The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-12-10

who will not agree with hin as TO the proosr
vtrdIc. He ooes not agree With the classic
MAXIM VoJ Popuit UoI Del. Hc, entirely
ra, ses over the great aud di aoresahle iac. TO
him. that he has been weighed a In the balance
snd found wanting. HIS dec riues lis deeds.
AMI his isdceds have been before tbe country
and debniuyely vo!eo ~pou. The country ma.
by au Imnt nse maJol1ty, sustaiue Congress in
tie policy OF recoLstructlou, aud pronounced is
verdict upon Jo0n on. No IN IN VINO possesses
good sense Noud, after such thorough can
vass OF the merits OF his tleOrits auu such
decided pronunciation against them. venture to
say, ~ the face OF millions OF hIs Countrymen,
spt ng in vast majority the sen iments OF The
nation, that he is gnt and they are wrong. His
plsn 10 pay OH the LatIopal debt IN six cen ears
and gbt months has at least the merit OF novel
tv, IN 6ls, that the scheme OF repud avon tiers
from that OF Pennle on, aud therefore may be
cons dered orgiual PeudletOu favored an tD-
mrnse issue of grpenbacks TO pay oil the Oord ds
which are pay able in coin, bat JonnsDn deserves
credit tor having dlscov ed pew way 10 cnpat
the public crenItors. HIS idea is 10 take fl 1m
tue creditors OF the Government all interest due
upon ibe'r bObcs and securities, and prom sed
to be IaId until the debt is paid. He has, by
ar hmeucal calculation, ciphered out thtt by
cheating The public credi Ors out OF Their i0te-
rest during term OF sixteen years and eiel
moths, it Will be pos lbe, by app"opr alug
the money thus 'conveved,' Ia pay of The
prpc,pa of the public deot in the time named
"a most remarkable AMI highly successful
piece OF hnaLcie. ing"
The "Press"
in its lorg leader remarks:-
I'm The subver ion OF the whole reconstruc'
tion system he (the PreSident) oretends to rec
mt least partial return to the Con5tl .utlon,
word oftentr u.s. d aud worse outraeed by An
drew johnson than ny auy man since the time
OF Catlline. But IN this respect he has recorded
bis own iqnominy, in that he has SAID, When
You hear a man continually praung about the
CoDst ution, SPOT him-he is traitor Mea-
sured by this standard, ne is treply dyed and
Gamned.s
The "Ledger,"
after commenting upon the manner In which
the Message was received in the Senate, says:-
The very extraordinary method Tor paying tae
public deb aud tor '5qcre1lv ooserVIug the
national credit recon mended by the President,
demands immediate C jmment. HIS lang lage Is,
that ut woulj seem To be bat just aud equitable
that the SIX per cent. interest Low PAID Dy the
G"veTnDt mt should be applied TO the reduction
of the interest IN senlannual instalmeLts, which
in Xtetn years aad eight months would lQqi-
Gate the entire national debt Whether this
means that Inc Interest sh)uld be wi hneid
from the boudnolders. and be applied TO the
payment OF the principal when the bonds
maIUre, or whether the payment OF the interest
10 the boudholders for the next sAietn Yeas
and eight months is TO be CONSIDERED q roll
discharge of toe principal at the end OF that
time, Is not quiIe clear. But in either case 1t
the worst torn OF reputation set bIoached b.
any public man. The reasoning by which the
President reaches tnis star ling proposition Is
| ths:- That the bondholders oct Fix per cent.
interest in gold, whIcS, be says equals uin" per
| cent. ID currency: that ihey Then convert the
bonds INTO capital in tn natioual banks, and hus
| get six per cent. more in currency, making
fifteen per cent. that their exPmptiou from
| taxation equals TWO per cent. making IN eil
spNeDtt en- per cent in .eIest; that tue holde Got
! the bon0s get them az low la'es. and have thus
! already received a larger amount in interest
than their original 10 'ueut, and th ,t III
sioera:on of these advantages the form of pay-
mept ne proposes is iair aud liberal co npen-
satlon. There could not poSslOy be IN q State
| paper grosser bud get Of error. We have
never seen more utterly uDaccountable miscou. d.
| ceplon and sbort-sgnted view OF au Important
public matter by prominent public man"
The "Ase'
thinks the Message
! "a calm, temperate, well written document,
| meeting all the open ques ions i'll u nIanly
| manner, and supporting the views enuncIated
| with facts, law, ami logic. The message Is an
! IN creating one, both on account OF the variety
| and importance OF Gne topics treated, and the
| able manner in which they are handled. an /
| Will command aud receive universal attention
| both at home and abroad
The "NOrlh American"
under the caption "The Last WALL" IN comment.
ing on the Presidents declaration that Recon
siruction was failure, SPEAKS as follows-
"There can be no mistake as to the meaning @
| and application of his language. II occurs
! mmedIatelS after the reference 10 the Recon-.
strucuOu la va, and IS followed by a s,a:ement
|
are directly tIaceable to violations Of the
organic law aud excessive legislation; and
| immedia'e'y points to the Reconstruction laws
as striking illustrations. He alleges that after
| a iaIr triRl they have tailed, and prove pernl-
cious in their results, and he proceeds TO de-
| n and their repeal.
I'VE agree with him that the eutir Union
has been anitaed by grave appre aen Sions OF
| troubles which might again InvolVe III peace
! OF the nation for of that there can be no qu S.
tiou; but the agitation has resulted from the
revival OF Rebel homes, schemes, cOnsOiracies,
| bandltti, aud anarchy, by his own mIstaS Gu
| policy In interfering with the enforcement oil
| he Law and preventing the punishment of out
| laws and Rebels. Under the circumstances,
his reiterated demand for the repeal of the re-
| construction laws, although nothing more IN "a
what might have been eXpec ed rom such
quarter, is simply made to cover up the dis
graceful failure OF his own policy"
Tho "POsp
Remarks:--
"Corgress was exercised upon the reading o
| the PIesIdt nrs renewed defiance. The provo
cation was great, we amt, but whether Con
| gress should in reason say word, atteI
refusing to do its duty BY this uu worth
Executive, IN the Court of Impeachment. doe;
| ! OF seem plain. 1t should have kRolon Audre \
Johusou-hIs principles and his capacities FOL
evil. Thank Heaven, he has had his last oppor
tunlty Of insulting Congress and the people,"
GRANT.
|