Juniata sentinel. [volume] (Mifflintown, Pa.) 1846-1873, 1872-08-14
MISCELLANEOUS.
freeley and the Money Market.

Journal, L. Opta'0H N0f0a"t idteiy InaOe
an earnest appeal to all political parties
il favor of the suppression of petty pas
sicns and mutual denunciatioas in the in
te-est of thr financial situation AS an
kre aG.rnt in behalf of the patriotic for
b,;.rsace asked for, the writer re;pai KEEL
tat "if in consequence of the good order
If n. country the French Treasury could
horrcw from capitalists the eum needed
a, only one half per cent. less, the adj
7an.sge to France might be reckoned in
money at from Two to three hundred mil
lions. On he other band, one sees how
costly 10 The country r,;ght at this mo-
T7ent be a blundering economical law,
he speech Of an ambitious fool, or the
pamphlet Of an agitator." Though ad
dressed TO Frenchmen the appeal is not
iess worthy of the attention of Ameri
cans, as it is founded upon that extreme
seDsi;iveness which is the most obvious
ard striking characteristic of the money
market everywhere, and in which the
poople Of the United States are almost
aa deeply interested as the people of
France. Never before in the history of
The country were we SO dependent. as at
present upon the confidence of Europe
In the credit which we have established
iheIe. It is no exaggera,ion to say that
our financial prosperity consists as a
panic hich should shake the trust there
placed in our Willingness to redeem our
Fecuniary obligations, would inevitably
result in general disaster. OF course any,
even thc least. lessening of our credit
wonld be instantaneously felt in financial
perturbation more or less injurious TO
american business relations. Where
Frencbman cited above shows, even the
smallest and most insignificant percent
age at once runs up to amounts which
startle the Imagination by their mere
name
Americans. it would seem, are apt to
forget or overlook a truth which thew
hould keep steadfasily in mind. The
truth is that American credit abroad is
plant Of recent growth. Under Demo-
cratic rule it was a sickly shrub, and so
necessarily kicked and trampled upon by
those whose duty it was to care for it's
healthy growth, that there was no pros
pect or likelihood of its ever becoming a
tree able to resist the storms which from
time to time assail its kind ROYAL re
tainers and aristocrats OF every class
found exquisite pleasure in its ftebleness
and in helping to destroy the plant which
they said and believed could not grow on
Democratic soil. Happily, under Repub-
lican auspices, cherished 10y Republican
care, it has sprung up and spread abroad
until it is already tree of renown. Bnt
it is still tender and easily hurt. Like
The marvellous tree described in one"of
lie ol.est of books, with its twigs
planted ia cities of merchants aud It's
seed planted in good soil by great
waters" i, is still liable "to wither in all
the leaves of its spring, even without
great power Or many people to pluck i, up
by the roots.
No; neither great power nor many
people are needed to accomplish the work
of destruction. Let the insignificant
minority of repudiators gain control of
the government by the aid, CT indiiier-
cnce Of unfaithful Republicans, and our
promising tree of na'ional credit, as if
touched by an east wind. shall" like
the tree referred to, "wither in the fur
rows where it grew" The mere fact
that majority of the people of the
United States had agreed to place in
their highest office a man of Nr. Gree
ley's reputation and character would sink
the nation in the estimation of all intelli
gent foreigners, and would prepare them
for almost any national eccentricity or
alteration that might follow Thus
placed on the lookout for alarming prog
ncstications, the rulers of the money j
market would not have long to wait for
them. The mere suggestion of "a blum
Gering economical law" in Presidents !
message. ''the speech of an ambitious
fosl, the pamphlet of an agitator of re-
pudiation in one of its several disguises,
would, in connection with the return of
the Democratic party to power, suffice to
produce the most injurious effects upon
our financial condition.
That such fears arc not utterly ground |
less is sufficiently attested by the fact
that they are almost universally enter
tanned by the moneyed men of the coun-
try-a class as little subject to illusions
as any people in the world If, however.
there were none of the class free from
these apprehensions, such unanimity
would be miraculous; there were bankers
in Paris who wished to see the Commune
established, and there are said to be A.
L. Stewards who are content to see Gree /.
ley President. An explanation may be
easily found in those oompensa.ions
which reconcile individuals to changes