Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-02-10
Wiu RepudIatiou Come?

/. Under this head the Pits6urqh Post dis
courses. It was prompted thereto by be-
ing shown letter from distinguished
Democrat now occupying high official
position, in which the following sentence
occurs:
"The danger is that the Republicans
will place themselves on the platform Of
reputation. They will do any thing TO-
perpetuate their power; and ] Sflavingl
trampled every Constitutional provision
under their unholy feet, it won't hurt
their consciences-Heaven save the mark!
Ito repudiate the public debt"
A party that contumaciously disreqards
the organic law of the country-the law
that is above all other laws, and in confor-
nifty TO which all other laws are required
to be enacted-if it will serve Its pur-
pose, there Is no other law, no compact, no
obligation 1t will not disregard. The Gov
ernment is now being so conducted-in
this time of peace, long after war has ter
minated--that the Public Debt is being
largely increased. This increase is an evil
denee of the inability of the Government
to pay its way, despite the present grind
ing taxation. Unless this is arrested, and
that speedily, too, the demand for repudia-
tion will become as popular as it, became
in the matter of Railroad subscriptions
to which the Post refers. 1t is reasonable
that it should, become so. Instead
of the people being able to stand more tax
alton than that to which they are now SUBJ
jected, it is absolutely necessary that it should
be reduced Such is the condition of busi-
ness-so dull and so unprofitable-tha to
insure revival in it, the taxes must be
abated. A revival of business will throw
into the Federal Revenue Golfers increased
Revenue. For the last four months the
Public Debt has been increasing at a rate
to occasion great alarm. In round figures,
on the first of November last the Public
Debt was Two thousand six hundred and
twenty-five millions. On the 1st of De-
cember it had increased to two thousand
six hundred and thirty-nine millions. On
the 1st of January, continuing its upward
march, it had reached two thousand six
hundred and forty-two millions. On the
1st of February, it had increased to two
thousand six hundred and fifty-one mil
lions-an increase of twenty-six millions
in the brief space OF four months. In this
space of time, had there been economy.
and had the effort of establishing Negro
supremacy in the South not been persisted
in. the public debt would have been de-
creased at least that amount. IF nothing
is done to revive business, the receipts from
internal revenue and from imports will fall
off yet more largely and further increase
of the Public Debt will inevitably result.
Unless Mr.. PENDLETON's theory in regard
to the currency is adopted and the idea is
abandoned of making the Negroes in the
South political balance of power, and
thereby giving that country over to the
chronic political Instability and consequent
impoverished condition that prevails in
Hayti and Jamaica-Islands that at one
time enjoyed great prosperity and from
which general commerce derived large
revenue-Repuaiation ugly, hateful and
repulsive as it is, cannot be successfully
guarded against?