an anon, the means it used
to preserve its power and privileges was the
press. The Courier and Enquirer, OF this city,
received fifty-two thousand dollars from Nick
Bildle for taking up its cause. This paper had
been with Jackson in the fght until that time !;
but ffty-two thousand dollars was powerful
argument, and the next day it turn,d over
against the President and in support Of the
bank. It is not the least asto iishing, then, to
see at any timo weak AMI partisan journals
brought over to sustain gigantic m,nopol,s.
The national banks, bon holders and capt. H.
lists which are interested in perpetuating their
monopoly and in trying to force speci, pay
ments, cln well afford to use large sums of
money for this purpose. Thcv can exercise
great influence, too, over the politicians in Con-
grea Had it mo- been for tho independent
press and few bold and iniepcnlcnt mcm-
bers of Congress during the last year or two,
the country would have remained in ia kness
IS to the miserable and ruinous financial
policy OF Chase, McCulloch and the national
nation in Congress and through the press, lig t
il breaking upon the people. The last two
sessions of Congress a powerful parry was
growing up in that body. among whom was the
ables. leader In III, Hous, of Representative
Thad Stevens, against The crude AMI dessruc-
i've theories of the CHASE and McCulloch
school OF financicrs.
Ideas Of more sound AMI pracic,l char,c-
ter ara spreading rapidly. The people are
becoming enli .htened. Able and sagacious
men of all par les arc taking mp tho subj,c
earnestly. General Buler, Of the radical
party, and Mr.. Pendleton, Of the democratic
party, one leading MN of the East and The
other statesman Of the West, have come out
boldly in opposition to the nation'l bank
monopoly and tine specie payment clamors Of
the bondholicr, and their org ms. They are
for paying the national debt In legal tenders
as soon as possible, and before Ia, means Of
the people and government are reduced by
contraction. They are for substituting green
backs for The national bank circulation. thereby
saving to tho Treasury twenty-five to thirty
millions year, and for having uniform curt
reucy. They would make tho bondholders
contribute ~ other people do to the support
Of the government. These and other measures
Of broad and liberal character they adopt -
the platform Of the future, all tending TO Tighten
tho burdens Of the people and to liqridate the
debt before IL becomes insupportabl,. Thes,
sagacious men arc very little In advance of The
tinsa Tho great West embracing men Of oil
parties, Is almost . unit In favor Of this
financial policy; and soon the mass OF the
-~~.,~ g. III .o~,socc ~ kha counssv ill an n