The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1878-09-07
THE "GREENBACK" MOVEMENT,


name, once furnished can never he re-
stored 10 it. And while il is true tina.
man may in some degree, bv n life of
atonement, regain a good name lost 10
him by one act Of dishonor, vet in the
case Of either 4 man or nation the
experiment is Ii dangerous one. and
more Is lost than can ever possibly he
reganed Ii is now about forty wears
since the State of Mississippi hazardcd
the act of financial suicide, and repudi-
atcd her State obligations. and twenty
five Years later. when the Southern Con-
tedcracy sent its agents abroad to Dor
row money TO maintain q war against
our Government, the fact that JeiTer-
son Davis himself was Mississippian
proved a great hindrancc to their iinan-
cial projects abroad 1t is now an open
secret, that if ever the late Confederate
States get control of the United States
Government, they mean to rcpudiatc
our war debt or, if that should prove
impracticahle, to make the country pay
in full the war debt of the Confedcracv.
And vet we have Il large and growing
party in the Middle, Western and North
ern States that favors National repu-
diation in effect, though not openly
They demand that the bonded National
debt, which l. redeemablc only in gold.
shall he paid in greenbacks. This is
Just as plain step towards reputation
and National dishonor as though the
proposition were never TO paw the Ma
tiOnal debt. Commenting on the plans
and purposes of the Greenbackers. "
the Boston d" Journal F" iittinglv saws:
No greater calamity can bciall
nation than 10 have it understood that
its rulers have violated faith with its
creditors. From the dav such stigma
! Is attached To the name of nation its
I progress is downward and lis ruin is
assured National credit blasted. the
/ people of that di>graccd country lose
standing in the markets of the world
/ Individual credit and influence suffer,
/ and its trade and commerce decline
| This is the course toward which the
+ Democratic party is leading. Even in
Maine. il Is a notable fact that no speaker
and but few journals, of that party dare
/ To maintain that the bonds are PAYABLE
in gold. They are too much afraid Of
/ the grecnback movement To stand up
for National honor they are ready to
/ sacrifice that honor for anything like a
fair chance To secure power and place
| IN the State Government. Thousands
Of men who temporarily left that party
/ during the war, because they were pa
! trI"ts rather than partisans, have re-
/ turned 10 its ranks, believing that It's
! leaders had outgrown and rrpcntcd
their great folly. Thousands have been
led recently to join that organization.
because they have been led to believe
/ that lis Statesmen would give the couu-
/ try purcr and more efficient adminiStra-
ton. What must these men think now
/ when they see the same leaders. who
denounced the Lincoln administration,
practically declaring for population
! of the National debt and lending their
! aid TO movement which. if successful.
would make the name of the United
States a rcproach among all civilized
nations :"
Why is it that the credit of France
stands so high to-day, in spite of her
sullerings through war aud her cnor-
nous public debt! 1t is because her
Government. whether monarchcal or
republican, whether in foreign war, in
tcrnal revolution or profound peace,
never allowed the question of financial
faith to be raised because the holder
OF French bond knows that it will he
paid at maturity, according to its terms.
This high degree of National honor cy-
! plains why the people came forward.
not only cheertuIly, but with alacritv,
and took up the tremendous sum re-
quired to pay the German indemnity.
This dependence upon its plightcd faith
makes France to-day, in spite of her
| gigantic debt, one Of the most prosper
Gus and contenied nations in the world
In her fierce struggle with Germany
she lost provinces; but she suffered no
blot either upon her valor or honesty.
As a nation we may have lost the
Southern States, and been compelled to
acknowledge their independence. and
still we might have survived with the
sympathy and respect of all honorable
| Governments. But dozen coniedcra-
cles retained by war would not compen-
safe Us for the loss of National stand
Ing, the necessary result of the rcpu-
diati"n of single dollar Of National
| Indebtedness. But the men now en-
gagged in the greenback movement are
/ undermining that honor, and however
firm they NAV he in the belief that their
course is just and right, vet they are
far more dangerous to our present and
future prosperity as a nation than ever
were the armies of Lee and Johnston
in the field