National Republican., 1876-10-13
EALsIFIER.

MI. L dIhC OOuhluJ doeVSLntCu
with the venerable poet Mr.. VIM. Cullen
Bryant, in the editorial conduct of free
trade newspaper, and considered somewhat
respectable, has just delivered an address
to the business men of New York, which
is much more remarkable for its errors of
fact and its fallacious logic than for the
patriotic craftsmanship which had been ex-
pected from that source. Mr.. Goodwin GER
tainly is not natural fool he is not SO old
as to be q dotard. His memory is said to
be quite tenacious. His errors, then, must
be attributed TO passion for willful lying.
For instance, he says:
'My first remark is, that the dominant party
from the beginning has had no policy. This
was not entirely its own fault, for it was orig
inally a mere war party, and war parties are,
from their very nature, heterogeneous in their
composition and inconsistent in impulse. Web
ster said of Hamilton, at the close OF our Rev.
olution, that he struck the rock of national
resources and abundant revenues rushed forth,
but at the close of our greater revolution no
Hamilton appeared, 10 leading man capable of
infusing his own spirit into the mass ot men,
and so create great national party, aud, per-
haps, an epoch. Instead of that this party
chose for its leader a man who, to say no
DDS and quite ignorant of civic issues. Thus,
having no definite plan, no competent head,
this party has been party rather ot promises
than of performances. We emerged from the
war with a great debt. The first duty should
have been to consolidate the smaller debts into
one or two great debts, with low rate Of in
terest, and then provide means for the extinc-
tion of the principal, but our managers thought
the best thing to do was to pay off debt that
was not due fortwenty years. To me 1t seems
a master stroke of folly. 1t was, besides, ille-
gal, for the law of 1869 made it improper to
pay any ipterest-bearIng bonds until the non-
interest bearing bonds had risen to q par with
gold. 1t is no time to pay off debts when your
capital IS used up and your trade Is stagnant.
Instead of economizing, the party has gone on
incurring more expense. Our tariff, too, which
should be simple, is great catalogue of ex-
tortions, some four or five thousand in kind,
not laid for the revenue, but to the detriment
of the revenue. Where are your clipper ships,
once the pride and the admiration of the world!
Where is the tonnage of the country, once
second largest and rapidly becoming the
largest! Where are your stately steamships
sailing under the American flag! Gone
Taxed out of existence"
1t had no policy? Its vital policy at the
outset was tie non-eXtension of slavery
into free territory. 1t was q war party?
In 1861, during the session of the Peace
Convention, it offered everything any party
could in honor offer to maintain the peace
everything except the yielding the con-
troll of the Government to its reasonable
opponents. 1t offered constitutional pro-
teclion even for existing slave States. 1t
was the Southern Democrats who made
the war, ard who with their Northern allies
constituted the war party, and Mr.. God
WIN knows it. He has SO stated thou
sand times when he was jour nalist. No
Hamilton? When did a nation have an
ADLER financier at its helm than Hon. Hugh
Mccullough proved himself to be in 1855
at the close Of the wal? Who could have
followed Hamilton more CLOSELY? Who
could have rendered more efficient aid in
the way Of cancellng contracts for war m1-
teTial and utilizing and disposing Of what
was Cn hand than did the general of our
armies, who is now our President? Mr..
Goodwin forgets that the General hastened
from Appomattox TO Washington in order
to consult with Secretary Stanton as to the
best means of at oOce curtailing our vast
expenditures, and of reducing the burdens
VI lSOllACJ vi hO III
this illustrious warrior statesman.
General Grant was urged to make q tri-
umpbant entry mo Richmond with his
victorious army, the capital of the fallen
ConfederacY, but fatty refused, because his
duty demanded that his efforts should be
put forth TO stay the colossal expenditures
then rendered unnecessary by the surrender
Of Lee. "Quite ignorant Of civic issues"
wGs he? His career as President has shown
an acquaintance with civil affairs combined
with good common sense, such as no Demo
cratic President has ever shown in the his
tory OF the Government. The history of
the country attests the truth of this asser-
ton. The policy Of General Grant with
regard to the debt has been almost pre-
cisely what Mr. Goodwin says should have
been done, with the exception of gradual
reduction of the debt. Our debt was
funded at the lowest rates we could get at
first, and as our credit was appreciated by
the prompt payment of interest and gradual
reduction of the principal, it has been
gradually refunded at lower rates and on
longer time, and sinking fund has been
established for the payment Of that princi-
pal at maturity. The interest rate has been
reduced one and one half per cent. The
Republican party has managed the debt Of
the country as an honest man conducts his
private business, when he would preserve
and appreciate his credit. One single ex-
ception must he made to this statement.
But this was no fault of General Graut.
We refer TO the non. redemption of the
greenbacks in specie. An honest business
man redeems his due-bills in cash. Gen.
Grant wished this to be done by the na-
ton. But he was oyerruled by Congress;
and the Democratic House at the last ses-
sion and the Democratic convention at ST.
Louis both resolved that it was not yet
time, por would it be in 1879 even, for the
nation to be honest in this respect And
Mr.. Goodwin begs New York merchants to
elect Mr.. Tilden because he knows all
about ''civic methods" and finance-he who
says We cannot redeem in 1879.
Mr.. Goodwin says cit is no time to pay
"off debts when your capital is used up
"snd your trade is stsgnant." And yet
De appiduGS tue party ldSt
session cUrtailed the payment, by parsimo-
uious appropriations, of the legal and
honest Indebtedness of the country, with
out making any corresponding reduction of
taxes. That action is now piling up rev.
enues in the Treasury and adding to the
commercial distress Of the country by
contraction OF the currency. 1t is wonder
that some of the New York merchants had
not told Mr.. Goodwin TO bis face that he was
making an 6ss of himself.
Where are your clipper shipsF" cries
this jealous, newborn convert to modern
reform Democracy. Burned by the Con-
federates and paid for by British gold. Sold
to foreigners that they might safely sail
under foreign flags and escape destruction
by Democratic cruisers. They have not
been replaced because there has been no
trade to demand them since the war.
Freights have not been high enough to
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