The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-21

round numbers 81 ESQ, coo 900 currency have been
contributed by the people bstyeen April j. 1885, and
enormous anaount-more than $500, 900 900 year
by far the greater part has been spent for the
belion caused US to create and above our vast
yearly contributions during that war. In those
over and above war debt and war interest paid as
Mr.. Atkinson has proved were less than Se2 o00O0o
Of "a nssans Sas
thing like this 10 show; reduction, In lutte mora
than three years OF 0nequarter OF great debt ana
diminution or the annual expenses OF vast re.
pubic like ours TO small o sum. tBy the oicial
statement OF the current year, we learn that ~.
absolutely certain that the expenditures" including
interest on the debt and whatever may be dsbnrsed
ior war debt and war Interest," viii be much less
s212000 000 Add the interest OF the debt at six per
cent CEN: say sl2oooo,ooo. and you have less than
expenses OF Great Brtaa. with rs debt fnded az
three per cent are $3.50 those OF France are
Ing az this moment about twice as much as we SPEND
While the principal OF the French debt is quite as
large as ours ana mat 81 n, Engsh sixty per cent
the French three per cents ut cox, while SIX per
cents are hardly To- Is not this the very essence Of
position of those two great countries, the French
cnpire and the American Union l shan
or their institutions or their schemes Of
tional life. Look only at financial facts.
than that OF this Union, say sS,oooooo. The latest
anu most trustworthy statisticians compute the
francs say S or exactly What was the
estimate OF our production a few years ago. Tie sum
total OF her deos Is Just equal to ours; her yearly
four hundred annual millions Of dollars spents
Thanks TO the superior credit enjoyed by the etnplre
that OF the Uuion the interest OF her debt is out
sos 900. gold. This leaves her 1888 1000. And
how does she spend these S335,000,0oo? The army
and navy take each year ia time OF peacethe rom
clad peace, which Is all Europe ever kn0ws-about
$1,000, ooo Tue estimates for the current year Of
together are S5z 100000 in currency, equal to
$4,000 00o in gold, or 500 100000 less than those
D ea W. s1 france w
numerous population than our own, and the same
amount Of debt and annual production, spends In tmo
Of peace twice mucl as we do; that her army and
navy expenses are three and half times as large as
own; that she has at this mo nent ready to re-
spond 10 tho first cannon Shot in Europe 100000
soldiers equal to any the world ever knew, oneith
more than The whole number we dsbanded as soon
ber too, that her production seems almost to have
reached its limit that her population IS nearly sta
uonary, having scarcely doubled in ITO years; that
her expenses have been annually increasing with
dizzy speed; that her deot s rapidly augmenting.
remember that our population doubles in little more
than twenty years, our annual production every
dozen our Ian vn
per cent in three and quarter years-and then be-
hold France borrowing money Win pefiec ease az
pudiation, bond taxing ana national bankruptcy.
Why, It was but Yesterday that we all saw the mpe-
rial Minister of Finance put three per cent loan
the market which was so greedy taken at 90 u that
he had offers of money about equal to the whole Of
asked for less than S100,U0o0 0o There were 73292
persons who subscribed for more than 600 GOO
francs OF annual rentes,n representing capital Of
1900, 900 0 10, and tirtyfour times as much as NJ.
Magne asked for. Within one week coo
francs 10 coin were deposited ass as guarantee Wen
which is not ours-be proud of their mighty arna.
ments and their apparently unlimited credit. Wei!
national credit. Is 1t even conceivable, Il the pru.
dent and mastery financial policy which the repub.
Which Is not yet fully Appreciated At home and en-.
trcy unknown elsewhere, that we are TO see our Sax
great oe EMPIRES not more wealthy vastly more
expensive and much less progressive. place their
funds at three and half and four and half nterestt
The American people had confidence enough IN
themselves during the war. Republican and war
democrat together bore arms cheerfully against the
common foe, and went into the death struggle as II
1t were festival Whence comes this abjoct fear.
or this aecaon OF fear this despair Of our destiny.
when the national future was never so radiant as
n0w9 Let US resolve to return to specie payments,
which can be done as well next year as next centu-
81, which Converts US all whether we ike il or NOT
into nest OF gamblers; let us, In the words OF the
partia or TOTAL open OF covert as national
crime;n let refuse to follow that financial tgais
to clear ourselves OF debt except by paying it when
DUE Is sure to lead MS into the slough OF despond let
who are to come after US, that most precious o.
national possessions, the national honor; let
ing s national g ruin when tho road to naon
prosperity lies straight before u.s.. let us elect
@ ana PTsd Who % the laws US have i've
land, not to trample them In the dust, and we shall
soon see the spectres which have haunted us going
back to the limbo OF departed spirits. Who Is that
My friends, there have been times in our history
when 1t was necessary for men TO ask each other
party candidate for the Presidency Of the United
throughout the land, above the age OF six Years, to
ask TINS summer. VINO Is General Grant, There
Identical with the history OF their country But tue
record OF this republic during the most eventfui
whom we hope to see a elected But suppose the
question had been asked ten years ago. Hally some
swain from the FAR West might have told us OF re-
who had served through the Mexican alter gradu-
ating at West Point, had subsequently retired 70
o farm near ST. Louis, but who Just before
nto the leather s,A business At Gaena plain
seen. driving an oxteam, but never "a baky
one,r into the streets OF st. Louis, but who never
OF the Mexican war save Buena VISTA and That he
had been promoted twice on the field for gaantry.
little army, the leather dealer saw small cause for
taking airs thereupon, and II he nourished any am.
bition, as no seems to have let out in moment Of
weakness, he had visions OF sidewalk, to be bulls
from his own modest mansion to the railway station
at Galcna. Suppose the question asked q century
history as to falter in their repiys 1t Is doubtful
whether he has even yet been thoroughly APP
PicNiutcus W ncu iNiug nuibu DeCOlIeS Suuuculy
before our eyes historic parsonage 1t Is dincu.t,
perhaps. to Judge him US carefully rs we may the
heroes Of the past. am no hcrow shipper and 10
has always seemed to me that the true hero Of
this most important epoch In our history Is
the American people, Whatever was greatest
aud best throughout the war was done "
the people,. Ana 1t Is exactly because Gem
erai Grant Is singular embodiment OF many OF
tie most prominent characteristics ana best vir-
tues OF that people, that lie seems the lttcst to
be chosen chief magistrate. believe that from
the time our generassimo received the surrender OF
the rebel armies up 10 the period when Inc became
the candidate of distinct party organization ie was
rare enough TO find any disposition to detract from
his fame. For one confess that the sentiment I
ind most necessary to guard against when contcm-
plating mis- wondrous career and the strange sim
pllcy aud repose OF his character, Is tendency to
over enthusiasm. Through the misty atmosphere
which belongs to the past conspicuous persoiaycs
apt To dilae into more than mortal proportions.