Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1869-04-16
The American Credit.

At last, and after trying vicissitudes
that would have discouraged any other
people on the face of the globe; we are
able to 90 before the world with clear
conscience and firm conviction in the
truth when we say-"We challenge an in
vestigation of our national credit and of
our honest Intentions" AS though it
were not enough to be loaded down with
debt, contracted in noble fight for the
salvation of the nation and the life of free
government, the motives of the American
public have been constantly maligned.
AT home there have been dissenters and
mischief makers, who, for personal and
party ends, have advanced the doctrine of
Reputation. Abroad there have been pub
lie enemies, chief among which in influence
and malignlty has been the Times of Lon
don. that have misconStrued every inan-
cial movement of the American govern
ment, enlarged upon our mistakes and fol.
lies, and impugned the motives of those
who have acted in good faith. The an
swer to these and all others who have
doubted the intention of the government
to honor it's paper, has came at last in
words that should be written in letters of
gold, and placed in the archives of the ma
ton.
sBs it enacted, ETC., That in order to remove any
doubt as to the purpose of the government to dis
charge all just obligations to the public creditors, and
to settle conflicting questions and interpretations OF
the law, by virtue of which obligations have been
contracted it is hereby provided and declared, that
the faith of theUnited States is soemny pledged to
the payment in coin its equivalent of all the obi
cations of the United States not bearing interest
known United States notes. and of all the interest
bearing obligations of the United States, except in
cases where he law authorizing the issue of any such
obligation has expressly proved that the same may be
paid lawful money of other currency than gold or
silver but of said Understanding obligation
not already due shall be redeemed paid before ma
tury unless at such time as the notes shall be con-
vertbe into coin at the option of the holder; or un
less at such time the bonds OF the United States bear
ing lower rate of interest than the bonds to be
deemed be sold at par, in coin, and the United
States also soemnly pledges its faith to make provis
ion, at the earliest practicable PERIOD for the redemp
tion of the United States notes in coin."
Such are the plain and unmistakable
terms in which the public credit of Ameri-
can people is confirmed; and no act OF
Congress has ever received heartier or
more general response from the people
whom it represents. So much for the in
tention. 1t cannot be doubted longer after
so terse and explicit an exposition. Can
the ability to do what has been so nobly
expressed be questioned with any more
reason? The National Strong Box" as
Gen. Grant has 1t, will, of itself furnish
the means. The natural and easy growth
of our country will solve the problem
The agricultural resources of the land viii
be found sufficient for the purpose. There
are a dozen agencies, which, single-handed
and alone, can redeem the pledge which
the government has now made to the
world. Will any reasonable man at home
or abroad, doubt that all the resources
united in common cause can lead to the
desired end?
1t is no longer question now as to how
the government debt shall be paid. 1t
merely is, when shall it be paid? This
will depend upon the economy that is
shown in the administration of public af-
fairs. 1t may be paid when the obligation
becomes due in its various denominations,
by which times the money should be on
hand. Or it.may be paid when greenbacks
shall be equal in value to the gold which
they represent. This time should not be
far distant. With restored confidence in
the honor of the nation, the American pa
per currency should be worth ,,as much as
any other currency. There is now no
reason why national note should not be
worth as much as a bill of the bank of
England. 1t will not require much time.
with economy in the government affairs.
and thrift in private affairs, to bring about
this equalization. What then will become
of the croakers ?-Chicogo Courier.