New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-07-13

Jederate Dem0cfacy-Capital Demnndl
Continuation Of Republican Rule
eics
Boston. July ;, 1875.
7hc financial policy OF the Ohio Democ
cacy has turned the public attention to tht
question OF panic and hard times, as these
are involved in the possibility of . violsn,
change in the government IN 1876. The
country has certainly orospered under Re
publican rule. The premium On gold has
been reduced from sixty per cent to twelve
per cent, large proportion of the national
debt has been paid. large part OF the pa
per circulation Of the country has been re-
tired. and there has been a corresponding
oiminution N the expenditures of the va
rious departments OF the government. In
the meanwhile factories have been in
creased. more railroads have been con
structed. more lands have been cleared for
cultivation. and ths tide of foreign immi.
grafton continues to pour :ato oUs seaports
The South IS producing more cotton, wheat,
corn and tobacco than eve. before. while
tho sugar and sics crops are gradually
creeping up 20 their old star da,d. Ia the
midst OF al! this p7oductiveness and prog
cess we hear the cry o: hard times We
seek tor the cause for this cry. We find it
IN ;he panic which has suddenly seized upon
capita:
Why ehoail capita: .. .aus alarmed /.
Looking abroad we ind nothing IN the con
ditlon O: Europe 20 justify this panic.
Where. then. does the DANCE. come from. !.
There can be bu: one answe. to this aues.
zion. Capital. which IS sagacious as we'll
as sensitive, forecastes the danger incident
to the change of our governmental policy
Involved in Democratic restoration in
1876. That restoration means revolution.
and capita! shrinks back from such violent
and sudden changes in governmental. The
revolution may be bloody or it may be
bloodless: but il will be revolution never
theless. II will unsettle the national indus.
tries. and open the currency question to be
tampered with By the same class of wise
men who in two years brought Confederate
money to 100 per cent discount below
gold. 1t will substitute sert labor for clti-
zenship labor at the South. producing the
same condition Of things there which
blasted the British Indies. where serf labor
has been tried and proven failure. In
short. there Is not a single interest of the
country. financial. agricultural. industrial
or commercial. which will not sutter from
this Democratic reaction.
Now the signiican. fact n a., this matter
is, tina: the almost certainty of Democratic
restoration fails to impair: confidence to
capital. If, as is claimed by the Demo
cratic leaders. their management of the
country is to prove SO great blessing. why
should the very prospect of it produce such
a panic with capital, The same panic set
in immediately after the Liberal Republican
Convention which nominated Horace Gree
ley for President. Business then, as now.
came TO standstill. Money was with.
drawn from circulation. Discounts ceased
T factories began to work short time. Things
became blacker and blacker. az the tide of
political reaction rose higher and higher.
Finally the business interests OF the country
checked the Liberal Republican expert.
ment. With this check confidence revived.
and finally. when it was pretty clearly set.
tied that we were to have fouc years more
0: uninterrupted Republican administration
,t the affairs of the nation. confidence
was perfectly restored and business re-
gived all over the country. SO it is likely
% be again. It may take one or two severe
essons before the people can be taught to
zee the real cause Of the panic which has
seized upon capital. but these |
essons will be taught. We may yet wit |
less sudden decline in the value of United |
states bonds. Prudent men may wish to |
.et rid of these bonds before the Confed. |
rate Democracy get a chance to impair |
heir value. We may also witness the |
ransfer OF private fortunes to the safe
eeping Of England until the political
torn in America blows over. These and
imilar indications will not be wanting to
how the whence of the coming whirlwind
7hich begins already TO blow 80 cheerlessiy
nd to Gu: so keeniy.
iruien. people begin to ask already.
What are We to gain by a change Of gov.
ITO whose hands are We to
ontide our government with all its vast
lteres.s.' What are the antecedents
nd Q characters of the men who propuse to
lanage our finances for u.s." These quas-
ons suggest ugly possibilities. The asser-
on Of General Gordon OF Georgia. that ne
ves a Cnited States bond and that he
ves 70 pay the interest on it, IS beginning
be received with doubt; in 4 word the
onfederate loyalty 20 the United States
,nd is openly questioned by sane people.
he same distrust exists in regard to the
EN- ocrat;c ally of the Southern Confed
derates. Ohio imitation recalls SO many
of Democratic reputation
at people begin to be alarmed.
To show the ssgacity of capital in this
sta nee. it may be safely asserted that the
sura nee of an uninterrupted Republican
mi nj stration of the affairs of the country
s four years longer would at once restore
siness confidence. With this restoration !
conf dence among capitalists would come
9 revival of business throughout the
untry. There is plenty of money in the
nks. The country has never been better
!e to purchase and pay for goods of all
Ids. Our surplus productions of valuable
'ps has never been greater. All we need
,on tidence n order to set money flowing
4 business going. To inspire this conf.
ace the government: must remain in the
ong aud sagacious and truly conserva-
q hands which have brought US SO far
ely and prosperously. Such. l believe,