The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-09-14
QUESTIONS OF THE HOUR.

lurrent of popular feeling when, in the Ohio
lanyass he laws stress upon the questions of
Axation and currency as those which call
FOR immediate and intelligent attention.
The influence of these questions upon the
feelings and purposes of the people is not
confined to Ohio. They furnish the practical
issues for the fall campaign. The fifteenth
amendment is the last remaining feature OF
fhe reconstruction policy and the Importance
of its ratification cannot be easily over-estl-
mated Until the principle it atiirms be in
corporated into the Constitution the funda-
mental feature of reconstruction Will wear a
sectional aspect, and its duration will be a
matter of doubt. The adoption of the amend
ment is. therefore, desirable as means of
nationalizing what the country, in its treat
ment of the South, has pronounced just, and
as a final settlement of an irritating contro-
yersy. With this exception, there is nothing
which in importance or interest, approaches
She financial question.
The bunder of the main body of the
Democracy in identifying themselves with
the programme of Mr.. Pendleton in regard to
the currency and the debt, interferes with the
practical discussion of those topics. Instead
of entering upon them in their practical
relations, and with direct reference to
measures of which improved credit is an
essential element, the parties to the contest
are engaged in debating the relative advan-
3he war the same class of Democrats ex-
pended in opposition to the cause of the
Government the strength which, rightly used,
would have rendered its administration more
efficient SO now the relief to the tax
payer which would follow q successful
management of the debt is delayed by an as
sault upon the public credit The reform
most obviously needed is for the time him
,lered, if not made impossible. 1t would be
idle to propose to the public creditor the ac-
reptance of bond bearing lower rate of in
ferest in exchange for that which he now
holds, SO long as a determination to disregard
5he original contract is apparent By wan
fonly reviving Mr.. Pendleton's greenbaok
theory, then, the Democrats do what they can
to narrow the financial discussion within un-
profitable limits, and to prevent the operation
of bond-conversion, which would SO greatly
reduce the taxpayers load.
The Democratic position with reference to
the currency is similarly mischievous We
have no confidence in plans for precipitating
resumption of specie payments by legisla-
tion. That must be the result of gradual
change, involving time and the steady, whole
some growth of industry and commerce. But
the appreciation of the currency may be pro-
NOTED by judicious measures, of which fixed
ness is an ingredients while for resumption
other preparations are expedient, looking to
the specie strength of the Treasury and the
national banks. The Democratic programme
makes fxedness in the amount of the currency
nnattainable and demands the abolition of
the banks rather than the acquisition by them
of a specie reserve The programme, in fact
threatens initiation and business disorganiza-
tion, under circumstances which indicate the
repression of disturbing influences as one of
the paramount requirements of the country.
Upon the subj iects of the debt and the cur
rency, then, Republicans appeal to the people
IL kl,a.,,
may fairly claim to be fighting the battle of
common honesty. They may declare with
truth that if the saving attendant upon con-
version of the debt, and the benefit to trade
and industry consequent upon more healthy
condition of the currency, are not at once
feasible, it is because the influence of the
Democratic party is exerted in the direction
of initiation and reputation.
If, however, Republicans are to profit by
this superiority of position to the fullest ex-
tent, we apprehend that they must deal with
the general question of taxation more frankly
than Senator Sherman has yet done in his re-
ported speeches. The Republican record even
upon this question is not weak one. 1t tells
of greatly reduced taxes the moment that
peace and retrenchment made reduction pos
sible. 1t tells, moreover, of a systematic
cutting down of expenditures under Repub-
lican administration, which will render further
reduction easy. The Ohio Senator is not too
sanguine, we trust, when he expresses the
belief that within two years the taxes on
whisky, tobacco, and incomes will yield q
sum adequate to the ordinary wants of the
Government. The desirableness of thus re-
stricting the sources of internal revenue may
be open to doubt. And the impolicy of up
holding the income tax just as it is, instead Of
urging notifications that would break the
force of objections now pressed against the
tax itself, is apparent. Still, the possibility
to which Mr.. Sherman points is encouraging
It shows that he at least, among the Republi
can leaders, understands the popular demand
for economy, and for lessened taxation as it,
immediate result.
This demand supplies to the tariff not les
than to the system of internal taxation, AM
Mr.. Sherman errs when he runs over tn
schedule of customs duties, and treats it a
something to which no serious objection cal
be taken. On this subject he underrate
popular intelligence as well as popular feel
ing. When, for example, after remarkin
that ''the duties complained of are chiefly tn
duties levied for revenue only, and not in an
way for protection, he adduces the duties o.
sugar tea, and coffee as foremost of thos
that are objected to, and then goes on to COZ
tend that a mass of other duties fall on art
cles which are consumed by the rich, he mi
conceives the whole meaning of contemporai
discussion. The complaint against the tari
is that it is needlessly cumbrous and compl
Gated, that it taxes raw materials of mani
facture and therefore oppresses domestic il
dustry and that some of its most objection
BILE duties are those which are inconsiderab
in respect of the revenue they yield. III
4 ,,t;ac ON iron GOAL timber and salt prOduc