New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-02-07
that these facts will not tell in Presidential


contest
In a angle respect, the hopes OF the Ameri-
can People have not yet been realized. That
respect is the funding of the bulk of the Ma
tional Debt at lower rate of interest. Doubt
less. the great European War, with the clouds
ON the Eastern horizon, have impeded this
nucb-desired contamination. Still, govern
mept that is not borrowing, but regularly
and vigorously paying, and which borrows
only to pay outstanding liabilities, ought not
TO be paying six per cent. on loans that it has
right forthwith to redeem. If orr Five
Tyenties could be funded at an average of
At per cent, the saving would be hardly less
than Twenty Millions per annum. Even at
five per cent, tho saving must be nearly fit-
teen Millions We ought surely to be able to
borrow at to per cent the money where
with to cancel the Five-Twenties, in view OF
the weekly reduction of the volume OF our
entire Debt, and we trust this year Will see
the task accomplished. That achievement
would powerfully conduce to the denomination
Of Gen. Grant.
We state the case as we understand 1t, ana
with rigid impartiality. We like Gen. Grant
but we care far more for Republican ascen-
dency than for any mans personal fortunes
1t is in our view Of great Importance that the
Opposition shall be kept out of power, while II is
of comparatively small moment that or
should tenant the White House. For Demo-
cratic National triumph means a restoration to
power of those who deserted their seats in Con-
gress and their places under the last Democranc
President to plunge the country into the ked
Sea of Secession and Rebellion. Though you
paint an inch thick, to this complexion you
must come at last. The brain, the heart, the
soul of the present Democratic party Is the
Rebel element at the South, with its Northern
allies and sympathizers. 1t is Rebel at the core
to-day, hardly able to reconcile the defeats OF
Lee, Johnston, Bragg, Hood and Price, ana
the consequent downfall of its beloved Con
federacy, with its traditional faith in Divine
Providence. Ii would hail the election OF
Democratic President i'll 1872 az virtual re-
versal of the Appomattox surrender. 1t would
come into power with the hate, the chagrIn,
the wrath, the modification, of ten bitter
years, to impel and guide its steps. 1t would
devote itself to taking off or reducing tax
after tax until the Treasury was deprived
of the means of paying interest on the
National Debt, and would hail the tidlngs
of National bankruptcy with unalloyed glad
ness and unconcealed exultation. Whatever
chastisemont may be deserved by our National
sins, we must hope that this disgrace and hui
initiation will be spared us.
1t behoOves Republicans in our view, to stand
wholly aloof from personal committals and en-
tangIements until the time for decision and
action with regard to the next Presidential
canvass shall have arrived and that is nearly
or quite year hence. If-as now seems
highly probablc-Gen. Grant shall then appear
to be our strongest man, we must all go III f0I
him and make his nomination unanimous. II
any other Republican shall at that time be
stronger, we must rally around that other
nominate and elect him. Meantime, let us
attend to more pressing requirements, and let
President making bide its time.