The Portland daily press., 1868-08-12
Are the People Able to Pay the Rebel

This is fast becoming practical question .
1t would become instantly question of over
whelming personal and present interest to ev-
cry taxpayer were there any probability that
the Democracy would succeed in the Novem-
Der election, for that party is distinctly pledg-
ed by necessary implication to pay 1t. This
can be proved to the satisfaction OF every rea-
sonable man.
The Democratic platform says that the re-
Construction acts are revolutionary, unconsti-
tutionaI and void So say all the Democratic
candidates from Seymour down to Pillsbury
and Shaw, and all the Democratic papers from
the New York World down to the La Crosse
Democrat. The ratification by States reorgan-
lied under the provisions of those revolution
ary. unconstitutional and void laws is all that
gives validity to the 14th constitutional amend
ment, and that amendment is all that forbids
the assumption OF the Rebel debt. If the re-
construction laws are void, the amendment is
also void, and any party desiring to adopt the
rebel debt can, if it gain the ascendeney, make
provision for its payment.
Let us see what the disposition of the De-
mocracy toward this debt is The Southern
wing of the party is of course unit in favor Of
that policy. They have hitherto, by the mag
nanimity of the Northern people, been exempt
from the burdens that the national debt brings
upon loyal men. Even the cotton tax has
been repealed. But they have always felt
reluctance to abandoning the creditor who
loaned them money to fight the United States.
The idea of payment was of course given up at
the close of the war, but the moment johnson
began to drift Southwark politically, the Reb-
els began to gather up the waste paper repre-
senting the Confederate debt, and and pre-
serve it.
AT the North the feeling is no doubt weaker,
but it exists. Wade Hampton, in his Charles
ton speech, relating how he got the words
revolutionary, unconstitutional and void" in
to the platform, says that Northern men were
among the heartiest endorsers of the senti-
ment. Remember now that with the recon-
struction acts falls the 14th amendment, and
that with the 14th amendment falls all securi-
~ against the assumption of the rebel debt
Remember, to-, that Northern Democrats
unite with their Southern brethren in disput-
ing the validity of the laws, and you have a
startling picture af the danger which wauld
threaten in case of a Democratic success.
The chairman of the Democratic National
Committee is Mr.. August Belmont, Jewish
banker who acts as the agent of the Roths-
childs The cotton loan was taken largely in
England, and is to considerable extent in the
hands of British capitalists Belmont is the
agent of these capitalists on the one hand and
of the Democratic party on the other. What
his views are on the subject of the pay ment of
the Confederate debt has never been explain
ed, but his position certainly is very favorable
for doing his English principals good service.
1t is worthy of remark, too, that the class of
Englishmen represented by him are favorable
to the success of our Jacobite party.
There are many individuals who from vari-
GUS reasons would not be unwilling to abandon
several of the provisions of the 14th amend
ment. A rogue would feel no hesitation what
ever in seeing the provisions recognizing the
sacredness of the national debt and of the
soldiers pensions and bounties annulled; a
cast-iron Conservative would have the same
feeling towards the clause that Furnishes with
loss of representation States that disfranchise
on account of race or color; both of the classes
would unite in overthrowing the clause de-
claring the citizenship of all persons born on
the soil of the Republic. But who except the, |
English "bondbolder"-whc in Democratic es- /
timation is of different and more estimable |
ace than the "bloated" individual of the |
American species gain anything by |
taxing Northern laborers to pay the rebel |
lebt? The amount of that, debt would add per- |
haps fifty per cent. to the amount of our own. |
1t is addition would necesstate taxation in
deed burdensome.