The Republican journal. [volume] (Belfast, Me.) 1829-current, 1877-11-22
Let US be Honest.

Let US be Honest.
While the financial policy of the coun-
try was an undecided question, in the
years succeeding the war, honest differ
enae of opinion was admissible. A variety
Of opinions were entertained. and were
urged upon the public by their friends
with zeal and persistence. After the
fullest consideration of all the differing
views, and an estimate of the country's
resources and ability for the future,
policy for the government was definitely
adopted 1t was decided that silver, from
its abundance, cheapness, bulk and liza
bility to tiuctuation. had become unfit for
circulating medium, and was therefore
demonetized by act Of Congress that is,
it was made legal tender for sums of five
dollars and no more, in one payment. \
time for the resumption of specie pay
ments was definitely fixed at January
first, 1879. These were placed firmly, it
was hoped as foundation stones of the
return to a sound and healthy currency,
the pledge of good faith to the creditors
Of the government, and the guaranty of
fidelity to our engagements, and of in
tegrity to all the world.
The question which the people of this
country, and especially those who repre-
sent them in the councils of the nation,
have to consider, is whether we shall hold
fast to that to which we are pledged be-
fore the world to do, or shall palter with
it i'll Il double sense, and pertidiously
break our engagements. We believe that
the sterling good sense of the nation will
in the majority protest against lowering
the standard an inch. The ghosts and
gobins which the high priests of initiation
seek to raise to frighten the timid have
no real substance. Finance is not the
tangled problem and mystery which they
seek to make of it, National safety in
finances is made up of credit, credit is the
offspring of confidence, and confidence is
proverbially of slow growth. A fixed and
stable policy in respect to the money af
fairs Of government, will win the re-
spect and confidence of those with whom
it deals-Whle shutting, evasiye make
shifts at once give alarm, and the credit
of the country falls.
Under the present policy we have car
ried the national grecnback in value to
81 per cent, which is within two and
half per cent. of par, and consequently
of resumption. The money market is as
sensitive as an aspen leaf to the least
suspicion of bad faith. Before the pres
sent discussion III Congress, the debt was
being rapidly refunded in four per cent.
bonds, with an immense saving in inter
est. BY enacting silver into an unlimited
legal tender, Il little margin would be
unfairly made, with Il lalnentable loss in
prestige and credit, and that immense
actual money loss which the unvarying
laws of finance always exact from the
faithless and improvident. Silver pay
ment may be the payment of coin, as is
claimed, but it is no better than green
back it simply keeps the word of
promise to the ear, and breaks it to the
hope"
The Belfast journal does not answer the charges
against it and its editor made by the Opinion last
week and it cannot do so. lRockland Opinion
We do not deem the matters alluded to
of sufficient Importance to compensate for
the space which notice of them would call
for. A newspaper, in our judgment, should
not be made the vehicle of its conductors
special interests, ambition, vanity orgrief.
Neither should it take up space belonging
to other matters in vindcaton of it's con-
uctoragainstfo foolish imputations that re-
flute themselves. OF the latter class are
those of the Opinion, concerning the con-
nection which the editor of the Journal
has had with politics in more than twenty
years past. If they are all left uncon-
tradicted they will be of not the slight
est consequence. We prefer to deal with
matters of to-day.