The Waynesburg Republican. [volume] (Waynesburg, Pa.) 1867-18??, 1867-12-04

shed his blood and risked his life, and
the victalar who has credited the sus-
tenance Of the army to Congress and
to the States, have a merit in their
claims which the broker of their GER
tifcatcs cannot claim and the nation
was almost bullied into the repudia-
ton of all domestic debt which was
not still in the hands of the first hold
ers.
Hamilton insisted that "to cary the
risks of parties to supersede the con-
tracts between them to take away a
right to 4 specific thing, are not less
violations fproperty than direct con-
fscaton." His whole argument went
broadside through Jeilerson's cabinet
opinion, and it triumphcd. Even
Jefferson himself afterwards asscnted
to the funding of the entire debt of the
country at contract prices, in whatso-
ever hands, an Irrespective Of all the
pretended equities against even the
most Ola lxious classes of it and yet,
Hamilton to the day of his deathncvcl
got rid of this ol1cnsc against the pref
udices of the popuace, excited by the
success with which he vindicatcd the
credit, and, rcsultingly, the true per-
mancnt interests of the nation. Are
we to have this chapter of our history
over again? and shall we find men
enough and they great enough, for a
similar sacrifice in the hour of trial /?
VIII there be somebody, whom this
/ people must hear, to tell them as
Hamilton told their fathers, "that be-
sides the motives Of political cxpcdi-
cncy there are arguments that rest on
the immutablc principles ofmoml OBJ
legation and in proportion as the
mind is disposed to contemplate, in
the order Of Providence, an ultimate
connection between public virtue and
public happiness, will be its rcpug-
nance toa violation ofthosc principles"
We have now an enormous debt,
and oppressive tax to provide for its
interest and for current government
expenses. The evidences of this debt
must, in the nature Of things, work
their way into the hands of those who
have capital to invest at interest.
They were bought for grccnbacks at
greater or less rates of depreciation, but
The least very considerable; these
bonds must rise to the par of gold if
their credit and value are not impeach-
ed, and then we shall lave some men
who do not know any better, and not
few who intend the worst, to raise the
cry either Of payment in a deprecated
currcncy,a forced reduction Of the rate
of interest, or total reputation, for
peace has dangers as great as war. a
national debt is not a nationa! blessing,
but it need not he national curse.
The vigorous endurance of a burden
strengthens the carer tha dishonor-
able abandonment of duty paralyzcs
the rccrsant. Tlcr2 i - burden so
heavy as natiJA's shame, and no
abnsa of reason so shabby anl disgrace
tlI as m attempt to justify ito en-
ploy law and equity in the revolving
service of dishonesty. The best that
we can wish for the advocates of rcpu-
d;ati,n, in any form or degree, or
under any name, is the submission of
Jefferson and the worst, that they
81 all stand with him in the pillory of
history TO warn the next generation
against the folly and weakness and
political sin that they are committing.
In the first year of Washington's ad-
ministration the Government was not
able to pay a dollar of its maturcd
debt, or of the accrued and accruing
interest upon any of its obligations,
but its gol-hthcrs, who stood spon-
sors for the political instruction of the
infant nation, boldly undertook for it
that it would maintain the faith pledg-
ed in its name, and from that day it
grew in grace and favor with God and
maa. "Wc have them for an ensam-
pi1. 1."-Nationai american.