Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-12-06
ESTABLISHED 19AO.

the responsibilities they have laid upon
the Democratic party. The fact that VI
hold as yet but one OF the citadels o.
power, viii excuse US from the duty o.
legislation. The people will demand
however, that the party into whose
hands they are about 70 e0nfide the eu.
prene power, shall make q clear and
well defined enuBciation of policy, and
such discreet use Of power. already ac-
quired, as viii be TO them an earnest OF
future liberality, diseretiGl and consery'
atism. They demand that a policy be
foreshRd0wed which will arrest the wild
and wastefnl policy Of the present ad-
ministrstion, not by legislation equally
wild and reckless, but by placing the
constitution of the country, with Rll us
pfovisiOUs, honestly adhered to and
faithfully executed, across their path as
a barrier OF insupeTable power. They
will demand all It's guarantees and all OF
Its protecting power alike for the white
race and the black race. While We may
not anticipate our party Ia wisely detin-
ing and cautiously prOclaiming its poll
CIV, / may present certain cardinal points
entitled to be revered because of their
age and vel tested wisdom. AS fun
dsmentsi principle upon which
FEDERAL LEGISLATION
will mainly depend, we should stand
firmly upon the doctrine OF local self
government and the rigid limitation OF
the Federal government 10 its pre-
scrIbed sphere. To q violation Of this
principal we owe all our misrUle; to its
maintenance We must look for the pre-
servatiOn OF our liberties. The States
are tue government in ali that pertains
strictly TO governing the peOple-the
protection Of life, liberty, and property,
and the regulations of all the ordinary
relations Of the citizen, save where suct
powers have been delegated TO the gen.
eral government. Thus the States were
before the constitution; thus the consti-
tuition left them. The perpetual char
acter Ofthe central power Ss 8 iigament
binding the States indissOlubly is set
tied ; il is equally certain that it is linn
tied power. On the one hand weshOuld
restrain the general government within
the sphere prescribed by the constitu-
ton and the amendments thereto. On
the other hand We should preserve that
sphere unbrOken, and confine the States
to their own broad field Of legitimate
function. The question Of the perma-
nency OF the government being settled,
il follows thst if the general government
is limited to its grant Of powers, the
States are equally circumscnbed by the
extent Of that grant. We should, as
equally essential TO the harmony OF our
system, the general prosperity and de-
velopment, the enjoyment Of OurcOm-
mon country by our whole people, OF the
esst, the west, the north, aud the south,
preserve with equal care the powers AMI
rights Of the general government within
its orbit, and the powers and
RIGHTS OF THE STATES,
within their sphere. They are equally
to the individual liberty.
security and happiness; the other to
national honor, national pride, and na-
tiOnal existence. We should hold in
equal honor State rights and Federal
rights. The doctrine Of the hxedness Of
our constitution as an instrument too
sacred 10 be tampered with, az IL 1t were
3 mere statutory regulation, is clearly
taught by the history Of the past and
by the verdict of tie people. I admit
the correctness OF the rule which per-
miIs amendments to the constitution,
when made necessary by the changed
condition Of society. such changes
should grow out Of new constitution, as
new vegetation springs from new hus-
Dandry Of the sofia natural product |
lOt an exotic forced into vitality by an
culture. deny that there is a /
for one, much less twenty
line smendments-the number pro- I
lOsed by the ever memorable fOTty-firsI !
md fOTiy-secon1 congresses. As 10 the 1
)Gst
"wAR LEGISLATION,
We should respect its enactnents. We
hOuid regard IS settled all questions, 1
egitimately involved in the arbitra-
Hent of the swOId. Our sim, looking /
o the smiling fields Of the future, rather |
han gazing backward upon the blsck-
ned aud wasted plains of the past,
hould be TO build up; not to tear down /
to adopt, as the architects Of 3 new
a positive, not NEGATIVE and /
'sacti0nary policy. A too slow e0nser-
7atism is better than thst wild, unre- /
lsctiBg spirit Of reform, which uprcots |
hat ii may eradicate sn evil here and /
here. We should, therefore, reform |
Existing abuses, with prudent care, re-
ieviRg the people OF the south by wise |
craftsmanship in the administration Of |
he government, rather than by any
merely sectional legislation.
THE SOUTH
Jas her financial recUperation and ma
erial development in her own hands. |
She ssks only relief from oppression
,nly that the government will stay its |
Uthless hand, and loosen its grasp of /
power, forbesr to
tep beyond the constitution and /
outside Of the law, leaving the
States in the free discharge Of |
heir legitimate dulles The amend
nents to the constitution known as the /
fourteenth and fifteenth,
whether they originally commanded our
BprOval or not, must now command
ur acquiescenoe and acceptance as a
'art Of The settled policy of the govern
nent. Regarding
THE PUBLIC FAITH AND CREDIT
I a nation as q part Of its wealth, it is
9th bsd morals and bad policy to repu-
late in part or in whole, directly or in
irectly, its obligations, 1t would,
OWever, be unwise and oppressive to
tempt the rapid extinguishment Of so
lrge a public debt. A sound policy
TOuld dictate a slow, certain and con-
nuous payment. ] am convinced that
would both aid 10 its payment and
ave large sums of money to the people
, abolish the present national bank
lrrsney, substituting legal-tenders,
laking banking free TO all as banks Of
iscount and deposit. This would &C.
1mplish all that is effected by the
resent system, in furnishing q currency
ssed on the faith ana credit OF nations,
aging to the extent Of their issuance
THE BONDED DEBT,
I'd its accumulated interest. By max
* banking fTee to sll it would cease to
e s monopoly, and become a business
J which all might engage. l would not
t once resume specie payments, hut
'atching for the opportunity take ad-
antage Of the iirst era of pr, sperity,
Then believe il might and should be
lade the basis Of all currency. That
bis legal. teid der circulation may adjust
self to the varying wants Of the people,
might be made convertible into bonds,
{ a low rate OF interest, and recOnverti-
le into currency, but at the same time