The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-09-02
Southern Fiuancieripg.

IT was an axiom of the old aboltionists
that the Democratic party had its head in the
South and its tail in the North, and there are
changes of the war have not destroyed the
ancient habit of Democratic subserviency to
Southern leaders. The candidates of the New
York Convention received their most sincere
applause in the "Rebel yell' which rent the
air when the favorites of the Confederacy be-
came the standard bearers of the lost cause;
and the most important clause in the platform
was dictated by Wade Hampton, in the inte-
rests of South Carolina nulli6ers and seces
sionists. Nothing is clearer than that Demo
cratic triumph means Rebel triumph, and
that it would restore to power over the whole
nation the men who failed SO lamentably in
their effort to establish rival and hostile gov
ernment at Richmond.
1t has been the fashion to laud the wisdom
of the old pro-slavery oligarchs, and it cannot
be denied that they were wonderfully bold
and successful politicians, but as a class they
were destitute of all the higher attributes of
craftsmanship. If this nation should, by any
unfortunate accident, again fall under their
rule, we tremble for its destiny. They would
not only seek to accomplish their avowed pur-
pose of overthrowing the reconstruction policy
of Congress, but they would give free reins to
their old feeling of hatred for the North and
Northern interests, and inspired by the worst
passions, they would adopt the most desperate
means to achieve evil ends. The joint impulse
of their folly and their fury would inevitably
destroy the credit Of the United States Govern
ment, and by this destruction they would
spread financial ruin throughout the land.
If the people Of the United States,
especially those who possess real conservative
leaniDgs, could fully understand the natural
fruits of Democratic success, II would be
utterly impossible for Seymour and Blair to
carry a single State which was ever imbued
with loyal feeling. The assault upon the
credit of the Government made by Buchanan's
traitorous Cabinet officers, was one Of the most
important preliminary steps taken to facilitate
the organization Of the Rebellion, and If the
bonds issued to prosecute the late war are
dishonored, the Rebels will be reinspired with
a hope of renewing their Confederacy by the
impossibility of the nation acquiring the
means to crush second gigantic conspiracy.
Considering that Democratic ascendancy means,
essentially, Southern ascendancy, the nation
would have good cause to fear the destruction of
its credit, in the event of the election OF Sey-
mour and Blair, from the blunders of Southern
statesmen even If they were not antagonistic
to the national debt. With all their regard
for the Confederacy, these wiseacres utterly
destroyed its credit by unwise legislation.
One Of their expedients at critical period was
to tax bonds one hundred per cent. to force the
holders to exchange them for new loan, and
from that moment they were never able to
obtain, Voluntarily, dollar from the victims
of their double dishonesty. With these men
in power at Washington, affiliated with North
ern Democratic followers of Pendleton's plum
dering philosophy, the nation would soon be
bankrupt, and misery and misfortune prevail.
A RECENT Southern argument against the
election of General Grant has struck us as
being rather singular and unexpected. 1t ia
urged at considerable length that soldier IL
united by his calling, experience, and wnoiS