The weekly Louisianian., 1874-03-07
IHE REPUBLICAN PARTY
AND THE FINANCES.

We said last week that the Re-
party, although in COM
plete possession of the government,
and responsible for administration,
has no financial policy. Yet the
most pressing and important of all
practical public questions is that Of
the finances, and the want Of a clear
and firm purpose upon the subject
is therefore most injurious to the
When the destruction eof
was the paramount issue
the Republican party was united in
the great policy of non-extension.
and theparty was irresistible. That
was, indeed, q simple question, in
the moral element WIS neces-
prominent, willie the manage
ment of the finances, including the
end domestic revenue laws,
the currency, the payment of the
debt, and I'LL that relates in any way
to the credit and the pecuniary ope-
rations of the government, are SUBJ
iects in which the moral element is
often felt to be obscure, and upon
which there is little general knowl-
edge and endless speculation. This,
indeed, is SO deeply felt that there
are many most intelligent persons
who suppose that there are and can
be no principles upon the subject,
and that whatever is said is only
more or less intelligent guessing.
Even Senators fout 'book=learning'
upon finance, and wish to test
theory" by Experience" not see
ing the abslrdity of their assump-
ton that their little personal obser-
vation is experience, while the OBJ
servation of the most sagacious
men of various times and countries,
profoundly studied, Analysed, and
collated by trained and master
minds, is mere "theory."
Yet however abstruse doctrines
of finance may seem to be, and
however various opinions may be as
to details and measures, the fact
always remains that the party Of
administration is bound, for its Owl
interest, to hold some clear and
definite policy upon the subject.
In the present situation of the
country, for instance, all measures
should look either to expansion OF
to q definite return to a specie basis
If Senator Ferry, of Michigan, is q
Republican in proposing imitation,
Senator Morrill,, of Vermont, is Ger
tainly not a Republican in resolutely
opposing it; and what is Senator
Boutwell,, in advocating drifting:
To say that they are oil equally good
Republicans is to say that there is
no Republican policy upon tho most
vital question of the hour. It is tc
make agreement upon the settled
issues Of ten years ago, and not upon
the unsettled issues Of to-day, the
measure of party fidelity. But this
suggests q serious question for Re
publicans.
If, after the most earnest aad ex'
haustive debate of the session, Con
gress should finally decide upon 6
policy of imitation, what would be
the position of INTIMIDATION Repub'
leans? They would have votec
against the policy declared by the
party upon the most important o:
present questions; and the GROUND
of their voting would be that il
thoir judgment such a policy was
fatally injurious to the prosperity
and the morality of the country
As party men they would share the
responsibility. How would they
excuse themselves to their constitu.
ents and to themselves Gould
they seriously say that they did moi
agree with the party upon the great
question of to-day, but that they
were fully in accord with it upon
the issue Of the extension of slavery
into the Territories? It is true that
when. another election came they
might say that as the alternative
was still the Republican or the
Democratic party, they preferred
the former. But that would be a
frank confession that thew supported