Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1878-03-19
Public Credit.

In the last issue OF harper weekly,
Thomas Mast has a double psge cartoon
of more than usual excellence. The
scene represents Bro. Jonathan tipped
back in chair while above him is pic
ture of George the Third and George
Washington. King George is lat snd
Jolly knight. and he nudges Washington
Familiarity with his lett elbow, evidently
being highly elsted at something. Wash
ington, tall and graceful in figure, looks
toward Jonathan with sd expression so
mournful and pathetic, that ones emo
tionsl nature is moved by single glance
at the cartoon. About the frame OF this
picture are the following extracts from
WAShingtOn's farewell address:
But By vigorous exertions in time OF
peace 10 discharge the debts which una
voidable wars may have OccaSiOned, not
ungenerouSly throwing upon posterity
The burden which We ourselves ought to
bear"
AS very important source OF strength
and security. cherish puOAc credit
I'VE ought to place the public credit
on grounds which cannot be disturbed
and 10 prevent that progressive sccumu-
lation of debt which must ultimately en-
danger sll governments
The public credit is a matter OF high
Importance TO the national honor and
prosperity
The lesson which Mr.. Mast wishes to
impars is obvious. All who have taken
aR interest in the welfare OF this nation,
mourn any action calculated 10 bring Us
financial credit into disgePute, and all
who have predicted the esrIy dissolution
OF our institutions rejoice with those who
grieys.
Nations are simply huge men. Repub-
lies claim peculiar and intimate conuec-
ton between esch individual snd the
emitted whole. What would iniUre the
individual as he stands alcue, will injure
him and al with whom be Is connected
if pursued by the Republic. We are apt
toiorget this unity, in discussing govern
mental afaIrs, and particularly when
upon the subject OF finance.
Let Us impersouaie The government 10
Mr.. Shyloek. and see how il may &C; and
conduct lis Affairs. ShylOck hiss gone
into s general commission business. lie
buys grain and clothing, horses and Tag-
ons; he hires men 10 transport his goods,
and employs steamboats, snd rail cars tor
the same purpose; bis dealings extend,
through many and intricate channels,
over The whole country and into foreign
territory In order 10 conduct this large
business se gives notes, issues l. o. Us.
and IN eases OF great necessity, sells
bonds. secured only by his credit, but
bearing rate OF interest commensurate
with the risk. After some years. his
thrift has placed him above these eXpe-
dents. bis notes fall due, and he wishes
10 curtail bis interest account This IL
terest bill frets and harnesses him, though
be can EASILY meet ii. from his present
income. II he Is sn honest man, he goes
about 70 pay his notes; be asks the hold
ers OF his bonds to accept new obligations
bearing lesser rate Of interest, or scCept
their value in cash. This course secures
for him the confidence OF all, aud when
he is again in trouble he will ind lenders
In abundance. II, on the,other hand, he
begins,to. whine and cry sbou, his interest
bills, plead poverty, and offer bis creditors
eighty or fifty cents upon dollar, he has
lost 81 claim to respect or confidence.
he has failed to meet his obligations, and
must not expect help when be is sgai1
about 10 sink. He has exhibited dis
honest nature which can never be trusted.
The nation must govern itself exactly
a. this man must. if 1t will be respected
and prosperous. IL may ah,gd 3 tempo
rAry relief tor Us 10 pay our obligations
In base metal or baser paper, but the day
OF reckoning will surely come when we
shall be branded as thieves aud dishonest
men; and, should We be so unfortunate
As TO need assistance sgsin. no aid will
be extended to Us. We shall not respect
ourselves. and hence can by no means
make other nations stand in awe OF Us.
We shall be outcasts and the ofscouring
OF the earth if we tail 10 meet 70 the let
ter the demands OF those who aided US
in our extremity.