The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-09-30
SPIRIT OF THE PRESS.
EDITORIAL OPINIONS OF THE LEADING JOURNALS
UPON CURRENT TOPICS COMPILED EVERY
DAY FOR THE EVENING TELEGRAPH.
No Poetry in the Situation.
F1.oy,l the N, Y. Times,


penditures we accept, with certain qualihca
tions, its view as to the hard realities OF the
situation:-
''There is no poetry in the situation, and we
intend that it shall not be our fault IL the
people do not understand 1t. Hurrahing for
party will not fill the Treasury. Promises OF
Immediate relief to burdened tax payers are all
for ouncombe, and cannot be Kept me Wheel
is setting heavily IN the rut OF debt, and only
sturdy shoulders can give 1t an onward motion.
This work must come upon the tolllng millions
of the country vote as they may in the election
now before us"
We submit, however, that though "there
is no poetry in the situation," there is no ne-
cessity for representing that situation as worse
than it is. The Journal does not hesitate to
repudiate the financial policy of the New York
Convention; and it rebukes exaggerated pro-
misses of Democratic orators by confessing that
''hurrahing for party" will not satisfy the
financial demands Of the time. Why does it
cultivate the vice it censures by adopting the
absurd inventions of Delmar, and for partisan
effect, exaggerating the requirements while
depreciating the resources of the Treasury! Ii
the Jou nal really desires to enlighten the
people, by all means let it write on some better
basis than the fctions coined to order by the
doomed Director of the Bureau of Statistics.
The business and financial condition Of the
country is much better than the Democrats
choose to admit Without claiming for Re-
publican management the merit of perfection,
this at least is clear-it has succeeded in
largely reducing the debt, and in diminishing
taxation to an extent which has brought re-
lief to trade and industry. Moreover, the
general prospect of business is brighter than
at any period since the close of the war.
Neither the customs revenue nor the internal
revenue is in jeopardy; the receipts from both
promise TO equal the estimates, while, with
the exception of the Indian difficulties, there
is at present no apparent cause of enhanced
expenditures.
Nevertheless, it must be admitted that the
situation is not p0etical. Ample scope yet
remains for retreuchment and fiscal reform.
The debt awaits adjustment on a foundation
to be reached only after confidence shall have
been fully restored; the system of taxation
needs more through revision, and the internal
revenue administration calls for increased
efficiency. Much work remains to be done on
all these subjects, work which to be done
properly must be guided by intelligence and
honesty. Thus, while no reason exists for
despondency, there is no preteXt for excessive
exultation.
The question which behoves "the toiling
millions" to consider is, whether the Repub-
lican or the Democratic party, under the lead
respectively of Grant and Seymour may
most safely be trusted to meet the wants of
the fiscal and financial situation. Certain
facts are very strong in favor of the Republi-
cans. They have reduced the debt They
have cut down expenditures. They have
lessened taxation. These achievements in the
past constitute the best possible pledges for the
future. They are proofs that the party now
dominant in Congress is iutent upon mitigating
the burdens of the people as rapidly as the
exigencies of the Government will allow. The
financial policy of the party, moreover, is the
only one that can produce further relief. 1t
aims at the restoration of the currency to
healthy basis, and at the development Of
confidence which will facilitate q large reduc-
tion of the expenditures on account of the debt.
On these grounds, reliance upon the purpose
and ability OF the Republicans to alleviate the
financial consequences of the war is fully JUS
tilted.
But how is it with the Democrats Their
friend, the Journal of Commerce, admits that
partisan legerdemain is unequal to the occa-
sion. "Promises of immediate relief to bur-
dened taxpayers"-in which Messrs. Pendle-
ton & Co. largely indulge-"are all for bun
combe, and cannot be kept" There must be
patient and judicous management, with har-
mony between legislators and the moneyed
and business interests of the community. But
this harmony the Democratic policy would
render unattainable. Instead of establishing
confidence, that policy would excite distrust,
and eventually panic. 1t is policy of antago-
nism to capital, and to the interests on which
enterprise and industry are dependent. 1t
would increase the difficulties which now en-
compass the situation, and create others from
which 'the toiling millions" would be the first
to suffer.
The situation certainly calls for something
beside partisan shouting. Though much less
gloomy than the Delmars of the Democratic
party choose to paint it, it is sufficiently
serious in its financial aspect to awaken the
anxiety of solvent and thoughtful men. Their
preference is not matter of doubt. AS
between the Republican policy of good faith
and the Democratic policy of repudiation, they
are not likely to hesitate.