Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-03-15
THE REPUBLICAN PARrY AND OUR
NATIONAL CREDIT.

NATIONAL CREDIT.
The highest possible critsrion By which
Ihs principles Of great national party
In their effect upon the prosperity Of the
country in which they obtain. can be
judged. ID the condition Of tho public
Foreign capitalists. and even
thoss at home. are not disposed to in
vest In the bonds Of government. un-
les they m sure that 1t il substantial ;
thai u honestly means TO pay it securi.
ties ON maturity. and that II will b able
10 pay them. In borrowing money. ma
lions are treated precisely q individuals
In the same relation. The lender is
carsfal TO know that he Ii not sinking
his wealth In an Improbable enterprise;
careful to make sure that both interest
and principal will b paid when due.
Whom Q nation can once satisfy the
world Of its perfect solvsncy, IL will
have no difficulty in selling its bonds at
. premium ; but once let the slightsst
doubt Of its financial resources gain cur
rsncy and II will Be- hard to dispose Of
its securities even at q heavy discount.
Al the close Of the war the United
States found Il necessary to issue bonds
to . large amount to meet the indebted.
nsss into which the long struggle hal
plunged ~. These securities were an.
thorizsd BY q Republican Congress and
issued BY . Republican Administration.
The fact that they were thus guaranteed
BY the great party Of justice and right.
BY the party which had saved TO the
voAd the only great republic OF. its
surface. gave TO them at once . value
above thsir face. There was no nssd to
90 begging for buysu; We were not
forced to 60 into the markets Of the
world supplicating for patronage. Tho
capitalist came to rs. only too eager to
purchase bonds which yielded q fair
interest and were certain Of being met
promptly on maturity. II Is doubtful
II the credit Of any nation on the earth
svsr stood 70 high before at the close Of
. long and bloody war. II wa a grand
sight for the rulers OF the world 10 con-
template. Here was . country painting
after q four year, struggle for very
existence; . large section desolatsd by
the bliehhns tramp Of . conqusring
army Its industries paralyzed and its
people looking upon each other with
the suspicion naturally ensendersd by
civil strifs-a country. in short. with
everything against II. and apparently
nothing to recommend il to tho capital.
ist. And yet foreign coin flowed into
the land like water. and the bonds Of
this dssolsisi country sold in the Euro
psan markets ut a higher rate than
those Of any other nation.
The reason Of this wa that the great
world Of nations had implicit faith in tho
purity. integrity. and power Of the Re.
publican party. They had seen this
party sprineing up rs 1t were in q day.
conjuring armies by magic from the
ground. managing the financial affairs
Of The nation with conspicuous ability.
and conducting q great war to q success
full eloss in spite Of every obstacle mt
home and abroad. No wonder that they
gazsd with admiration on this novel spec.
tacle. II was something hitherto un.
heard Of In the history Of the globe. No
wonder that their moneyed men. i'm.
pressed With u firm faith in the destiny
OF this wonderful party Of justice aud
freedom. fastened TO pour their treas.
ures into its lap. and trust their wealth
to its keeping. Its past glorious record.
achieved In the tumult aud confusion OF
civil war. was ample guarantee Of its
future honesty and efficiency.
And this same grand old party % the
national salvation Is In power to-day.
and for that reason and that reason
our credit abroad still stands on u
basis. More than this, the securi-
ties Of the United States are preferred In
the European markets to those Of any
other country. On the 9Th Of March.
Tho day OF the Inauguration Of President
the London Tunes. tho acknowl-
sdsed European authority in financial
matters, uttered these memorable words:
united States funds are now almost
he only legitimate objects Of investment
the foreign market" This was the
compliment with which the Republican
party was ushersd into its new lease OF
power. Is there u man in the land 30
~ TO think that these words
would ever have been written bad the
succeeded in the late cleo
II the Republican party had nothing
else to boast Of in its benefcent reign,
Il would be glory enough to say we have
this nation on . financial basis
superior to that Of any country in III,
world.