Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1867-03-02

II 10 happily; doubtful that The proposis

1a0asisn.
II 10 happily; doubtful that the proposition
70 increase the currency. Of the United
States by . new issue Of ''groenbacks,'
whether 10 the amount Of one million OF one
hundred millions Of dollars. will receive the
earnest support Of any noticeable portion Of
tie people Of the United States. Expsnsio"
can God lev advocates among the sober
thouehtfs, portion Of our citizens who nave
che welfare Of The country ct heart. IL"
only few who inssnely. and, let 10 nope
u,elesslv, protest against return 70 specie
because they 6nd, hen some cause o. esnss.
their prsHt in the pssssut condition Of
things. who can ever pretend 70 the desire
for .eontinussec Of the present systsm
which unfortunately fes the interest Il The
nation has obtaiaed to 20 serious an extent
Is nm inevitable result Of the war, or for .
further advance in the direction Of imitation.
Each new step towards that end but NOR
hopeles.iy involves Us 10 the vortex Of
financial ruin by fastening more firmly upon
us the ovcrpowering burden OF an irrespons-
ible and isredeemable currency. For to that
end must il conc At last We can not 20
on increasing tho currency without ulti-
na,ely reaching the point when redemption
vii become hopeless undertaking. The
inevitable sequence 10 reputation. The
ostensibls object for which tho addition to
20 the currency il TO be made. II at all. 10
the payment Of tho national bonds which
are falling due. This 10 . suicidal project.
II The bonds cann,t be met 10 any other
way 10, there be new issue, TO the amount
necessary, Of G. 2O's or 1903, but no more
greenbaeks. Upon the bonds Of course the
government will have TO pay the interest.
and Il is Q favosils axiom With those who
favor the insane gresnback project that BY
their method W. shell save The Interest,"
This Is false view. 50 far % paying the
interest We shall In reality be paying an
usurious one. We shall BE- paying .
fearful price In the further depseciation
VI the value Of The currency We have.
and che increased value Of the gold and
silver ~ have not. Al least. not - cir
culating medium. - ~ should have, and
in reality only possesses - . marketable
commodity. ~ We should not. Let the
poss. who are daily paying the grinding inter.
est upon the currency " now have to think
calmly upon the increase Of this unnecessary
TAXATION, In the way Of cohancsd prices upon
the sscsasities Of life. that will bs sntsiled
By new Issue Of grssahacks. The nation
has already enough 10 hear without adding
to the load. Speedy resumption should nov
b the object Of oil who seek the public in.
tesesN and the welfare Of the private citizen
% we'll Add Il IL useless to wait for specie
payment 70 enforce itself upon the nation.
That day will never come. We may go on
a. We ere to-day with gold iluc uating from
1870 10 l. SO and 40 until the Judgment day.
and never be any nearer the end. II is al
ways easy enough TO get AWAY from specie
bas's--to get back again is quite different
matter. II 10 just the difference between
down-hill and up hill This is tho unvary-
ing testimony revealed in the history Of the
finances Of every nation, and tho fact vii
remain nm immutablc truth until the end q
time. The result cannot be ia any way
changed. IT we desire ever to resume spec,s
payment in this country all Legislation upoE
the subject must tend that way. by nc
other means can the .deshej object b. -.
BE- made to tho currency, aud that nov in
circulation should be called in and destroy
Cd - last ~ possible. When this is done
Va shall begin TO find gold taking the place
Of che currency We now have. but not ill
than. The day Of thc.redcmption Of every
grcsnback and legal tender note in tho land
cannot come too soon. Il would have been
better, .'crhsps. for US IL not single one Of
them had ever been issued, but since we
cannot undo. the past. Ia us make amends
Wy getting rid of the financial incubus
that ways the nation down, MS speedily as
may tie.
Ihe Political Welfare OF the
Country.
The Nes York inns, in referring to the
apparent difference manifested by the
Southern people in regard 10 the legislation
Of Congress affecting their most vital inter-
ests, and contrasting il with their previous
history in that respect, remarks: Explorers
Of history and human nature, and students
ofpolitcal philosophy, may think they find
In such phenomena grounds fog doubling
the permsnence Of our free institutions. II
the Southern people, who comprise one
third Of the population Of cur country. have
bscome SO Frustrated - TO BE- not only care
hess Of their political fate. but to bs ready
fer submission to any order Of thinss which
Congress may ehooss 10 impose, BE- 1t regal
military or theocsatic, Why may not the
probable events Of the future bring about q
similsr prostration the West OF North, q
b. accompanied by similar feelings, until ~
shall al welcome the nan On hessc.baek''
whose coming Caleb Cushing forssaw TWEEN.
y years ago. Neither The: reasoning NOT
the question 10 unnatural. and though "
may not Be prepared 70. allow them a in
capable q aaswsr. - must - prepared %
admit that they have force enough 70 justi-
" tessshssght. AZ III events, whether ia
view q immediate politics, ~ coosider q
cssdingly 30 ssr ~ sssassv that : third d
~ L. -
oaseispesioa il psbaie sGAin unsil thsy
eare nothing whatever fas the Tree institu,
tieas Of A0ssica, - IL political welfare.
1'Ao OAoocs.
Senator Cevsa, Ia speech in the Senate
shs Other day. soewsd lcoeelusivsly that i,
was simply because the Radical leader
ssusht 70 perpetuass their power that they
we're now found proGering the South ne.