Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-02-05
snmmoniug the clansme on.

bummoninB the Clansmen'
The New York Tribune now stands on
the extreme ground and sounds the bugle
for the ultra radical policy OF Stevens
1t cracks the whip over those who are
disposed to be conservative among repuk-
licans, and demands as a necessity to
make assurance doubly sure, and take
n bond of fate" Tins it falsi6es in its
predictions and counsels no step back
ward and no concession in the work OF
yillainous wrong to which the radical
party is doubtless irretrievably COM
mitted:
Congress must stand by the loyal ma
jority in the South. Should it fail to do
so. every State but Tennessee south OF
the Potomac and the Ohio, with Mary
land and Delaware on this side, will be
n unit for reconstruction on white basis
which will bring the rebel element into
overwhelming ascendsncy, as we now see
it in Maryland and Kentucky, where no
man stands much chance for office who
had not at least son in the rebel army.
To falter now-to look away from the
South, and seem intent on securing ma
jorities in the North--is to insure the
unchecked ascendancy Of our implacable
foes throughout the South, and thereby
their preponderance in the Union.
Congress cannot recede without ruin.
II must not falter. 1t stands in the
Thermopyle Of the universe, where its
firm ness or weakness determines the fate
of unborn millions. Should it cover be-
fore the cohorts of Caste and Privilege,
ours must become a land of mobiles and
vassals evermore. Let Congress recoil,
and the Yankee school ma ANS will be
driven out of the South within three
years, and the teaching of negroes to
read made legal crime, as it was not
quite seven years ago. Let Congress
recede, and Yankee will be hunted
from the South within three years as
though he were wolf; and the Congress
of that day will say he deserved it for
being Yankee. No, we cannot recede.
We cannot stand still We must march
right on to universal justice and impair
tial freedom.
"Perils from false brethren "-espe-
cially from those who have access to
newspaper columns-must be manfnlly
met, and, If possible, overcome. Half OF
these cavilers would forbear If they only
knew the dangers that must be confront
ed, even though it were impossible to
vanquish them. They are talking in
culpabe ignorance of facts which 1t
is their duty to learn and comprehend.
Some think it smart to be eternally
finding fault with the action of the
party they embarrass by affecting
to support. But the more formidable
share Of the present clamor against Con-
gress emanates from men who are not
appreciated by the Republicans as they
think they should be, and who fancy
themselves able, like Samson, TO overturn
the fabric whereof they have ceased to be
pillars, even in their own conceit. The
essential impulse of the war upon Con-
gress is design TO PROSTATE the Republic
can party and effect new ascendancy
on its ruins.
We trust Congress will proceed
promptly 10 pass Mr.. Stevens bill which
excerpts the reconstruction acts from
review and notification on appeal by the
Supreme Court. 1t does not suffice that
this Court is already precluded from
disturbing them by the express rulings
of John Marshall and Roger B. fancy.
In view of the well known fact that o
majority of the Judges now composing
that Court are intensely hostile to the
policy Of Congress, it would be treason
to humanity to leave that majority
a chance for defying the reason
and conscience of Christendom with
another bred Scott decision. The
Federal Constitution (Art. III, 22) ex-
plicitly empowers Congress to except
classes of cases from the appellate juris-
diction of that Court and here is a
class which plainly ought to be excepted,
unless it is meet and proper that vote
of five hostile politicians against it
should overbesr apd nullify the legisla-
ton which has been carried in Congress
by a vote of three to one. 1t is not
enough that the Court ought not to in
interfere. Let us make assurance
doubly sure, and take bond of Fate"
The BOndhOlders Threatened by their
Friends.
The Mongrels in Congress are threat
ening the bondholders. Sherman's bill
has been literally pruned; many of its
provisions have been stricken out by the
Senate Finance Committee, but action
upon it will be postponed for a short
time. Meanwhile, Senator Henderson's
bill has been taken up in connection
with Sherman's, and discussed by the
Committee. Henderson tells the bond
holders that they should at once convert
their securities into long 81 per cent.
bonds, principal and interest in gold,
rather than run the risk Of being forced
finally TO take currency BY the action Of
the country at large. The penalty is
held M TO the bondholders by their own
marty leaders. Secure yourselves by
exchanging now your five and six per
cents., probably payable in currency,
for the proposed three and half
per cent, payable principal and
interest in gold, at some future
specified time. Strike now, If you would
save your plumber; hesitate, and you are
lost. The annual rate Of increase 10
national wealth will not justify figure
higher than four per cent per year, at
any rate" While We hold to the opinion
that the country viii be ruined in at
tempting TO pay even two per cent per
wear on the great debt, and do not 20
into that discussion now, We merely ssk
the bondholsers how they like the semi
repudiation move made by their own
pariy7 A little figuring will show them
that Offering three snd hall per cent
- f,r rir rar rent Is equal 70 an
ofer .; some kfy-eight dollars on the
one hundred for The bonds. hoE do yo.1
Ike the pill, gsusismeng-Ner forA
Deg Book.