The New York herald., 1868-04-27
iadicai Programme for the Fature-1'he
Coming Tide Of Imitation.

Coming Tide Of Imitation.
The leading radicals in Congress and the
radical press maintain discreet reicence at
present as to their financial schemes to carry
them over the Presidential election and to NIL
their pockets by stimulating all sorts OF specu-
lations. But we have every reason to believe
that an imitation of the currency to the amount
of one or two hundred millions, and perhaps
more, is contemplated. We see in the atrocious
impeachment business that this party will stick
at nothing to maintain their power and to hold
the patronage Of the government. AS it is
evident that the current of popular sentiment
is setting strongly against them they will see
the necessity, therefore, Of. adopting temporary
| expedients, whatever may be the ultimate
consequences, to carry out their objects BY
initiating the currency money will become
abundant, speculations and enterprises will be
stimulated, labor will be employed at higher
rates, the farmers will get high prices for their
produce, and there viii be temporary and
general prosperity. Every one will be in good
humor and look favorably, for the time, upon
those who bring about such a state of things.
The mass of people will not stop to think
about the fictitious and evanescent character of
such prosperity. They will swim along joy
ously with the tide caring or thinking little of
the inevitable reaction that must follow, bring
ing universal bankruptcy and gloom. And
what will the political leaders care 80 that they
can keep the people in good temper and
amused until they can consolidate their power
| and make money out of the imitation? The
deluge may come afterwards but they expect
to be safe.
| All nations in the midst of revolution, as we
are now, become reckless to a great extent,
and the leading revolutionsts are permitted to
carry out the most extraordinary measures re-
gardless of the future. That which under
ordinary circumstances and in settled times
would shock the public mind and invoke the
stoutest resistance is submitted to with apathy
or Indifference. Factions rule and not the peo-
pie, though all revolutionary measures are car
ried out in the name of liberty and the people,
however vile or outrageous such measures may
be. 1t has been so in times of revolution in all
| countries and it is so with us now. The Com
mittee of Public Safety in France was the type
of the radical Congressional junta at Washing
ton. Robespierre, Marat, Couthon and Danton
were the prototypes of Boutwell,, Butler,
Thad Stevens, Logan and the rest. History is
repeated in all such times. If the deeds of our
Jacobins should not be as bloody as those of
the French Jacobins it will be because the
spirit of the age is different; but as far as the
government is concerned and the despOtism of
faction goes the revolution going on is as
thorough and uncomfortable.
In the course of four or five years debt
of three thousand millions has been accumu-
lated and an amount of taxation imposed
greater than that Of any other country in the
present or any former age. people who
| have experienced such vast changes and have
become familiar with financial operations and
currency issues amounting to thousands of
| millions will not be startled by imitation to
the amount of few hundred millions more.
Both the people and the faction in power,
then, will look only to the present necessity
or apparent good and will be disposed to let
the future take care of ITSELF Everything
points to imitation, particularly the necessity
of the radical party to bridge over its Infamous
Legislation and growing unpopularity. We
have no doubt that this party will soon food
the country with paper money for the purpose
of creating temporary prosperity and to blind
the people; but it will be an imitation of
national bank currency and not Of legal tenders.
| The banks are mighty power and the radicals
will find powerful ally in them. The political
l III nbx-a a. W. xbo 1,ou
bined will be able to carry all before them and
do whatever they please. We shall have re-
publican government in name only, and the
suffrages Of the people will be as much under
the control of the cabal of politicians at Wash
ington as the sulfragcs Of the French are under
the imperial government Mt Paris.
With this imitation of the currency we may
expect to see the widest speculations and
greatest excitement for time. Stocks Of
every kind will 60 up; railroad, mining and
other enterprises will be stimulated, and the
whole country will feel the impulse. This may
last for two or three years but after that will
come q tremendous reaction. The bubble will
burst, like that of Laws South Sea scheme,
the railroad mania In England few years ago,
or the issue OF assignats in France, leaving a
vast wreck behind. Still some good will fol
low, for many of the improvements made during
the speculative mania will remain and be n
permanent addition to the national wealth.
There will be, OF course, tremendous smash
and general bankruptcy, and the very rich will
become richer, especially those who may know
how TO avail themselves OF the distress OF
others hut the railroads which may be con-
s'ructed, the houses built, the mines opened
or the farms improved will remain. Property
will change hands, but II win not he destroyed.
There viii be- n general shuttle all around, to be