The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-06-23
acknowledgements
Tuesday MORNlNG,! JUNk y.
IL The estimation OF the Wheeling

Iy The estimation OF the Wheeling
P,gnfer !, is Il heinous crime in a man
to be the possessor OF Government secu-
rites. Judging from the conduct of
that sheet It is not tho holding of the
bonds go much as the bonds themselves
that constitutes the ofTense. A bond OF
the Government represents money
loaned TO the Government at time
when money Was necessary toits sal
walton. In the eyes of every rebel it
was. OF course, M unpardonabie crime
fora man To- loan his money for such a
purpose. Nevertheless there were men !
who thought tho Government was
worth the risk. They loaned it their
money, and with 1t the rebellion was
overthrown. The bonds of the Govern
ment are simply the evidences of Its
indebtedness to these men, to whom
lust rs much as to the soldiers In the
field we are indebted for the deient OF
the rebellion. 1t is in this aspect cx-
acuy that Government creditor Is so
obnoxious to such men rs the editor
of the Register. Opposing any Prosecu-
ton OF tnc war by The Government,
wishing il discontinue and the rebel
liou success, it is but natural NIL such
pcrsons should intensely hate the men
and means whereby they We're them
selves discounted. Having labored
with might and main during the rebel
lion TO so destroy the credit Of the Gov
crnmeut rs to render 1t unable to bor-
row, they axe consistent now in trying
to bring ubont the rePudintion OF the
obligations given for the loans then OBJ
tanned despite their efforts. Arepudia-
ator In private life is man who fairly
contracts debt and refuses TO pay it.
We call such man Ecoundrel and II
swindier Where is the difference be-
tween private debt and o public one,
or between private swindlers and pnb-
lie swindlers2 What principle OF NOR
ality or justice applies 20 one and not
TO the other?
Ii IS no answer 10 say That capitalists |
took advantage of tho Government and
exnc,ed too high ra;o of interest. 1t
was 81 very dark hour when the Gov
crumeut went before the people and
asked for money TO equip and pay her
armies. Thousands of courageous and
loyal men wore ready to despair.
Il was felt on every hand to be very
doubtful whether the Government
could maintain. itself; aud it required
not little faith and courage to believe
at that time that money loaned TO 1t
was not absolutely lost. In these des-
perate straits the appeal for money
WAS made. The terms offered by Con-
Eress were accepted by the people, not
cxacted. 1t was u hard bargain, but
the best that could be done and it was
"A matter then of profound congratulate
ton that the loans were taken at all.
The burdens OF the national debt are
heavy; but who laid them on our
shoulders? Let us remember that, and
charge evory dollar of The tax we pay
where IL belongs. Let rs remember
too that this debt is almost wholly ow-
ing 10 our own people. The bonds that
represent it have become great part
orthc wealth of the country. They can.
not be repudiated without widespread
ruin. The two thousand millions of
money these bonds represent was con-
sumed during the war. The bonds
have tUkeu its place In commercial cir
cles ind constitute the basis of all bus
mess enterprise. Make them worth
less and the same calamities must fol-
low as il two thousand millions of |!
wealth had been absolutely destroyed. |
Reputation therefore means not
merely national in!smy and dishonor
but general ruin and distress. So
that honesty in this matter, as in all |
others, is best not only in morals but
in policy.
The Register ought to know that in |
assRiling men because they are bond
holders" it treads on the toes OF its own
friends. Very few men who cali them |
selves Democrats had any money to
loan TO the Government in its ex.
iremity. But after Its success was as
snred and its securities became valu.
aole in the markets, they were among
me foremost purchasers; and to-day We
nave no doubt more Government bonds
are held among mouIed mon bv Demo.
Gratis than BY Republicans. mIfsDvor
ana sack be fNult,' said Jack Fal.
st"n' God help the wicked. II ~ ha
ola ana merry be sin. then man
ola most that know is damned y =,
the ownership OF Government bond. ~
perdiuon, then God help the Vs.I,S''
Democrats here and elsewhere. So -.
find that the ''scalawRSarie,' ~ ~
party, like the La Crosse Den,o.ra, o sAs
Wheeling Register, propose to rob ,he'-
own friends.