Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-12-03

pie, of the East, the West, the North, and
the South, preserve with equal care the
powers and rights Of the general govern
ment within its orbit, and the powers and
rights Of the States within their sphere
They are equally essential-one to the in
dividual liberty, security and happiness;
the other TO national honor, national pride,
and national existence. We should hold
in equal honor State rights and Federal
| rights.
The doctrine Of the fxedness of our Con-
stitution as an instrument too sacred TO be
tempered with, as If il were a mere statu-
tory regulation, is clearly taught by the
history Of the past and by the verdict Of
the people. admit the correctness Of the
rule which permits amendments to the
| Constitution, when made necessary by the
| changed condition ofsociety. Such changes
should grow out of new constitutions, as
new vegetation springs from new hus-
ba,idry Of the sofia natural product, not
an exotic forced into vitality by an artifi-
cial culture. Il deny that there is neces-
sity for one, much less twenty-nine amend
ments-the number proposed in the ever
memorable Forty-frst and Forty-second
Congresses.
As to the past 'swar legislation we
l should respect its eEactments. We should
regard as settled all questions, legitimately
involved in the arbitrament Of the sword.
Our aim, looking to the smiling fields of
| the future, rather than gazing backward
| upvn the blackened and wasted plains Of
the past, should be to build up; not to tear
dOwn-to adopt, as the architects of a new
| prosperity, a positive, not a negative and
Teactionary policy. A too slow conserya-
tism is better than that wild, unrefecting
| spirit Of reform, which uproots the good
| that it may eradicate an evil here and there.
We should, therefore, reform existing
abuses, with prudent care, relieving the
people Of the South by wise statesman-
| ship in the administration OF the Govern
ment, rather than by any merely sectional
| legislation. ---
The South has her financial recuperation
and material development in her own
hands. She asks only relief from oppres-
sion-only that the Government viii stay
| its ruthless hand, and loosen its grasp Of
unwarrauted power, forbear TO step beyond
the Constitution and outside Of the law,
leaving the States in the free discharge of
their legitimate duties.
The amendments to the constitution
Known as the thirteenth, fourteenth and
manded our approval OF not, must now
command our acquiescence and acceptance
as a part of the settled policy Of the gov
eminent.
Regarding the public faith and credit of
a nation as a part of its wealth, it is both
bad morals and bad policy 10 repudiate in
part, or in wli5le, directly or indirectly, its
obligations. 1t would, however, be unuise
and oppressive to attempt the rapid OK.
tinguishment of so large public debt. A
sound policy would dictate slow, certain
and continuous payment. am convinced
that il would both aid in its payment and
save large sums Of money to the people to
abolish the present national bank currency,
substituting legal tenders, making banking
free to ali sc banks Of discount and de-
posit. This would accomplish all that is
effected by the present system, in furnish
ing a currency based on the faith and cred
it of nations, paying TO the ex-
tent of their issuance the bonded debt,
and its accumulated interest. BY making
banking free to all it would cease to be a
monopoly, and become business in which
all might engage. would not at once re-
sumo specie payments, but watching for
the opportunity take advantage Of the first
era cf prosperity; when l believe il might
and should be made the basis Of all cur
rency. That this legal tender circulation
NAV adjust itself to the varying wants OF
the people, il might be made convertible
into bonds. at low rate of interest, and
recoverable into CURRENCY. but at the
same time saving three-fOurths OF The in
terest now paid by the government on
bonds held by the banks, thus protecting
the country from the baneful effects Of ex-
pansion and contraction. | would study
to avoid ON one hand the evils incident to
an inflated eurreiicy; With its spirit OF
gambling and wild speculation, With tilti=
mate ruin TO all honest and industrious
classes; and on the other, l would as sed-
ulOusly avoid that eoIitracti0u which
doubles the Indebtedness Of the people,
makes the rich poor, and grinds the poor in
the dust, while Il benefits only the fOrtu
nate few. Hence, while specie payment
should be reached as rapidly as possible, 1t
should be attained without too rapid con-
traction, lest the people, with reference to
their Indebtedness, their daily wants and
their taxes, be as the Israelities, when they
were denied straw to make bricks, and yet
required to fill the full measure Of an OPP
preSsive task.
The taxing power should be sparingly
used. Its burthen should be borne by the
entire property Of the country. The tariff,
as il wrings from the people, and especially
from agriculture and labor, their hard
earnings, and yields them prey to the sa-
gacious power of monopoly, under the
spurious guise of protection to infant manu-
features, Is we'll worthy its barbarie origin.
I cannot discuss the tariff in so brief space.
I am. however, in favor Of a cautious and
gradual return to a strictly revenue stand
and, having reference both to the revenue
and to the dangers incident to too thought
less, rapid and sweeping change. We may
even now lay the duties upon such articles
as will not, as at present, bear most heavily
upon the great mass Of the people-upon all
save the privileged and protected few.
Labor being the source Of all real wealth
should be relieved Of the oppression of
tariff and monOpolies. 1t is not, perhaps,
singular that party Of protection, monopo-
" and oppressive exactions, should pro-
vide bureau for all classes, safe the labor |
ing masses, who bear the burdens and
hardships of peace and Of war. We should !
either provide for an interest which lies at |
the foundation Of the glory and prosperity |
of the nation by an appropriate Bureau OF
Labor, or we should leave all to an equal
chance in the struggle of life. Those enter |
prizes which have to be created and pre- |
served by legislation exist rather for them |
selves than forthe public gccds We should, |
therefore, cautiously uproOt the Whole |
doctrine of protection from our system, |
whether it exist in the form Of tariffs, sub |
sides or bounties. We should not extend |
to corporations powers not allowed to indi-
yiduals, thereby creating mOnopolies, too
powerful for the restraints Of government. |
When such corporations are absolutely
necessary to attain some great and beneficial
end, not otherwise attainable, they may
form an exception; but, even then, the
State should reserve a supervising power
sufficient to protect its citizens from their
baneful influence.
Internal improvements by the General
Government are unwise, and ought never
to be undertaken, except in cases of para
mount necessity, and when single State
power is insufficient or impraetieaDie.
From this rule, l would expressly except
the Mississippi river and its important trio-
utaries, such as the Tennessee, Cumoer-
land. Ohio and others. In the language OF
one of our greatest statesmen, it Is rather
an inland sea than common river.
The great drawback to agriculture being
the high rate of transportation, It IS the
duty OF the Government TO use every pos
sihle constitutional power TO afford water