The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1870-10-20

II. D. HccARfY. Of Leavenworth.
IAN ENTITY BOAST"
Under such significant heading our De-
mocratic cotemporary on Delaware street,
discusses the financial question. We, have
no disposition, when considering topics of
serious public cvnccrn to be captious or face
tious. The main thing to do is to arrive at
the truth involved in the controversy.
While we do not recognise the statement
made in the Commercial, from Republican
journals, as covering, by any means, the
whole subject it starts out to discuss, We,
nevertheless do recognize the truth, 50 Ear as
il gues, contained in the statement, and are
prepared to weigh it against the opposing
argument.
In the first place, the facts are much more
favorabIc..to the Republican Administration,
in the changes that have come, or grown
out of its method or policy Of conducting
the finances Of the country, than those stated
by our contemporary. The currency, Or
money Of this country has appreciated with
in the last two years, measuring by the gold
valuation, about forty per cent, instead of
growing from sevcnty-five cents to eighty
cents ON the dollar. This is a fact that the
Commercial understands, and it also knows
that it misquoteS any statement of any well
edited Republican Journal when it pub
fishes what it does.
Thi. growth in public credit is mainly due
to the iirmness with which the Republican
party opposed the disastrous theories OF the
Democratic politicians those who enjoyed
the largest share of the confidence Of the
members of the organization; those the
Dries which were based upon study Of
human nature, which had their anchorage Of
SUCCESS entirely upon the Democratic esti-
mate of the aggregate quality Of American
intelligence, virtue and honor.
Those astute Democratic delincators of the
working masses who are also reading
masscs-a fact left out of the philosophical
MANIFESTATIONS Of those readers Of mem shot
widely Of the mark when they thought that
the earnest, thoughtful, liberty-loving people
of this country, who had riskcd their lives,
or had given the strong arms of tl,"ee most
dear to them, in the weary, wasting and
bI-.ly struggle prosecuted against the
traitors who assailci the government and IT.
h,c
were they, we're as ready rs were they to
Weld the nation at last to the horrors Of
endless revolution and helplessness by rePu-
diatinc the public debt incurred in the saliva
ton Of its life. The war was made by the
organized Democratic party. That party
was IN possession Of the government
upon its Inauguration. The debt, great and
oppressive as it is, they are solely response
BILE for. They shall not make the results Of
their own misdectls the argument for further
mischief. The Democratic notion about
handling this immense burden, which they
are mainly instrumental in shcuklering upon
the people, would, il carried int" effect
ruin the credit Of the government, at home
and abroad, and plunge us into hopeless con-
fusion.
The debt must I've paid. There is no
method If dodging it any more than there Is
in mans lodging note. The latter may
dodge the payment Ivy beating the holder ON
the execution. That kills the debtor, so far
as his estimate among business, men is con-
cernel. 1t is simple suicide for this great
nation to think of Repatriation. 1t would in
yolvc Us in both internecine strife and justly
subject us to plumber by the great nations
who have trusted us.
The Democratic theory Of substituting
green backs or non-intereaing paying GER
ti6catcs Of Indebtedness, issued directly by
the government as a circulating currency in
the place of the bonds now held by the banks,
and upon which the latter utter, under the
strict supervision and guardianship Of
the government, the money or notes
now circulating As such, if carried into
practice would, in spite of the
oppressive taxation they now talk SO
much about, depress the credit Of American
securities far below what they represented
two years ago. Let any business man think
for moment what the quick and vivid effect
upon the money market would be, if it
should be announced tomorrow that all the
National Banks in the country would be re-
quired, within the ensuing three months to
receive non-interest paying notes from the
Government in the stead of the bonds they
have now deposited with the Treasury Dc
partment-or rather the banking DEPART
ment of that Office. The effort these institr-
tions would make to protect themselves
would involve the Nation in such monied
manic rs it has never witnessed, and
American securities would 60 down to zero
and We fear way below. The economy
the true economy in managing this Govern
ment nov, is in providing oorageously
for the prompt and unequivocal payment Of
its promises to pay. II can only be done by
taxation of some kind or another. The
people of this country must pay their debt
incurred in rescning it from division and
utter destruction. They are base and dam
gerous demagogues who will advise differ
emily. The very talk, seriously INDUCED in
by party likely to dominate in this country,
about lodging in anywise any part of the
national debt which it has bound itself in
honor and terms to pay, would sink Amcri-
can securities out of sight, and impose, as the
least possible evil resulting, ten-Sold pce,rni-
ayy burdens upon the people. The Admin
stration, 30 far as the management
the finances of the country