The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-11-28
National Finances.

One of the most important subjects that can
come before Congress is that of the national
finances; and there is some danger that the
halls of the Capitol will be made battle
ground, upon which will be fought out the
bitter contest between contraction and infa-
ton. 1t is certain that the whole country cries
for relief from the depressed condition Of all
its Industrial interests, and for the adoption of
well defined and vigorous policy, which will
liberate the energy and enterprise of the coun-
try from the apprehensions which now para
I'VE them, and which make the financial diff
culties of the situation almost incomprehen-
sible.
An additional issue of paper money is pro-
posed by one class of fnanciers, and this, in
encouraging speculation, would cause an ad-
vance in the price of every commodity. On
the other hand, any extreme contraction of the
currency, would derange the financial equili-
brium and hasten q commercial crisis. The
true course will probably be found between the
two extremes; and, by consenting to abandon
further contraction and to relinquish greater
initiation, both parties might act together with
out any any sacrifice of principle, and avoid
the deadlock that will inevitably come if
neither side is willing to make the least con-
cession.
But the great fundamental idea which is in
dispensable to the vindication of the national
credit is change in the general policy of the
Government which is now carried on with a
reckless extravaganza which is not justified by
any requirement of the public good. AS long
as Congress directs its whole strength to the
reduction of ten States of the Union into negro
territories, and to the endowment Of the most
ignorant classes in them with the power to tax,
u spend and to disfranchise; so long will an
immense standing army continue necessary,
and so long will immense outlays for ruling the
Southern white man and checking the South
ern negro be required while, at the same time,
the tax-bearing power of the South will be
gradually diminished, until the North alone
bears the whole gigantic burden. How is con-
fdence to be maintained either at Aome or
abroad, while the whole nation is racked with
dissension, and the assumed organ of the people
gives all its power to the encouragement of
disunion, revolution and disorder? How can
the credit of the United States be upheld in
Germany and England, when it is seen that
the end Of the present scheme of policy will in
ovitably be wholesale reputation. There is
only one road to safety; and that is the road
which is trod by those who demand justice and
moderation for the people. This alone will re-
store true peace and increase the integrity
Of the country; this will render unnecessary
large military establishments, and the costly
Freedman's Bureau; this will take away the ex-
cuse now given for enormous taxation; this, in
destroying Radical domination, will give lib
erty and security to the whole Union AS
Governor SEYMOUR well said, ,-"restore the
South ana restore commerce and then the
greenback will be equal to the gold dollar in
value, and it will be a point of no pra ;tical i'm
portance whether you pay the bonds in coin or
legal tenders.