Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-30
TEHE GREAT ERADEqATOR's
LATEST.
Wendell Phillips On she situa-
tfOn.
From thu Anti slavery stsndard.I
AHEAD.

From thu Anti Slavery standard.l
AHEAD.
Some Republicans imagine that thu
great battle has been fought. We tbink
there has been only a ekirmish for posi-.
ton. The two armies have measured
their swords Ia a struggle for the best Do
sitIon on the field. The Republican,
have succeeded aud hold the point O
| vantage. that is the government.
Tomorrow comes the fight Whether
:" to o-morrow" means the next two year,
or 1872, 10 one can tell. In numbers the
alarming to see that, with 8 uoboerai
rebel, like Seymour for candidate, aud 3
/ platform dictated by Forrest and Wade
! H amptOn, the Democratic vote was not
800 600 less than the Republican, in q
mass Of 4 00O, 600 votes; the Republican
/ majority being about six per cent. of the
whole vote. With such an enormous
minority gravitating toward rebeldOna.
the fature of the country Is critical Il
il idle TO suppose that such a stste Of af-
fairs will not have large influence on
q man like Grant. When we know who
are TO compose his Cabinet, we can d.
vine something Of his policy. We have
40 fear that be 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 imp2rtially, and thus give
opportunity for the great civlliziGg
forces Of the age to enter the South ana
remould it.
We see, therefore, with great encour-
agement. movement in several differ
ant quarters to submit q constitutional
= oh all -,
make suffrage impartial in relation to
national offices. We would have it so In
regard to all offices, State as well as na-
tiOnal. The amendment to the C0nsti-
tuition should provide that no State
should make any distinction among its
citizens in regard to civil or political
rights or privileges, the right to suffrage
or to eligibility to efiiee, 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 stigmatizsd the
discussion of the finance question as
premature. We shared in this mistake
3 while ago. But there never will be
any industrial or commercial activity
here until the capital of the nation is
free TO engage in such efforts. While
the Government borroWs 81, 600 O00 600
at better rate of interest than business
speculatOrs are likely to pay, there will
bs no activity 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 o'd
man-classes which aim at safety, not
great dividends. The moment Govern
ment attracts, by its large interest, the
Of ia -,
nightmare OF business.
The first aim of our financlers, there
fore, should be to reduce the interest on
the debt. Let the Govern ment paw Sl2O
il necessary, to buy back q Government
bond of tlG0. OaIy let the interest in
the bond be 4 per cent. 1t is not the
amount Of the debt that hills business
1t is the high rate OF interest. This is
the first principle to be kent In view.
The second is, let not labor be called on
to pay one dollar OF the debt. Labor has
paid lts share Of the national expenses in
blood and toll. The man who gave f ve
years in the field, he gho came home a
cripple; the wife who gave her husband
for five years, and whose brother was
starved at AndeFs0Bvill0 or LtSby Prisu'll, /
ali these have paid enc gb toward saving |
the nation. The capital which their
blood saved, and which had been half
worthless but for their valOr, should pay
all the debt. Tax every man who OWES |
more than 800 acres at q rate dSubliDg |
and trebling for ach additional 800; tax |
every man who has more than SI00 0q0 |
at 8 rate doubling and quadrupling for
every additional 500, 600 until the treas- !
ury bursts with the means to clear of !
the debt In twenty years.
DsU fha ne hf in aOin not hnpan.a
are legally bound, but because 1t has
been 80 understood. Honorable dealing
10 economy. But by one decisive move
ment buy It all up at any price and re-
dues ths interest, so 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, in all its interests, will easier
bear 3 debt Of 50 coo, 600 600 st 4 percent.
than 81, coo 600 600 or 81, 0G0, 900 600 at,
practically, 9 per cent.
What has given the Democratic party
its hold OH the people is that its lesders
have feIt, not seen, thesS two principles.
In the blind and hasty struggle to reach
them they planned payment in paper
and taxing the bonds,-pOOr, wicked
still they were laundering
efforts to reach good results. To content
the people and help the nation, we must
.nsuggrste these principles. To save cur
honor we must apply them rightly. Pay
in coin; but by one act buy up the debt
and reissue it at four per cent. Find the
means to do so by taxing capital. B9
sure you ask of labor only the means to
meet the current and ordinary expenses
Of Government
Tous 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 cur Gov
ernment, free from the elements of race |
or sex. WENDELL PHILLIPS.