The Portland daily press., 1869-09-24

rome, At once the entire DonQeO Cepb WouiQ
be reduced to greenbacks. Inc greenback
down. On the purchase OF ten millions the
nation would seem to save two millions; but
the bond holders would lose the difference be-
tween present rates and par, being 20 per cent.
three hundred and twenty millions. All this
at once. But who can measure the conse-
auences? Bonds would be thrown upon the
market. From all points of the compass, at
home and abroad, they would come Business
would be disorganized. The fountains of the
great deep would be broken up and the deluge
would be upon us.
NATIONAL BANKS.
Among the practical agencies to which the
country owes much already, are the national
banks. They cannot fail to be taken into ac-
count in all financial discussions. AS they
have done good where they are now estaDllSh-
ed, I would gladly see them extended, espec-
tally at the South and West, where they are
much needed and where abundant crops al
ready supply the capital. But this can be done
only by removing the currency Limitation in
the existing Bank Act. Here l should like
the condition that for every new bank note is
sued greenback should be Cancelled, thus sub
this way our greenbacks would be reduced in
volume, while the demand for currency would
be supplied by the banks. This would be an
important stage toward specie payments, which
L am unwilling to see postponed, while the ma
tional banks in the South and West, founded
on the bonds of the United States, would be a
new security for the national credit.
PUBLIC FAITH.
Thus, fellow citizens, at every turn are we
brought back to one single point, the Public
Faith, which cannot be dishonored without in
finite calamity. The child is told not to tell q
lie; but this Injunction is the same for the full
grown man and for the nation also. We can
not tell a lie to the national freedom or to the
national creditor; we cannot tell lie to any
body. That word of shame cannot lie ours
But falsehood to the national freedom and the
national creditor is national lie. Breaking
promise with either, you are dishonored, and
liar must be stamped upon the national fore
head. Beyond the ignominy which all of US
must bear will be the influence ofsuch trans
erosion in discredting Republican govern
ment, and the very idea OF Republic. For
veal or woe, we are an example. Mankind is
now looking to u.s. and just in proportion to
the eminence we have reached is the eminence
of our example. Already we have shown how
Republic can conquer in arms, offering mil
lions of citizens and untold treasure at CALL
1t remains for us to show how Republic can
conquer in field more glorious than battle,
where all these millions of citizens and all this
untold treasure uphold the public faith. Such
an example will elevate Republican govern
ment, and make the idea of Republic more
than ever great and splendid. Helping here,
you help not only your own country, but you
help humanity also; you help liberal institu-
lions in all lands; you help the down-trodden
everywhere, and all who struggle against the
wrong and tyranny of earth.
The brilliant Frenchman, MOntesquieu, in
that remarkable work which occupied SO much
attention during the last century, the Spirit Of
Laos, pronounces honor the animating senti-
ment of royalty; but virtue the animating sem
tlment of Republic. 1t is for us to show that
he was right; nor can we depart from this rule
of virtue without disturbing the order of the
universe. Faith is nothing less than O part OF
that sublime harmony by which the planets
wheel surely in their appointed orbits, and ma
tons are summoned to justice. Nothing too
protection. 1t is an essential principle in that
divine Cosmos, without which all is confusion.
All depends upon faith. Why do you build
Because you have faith ia those laws by which
you are secured in person and property: Why
do you plant? Why do you SOW? Because
you have faith in the returning seasons, faith
in the generous skies, faith in the sun. But
faith in this Republic must be fixed as the sun,
which Eliminates ALL I cannot be content
with less. Full we'll see that every departure
from this great law is only to our ruin, and
from the hight we have reached, the fall will
be like that of the ancient God from the battle.
ments of Heaven:
-"From morn
10 noon he fell; from noon to dewy eve
A summers day, and with the setting sun
Dropt from the zenith, like falling starr
It only remains that we should do all that
we can to preserve this Public Faith. For my
self, see nothing more practical at this mo-
ment than, first, at all points to oppose the
Democracy, and, secondly, to insist that yet a
while longer ex-rebels shall be excused from
co-partnership in government. I will not be
outdOne by anybody in clemency; nor at the
proper time will be behind any one in open
ing all doors of Office and trust. But this time
has not yet come. There must be security for
the future, unquestionable and ample, before
I am ready, and this would require, not only
for the sake of the national freedom and the
national creditor, but for the sake of the ex-
rebel hinself whose highest interest is In that
peace where all controversy shall be extin.
guished forever. The ancient historian declares
of men, took nothing from the vanquished but
the license to do wrong-naqores nostri, reIigi-
ossinat morales, nitil victis eripiebant prgte1
lust. Permit me to say that know no better
example for our present guidance. Who can
complain if men recently arrayed against their
cured in their rights?
Even in the uncertainty of the future it is
easy to see that the national freedman and the
national creditor have a common fortune. In
the terrible furnace of war they were Joined to-
gether, nor can they be separated so long as
the rights of the two are in question. There
fore, could my voice reach them, would say
Freedman, stand by the creditor; creditor
stand by the freedman" And to the people
would say, Stand by BOTH "a