The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1868-12-22

fFroul the bgstoa pasti
The plan presented By President
johnson for the payment Of the debt Is
80 cceentric aud preposterous, lei the
motive be a. honest as il may that it
fairly de6ea deliberate criticism. Pub.
lie and private morals in business mat
tera are not vet 80 variant, that d gov
eminent may pursue a course OF con
duct when ia the individual, would be
vociiorously condemned. A man who
should seriously propose to his credi-
tors to stop the interest on bis own pa
per. because be thought they had al
ready received What they we're equita-
bIy entitled 70, and should henceiortb
proceed tc apply the semtannual to the
liquidation Of his obligations, would be
viewed as commercial outlaw Aud
government IS not the less strictly
bound by it, distinct pledges. Bat
when 50 sensit,yoa n element as IL cred
X Is likewise thrown into the question,
the experiment is one simply 81 sure
sa,oide. one can conceive Of 70 more
speedy method o. dashing the public
credit aud aii that hangs trembling on
it, TO the ground, than to seriously en-
terrain d proposition q such a nature
as this
(Fram the New Yo,k Iimes.l
II Is scarcely credible that Presi-
dent, whose Secretary Of the Treasury
calls upon congress to affirm, BY joint
resolution. that The principal q all
bonds Of the United States is be paid
in coin, an means Of strengthening
the national credit, shord himself 60
over TO the party Of conditional rcpu-
diators. But We cannot see any other
Interpretation d which this PORTION Of
tue message is snsccptible And its
PRONUNCIATION in this shape, at a time
whom tie removal u al suspicion Of
bad faith from tie public mind is os-
senGal TO prosperity, IS circumstance
that must strengthens the feeling Il re-
lief which Nj. JohnHm's retirement
from high position IS calculated to
awaken. An executive who coupsels
tsmpAripg with the public creditors, is
more than an embarrassment he is a
calamity deliyerance from which must
make as thankful
fFrum the Nes York TdDuuel
Other repuiiators haye only dared 10
propose 70 pay the principal Of thc debt
10 paper, bat this new apostle Of iuiamy
advises the American people NOT d pay
the principal At al Sixteen years Of
interest Is enough "a pay l. not this
financial plau which an intelli gent lu-
matte might he ashamed If Happily
for Ms. the counsel COMES from an inn
pcacbed and convicted officer We
have done wi,h Johnzon; We .hsll spon
begin aucw with Grant. sad 90 the
houe6 administration 5i the faiu tie
" rlduay loo iorwaii aih oaadeuce.
Let ihi- ema osue 20 We must not
oyelerhmatc hls power 10 harm SIS now.
tFrpm iae Mas Yorl saa.i
President Johpsons proposition i
as atrocious in principle a i Is bung.
ling ii form. II we are to tempt the
highwAyman's game. and cry, Stand
and deliver 10 our creditors let q,
a. Il q ones instead % postpontng i
seveuieen years We have as good 8
uebt % DO II uoa As Sc ehalI have then
AID Ne should save y doing i nog .
vers pretty sum Of money to eompen
safe us iur the ,nfsmy sc should incur
tFyvta q Ssw Yaft Wasial
The financial propositions q ih'
message, Which afr the most novel ane
striking part q 1t, are doubtless opcS
10 grave objections; but they shonls
have been met i singled ont To-
notice 81 all ~ argument Or by som'
regular form o. solemn protest hoi =.
ooniaHeiy President johnson propo
sea 10 treat the debg, nod sfter the man
ner a court q law enforcing ih'
s,rics construction u contract bu
after the manner q q court q equi.
aiming to So a Substantial justice Z
Wbassrer lna5 be sbpasAa u De prop
oatsou. j, esrtaiaiy does noi beooEn
The Republiesn party Of sll nlen il HI
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