New Orleans Republican., 1873-08-07
EATEN UP BY MORTGAGES.


The entailed title to landed estate in
Ireland became so complicated that neither
tenant for life or for years could afford to
keep it in repair. Parliament passed the
'iRcumbered estates act," and so BY a
compulsory liquidation impaired some
value to property otherwise unproductive.
These lands became once more basis of
credit, and once more men were encour-
aged to cultivate and improve the country.
The Democratic party holds some po-
litical property under somewhat the same
improbable tenure. They borrowed the
support of the tariff men in Pennsylvania
and Louisiana. They negotiated loan of
votes from the internal improvement party
of Michigan and Illinois. They confessed
judgment in favor Of the free soilers Of
New York, and allowed for years the tacit
mortgage Of the Ohio abolitionists, headed
by that then ardent Democrat, the Hon.
S. P. Chase. There were other smaller
and special obligations granted. all bind
ing on the title to the ancient State right.
strict construction, noi m: tangere home
stead. Up to certain date all these suits
and liens were so secret as to be unknown
to the outside world, and even to many of
the simple-minded heritors themselves
There came a time. however, when all
these. contradictory complications could
no longer be concealed from the public.
AL lthese obligations have been recorded,
and as consequence, no one will advance
vote on the Simon pure recently offered
by those who hold the common seal of
Democracy. We omitted liability even
more serious than most Of those stated
One William otherwise known as ''Boss')
Tweed. acting in the name and upon
the authorit! OF the ancient Democratic
sachems of Tammany. contracted certain
obligations which have subjected him to
an impending imprisonment as public
defaulter and thief. This is held to SUBJ
ject the Democratic party to make good
the deception practiced by this Boss, as it
is alleged no one would have trusted him
with an opportunity to steal in his per-
sonal capacity. His frauds have been thus
effected upon the Democratic letter of
credit which he exhibited to the people.
The immediate cause OF liquidation is
this. During the last year the Democracy
being in extreme need acknowledged a
cognori in which it admitted all the claims
of a certain Horace Greeley, heretofore
stigmatized as tariff and abolition i'm
postor. He was also regarded as being too
liberal in morals and politics for the DEM
ocracy. So all his claims to patriotism
and integrity were admitted to be true.
All his charges that the Democracy
was a sham-ocracy were. affirmed, and
the whole Democracy went over to the
support of Greeley. Now. upon a PROPOSE
ton to set up anew the distinct business
of the Democracy, the New York Times
and Tribune move to foreclose this polit-
ical mortgage, and to put the Democracy
in bankruptcy. The New York World
opposes this demand. The Tribune says:
The national convention Of the Demo
cratic party then and there deliberately
abandoned its past, adopted platform
which represented the high water mark of
distinctive Republicanism, and which was
the work Of Republicans: and nominated a
candidate who had represented always and |
everywhere all the ideas and sentiments |
their party had fought against.
The U'orld denies that the Democratic |
party has abiured its principles, renounced
its identity, and terminated its existence
at Baltimore.
This revives that old rumor:
Some say the oev,.'s dead and buried in pumpkin,
Others say he alive again and eating apple |
dunplins
But to return to our first figure. With
such fearful list of membranes. how
is it possible the Democracy can redeem
its obligations? With such bitter con-
iict about the succession. how will there
be anything left for the true heirs? Let
there be general assignment. The as
sets will scarcely indemnify the assignee.
better close out the Old concern, gentle
men of the Democracy. and engage in
business anew. Your experience of i'm
prudent and corrupt complications ought
% make yoa very valuable partners.