The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1869-10-01
Rennafafinn.E q

In the recent speech of the Hon. Chss.
Sumner, he indulges in an argument in re-
lation to our domestic politics, which all
should read He sets forward the import
ance of the present State elections as bear
ing upon our national relations and as likely
to influence them for veal or woe As we
are not yet done with the question arising
from the war, it is important that the ad-
ministratOn should be supported in its pol,
icy until all men are made sure in their
rights, so that we may have some security
for tho future. 1i
He attacks the idea of Reputation with
which the Democracy are seeking to imbue
the people, and utters such words ofwisdom
in regard to its consequences, that the people
should read and ponder. On this subject
he says:
The word ''repudiatiou, in its present
sense, is not old. 1t first appears in Missis-
sippi, a Democratic State. Ii the thing were
known before, never before did ii assume
the same hardibOod of name II was IN I84I
that Mississippi Governor, in message to
itiie LEGISLATURE, used this word With regard
to certain State bonds, and thus begun the
policy BY which Mississippi was first dis
hOhOTed and then kept poor; for capital was
naturally shy Of such a State. Constantly,
from that TIM, Mississippi had the 'bad
eminence" of this transaction; nor is the
/ State more known as the home of Jefferson
| Davis than as the home OfrepudiatiOn. I'm
/ happily the nation suffered also; even now,
as understand it, it is argued 10 Europe, to
our discredit, that because Mississippi re-
1 pudiated, the NATION may repudiate also If
| refer to this example, it is because would
I illustrate the mischief Of the Democratic pol-
icy, and summon Mississippi to tardy
justice A Tegenerste State cannot afford to
bear the burden of repudiation; nor can the
nation and the sisterhood Of States forget
misconduct so Injurious to all
have pleasure on this point in referring to
an early effort in the NoTth american Revie,o
by sn able lawyer, for time an ornament Of
the Supreme Court of the United States,
Hon. B. r. Curtis, who argues most per-
suasivly that, where state repudiates its
obligations 10 the detriment Of foreigners,
there is a remedy through the National
Government. But the article contains
warning applicable to the present hours
which quote:
"The conduct of few States has not only
| destroyed their own credit and left their
sister States very little to boast of, but has
so materially Effected the credit of the whole
| Union, that twas found impossible to negO-
tate in Europe any part of the loan author
lied by Congress in 1912. 1t was ordered
| IN terms most advantageous to the creditor;
/ terms which in former times would have
been eagerly accepted; and after going a
I 49, L IL r
Europe, the agent gave up the attempt to
obtain the money in despair. ."-Americdn
4 ReUieW for .Jd7ludry, 1874, Vol. So, D. $50.
As the fallen dFunkard illustrates the evils
of temperance, so does Mississippi illustrate
! the evils of reputation. Look at her, But
there are men who would degrade our Re-
public to this wretched condition. Forget
/ ting what is due TO our good name as a ma
ton at home and abroad forgetting that
the public interests are bound up with the
public faith, involving sll economies, nation
! al aud indiYidpal- forgetting that CUT tran
scendent position has corresponding obliga-
/ tiOns, and that as nobility once Obliged to
/ great duty nObleSSs Oblige-so does Republi-
canism. Now there are men, who, forget
/ ting all these things, would carry our Re
| public into this terrible gulf so full of shame
and sacrifice. They begin by subtle deVi-
ces; but already the mutterings of open re-
pudiatiOn are heard. denounce them all,
whether device or muttering, and denounce
that political party which lends itself to the
outrage"
Mr.. Sumner goes on to show that the cry
of Payment in Greenbacks" and Taxation
of Bonds, are very costly cries to the coun-
try, England and France can fund their
debts in consOls at three and four per cent.
Our debt bears five and six per cent, in gold.
The resources of those nations are not SO
great as ours, Why the difference in our
credit2 Simple because they have and allow
no rascalIy party to imperil their credit by