American citizen. [volume] (Butler, Butler County, Pa.) 1863-1872, 1867-10-16
REPUTATION.


boldly and without shame advocate raids
upon the national credit, it becomes nee.
essary that the public dissent should be
manifested 10 way that can not be mis-.
understood not so much because there
is absolute danger that bad counsels may
preyail-the integrity of the nation is
too sound for tbat--but because there is
disposition in some quarters to enter
tain, the idea of their possible success.
The fault of those who handle the mat
ter gingerly, is in giving it any consid-
GRAFTON whatever beyond an instantane'
GUS and seornful rejection The first
whispered intimation of so vile scheme
should provoke an outburst of honest in
dignation, just as the virgin eheek man-
ties with its first blush of shame. aiss1
The national good faith is the chief
cornerstone of the national life, and he
who aims blow thereat is the en- emy of
our common unity and existence. 1t is
these extreme measures, so constantly
sprung upon the people, that we have
most to depreciate and most to fear; but
so long as the public sense of honor re-
mains. unshaken we have safeguard
which will always afford us secure shell
ter. Our present debt was contracted
under circumstances OF no ordinory char.
acter, and the national obligations be,
came Of the sacred nature for the war
could never have been fought TO q sue,
cessful issue without a pledge of the ma.
tional credit The blood of every sol>
dier who fell in battle cries out from the
ground against Repudistion, no matter
IN what shape it comes !; whether a
wholesale wipiug off Of the slate, or the
payment Of gold obligations with paper.
Our foreign ereditors-the holders of our
bonds-have had such confidence in our
phghted faith, that they have deemed
Five Twenties the most desirable of Sc
curities, and their mar ket price has rul--
ed higher at Frankfort and London than
in New York. These creditors never
dreamed of United States repudiation,
although they had heard of Mississippi
and other individual State delinquen-
cies. They are now sharply scrutinizing
the Americon physiognomy to discover
with what temper these schemes of the
political agitators are received Should
the national credit receive serious dams
age at home and abroad, the FIRST result
would be return of our stock from Eu-
rope to an amount which, with our. i'm.
portations, ;;-ould drai;, us of every avail.
able dollar of coin ii night be differ
ent if our debt were anything less than
a thousand millions We could then, per.
haps, afford to strain our credit little !;
but such experiments just now are dan
gerous, and mi 5ht prove ruinous,
We do not exactly see by what pecu-
liar signs of the political heavens the
mischief makers are encouraged to pre-
sent their vile schemes just now, 1t is
true that very general symptoms of res
tiveness under existing oppressive bur-
dens have been manifested. The public
does not conceal its desire Of relief from
high tariffs ane heavy taxation but it
never thought of looking for it through
the'door of Reputation. When relief
is afforded (Which it soon will be), ii
will result from judicious craftsmanship
and sound views Of national policy. 1t
is by no means improbable that public
opinion willreeoncile itself to the plan of
eaving the larger part of the principal
of the debt for succeeding generations
to llquidate. These thoughts, however,
are irrelevant to the gist of this article
The people will await in patience the do.
velopments of the future They have
every reason for conf leuee in their abil.
ity to meet their current obligations, even
when swclled Unfortunately by official N is
management and political intrigue The
customs revenues (go!d) are more than
adequate for the payment of the interest
on our funded debt, and are specifically
pledged to that object. Current expen-
ses must be met in great part by taxa,
ton. An income such as the country
has enjoyed the past two years, and ap
piled as it has been, has proved sufi
eient, not only to meet all acquisitions
but to cancel very considerable portion
of the principal of the public debt, as
the reports OF the Secretary OF he Treas
ury show. Such satisfactory results dc
not point toward the disgracefal make
shift reputation Certainly we do not
need to ray interest on our Five-TwentJ
bonds in greenbocks because oea lack oi
coin. Where, then. is The urgency fol
so doing, as set forth by the political ex
tromists? There are really no pretext.
for any such measures, unless it be the
cry which the piekpoeket raises in, ;
crowd when he proposes to pursue hi
dextrous manipula.ions. No doubt the
| plan will receive some advocates. sucf
as Copperheads who never invested .
dollar 10 Governments }" cormorants o
any party who thrive most upon the pub
lie disorders sharpers and speculator
of all kinds; and the small gamblers 0
Wall Street. But so long as our coun
trymen are proud Of claiming American
citizenship, they will fpurn all sugges
tions that squint toward liquidation =
Harper's Weekly.
"A pickering pair Of Quakers wer
lately heard in high controversy, th