The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1868-03-10
THE FINANCIAL ISSUES IN THE
CAMPAIGN

It is not worth while to disguise the fact that
the financial question will, In all probability, be
4 prominent issue in the coming Presidential
campaign. II is q wonderful fact, and one alto
gether unprecedented, to- note the number OF
men who understand all about finance, who can
explain TO you by the hour financial theories
that they know will work, when adopted, to
charm. Men who have made finance a study,
and whose experience and observation have been
practically tested for years, are, In the estima-
tion of these modern fnanciers, mere tyros and
old fogies; and oil their systems and plans obso-
lete ideas. We must have q change, cry these
people. II will never do to move along In the
way we are going. In ordinary times we could
well afford to let these people talk and take 1t
out In talk, because their crudities could do but
little or no harm. 1t is not so now. The public
mind is i'll at ease; business Is stagnant to
degree that makes men uneasy, and at such
times, under popular government, there is no
telling what may arise. Grumblers, croakers,
visionary people and demagogucs are more
likely 10 lead, or perhaps we should say to mis-
lead, the people than sound thinkers and judi.
cious statesmen.
There are far too many people among US to-day
who are ready to rally under the banner Of those
who can shout the loudest, "Down with the
nd-holders"" Down with the National Banksr'
give us reputation" sc Let those who are
blind" who foolishly imagine that they have
nothing to lose, but everything to gain, by the
sudden overthrow of the national h onor and the
national credit, ponder and pause ere they plunge
beyond their depth and the nations depth into
this unknown sea. II there are evils In our
present system, as doubtless there are, for moth
ing that human wisdom has yet devised Is per
feet, still the question returns; VIII the suddeI
overthrow of our present system cure the evil
1t were easy to show that the majority of tn
theories and systems proposed BY the gentlemen
who abuse the bond holders and assault the Ma
tional Banks are impracticable and visionary +
the last degree. But admitting, for the sake O
the argument, that there are evils in our presen
system, still there Is question as to "whethe
it be not better to bear the ills we have than a.
to others we know not Of"
Without pretending, in this connection, Il
make an argument in defence of the Nationa
Banks, we will content ourselves with the sim
pie statement OF n fact or two. There Is on
fact patent to ala National Bank note Is cur
rent and taken without question In every pal
of the country. The bill is alike the same
Eastport as 1t 10 in Alaska. No one question
it in either place, or in any intermediate plac
town or city. We ask, can better circulatin
medium be devised than this, except gold; an
gold is not SO convenient, VIII" ~" sh~h hA'
feacneu specie payment, what better pap,
money than the National Bank bills shall "
need As yet we have seen no system whic
has been proposed as q substitute which, in OF
judgment, is At all comparable to 1t. 1t is cas-
to pull down. Anybody can be a destructiv
butwlse builders are rare gcniuscs in this worl
We shall pursue this subject further at a
timc