The New York herald., 1876-10-24
Tho Presfdenttal Election and the
National Credit.

relating 10 the publlc credit-a discussion So
mischievous that an independent journal
may be justified in interposing as a modera-
tor. This discussion has grown out of a
trivial circumstance. The Washington cor
respondent of respectable evening paper
telegraphed that letters have been received
from London in which the opinion was ex-
pressed that the success of the democratic
party would arrest the new four and half
per cent national loan. AS the corre-
| spondent gave neither the text OF the letters
nor the names of the writer's his efusi7e
despatch deserved no attention. Carlyle,
in one of his bitter moods, described the
English public as consisting of "thirty mill
| ion people-mostly fools" Without in
dorsing this ill-tempered sarcasm we may
safely say that among the thirty millions OF
our British cousins there are at least thirty
fools, and if any two Of the thirty wrote such
| letters az are described by the Washington
correspondent of the Epening Post his truth
| fulness might be vindicatcd without making
his despatch of any importance. The letters
| in question -conceding them to have been
| written and received-are of no consequence
| so long as the names of their authors remain
concealed; for any free born Briton can
write an absurd letter to any Yankee on
any subject he peases. II the writer is
one Of Mr.. Carlyle's multitude of
"fools" his opinion is OF no con-
sequence, and whether he belongs to that
category or some other no mortal can know
so long as his name is shrouded in mystery
The importance given to the statement OF
this Washington correspondent is ridiculous
Mr.. Belmont has lifted him into Fictitious
Importance by deigning to reply to his loose
assertions. Whether the letters in ques-
ton have any real significance depends on
the standing of their authors and SO long
as their names are withheld it is all the
same whether the letters are apocryphal or
the writers partisan idiots. Until their
names are known their opinions cannot be
weighed for moment against the statements
of Mr.. Belmont.
Until the letters and signatures are pro-
duced, SO that the public may judge them,
they will be regarded as desperate election
eering device; and Of all electioneering de-
vices none deserve severer scorn than one
which trifles with the national credit. Web
ster once nobly said, in q speech in Con-
gress more than sixty years ago:-"Even
our party divisions, acrimonious as they are,
cease at the waters edge. They are lost in
attachment to national character We sim
cerely wish we could speak as favorably Of
party contests in 1876 as Mr.. Webster did
in 1914. We wish could say now, MS he
did then, that party divisions cease eat the
waters edge" and that our people are SO
truly national that party differences ''are
lost in attachment to national character
There is reprehensible want Of patriotism
and pride of. country when one of
our political parties is willing to
sacrifice the national credit to partisan
ambition We have no doubt that the
opinions expressed by Mr.. Belmont in his
letter to the HERALD, SO promptly seized
upon by the whole republican press as an
electoneering topic, are as sound as they
are patriotic. Mr.. Belmont said LIVERY
intelligent man in Europe knows that our
country is rich and that the people will keep
their promises, no matter what ephemeral
secure under democratic or republican ad-
ministration' We entirely agree with Mr..
Belmont when he goes on to say :-'fThe at
tempt, for the mere selfish or partisan
prejudice of an hour, to obstruct the
great and necessary process of refund
ing the national debt at a lower
rate of interest is shamefully unpatri-
known English letter writer's may be whose
correspondence is alluded to by the Wash
ington correspondent of the Post, it may be
safely assumed that they know less of the
subject. than Mr. Belmont and the Roth
schilds. The truth is that the great house of
Rothschild is the main pillar of the Syndi-
cate. 1t is no exaggeration to say that that
house is the Syndicate that without it Sec
retary Morrill, could not have had the success
Of which he has so often boasted to WASH
ington correspondents of the HERALD that
if the Rothschilds should withdraw from
the Syndicate the loan would fall
fat. This is notorious. and Secretary
Morrill, would be the last man in the
country to dispute it. Now if the
new loan were In jeopardy 10y the pros
pect of Mr.. Tilden's election, the
Rothschilds would be the first to scent the
danger They have been accustomed Tor
more than half lifetime to rely on the
Judgment of their sagacious agent in New
York as to the safety of American invest
ments and certain it is that neither he nor
they have any apprchensiSns founded on
the possibility of Mr.. Tilden's election.
When we consider that Mcssrs. Rothschilds
and Belmont are really the Syndicate. and
that they feel no alarm respecting the result
of the Presidential election, the Washing
ton despatch to the Post will seem small
and ridiculous. If there were any real