Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1873-10-22
The administration and lSs PETS.
the EtutSrOQf SrrtSSfffrrs.

For years past We, along with other
Democratic journalists, have been pre.
dieting the state Of things which, with
the suddeness Of thundcrbolt, has fal.
len on tho country. Not that we
were blest with prophetic vision, nor
with moro than natural prcscience, but
aware that like causes produce like
effects, VIC know that the causes which
produced distress and ruin in other
countries, set in motion here, would
produce the same effect. This nation
like many others which have preceded
It, has for some years past, been dcs-
troying more than producing, conse-
quently now, when pay day has ar.
rived, it has not the means TO meet
tho demands made on It. For over
five years, millions OF men were drawn
from the productive fields of labor and
sent on the work of destroying what
had already been produced. The
natural result, debt upon debt was
accumulated until it absolutely became
frightful in its magnitude. Had the
governmen. after the war was ended
and the debt incurred, acted wisely
by introducing economy and frugaity
IN all its departments, and made this
the governing principle, no doubt tho
same course Of action would have
governed all the business relations of
The country. But it pursued the con.
trary line ofpolicy; improvidcncc and
reck iessness IN the incurring of OK.
pense seemed TO animate every de-
parlment, from tho highest to the low.
est Grant set the example and his
subordlnatcs followed their leader
Tho Radical majority in Congress
caught the infection, and acted more
recklcssly. No regard for decency.
nor for the interests of tho people AMI,
mated them. The public lands, tho
patrimony OF the latter, one of the
means left to assist in paying the na-
tons debts, was shamelessiy sauan.
dered. 1t was given away wholesale,
TO irresponsible corporations, on con.
dltlon OF building certain railroads.
Enough land was thus voted away TO
make half dozen states of tho size of
Pennsylvania. To secure these lands
IN perpetuity, by going through the
forms which Congress, out of regard
TO appearances had enJoined on the
companies, railroads were projected
which were of no more necessity 10
the real wants of the country than ri
projected TO the moon. But the mem. |
bers OF these speculating compinies
were not disposed to sink their own
money in these Quixotic schemes
What they desired was to gobBe IN
the public lands, hence they hit On the
plan of building the road from the
salc OF bonds. These lhcy Issued,
beautifully engraved, and advertised
thom largely throughout tho Union,
holding out to the purchaser the most
hattering and alluring prospect of a
speedy, rich and safe return on tie in.
vestment. The result was, Thousands
oil the honest yeomanry of the pun.
try bought the bonds, one-farm,r in
this vicinity that we know of. invest.
ing IN them to the amount of seven
thousand dollars. But the first prick
OF the inflated bubble has brought all
these wild cat railroad schemes 10 the
ground, and the producing classes are
the hrst to feel the disatrous effects
Jay Cooke and his coterie of swindlors
us true have oeon driven TO the wall.
but, under the protection and patton
age OF the Administration. thew will
soon be on their feet again ready 10
engage in somo other such swipdsng
enterprise, but not 30 their poor dupes,
tho blow ia fatal to them. Their III.
Tie oil in many cases is literally swept
away, and here is where tho country
is made to suffer most, in tho robbery
OF those who arc the least ablc TO bear
1t. All through tho folly and wicked.
ness OF an Administration and Con
gress who, like Nero, have played and
irollcked while passing measures that
tended to bring the country TO des
truction - Danr}ie Mcclligencer.