Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-28
THE GREAT ERADIOATOR's
LATEST.
Wendell Phillips on the situa-
1iOn.
From the Anti Slavery Standard ]
AHEAD,

! AHEAD.
! Some Republicans imagine that the
great battle mas been fought. We think
/ there has been only sklrmish for posi-
1 tion. The two armies have measured
( their swords in 2 struggle for the best po-
sition on the field. The Republicans
have succeeded and hold the point OF
vantage, that is the government.
Tomorrow comes the fight. Whether
tomorrow" means the next two years
( or 1872, 30 one can tell. In numbers the
( armies are about equal. 1t is most
alarming to see that, with q mobocrat
rebel, like Seymour for candidate, aud q
( platform dictated by Forrest and Wade
Hampton, the Democratic vote was not
/ 300 900 less than the Republican, in s
mass OF 4. .O00, 600 votes; the Republican
msjority being about six per cent. OF the
/ whole vote. With such an enormous
minority gravitatiug toward rebeldom,
the future Of the country is critical. 1t
/ is idle to suppose that such state of af-
fairs will not have large influence on
s man like Grant. When we know who
are TO compose his Cabinet, we can di-
vine something Of his policy. We have
10 fear that he will give Us Democratic
cabinet. We have no expectation that
he will give US Radical one; the most
that We dare to hops is that he will exc
cute the laws impsrtislly, and thus give
opportunity for ths great ciVilizing
forces Of the age to enter the South ana
remould it.
We see, therefore, with great encour-
sgement, q movement in several differ
ent quarters to submit constitutional
amendment obliging all the States to
make suffrage impartial in relation to
nationsl offices. We would hsve It so in
regard to all offices, State IS well as ma
tionRl. The amendment to the Consti-
tuition should provide that no State
should make any distinction among its
citizsns in regard to civil or political
rights or privileges, the right to suffrage
or to eligibility to Gliiee, on account of
race, color, or previous condition. The
Constitution will not be perfect till sex
also is included in this last enumeration.
Some journals have stigmatizad the
discussion of the finance question as
premature. We shared in this mistake
while ago. But there never will be
any industrial or commercial activity
here until the capital Of the nation is
free 10 engage In such efforts. While
the Government borToWs s. ,000 600 900
at g better rate Of interest than business
speeulstors are likely to pay, there will
be no &C c,ivity in business. In & healthy
condition Government should pay only
or per cent, just enough to attract
sluggish capital; that of women, chill
dren, savings banks, and retired old
men-classes which aim st safety, not
great dividends. The moment Govern
msnt attracts, by its large interest, the
funds of active men, it is the fee and
nightmare Of business.
The first aim of our fiasneieTs, there
fore, should be to re3ucs the interest on
the debt. Let thu Government pay Sl20
IL necessary, TO bay back Government
bond Of s100. Only let the interest in
the bond be per cent. It lis not the
amount Of the debt that kills business
it is the high rate of interest. This is
the frs, principle to be kept in view.
The second is, let not labor be called on
to pay one dollar OF the debt. Labor hss
paid its share of the national expens es in
blood and toll. The man who gave five
years in the field, he who came home q
cripple; the wife who gave her husband
for i've years, and whose brother was
starved at Andersonvllle or LIBBY prison,
ell these have paid enough toward saving
the nation. The capital which their
blood saved, and which had bsen half
worthless but for their valor, should pay
all the debt. Tax every nsan who owns
more than 800 acres at q rate doubling
aud trs5iing for aeh additional 500; tax
every msn who has more than 800 600
at rate doubling and qusdrupiing for
every additional Sl00, 600 until the treas
ury bursts with the means to clear eff
the debt In twenty yeaFs.
Pay the debt in coin; not because we
are legally bound, but because it has
been so understood. Honorable dealing
is economy. But by one decisive move
ment buy 1t all up at any price and re-
duee the interest, 80 as to save business
from this incubus. No bondholder will
reluct or be obstinate, while reputation
is whispered In the plots of parties. And
the nation, Ia ell its interests, will easier
bear debt OF S. 600 000, 900 at 4 per cent.
than 1000, 000. 600 or s., 000, 900 900 at,
practically, per cent,
What has given the Democratic party
its hold on the people is that its leaders
have Jet, not seen, these two principles.
In the blind and hasty struggle to reach
them they planned payment in paper
and taxing the bonds,-poor, wicked
methods, but stili they were biundering
efforts 10 reaeh good results To content
the people and help the nation, we must
inaugurate theso principles. To save our
honor we must apply them rightly. Pay
in coin; but by one act buy up the debt
aud reissue it st four per cent. Find the
means to do so by taxing capital. BE
sure you ask of labor only the means to
meet the current and ordinary expenses
of Government,
Thus We may remove the most perilous
element from politics, and disarm the
Democratic party. Thus We leave the
field clear for the special work of this
epoch, the reconstruction of our Gov
ernmsnt, free from the elements of race
or seq, WENDELL PHILLIPS.