Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-01-21
ORR FINANCES.
The Cause Of Financial Difficulty, and
the Remedy Therefor.

The Cause Of Financial Difficulty, and
the Remedy Therefor.
To the Editors of the Union AID Dispatch.
Among the difficult problems that the
government OF this country has TO solve,
that of finances is perhaps exercising the
public mind more than any other. 1t is 80
prominently before the public, that like
Aaron's rod, it has swallowed all others.
And one of the results of this premium, is
the suggestion of thousands of systems of
finance; all of which have failed most
signally TO give that relief, the consumma-
ton of which is 80 devoutly 10 be wished.
IL is pertinent TO inquire into the cause of
this failure, which none Of the many sys-
TENS which have been suggested impresses
the public mind with the conviction that
il is the Sesame" that will unlock the
barriers that ct present arrest the stream of
finance, and permit it 10 flow healthfuly
again through its wonted channels. Ex-
pansion, contraction, specie payment are
pet theories the disciples Of each propose,
by the virtue of his system, to re-
store TO life the dead finances.
But may it not be that these persons are
mistaken in the nature Of the disease they
propose TO destroy? They treat the dis
ease as IL il were "a local one, and if il be
constitutional, their remedies, if they do
not prove an aggravation, will be a worth
less and costly experiment. Expansion is
pleasant always for the present, but its
final fruits are bitter, eide Laws Missis-
sippi scheme, and all similar experiments.
Contraction is paralysis of the body polite,
and specie payment perhaps worse. Elk
pansion and contraction are here use TO
mean above OF below the ordinary amount
of currency that commerce and industry
demand. Prominent among the various
causes that derange the finances Of coune
try are lavish expenditures and misrules
And if the question were asked, what il
the best system of fnance2 the general re-
sponse would be, condolences Confidence
in the stability and integrity OF the govern
ment. Ii a government have the comb
dence of its citizens or subjects, the finances
will general regulate themselves If il does
not possess this confidence, the ingenuity
of the greatest financial mind that ever
existed canEot regulate them. Ia there
any connection between the present dam
aged state Of finances and the general
legislation of the country for the past few
years nv hAAotAE To-
former has sprung from the latter. The
legislation of Congress with reference TO
the Rebel States is sufficient 10 con
vince the most skeptical that il does not
desire peace-that agitation il the breath
of its life. AID as this fearful agitation does
not inspire the people with confidence in
the stability of the government, there can
not exist that confidence thai will bring
health 10 the finances. The Congressional
Legislation that converts the negro into
golden calf" that il may be w0rshipped /;
that denotes the negro race above the
white; that thrusis a Cabinet officer upon
a President 10 whom he is odious; that
| gsgs the supreme Court; that desolates ten
sovereign States, makes the people fear that
| the Wild fanaticism which inspired such
measures may at any moment destroy the
government. The first step for Congress TO
! take in the regulation ofthe fnanees, is 10
adopt such moderation in all Tia public
measures as will convince the people that
! its reason has returned, and by this means
Win that confidence which is the corner
stone of all systems Of finance. Until This
il accomplished, all legislation ON the ques
lion will he futile.