The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-02-13
AMERICAN vs. FRENCH FINANCIAL
p0lllv

FUllUf,
The whole debt Of 'he United States
'earu but plgmy resemblance 10 that In
iured by France during the late war
nd tho fearful indemnity Of one thou
and millions eKacted by the vic
.orious Pruasans aud promptly paid
by the defeated French, There Is
esson here which, fit were welllearneh
and honestly applied, would get IN out
Of all our troubles, aud restore the
country 10 It's wonted prosperity while"
measure was pending In con-
gress, or an idea Of finance was penetra>
ting the bony brain deiensea OF our
dabblers at Washington,
Our government gives US one kind Of
money for the poor, and another for tho
rich. The line between their intereAla
10 clearly drawn, and the breach between
Is carefully widonsd by every known
expedient, The non bondholders OF the
United States are vastly In the majority
and on ~ being u government OF major
tiles tho folly Of such course Ia apparent
upon reflection, National credit and
future advantage are glilterng poaN
eibilitiea 10 the man whom the
interest, In gold on hia bonds
N sufficient 10 furnish IN ample
revenue, but 10 him who contomplatea
them from tho ditch or from tho novels
of poverty 10 tho music OF thu orles OF
hla distressed children for bread, even
John sherman must acknowledge, mat
patriotic devotion totho interests OF the
bondholdcr aud the unmpaircd nations
NJ faith, il next 10 impossible,
Tho government Of France Is wiser
than ours, They placed their debt
among her own people, When loan
was necessary 10 meet the first install
menL of tho enormous indemnity, she
called in her securities, issued her bonds
In denominations of $50, and asked her
poor, tho men who had bravoly but in
ollectually fronted the foo on the field
of battle, TO loan her an hundred francs
TO purchase that immunity from his
hated presence which arms Ind failed to
secure. The loan was promptly placed,
not only that, but tho difficulty was TO
mako fair distribution Of it, 70 that all
who applied for the rentcs could be ac'
commodated. The bone and 'sinew
of France hold her evidences
of indebtedness, and the careful
motberland honestly pays the
interest TO her trusting children, Here
the exact reverse Ia true The bonds
arc issued in such denominations do.
signedly az that none but the rich Gan
invest in tho securities of the govern.
ment, and the consequence is that they
alone can keep up the standard, and
tho poor look only to reputation for
relief. This species Of coarse Iavorit'
ism and destructive distinction, the
policy of Wall street, is working out it's
own fearful results, slowly distressingN
ly, surely,
The productive possibilities of France
bear no sort of comparison with
those OF this country. AS yet we
produce the simple necessities Of life
with better margins of profit than she
does only tho superiluities Our pros
auctions force market while she must
court one for hers and this at time
Of general distress, war and distrust,
indicates the better policy pursued by
her government, and the broader grasp
Of her craftsmanship. Notwithstand.
ing the tremendous mistakes and
terrible faults of her rulers,
the patriotism of the masses of
FIenchmen 10 kept alive by this
thoughtful and intelligent care of their
interests, and notwithstanding her
countless revolutions and coups detat
notwithstanding the Prussian eagles
lately glanced through the streets of
her capital, and showed their presence
in nearly every city and every depart
ment Of her wide domain, yet she
stands to-day the peer of Prussia, by
reason of the devoted patriotism of
her common people, and the enlighten>
ed craftsmanship of those to whom she,
in that dark hour of her defeat, com,
mitted her destinies.
Let our government call in her bonds
and replace them by another set, in
such denominations as the people can
take them, and ask the farmers,
mechanics and traders of the union to
share in her risks--as well as profits,
and very soon Reputation will become
only an ugly dream Of the past, and
distress be driven from the land.