The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1868-11-24

Woodsfeld, Monroe County, Oaio.
Radicalisnr and Reputation.
Mr.. Robert j. Walker writes with ex-
cellent point and emphasis: "There is
but one party really and sincerely in IA
vor Of the payment of the public debt
and that is the party advocating vast
decrease Of the public expenditures."-
The brief declaration brings home some
timely reflections, and especially defeats
and spurns the charge that the principles
of the Democratic party lead to repudi
alton. On the contrary that party, re-
commencing that there should be saved
to the nation the immense bonus RoW
paid to the bondholder at the expense
of every other public creditor, and that
tho expenditures Of the Government
should be reduced to the severest stand
ards Of economy, is really endeavorine
to make the public debt a separate one
to. bring it within the limits of possible
payment; and to this extent, it at once
conserves the credit of the government
and intelligently befriends both bond
holder and tax payer. 1t is the Radical
party, making impossible terms with a
special class of creditors, gorging the
bondholder with promises, constantly as
cending in its career Of mad extrava,
gance, swelling every item of .expendi-
ture, crippling the industry Of the coun-
try, tying up capital, and putting the
credit of the Governmental pillory, that
is really, logically, and essentially the
party of reputation.
We have already had, in recent figures,
striking and fearful expositions of the
public debt as accumulated by Radical
misrule. We have noticed that the ex.
penditures specially authorized for the
current fiscal year, will be s4S2, ,059, ,2Oa
%, thus showing an increase of expendi
ture in the current fiscal year, ending
3Oth June. 1869, the fourth year after the
war, of S37,145,59s o. as compared
with the year preceding. Add to this
the fearful exhibit, that the interest Oh
the public debt for ten months past, has
increased at the rate Of S3,O00,O00 s
month, and we may well ask, with fearful
emphasis, if the story of Radical profit
gacy and corruption must not logically
and necessarily end in the infamous
depth Of Reputation!
Politicians promises and party assev
erations avail nothing against the colo
array of statistics. The Radicals may
butter the bonds with golden promises
but doing everything to make the per
formsnce impossible, lessening the means
and increasing the resentment of the tax
payer. plunging the Government into i'm
possible obligations and incxtricable ex
travagance, Of what avail are the fine
words at Chicago! Surely we know o.
no greater delusion, even in the excess
and madness Of partisan zeal, than thai
which has impelled some men holding to
the shallow letters of political plat
form, to regard the Radical party as con
serrator par excellence Of the financia
faith and character Of the Government
and as representing peculiarly the intcg
rity Of the public debt.
The true question is not what the Rad
ical party proposes, but what it is able
and likely to perform. Briefly, the choice
between the Radicals and the Democrats
on the subject of the public debt is thai
between the fulsome promise of the
spendthrift and the conscientious ant
closely calculated proposition of the
economist. The intelligent creditor vii
close with the latter, and refuse the Rad
ical note of hand, even if it is written or
eilt-cdgcd paper, and is gaudy witt
flourishes.
But however public opinion mayipaus'
on this subject, il is consolation for th'
Democratic party that its views of th'
public debt must constantly strengthen
hy time, and that on this issue, it mus
steadily develop and improve its strength
As the expenditures Of the Government
thickcn under Radical rule, and as th'
country hastcns on the road to ruin, 81
in due proportion must be developed th'
wisdom and necessity of the policy tc
reduce expenses. to make the public
debt manageable one. and to extricat,
4 simple law of economy from the mac
career Of ignorance and empiricism -
The public debt question is just begun
1t will soon grow to proportions tina
will overshadow concerns that now com
pete with it; it will dominate other ques
tions of party and the cloud no bigge
than maps hand, may soon become til
black surglng banner of an irrepressibl
war The Democratic party has only t
preserve its self possession, to maintain
steadily itsproposition, to keep it befor
the people, and it will yet see public at
tpntion brought to it, not only by the me
chanical dint Of repetition but by tn
moral force Of reaction. An Issue is yet
/ we believe. destined to be erected as tn
controlling one Of American politics, ant