Centre Democrat. [volume] (Bellefonte, Pa.) 1848-1989, 1879-04-10
The Verdict OF Capital.

this fact is n more effective answer 10
the silly whine of revolution" new
rebellion" and Confederate capture
of the Capitol" than all the speeches
that have been or can be made, how
ever able the speakers.
While the republican leaders are
using every cndeavor to startle the
rural masses and shake their faith,
not only in the patriotism of the dom
inant party in congress, but in the
pcrpetuity of the Union, the solid men
of the great cities are giving the high
est possible proof of their firm conf
dence in congress, and their abiding
faith that the Union will endure.
Capital is timid." 1t scents dan
ger atar of, and not unfrequently
magnifes danger. 1t gets out of the
way in revolutionary periods and takes
no stock in the bonds of governments
that are passing through dangerous
crises, except at such ruinous discount
rs was paid by this Government dur
ing the war.
In periods of alarm capitalists con-
vert their paper of all sorts into gold
or real estate, and cling to it with
desperate tcnacity. There were times
during our domestic war when it re-
quircd Government promise of s2.7j
or more to draw single actual dollar
from its hiding place. And it took
almost ten years of peace to convince
the holders of real money that the
danger was past, and that the prom
ises of this Government were a. good
as gold.
And it is fact worth remembering
that the premium on gold, represent.
ing the doubts of capitalists, did not
disappear until it became morally Ger.
tain that the future of this country for
number of years would be in the
hands Of the democratic party. While
the republicans were charging that the
democratic party was inspired by pur.
poses inimical to the interests of busi.
ness, aud that the election of demo.
crats to Congress WAS menace 10 the
stability of our Government, the pre-.
MUM on gold vanished. Capital gave
the lie direct to the calumnies of re-
publican organs and speakers, and rs.
serted its confidence in the democratic
party, the party under whose guidance
and direction the Republic bad enjoy
ed its greatest measure of prosperity
and achieved its most encouraging de.
velopment.
Ever since the election Of 1874 gave
notice that the republican party was
losing its grip, and must soon surrcnd-
er its power to the democracy, the pub.
lie credit has steadily improved. And
during all this time the orators of the
republican faith have been inccSSan;lv
dinning into the public ear their cry
Of danger to National finances unless
they were permitted to continue in
charge.
They have rung the changes, year
after year, on Reputation" "Mcxi-
canization" and revolution" but in
spite Of whatever injury to the credit
of the Government their false alarms
may have done, that credit has risen
day by day, until it reaches point
higher than was ever before attained
at time when, according to the re.
publican alarmists, "the Confederates
have captured the Capitol" and we
are rapidly drifting into anarchy"
We repeat, this unprecedented sale
of four per cents, at this time, is indu.
bitable evidence that the most sagaci.
Gus business men have unbounded con.
fidence, not merely in the patriot;c
purposes of the democracy, but in their
ability so to discharge their high pub.
lie duties as to accomplish the greatest
attainable good for the whole country.
1t shows that the long-headed, cool
financiers of Wall street and other
financial centres believe that the war
is over; that the South has come back
not only to stay, but to increase the