New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-08
REPUBLICAN PROMISE.

The Nation is paper published ID New
York, weekly, with some ability. We do
not know to what party it belongs If
there is bondholders' party, however, in
the country it might be suspected of be-
longing to that party, from the fact that
it is inclined to find fault with such Re-
publicans as Mr.. Sherman of Ohio, Mr..
Norton, of Indiana, and Mr.. Butler, of
Massachusetts, for having, in 1867,
''gravely recommended the public cred
itor to submit to a reduction on the inter
est on his bonds, lest a worse thing,
namely, the total loss of both principal
and interest, should befall him" How
ever much wisdom might have been con-
tanned in the advice to the bondholder to
modify his demand for the pound of
flesh" the Nation is inclined to think the
country would have been plunged into
ruin on the question of finance and taxa
ton if the teachings of the above named
ried out The Nation, tired of hearing
what the Republican party has done, and
what the Democratic party will do when
it once more obtains the control of the
federal government, is most anxious to
have the Republicans pass beyond the
mere recital of the claims of the party
on popular gratitude into the wider
and less inviting region of promise" If
the Republican party has given goodly
promises in the past and maintained
the just expectations of the people, it is
entitled to and will receive new lease of
power by their choice. Republican prom
Use has not been delusive hope. 1t has
been decisive indication of good to the
country, and in this there is great prom
Use for the future. Under Republican
rule peace has been restored to the coun-
try and gradual return to prosperity is
being manifested among the people. The
expenses of the country that were rem
dered large in consequence of the rebel
lion, are being gradually diminished, and
the public debt yearly reduced. This
has tendency to restore the public credit
which is plainly proven by the raised
value of the national currency, in the
form of promises to pay" from sixty
nine to ninety-one cents on the dollar.
AS the public expenses are reduced and
the debt created by war is extinguished,
taxation must continue to become less
onerous. The heavy taxes that have been
imposed on the people were some of the
results of the war that the Democratic
party forced upon the country, and it will
take time to reduce them to the require
ments of the government administered on
an honest and economical scale.
The continuance of Republican rule,
as it has manifested itself during the
present administration, is indicative of
much promise in the future, if there was
nothing else to base a hope on. But the
Republican party is not only economical
and just. 1t is progressive in the true
science of government. 1t will go into
all necessary reforms that are called for
by the people. The following language
of Senator Sherman upon the tariff ques-
ton is likely to prove acceptable to the
Republican party:
am for the reduction of taxes by the
repeal or modification of all that are ex-
cessive, but am not in favor of following
any wild theories of political economists to
the destruction of any home industry, or
to the diminution of our revenue, so as to
endanger deficiency
1t will most likely not be the policy of
the Republican party to continue at high
rate the taxes on articles of prime neces-
sity in common use among the people.
There has been a good deal said about
revenue reform, and an attempt has been
made to divide the Republicans upon this
very question, but it is not likely to sue
coed. A reform in the civil service is also
called for, but as this is question of at
least doubtful character, and one that has
been sprung upon the country since the
Republican party has been invested with