New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-22
ouR .ooUITIY,s DEsTIHY.

better Judgment and honesty Of Preside1
Grant and Secretary Richardson, Il
money sharks and dishonest Speculation
OF New York, who brought sbout sh
panic, would have been relieved Of thei
financial troubles by che government, bu
/ that relief would have been deeply injuriou
| to the country. and the injury would hav
developed itself in . very short time
The object was to have the governmen
bolster up those who were financially AM
| morally in an unsound condition; mel
who had lived too fast, and in most in
| stances had nothing better than the pros
pective profits Of speculation TO depend
on. Fifty millions Of dollars thrown intt
New York by the government would have
postponed the day Of reckoning for sucl
men and eased the panic created by theil
deficiencies, and mostly confined to theil
class Of business But che relief would
only have been temporary 70 them. while
it would have paved the way for bringing
on . financial crisis at no distant day that
would have shaken the entire country.
The object Of the government in estab-
tablishing its present financial policy can
not be mistaken. Il is clearly to give the
people . currency and system Of bank
ing that will subject them as little as pos
sible 10 the dishonest practices Of those
who Try to make It profitable TO be skilled
in the mysteries Of finance; whose con-
slant study is how best to shave honest
industry. Vndes this system il has fur
nished q currency. based upon the wealth
of the country, that is uniformly good in
every State Of the Union; currency that
can not be injured by the bad manage.
ment Of banks OF the dishonesty of bro
kers and money-changers; currency that
is not to be shaken by the financial dis
orders and panics that are frequently ex-
perienced by the more skilled in the art
of raising and spending money that does
not properly belong to them. This is
certainly great achievement But the
government can not be said to have COM
pleted its policy until it has perfected a
banking system that will protect deposit.
OTIS as we'll as note-holdefs.
4 Republican administration is entitled
10 the credit of having originated the
present national currency and system Of
The measures required to car
~ them into effect were adopted BY a
administration, at time when
The government was engaged in putting
down a rebellion that had fos its
object OF the perpetuity and extension Of |
slavery o. the disintegration Of the coun-
~. Millions upon millions Of debt was
incurred by the government in conquer
ng the sebellion, and Notwithstanding
his and the vast expense Of .econstYusine
he States that were in sebellion-all |
thought upon the country by the enemies
4 sepublicanism-the present currency Of
he nation has continued 10 increase in
alue until it is about to reach the stand
I'd Of what the enemies Of republican
call, with = flourish, 'the
urrency Of the world" With this pros.
'ect and the certainty that the people are
low stronger in their Republican faith
han when they elected MI. Lincoln
resident, may we not say with perfect
afety that our country's destiny is indeed
glorious one. Does not the history Of
ur coun:ry and its government up 20 the
resent time successfully yefute The
harges OF corruption that have been
made from time to time by the enemies Of
republican government against Repub-
can administrations! When che history
f the present political epoch in this coun.
y Is written, President Grant will con-
itute the theme Of one Of its brightest
ageA His deeds - . true soldie. and
Use civilian will then be fully spoken Of
nd acknowledged ia becoming manne.
= the truthful historian. while the dis.
,rted and miserable pen pictures that are
rawn by the ephemeral partisan writer's
the present day vii! have persisted and
assed away.
But il should be Unnecessary 70 defend
resident Grant o. the Republican party
,ainst the charges that are constantly
sing made by the enemies Of Republican
The present administration
ceived the strongest Endorsement! the
sople could give but shor. time since;
ID what has since transpired. when it
scomes properly investigated and fairly
by an impartial public judg- ,
ent, will undoubtedly add TO the popu-
rity and strength Of the party in power.
.