The home journal. (Winchester, Tenn.) 1858-188?, 1867-03-21

would either be, or effect to feel, horri
fed If to- day branded as reputation
lists, just as, in the infancy Of the fret
soil agitation, it was considered bittel
SANDER if the 'frecsoilcr' should be styl
cd an 'abolitionist.' There are steps
in everything, and the term of ofreproach
to-day will be worn as feather in the
cap of some years from now, unless the
lrue conservative wisdom Of the coun-
try can be awakened and, rapidly, from
asphyxiating dream that our national
debt is national blessing
Sand look at the effect Of the Recon
struction bill just passed over my una
vailing veto. ! mean its peculiar ef,
feet as q step in the direction ofrepudi'
alton, and not its general effect as a
high handed measure Of Congressional
usurpation, striking out Of existence
so many States, and establishing mil
itary despotsln over more than one
third Of our geographical Union. This
bill suddenly adds four millions of ig.
norant and penniless negroes to the vo-
ting force of the country--an accession
Of just so much strength to the party
whose interest it is, and must increas.
ingly become, TO favor reputation as a
policy. 10 secure the public creditor,
our efforts should be-to restrict rath-
er than to extend the right of suffrage 2;
for money rapidly aggregates in few
hands and whenever the men who have
an interest in seeing that our national
debt is paid shall have become out OF
all proportion few, compared with those
who have an interest in its reputation,
the votes Of the many will carry it, and
the debt of three thousand millions will
be struck out of existence by ballots,
just as rapidly and utterly as the simi'
lar amount invested in Southern ne
groes has been abolished during the
recent war under showers Of bullets.
AT least, this is possible.
"rhat we are TO have n great finan-
cial crash this year | hold to be inevi-
table-though deprecating it, and hay
ing used every effort for its avoidance.
TO say that ii can be STAYED off by any
legislation, if the violated laws Of trade
and public economy call for it, is to as
sert that water can be made to run up
hill, or shall cease to seek its own level
under the compulsion of Congress
sonal enactment. Perhaps for SO vio-
lent disease, his violent cure may be
the only remedy. 1t is like man sus-
tanning his strength on brandy so long
as he can increase the dose daily, he
may get along in high good humor, just
as we have been prospering on an ire
deemable paper currency and fresh is
sues of public securities. But, sooner
or later, the day will come in which
brandy no longer can stimulate, nor
can irrcdeemahlc promises to pay pass
current as circulating medium forev-
or, TO the man will come a severe ii,
of sickness, teaching him that the laws
of temperance can only be violated un
der fearful penalties; and that the ma
ton will come to a financial crash
teaching it that paper is only repre-
sentative of value, not value itself ant
that the only true securities for ou
public credit must be looked for in ;
system of rigidly eXacted obedience tt
all Constitutional restraints, and 4 thor
ough system of economy in Ill branch
cs of the public service.
"For the sights and indignities--th'
unconstitutional curtailments and dis
honors which the recent Congress ha
attempted to cast upon me for my un
ninching and unalterable devotion It,
my constitutional oath, and to the bes
interests of the whole country, accor
ding to my best judgment and expert
cnce, am only sorry as regards tn
indignities sought to be imposed OF
my high Office, but unmoved as regard
myself. Conscious Of only having eX
ecutcd my duty-conscious of bein:
denounced for ,'usurpation' only be
cause refusing to accept unconstitution
al powers and patronage-and satisfl
cd that the day of wiser thought and
soundcr estimate cannot now be far dis
tant-I look with perfect conhdenc
) fer my vindication to the justice Of ths
} future which l am convinced canno
l long be delayed. Unless all the sense
are deceptive, unless all truth be a lie
: unless God has ceased to live, l te
: you that the folly and fraud now don
mating the councils of this distracte
: country in Congress cannot endure TO-
4 ever"
The President uttered this last sci
D tence with great earnestness and fir
: his previous remarks having been d
livered in the calm, grave, earnest mo
f otone which is his habitual form of e
G preston.
, 1t is, perhaps, but right to add th
, the foregoing is report from memo
5 of remarks made by Mr.. johnson in ,
: extended conversation yesterday aftt
s noon, and that the original did not ta
$ the form of set speech, here unavo
! ably given to it. 1t should also be a
i ded that few points embraced in
T. report, and attributed exclusively
t the President, may have been, more
: less, suggested by interjectional
J. marks of the person to whom he "
). speaking; but nothing has been HI
d set down to which the full assent of
/ johnson was not glven-always pro
/ ded, of course, that his listener und
0 stands him, and remembers correct
l. Your CoRREsPoNDENr.
,ri