The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-16


tans and groes.
A Copperhend Organ on National Finance.
The World devotas nearly two columns of
ed torial to General Buffers views on our
national finances. 1t makes a labored but
weak def nee of the fin ncial policy of Mr..
Chase and his partisans, Of McCulloch, Jay
Cooke, tie nation i bankers, he bondholders,
and all who propose to perpetuate the debt, to
force specie payments, to increase tn. burdens
of the people and to elevate Mr.. Chase TO the
Pre- idency. 1t would seem strange position
for This copperhead organ to take, if we did not
know the fexibility of its principles and had
not the best reasons to believe it yields to mol,
substan ial argum n than words furnish. TIL,
Courier and Enquirer OF this city turn, I'd over in
one day, in the war between the old United
States Bank and General Jackson, from the
President to the bank, under the presu o!
Nick Biddle's check for f.ty-wo thousand dol
lars. That was the powerful argument that
changed its course within a lew hours. The
World not long ago saw things in different
light to what it does now. How much was the
amou It of the argument use by Chase and his
fiiands, or by the bondholders and the national
banks, to cause this SUNNI ersault? Fifty thou
sand dollars appears to b. ne At roun sum 70 r
such feats Of the press. 1t was about that in
the case OF the Courier and Enquirer referred to
| half that amount, in gold was used by the rebels
| during the war upon another copperhead jour
nal Of this city. Was that the argument in this
case, or WIS it more or less! Let us have light
upon the question.
The democratic party, of which the paper
mentioned assumes to be an organ, has been
through all its history opposed to q moneyed
oigarcby, monopolie, AMI the perpetuaton OF
nat ona debt The views General Butler ex-
pressed, in opposition to the policy of the re-
publicans represen ed by Mr.. Chiss, and of the
old whig and federalis; policy, which are iden-
teal, he learned as imocrat Though radi
cal enough in other Ihings, he has moi for ,otten
the financial lessons of the party to which he
formerly belonged. He says he differs with the
views expressed by the great leader of the
Western democrats, Mr.. Penileton, OF Ohio; but
there is really little difference between them
This he sid, doubtless, TO save himself wi h the
radical party, knowing all the while that the
difference was about as much as between
tycedledum and tweedledse. However, we W IL
not dispute with General Butler on this point,
as he has been bold and sensible enough to
assail the infamous national bank monopoly
and the moneyed oiigarchy, which would per-
petuate our burdens and force reputation
upon the country. But why did not the cop
perhead organ attack Mr.. Pen lleton, who went
as far or farther than Gen sril Butler in oppo-
sition to the Chase fnanciers and in favor of
| paying the national debt as soon as possible
with the same money In which II was con-
tractcds Does it expect to ride two horses at
the same time-to be the organ of Chase and
his radical monopolsts and the organ of the
| democratic party at the same time?
There is no disposition in any party or among
the mass of the people to repudats the ma
tional debt, and all the balderdash uttered
about reputation is for the purpose of cheat
| ing the public into measures favoring the bond
| holding and national bank monopolis.s. Repu-
| diation can come only in one way, and that is
Wy increasing TUE DuTleuS VI Tue people
through forcing spe,ie payments, perpetuiting
the debt, and legislatng in favor Of capital and
the bondholders a, the cost Of the industrious
classes. The way TO avoid reputation has
been pointed out by General Butler, Mr.. PEN
| dleton and others-the way that we have
pointed out all along-and that is, to pay of
| the debt with an abundant currency, while the
people have the means Of paying-before q
contracted currency reduces their means to
tax the wealth Of the bondholders as other
property is taxed; to issue legal tenders in the
place Of the national bank currency. and there
by cancel three or tour hundred millions of the
interest bearing debt and save twenty-five to
thirty millions year, and TO reduce the ex-
penditures Of the government as much az pos
sible. But in order TO accomplish this we must
have McCulloch and all the other Chase Rnan-
ciers and politicians removed from the Trea-
sury Department and statesman for Secretary
OF the Treasury. That is the way TO avoid re-
pudiation. II is absurd to talk about the faith
Of the government being violated by paying
the debt in currency, except where II Is ex-
pressly stipulated that IL shall be paid in
specie Gould not Mr.. McCulloch turn bis han-