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

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must soon become actors. There re.
mains much Of Radical corruption to
unearth, much OF Radical rubbish to
remove; but at the same time we must
begin to lay, broad and sure, the
foundations Of a coming and lasting
| prosperity. Democracy is not the
mers counterpart or complement OF
Radicaism; it is not the negation Of a
negation, but a positive force, resulting
from positive principles. Its restora.
ton means a return to the principles on
which the Republic wes founded.
Oar mission, therefore. is not to
undo what Radicalism has done SO
much as to do the work before us bet
ter. a p5sitiveand harmonious policy.
consonant with the interests Of all sec
tons, must be matured. The process
cannot be forced by caucus or conyen-
ton. 1aturity results only from
growth, and healthy growth requires
the light and ventilation of discussion.
Consciously, or unconseiously, every
section and State, and influential man
or Journal, viii contribute something
toward determining, shaping, modify
ing or harmonizing the views of the
whole. The process IS one Of applying
the principles Of the Constitution to
the needs of the hour, in so far and 50
soon as existing circumstances render
It possible to do 50.
Our enemies expect tie Democracy
Of the Est and West, North and
South to split on the questions Of
tariff ana finance. This cannot be, IN
less our party become sectional, which
it has never bsen, always rallyins its
adherents IN every State Of the Union
at every election, even during the
dlrkest days of the dark past. It's
vital principle Of local management for
local concerns gives vitality to the
party everywhere. When we come to
treat Of matters affecting the whole
country, and on which the interests Of
sections seem to clash, the Democracy
dictates equitable compromise IN the
SINE spirit that rendered possible
the framing Of the Constitution
Of Use. Neither West nor South.
wish revenge on Eastern monopolies
of money OF manufactures. They want
mere justice, no more, and the Demo.
crscy Of the East VIII not hesitate TO
accord it. There is less difference be-
tween the masses East and West, upon
the tariff, than the superficial observer
imagnes. Protection has been run
into such absurdt'cs that those "pro-
t5cted" II one way suffer from tin
another. Wooden factories have been
protected almost out Of existence
New EngIanders grumble at the
tariff on coal, compelling them to
buy from Pennsylvania, when Nova
Scotia can give them a better and
cheaper article. Pennsylvania, in turn
has Suffered SO much that Congress
men elected on q nigh tariff
platform are repudiating protection
st the dictate Of their constituents.
Al are suffering from the arrangement
of a clumsy financial system When
the New York Board OF Trade adopts
a resolution like the following, as It
did last Wednesday by a unanimous
vote, we can see the drift Of events:
That the tariff laws should be framed
with a visg of raising revenue from
the least possible number Of articles,
and, rs far as possible, from articles
not manufactured or produced in the
United States, and that no duties
should be imposed or raw materials
which enter largely into manufactures;
that all duties should be specific, with
regard to value, and classIhCatIOns sim
pie and distinct.
This means a tariff for revenue only;
there is no protection" Tor manufac-
turegs IN 1t, except the reasonable one
lat raw materials which they use shall
enter free. When New York talks in
this fashion, we need anticipate but lit
tie trouble IN adjusting the tariff.
Financial reconstruction presents
more difficulties on account Of the alb
normal and depressed condition in |
whi.h the Radical party leaves the !
country, and its progressmust be grad.
ual, because We must keep the ma
cbincry going, while We work On it. |
Yet we think the policy Of the Demoo- |
racy, even on this intricate subject, be- |
gins to lie forc5hadowed with suff- |
cisat defniteness to allow the draft |
of a rough outline. The national |
banks are foredoomed, as they give no |
security or other equivalent |
for the double interest they receive, !
their notes resting on the public credit |
the same as greonbacks. In their place |
viii arise banks Of exchange and dis /
count, with power to utter circulation |
on gold basis. Greenbacks viii |
smooth the road : f transition, and |
these, too, must be placed on a specie |
basis, as soon as possible. There need |
be no contraction whatever. On the |
contrary, leave the new banks free to |
respond to the wants Of commerce and |
communities, and we viii have all |
the currency we need. A specie basis |
does not mean contraction, nor |
does it mean the Punishment o paper /
money any more than it did before the |
war. Bat 1t means that a paper dollar |
shall be worth a gold dollar; that the |
poor mans dollar shall buy as much as |
the rich mans d uar. L means that /
the importer, and the Wholesale dealer, !
and tie iyJJI, and tie retailer, sh Ill 1
not each make his little SUM # add |
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