The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1870-01-05

misfortunes and sufferings. The
money market is pressed with an
unusual stringency, and, as a nat
ural consequence, business men
have been disappointed in not see
ing a continuance of that activity
with which the fall season opened.
The people want to know the rea-
son of all this.
The cause of the paralysis with
which the trade of the country has
been stricken lies in the inability of
the Radical Congress to cope with
the great national debt, that foul
demon evoked by the Radical par
ty while engaged in destroying the
resources of the wealthiest section
of a once prosperous country. Be-
fore the session commenced Mr..
Boutwell,, while knee deep in those
disgraceful Wall street speculations
announced to an anxious country
that he was about to resume specie
payments. Now, the absurdity of
such a proceeding at this particular
time was apparent to the merest
financial charlatan in the land. A
sudden contraction of such an in
fiated volume of currency has new
er been made without precipitating
a financial crisis upon the county.
The financial history of France and
England after the French revolu-
ton had, we thought, reduced this
simple proposition almost to an
axiom. Mr.. BoutwelI's announce
ment, and it alone, was the cause
of the sudden uneasiness in finan.
cial circles, and Of the unsteadiness
of the money market. Gen. Grant
saw the danger, and endeavored to
counterfeit it by his message, but
he spoke too late to do any good.
A Radical Congress added still fur
ther to the want of confidence by
passing unanimous resolution in
favor of redeeming the public debt
in gold, thus cutting off all hope of
the material reduction of the debt
by the means suggested by the De-
mocracy of the North-W est. So,
what with the acts of Mr.. Grant, Mr.
Boutwell, and the Congress, the
country seems to have embarked
upon financial sea without a rud-
der Or a helmsman.
If you go to Washington and ask
the Radicals what they intend to
do to relieve the financial embar-
easements Of the country, you will
receive as many different answers
as there are Radicals in that cor.
rupt city. Each quack has his own
nostrum, and no two agree upon
the medicine which is to dose the
"Sick Man" of the Treasury to
death. The reason of all this lies
partly in the inability of the Radi.
calls to suggest any sensible plan,
and partly in the fact that the in
tegrity and preservation of the
Radical party occupy more of their
thoughts than the welfare and
prosperity of the country. If they
could ignore the whole question
altogether and throw it into the
next administration so as not to
endanger their Presidential pros
poets in 1872 they would be per-
fectly happy. But the question is
getting SO stubborn that it will not
be ignored any longer. The un-
welcome apparition evil not
down " at their bidding. And in
addition to the urgency of the
question itself, the Democrats are
forcing its consideration on the
The Radicals cannot
shirk it; they must do something,
and, our word for it, the moment
they touch it. the party will go to
pieces.
It is an absurdity in political
economy, that a rich and prosper
GUS country. full of everything to
make its people happy, should per-
nit those people to suffer for want
Of a proper circulating medium,
which is only the representative of
value, and not the value itself. If
,ne currency will not do, then there
ought to be financial skill enough
10 invent another. And if all ex-
,ctlients fail. in country with