The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-02-13
HONESTY THE BEST POLICY.


The democratic party is pledged, if it be
possible, to reveal radical dishonesty, punish
radical thieves. and bring in an era of hon.
esty. The Philadelphia Times remarks that
1.-The most discouraging accompaniment of
the depression of industry and financial
'embarrassments that prevail throughout
the country at present is the manifest de-
cline of honesty in public sentiment"
We are not in sympathy with the declara-
ton of the Times to the extent that it is
intended to indicate. On the contrary, we
believe the American people as people are
absolutely honest; that they are anxious to
pay their honest debts; that they
are not disposed to violate con-
tracts honorably entered into; in a
word, that they are not regulators
in any criminal sense OF the term. But it
so happens that the financial legislation Of
the country for years past has not only
directly antagonized the accumulation of
wealth, but has had the effect to bankrupt
thousands and tens of thousands of men
who were engaged in legitimate business
poverty and crime, and has reduced the
value of property of the country more than
IS, 600 O00, 600. With such disasters, with such
humiliation of property, with such wide
spread ruin, the question has not been one
of a desire to pay, but of ability to
pay, and now when the people
demand change of policy to enable them
to rebuild their fortunes that they may be
able to pay their debts private and public
we see the Shylock organs all over the
country demanding that measures of relief
shall not become laws, and that the cruel
curses of contraction, shrinkage, bankruptcy,
idleness and ruin shall go forward. The
measures now pending in the United States
senate have but the one purpose, that of re
viying business to hush the clang of the
sherifFs hammer, to make business funerals
less frequent, to set idle hands
to work, to give bread to the starving and
shelter to the homeless. They are statesman
like in policy, benevolent in purpose and
constitutional in all regards. Still the Phil
adelphia Times opposes them, and says:
The demon of reputation stalks through
the land with the power of the traditional
evil one TO assume any shape, any Vlsage. falr
or foul, that may be ueceSSary TO accomplish
its purpose. Here it seeks TO pay debt in
deprecated currency; three millions of just
Liabilities are swept out of existence by pop
Mar vote: now IL disc TnS q solemn obligation
on the plea that it was not fairly contracted,
although state has long acknowledged its
validity and Teaped the benefit, and again it
packs the courts TO obtain false Judgment.
tinid was borrowed and il is proposed to pay
silver green backs a debt was cOmprO-
missed few years ago on the debtors plea of
pOVerty and now II Is proposed 10 force an-
other compromise at the muzzle of the legisa-
tiv pistol. Adjustment Is TO be followed by
readjustment; funding by refunding; scaling
bv rascaling: abatement of interest by Oblitera-
ton OF interest. The debtor alone is to be con.
sidered; ii he does not Ike the terms of settle
ment he may take crust and curse and
clear out. This is all wrong.
In all of this we see no mention of the fact
that the original contract with the bond
holders to pay in legal tender currency was
abrogated for the benefit OF the bondholder
and in direct conflict with the welfare of the
people. The bondholder is eulOglzed, while
the poor trusting and swindled debtor is
mathematical. The demon OF repudiatiOn"
was preceded in his march through the land
by the demons of fraud and villainy of the
most repulsive and heartless character They
robbed the people of their substance, re
duced them to beggary and forced them into
bankruptcy. 1t has not been reputation,
but absolute inability to pay either principle
or interest Industries have been hushed,
machinery silenced and stately fortunes
have been shaken down by the business
earthquake that commenced with contrac-
ton, and the cursed work is still going for
ward. Mortgages are being foreclosed, the
courts are overrun with suits, farms are
changing hands, homes are being made
desolate, interest is accommodating and
the Shylocks are making money.
Every effort made to restore business
equilibrium is opposed by the
gold bugs, the money sharks and the sub
sidized organs, and to justify their opposition
they charge the people with dishonesty.
The people have been denounced and
swindled quite long enough. This is their
country and their government, and thank
God they are sovereign still. They have
the ballot and can control public
affairs. They are now seeking a way
out of their business embarrassments and
financial troubles. They are in no mood
to listen tc TRADES of denunciation, nor
will they deviate from policy that is
every day becoming more clearly defined.
The Shylocks can not resist successfully the
drift of events. AS well mighta sparrow hope
to make Roadway against tornado, or a
child be expected to paddle canoe against
the surging current of Niagara. 1t is a bald
SANDER to denounce the American people a:
regulators. They are honest, and are now
struggling for an honest administration o.
the fiscal affairs of the country.