Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-01-30
MONEY POWER vs.. THE PEOPLE
PIunder the Ruling Idea Of
Radicalism.
What the Extraordinary Ef'
forts of the Leaders
Mean.


honestly believe that the political con-
test now being waged between the
President and the Legislature is ques-
ton Of the right Of the negro to suffrage,
or the Union men Of the country, So
called, to rule the rebels so'called.
Many Democrats, even, may believe that
the Republican leaders are honest in
their belief as respects negro rights,
universal suffrage, and all that But
thew are mistaken. The question at the
bottom of every move on the political
chessboara, in aud out of Congress, just
now, is one of money, pure and simple:
IL the New England capitalists and
Eastern boudholders generally did not
feel sure that they could control the
votes of the ignorant negroes at the
South in their interest, they would never
20 for reconstruction. But they do so
think; and what is more, since the
demonstrations in the West, in favor OF
Mr.. Pendleton's platform, they have
made MP their minds that the only hope
of the money power, that now sits like a
vampire upon the country, sucking up
its life.blood, is to bring up the brute
force of the South into full play in the
next election, in order to wipe out the
intelligence of the North. 1t was only
when Governor Morton, of Indiana, Mr..
Bingham, of Ohio, and others who had
been, confessedly, opposed to unconsti-
tutional measures in Congress, saw that
the people were moving on the subjects
of funding the debt at lower rates of in
terest, paying the bonds in greenbacks,
and against oppressive and needless
taxation, that they turned suddenly
round and threw themselves into the
breach in which the more radical wing
of the party had been until then fighting
a forlorn hope, against overwhelming
odds. =,
| wrote you some time since that all
the bond and national bank interest had
gone over from Chase to Grant. 1t was
a question of life and death with Jay
Cooke and John Sherman q Co., and
they chose the former. They are now
as strongly for Grant as they were for
merly strongly for Chase. Chase was
their first choice because he fully repre-
sented their principles and objects. But
General Grant says he is poor man,
and cannot afford to run for the Presi-
dency. "Tut, tut, my dear General "
say Cook & Co., A. T. Stewart, Cornelius
Vanderbilt, and the rest, don't talk
about money; we will give you all you
want. What is million of dollars-aye,
or five or ten millions, more or less-to
usP A mere bagatelle " 1t is the old
| story over again. Caesar had his Cr@sus,
| Anthony his Lepidus, and Louis Napo.
leon his Achille Fould They paid their
millions in order to confer imperial
power upon their proteges. Is human
nature so changed that this cannot be
done over again ? Is "our Cesar" so
immaculate that he will not have his
"Cresus Dives2" Must not A. T..
Stewart play the role of Cresus if " our
Caesar" means to win2 tell you, read.
ers, that the next Presidency is a ques-
ton of money merely-purely and simply
of money 1t has come to that. 1t is
whether money.power will so fasten its
claims upon the people that hundred
years of political strife, and perhaps
revolutionary upheavings, shall not be
able to unrivet them is whether the
people will now throttle the monster in
its cradle. General Grant is known to
be an ambitious man. and, by those who
know him intimately, is said to be an av.
aricious man. The two most essential
passions that urge humanity on to the
attainment of supreme power-the love
of dominion for the sake of dominion,
and the love of money for the sake of
money-are combined in his person.
There stands the tempted, with the very
passions that attract the tempter. There
stands the tempter, with the very objects
that attract the passions. The result is
as inevitable as that night follows day.
There is no halting, no indecision, In
Congress now. The money-power sees
that the blow must be struck, or it chance
of success is lost to it, perhaps forever.
The blow will be struck, and l fear that
the result will be most disastrous to the
material as well as political interests of
the people. Mr.. Sprague, in his speech
in the Senate yesterday, said that the
condition of the United States is to day
analogous to that of England before the
establishment of her national bank. 1t
is so. At that time the horsepower
not only controlled the people of Eng
land, but the government. The latter
could net borrow money in the market at
less than forty per cent The day after
the establishment of the bank money was
borrowed at eight per cent The money
power in this country is, determined that
the masses shall be taxed into pauperism,
but that the bondholders and capitalists
shall riot in luxury. The tax-producers
are to be ground down until every twen-
tieth man and woman is pauper, as in
England, if necessary. The tax-eon-
sumers will not touch the load with as
much as their little fingers. No, indeed
If the people rebel against it, will
not General Grant be on hand
with his cohorts Of black soldiers, if
necessary-with the mercenaries of the
provinces, as in Rome, in the time OF the
CRsars-to "shoot down the id repu-
dating Democrats and Copperheads 2
/ notice that Forney has sounded the
tocsin of alarm, and that Bingham, yes
terday. in the House, belched forth his
foul ISLANDERS against Mr.. Pendleton and
his platform. These men see the storm
coming, and are determined to avert It If
they possibly can. The stake for which |
they are playing is the biggest the world |
ever contained; It is for the empire Of |
the new world. tell you they will leave |
no stone unturned in order to insure sue
cess. II all other means fail, II the mil |
itary dictatorship, sugar-coated With the /
semblanA Of legislative authority. at
tired in a mere fg leaf Of Congressional
cloAing, will not answer their purpose, |
thew will yet declare the military dicta-
torsbip pure and simple, naked 70 the |
very cuticle, and enforce IL with the /
bavonels Of the army. Is Il for this
purpose that Mr.. Stanton, the "Carno, ]