, 1877-09-05

anil te never explained when Or low tic
$l.G0o ,uu0,0Oo of unconstitutional forced
l,otes wero to l'e paid. Tho result Of tho
w1,olo matter WIS that tho people sat down
OH him md Bq,ielchod him rs d repadiAting
snsc.l.
The nan SPENCER who wrecked tho State
Savings Institution in this cily has good
many ilnitnsors In public life. They are tho
subsidy hunters. They find tllo!r own pri-
vate credit has bcen exhausted; they havo
helped to lepacso tho corporations with
which they have been con,1ectetl; they SEQ
municipalities lonled down with debt, I
States in dcfnult, nnl wllolo communities
bankrupt. There is just one thing aud only
ono thing left for tllern to speculate on, viz:
the faith of the milton. l,y great care aud
honest dealing, tho national credit Ina bceu
saved from tho tnint which attaches t., pretty
much nil ntLer forms of cralit. Tbs United
States can borrow ,nonuy at tho lowest rates
of interest. The ScE&cEns Of public lifa
aro determined 10 tr4de upon this credit
mud destroy TINT as they have nil
other. They want TO increase The
national dsbt n thousand millions to
furnish themselves with pluudur. They
aro perfectly willing 10 mortgage fuluru
generations, to bring tho United Statea
financially down to the condition Of Turkey
aud Tho Sontll American kepnhlics, anl to
sslua1ldet hundreds of nlillons Of tlollara in
unre1nuncrative investments, In order TIM.
THAT T. npfs
to lnako formidable raid upon tho next
Congress. Tl.ay will present themselves
tirst under tho cover Of :lo Texas l. pacihc
Railroad. asking subsidy which thoy havo
generously rndncu.l TO $:5o.010.000 by lol'-
plug OF t,aW miles Of proposed branches.
Hut this Is only = single item in tho pro-
sratnmo The political Srrxcrns have mid out.
Tho attainment IT tho ToxAs l. paoitio
subsidy will 10 nlcrely tho opening
wedge to Try into tue Treasury. That
particular subsidy cannot DO granted
without arrangements being concluded
for drawing upon the national crolit to
Iuild tho Northern Pacific llailroad to build
1evees nlong tho Mississippi River; 10 ba,lt
ralroal from Sals l.ako 10 Portland, Ore;
to lui!d tho st. james j. Kanawl,a Canal 10
tnill sllip-In1nl from Luke Clamplain to
Albany to lm'd naother around tue Eiagnsa
Falls OH thu Anerica.. sila; to Luild mora
cafnls In Georgia, and Tennessee, and iii.
noiH, and nthrr S!ntcH; to pay 3Ir. EApEs q
hundred millions Ut slolar* 10 put ths Ohio
River into permanently good condition Oil
l,is new plan; In Rrnns annual subsidies to
Atealnshirn, etc.. ttc. The subsidy y-beggars
OF tho 't'ex,a Il Pacific scheme merely repre-
sent all array Of SrExcEns, anxious to plun-
.'er the peoplo Of the limited States ~ 6rES-
GER plun1esoa tho .lepositora OF the stasa
Savings lustitntlon. and to wreck tho public
credit nj completely as TINT institution wa
wrecked.
It is nsc,es7 to lisgutse the fact that thsaA
Is great danger that tho 'rcxus j. racidc
beggars will succee.l, and Tint their SUGGEST
will slguify tito bankrupting Ut tho public
credit by tho wholesale squandering Of pub
lie moneys On tho various kindred sclat r,ea.
lnIred, it is better that the extent OF tl.c
danger should be fully mpprelenIed iu os.ler
that the sasy. .solng. accommodating n>psl-
hers Of Congrrss suay bo stirred up to solno
thing like nlasan. Tow kcorT, In his paper
In H., N,,,b I,u-r;t,n H<r;.o ~, III. rno,,,.
.,r;t. ,,t,;,.r,.s tha b,r., ,;,naz - IT,,
n.;~' a.,l J..,,uct;or ~ .r..,;, r,,I H. x.s.
l"od. IT .,.ft s,,1 t.xat;on w,,r,, ,ha r,,;o,
tic States. and The municipal corporations
sra,o ,n,sin, . ,,ssnsr,ts snort =, ;nor.as.. .
,ha r.ti.,nsl ,o,.i bv nj 1s,., a.n :
Nv, mn ~ h,s oxn oan.a, viii, H.
.ax,.;r.,. ,,.t,-, lin, .,,,t ~ ,,,.,, ~ tna
-,,,'s;l,,t, ..t., ,v;,, a,,,,t ,,ha., a,,,.,,,,,