Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1868-12-24
UNIVERSAL BANKRUPTCY.

The proosbility--nay, the possibility o
Supreme Court decision, adverse 10 she
constitutisnslity Of the present legal ten
der Law, casts thrill Of horror through
the csmms rcisi nerves or the country. Un-
doub,sdly the great majority Of ssh' 'ntslli-
gent masses believe the &C. to be Illegal
when measured BY precedent and BY the
constitution OF the lard We live in, and yet
Tor all ,ha,-and while al protssa to bow
in humble submission T. the laws, and
While Ill wish 10 see the constitution vim
dica,sd in al respects. they shuddsr At the
possibility Of an anti legal tender dssision.
Ii would undoubtedly result in the most
|eserw h.l ming inanslal crises ever known
Ia the country. If i, did not plunge the en-
tire commercial community. into hepslss
bankruptcy. Already We are lettering I'm
|der IN enormous ineumbrance load un-
deg which the people groan a. they labor
alsng bu, the sudden drsp to specie ba
sis would add another Thousand million to
that immense load Of debt. 1t 10 feat
uall tl.assnt to contemplate. To be
sure We o1gb; to ge, down 10 specie ba
%, bat safely. Tho sailoY 81 ths mast
head sud icaly demanded on deck, might
llu mp iewnat once and be In his proper
p,scs ia the twinkiing Of An eye. but the
oaldsn leap would be his ruin, and ferfst
the object sought TO b. obtain
ed lie must take the proper
ssurss 10 make ,he descent. though it takes
longes. and though his presence 10 longer
needed. So, too. with our elevated green
back currency. Il 10 important that il be
brought down from iis Inflated state, and
b placed On psr with staple values. but 70
perform that feat a single blew would
render the specie basis. whom thus achieved
most nwholsssms and most disastrous
eonditisn. We must come TO . specie
basis-- but the way l. bssel with dimcu!
ies. II must be sarsfslly mapped out !.
Phs grade must - gradually and compare
livs'y easy II must BE- travelled With great
ARE; aud by adopting this course. the
assired plain Of specie basis may BE- safely
Ind essily reached. II will take several
Pears say from four to ix--but ID will be
p'as we'll spen, il We get down 10 . healthy
bosdition in that time.
Tas negro Msnssd. who has been sent to
washington 70 oil the unsapirsd term Of .
.,sisiana Csnsrsssman, ia justly indignaut
y the reception he has met with. lie had
as right 70 expect that delegation Of his
Rhits breihrsn weuld meet him aud vel.
oms hun ~ the fir.l "cnllud" member u
he United States Congress deserved to be
kslcomcd, that they would escort him 10
g seat, aud that the whole bouse would
iss and remain standing until he was seat.
u. Bat. Instead OF That lie has experi>
need only severe letting alone. lastssd
1 beng escorted, Oh even admitted to the
b.. h. claims, Congress has taken the hol-
lsy recess without =, much A. inviting
ln take drink. lie il thus left the
,srnstvs Of going homo in disgust, or r.
banning n W sshlngton, At his own expci %
% tavern bulls, until sitter New Years, and
ben, rrehably TO find that Congress is 100
nsy - attend TO him. Asa loyal person,
has grounds Of complaint.
A CoSvssriox ot delegates. representing
y German speaking societies If Chicago,
% he'd in Turner Hail recently. The
invention was intended to be the nsbul.r
I'as ETA party organxati on TO oppose the
y Temperance party recently organized
lllinos :. Tbs attendance WAS large, and
cladsd number Of philosophers snd
efssssrs Of social science Of distinsuishsd
i.ty.