New-York tribune., 1877-12-21
CVtyN THE DETTT.

CHIN THE DEJIL.
Doubt of the South; is it straugc7 The
very life of the land now tu,ns upon questions
Of debt and money. Can the South be
thought faithful? Its most conservative
writer, not rs to road debts or town debts
but as to the Nations bonds, thinks fit to warn
those who own them to "make sails
"factory adjustment NOW, whilst they can,
"and before the devil Is loose" Who
shall say that Mr.. WattcYsOn rates the danger
too high "Wc mean to pay our debts he
saws. We mean to stand by the credit OF
g The Government and the honor of the flag.
but! "The debtor is anxious no'c TO be
"bonest for his own sake and the cOmtTy's
"sakc. He wants to settle fairly, but he can
mot settle on the hard terms demanded
without wipiug himself out, and that hc
"viU not do" Then he tells ms that
"the one item of universal suffrage
"kuocks the props from under enlightened
.sthcorizing Of every sort. The bonded debt
"hke slavery, twin monsters BOTH evils of
"modcn civilization, is to be made safe by
"compromisc. In the one case, rs in the
"other, extrcmism is war, and war is the ruin
"of the bondholdcr." This is not the worst.
but the best that the Souh has to offer us.
adjust TO please us, on we viii not pay at
"all."
This too, is talk from one who is called
at the South, OF hard money men the hardest.
We have heard it before. State debts have
gone that way. Take less or we pay nothing"
has been the word. Tennessee speaks it
now, and virginia, Louisiana, Mississippi,
Arkansas. Georgia. Alabama, South and
4 4 f1...
by the score have made the same threat
II las come to be the known answer
of Southern States and towns, when asked to
pay what they owe. Is it strange that the
same cry comes to men who hold bonds Of the
Nation? Even now the South feels sure of
power. II owns the Democracy. Thus it
means to rule House, Senate, White House
and Supreme Court. What hiudcrs! Nothing
but a party of the North. And that
party-more shame to it's not one as to the
form of sealing debts known as the Bland
Bill. But that, of all Others seems the most
favored form of adjustment to the highly
conservative S0uthencr who says, Make a
satisfactory settlement nOw, before the devil is
"loose" isnOt fair to lose sight of the fact that
The CoWir-JoUndI wants levccs, also, and
roads for the South, and the sort Of concilia-
ton which means business has said that poll
tics at the South ought TO mean cash, as it
has at the North. Kill credit, spend much
and make more debt; is not that the one mode
OF making the South happy
Yes the devil may be loose. On the whole,
he is loose, now. For the South has great
power, and is solid. 1t makes war upon pub
lie credit by asking great outays. II makes
war upon public credit by BANDS Bill. 1t
"scales" town and State debts and wants to
scale debts Of the Nation, and backs strong
votes with loud threats. That is the sort of
thing the North has to face. Call it the devil,
If you will ii is in sight. And the North
answcrs-Whatl
This, we hope: That no party called Demo-
cratic shall rule this land ~ lonG as debt is
left TO be paid. Let us see which has the
right, for the right will rule. The North asks
only just payment of all just debts.
1t pays its share. If its share is
the larger, its outlay, for building roads,
making towns good to live in, giving States
order, and putting down rebellion, has been
large. Ii has spent, and asks payment for an
spent for The common good. II was { r. the
common good 10 put down rebellion, and the
NpTiN Hc,tHN tldJ no NouthcIh SCdllhS snail
cheat those who gave means To that end 1t
was for the common good TO loci, together
by iron rails the loyal States and the
cost shall be paid. 1t was for the COM
mon good to rebuild roads and repair
cities at the South, when the war had closed,
and the cost must be paid In one way or an
other, it viii be. If scaling debts makes
those lose who own bonds, The cost will come
back in lack Of credit and of means for many
years The South needs means, and can not
get money and still cheat creditors. Fifty
years Of It's future are in its hands to-day
Votes for Bland's bill, votes for scaling
debts votes for wantcn psAiing, win put
an end to lending to the South or for
works at the South. Lands will be dead
for want of cash to make them bloom. Vast