The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-09-04

Gen. Grants only motive for infiictino
misery on that portion of his country.
men will cease. An effort to secure a
third term, or eat Iblishsa dictatorship.
cannot reasonably be apprehended; and
consequently, comparison or probabiIi-
ties offers us merely blank olympiad on
one hand, or four years of indetinab'e g
activity on the other.
That wise people. whose usapes We
have generally followed, had occasion to
pass through transitional period some.
what similar to that now affecting the
Southern interests. In their action at
that time We could find safe preoedents
for a course of policy which would
promptly relnstate Southern prosperity;
but II there be one among the master
spirits OF the age who, even if inclined,
could not adopt that policy. it is Gree
ley. The SUCCESS Of Gen. Grant might
involve no important consequences, but
that of Greeley would conseorate tho
practices referred to; which, in my OPT
nion, are absolutely incompatible with
the permnnence of republican institn-
tions.
In saying this. it is not intended sim.
ply to pronounce for anti protectionist
IDEAS That question is LETT untouched.
Ii support OF home industry against
foreign competition is regarded as sound
policy, 1t can be effected, as far ae need
ful, by much simpler, less expensive
and lar less demoralizing process, than
our overgrown customs establishment
The true policy is national regeneration.
IL is lar more comprehensive than mere
Tree trade. Its aim is to break the
sceptre OF the trading politician and
ta hn
the governmental Intervention now prac-
ticed in carrying on the affairs of so.
olety could be easily dispensed with.
The existing Indebtedness should indeed
be held sacred, and to the last cent be
faithfully redeemed; but the power of
borrowing money on public credit, either
by paper issues or otherwise, should be
absolutely annulled. Neither the Fede-
raj Government, OF any other. down to
the smallest civil division of q State.
should posseso it. tits inconsistent with
tho prosperity of free republican insti-
tutions. It is the very life blood of aris
tocratio rule, for it letters labor as the
bond slave of capital. In modern times it
furnishes limitation indispensable to
war, Without that most shocking of all
national crimes and calamities, it would
be impossible.
Such comprehensive advances in civil
lizAtion as here suggested may be, as
yet, lmpracticable in the old world. II
SO. the fact only proves that ours is the
high and holy mission of first making
them. Separated by wide ocean from
any powerful nation, mighty in numbers
and the intelligence of our people, and
through their deep and abiding interest
In their ccuntry's welfare, no external
enemy dare assail us, Indeed, it is
manifest to unperverted reason that the
adoption Of efficient ourbs upon official
power ia alone needed to render this
great continent the abode of peace and
OF human happiness, on a ecale of sur
passing magnitude.
Even if defensive wars be necessary.
tho evil power of borrowing money
should not be conceded on that account.
1t must be admitted that they cannot be
carried on without vast OUTLAWS; but
money ls not more necessary than men.
As the generation which wages war must
furnish the warrior. why can it not also
furnish the money to feed, clothe and
ar; hlcc? It is compelled to furnish ell
the labor connected with his mainte-
nance and his belligerent operations.
Posterlty cannot fight our battles; nor is
there any necessity that posterity should
pay the cost of them. Our own young
men must do the fighting. 1t is equally
in the power of our old men to do the
paying. Pay as You go" is a maxim
not less sound in political economy
than in private affairs. If adopted,
peculation must cease to pervert the Go.
vernment, and war could no longer lend
legal sanctions to cruelty and oppression.
And if, as some contend, war is the nor
NAL condition Of mankind, posterity will
have it's own wars to sustain; and it is,
therefore, unreasonable to burden poste-
rity with debt for the cost of ours
Deeply interested in suppressing these
ideas, the rulers Of the people will of
course treat them with derision. Still,
it must suffice for the present thus to
submit them nakedly, on their own
merits, and without detailed vindication,
although their principle is already ac-
cepted in substance by some of the
Western States, in their recent constitu-
tions. Their advocacy must, in the
main, be deferred until the facts and
foibles of tho pending canvass shall
have ceased to engross public attention.
A few brief suggestions will, neverthe.
less, be offered. Power to borrow money
is mischievous just in proportion as the