The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1872-07-20
The National Finances Under Democrat
90 ic Rule.

We have already called attention to Mr..
Sumner's wise caution in refusing to join
hands with the party that cannot be trusted
to do justice to the negro. There still re-
main numerous classes of reformers who
must also conclude that they cannot trust
their cause with the party whose history for
the last quarter of century is history of
opposition to all reform.
For instance, how can the man who is So
licitous about the management of our nation
al finances honestly believe that the Democ-
racy will improve the present system? Look
at the facts; the debt is reduced at the rate
of hundred millions year, taxation is re-
duced at the same rate, the ordinary ex-
penses of the government are less per capita
and the rate of interest is three per cent. less
than under Buchanan, gold has relatively
small premium and public confidence in the
stability and honesty of the government has
so increased that our bonds sell at premium
in gold instead of at twelve per cent discount.
In this now vital point in the administration
Of our government Grant and his subordi-
mates have had success that is almost mirac-
ulous. sgtfL % -s.ials - .E-..I .... .luO
Will it be safe to entrust affairs of such
delicacy and immense difficulty, affairs that
are now going on better than the most san
guine dared to hope at the close of the war,
to new managers whose moral heresies have
been fifty supplemented by the worst finan-
cial heresies ever promulgated. Is it to be
expected that sounder financial theories will
prevailP Why, the Democracy have fought
through campaign after campaign on the
ground that there is giant wrong in fulfill
ing our contract with the national creditor
and that the five-twenty bonds should be
paid in greenbacks! Is that the reform which
men who have been Republicans desire? Do
they want Pendletonism made national?
The Democracy of Maine and of almost ev-
cry other State in the Union have repeatedly
declared that the government bonds should
be taxed notwithstanding the solemn guaran-
ty of the United States given to the holders
ofits securities. They have appealed again and
again to the voters of the country to con-
summate this swindle. And the test votes in
Congress on this question up to the present
day do not show that any considerable num-
Der of representative Democrats are yet
willing to allow the national creditor
to be paid in accordance with the
promise made to him by his country, without
taxation or rebate of any kind whatever.
Are any Greeley Republicans ready for such
bandit financiering as that? Or is it sup
posed that three millions of Democrats will
quietly ''stife their prejudices," forget their
mania for greenbacks, abandon their theory
that the bonds should be taxed, forbear to
clamor for the reputation of the national
debt or the assumption of that of the Con-
federacy, or the payment of an indem-
nifty to the planters for the loss of
their slaves and adopt in their stead
the financial theories held at Chappa-
qua? This would surely be miraculous
transaction, but we have shown heretofore,
in describing Mr.. Greeley's financial crotchets
that his heresies, though unquestionably less
censurable in principle than those Of his
Democratic supporters, would be hardly less
fatal in practice. 1t would matter little.
therefore, whether the country went to finan-
cial ruin after the method prescribed by Gree
ley or that favored by Pendleton. Either way,
it is morally certain that our financial condi-
ton would become far less fattering than at
present.
But perhaps it is expected that an increase
honesty among officials and strict economy
in the expenditure of money, Will make
amends for all theoretical errors. But this
cannot be. Men do not gather figs of thistles,
and it is not rational to expect harvest of
practical honesty from sowing Of rank theo-
retical dishonesty. Nothing can be more
preposterous, either than to anticipate an i'm |
provementin the personnel of the government
under Greeley. That gentleman himself has |
recommended more bad men for office than any
otherperson in the country. His chief advisers,
after attaining the Presidency, would be that
notorious Fenton, whose craftsmanship lies
solely in the direction of wire-pulling ar DO
litical trickery, and the Blairs whose genius
for intrigue reminds one of Talleyrand, the
ex-Rebels of the South, the Rebel Democracy
OF the North, and patriots like the Greeley
Republicans of Maine, who support the edi-
tor of the Tribune because they expect him
to give them the offices which Grant has re- |
fused. Or perhaps some assistance in re- |
forming the financial administration nv be |
expected from those most expert of all finan- |
ciers, the members of the Tammany ring. |
who gave their best endeavors to secure Mr., |
Greeley's nomination, who hailed his success |
with the loudest acclamations and who are |
now his most enthusiastic supporters. But
after review of the whole case most men |
will probably conclude that it is safer to trust
Grant and his more prudent, if less brilliant |
financial advisers, than to install Greeley, Fen
ton and Tammany in the Treasury. ta
Are there ANY Takers?