Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1879-04-23
THE VERDICT OF CAPITAL.

cent. bonds, says the Washington Post
Of Saturday last, were subscribed for
yesterday. The simple statement OF
this fact is u more effective answer 10
tho silly whine OF revolution" "new
rebellion" and Confederate capture Of
the Capital than all the speeches
that have been or can be made, how
ever able the speakers,
While the Republican leaders are
using every endeavor to startle the
rural masses and shake ihoir hath, not
only in the patriotism of the dominant
party in Congress, but in the per-
petuity 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 will endure.
"Capital is timid." 1t scents dan
ger afar of, and not unirequently mag
nifes danger 1t gets out of the way
in revolutionary periods and takes no
stock in tho bonds Of governments
that are passing through dangerous
crises, except at such ruinous discount
as 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 des-
pcrate tenacity. There were times
during our domestic war when it re-
quired Government promise of s2.75
or more to draw single actual dollar
from It's 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 as good
as gold.
And il is a fact worth remembering
that the premium on gold, represent
ing the doubts of capitalists, did not
disappear until it became morally ccr-
tain that the future of this country
for number OF years would be in the
hands of the Democratic party. While
tho Republicans were charging that
the Democratic party was inspired by
purposes inimical to the interests of
business, and that the election Of Dem
ocrats 10 Congress was menace TO
the stability OF Our Government, the
premium on gold vanished, Capital
gave the lie direct to the calumnies OF
Republican organs and speakers, and
, asserted its confidence IN the Demo
cratic party, the party under whose
guidance and direction the Republic
had enjoyed its greatest measure OF
, prosperity and achieved its most en-
) couraging development.
r Ever since the election OF 1874 gave
notice that the Republican party was
losing tsgrip, and must soon surrender
, its power to the Democracy, the public
: credit has steadily improved. And
during all this time the orators of the
Republican faith have been incessantly
? dinning into the public ear their cry
) Of danger to National finances unless
!; they were permitted to continue in
r charge.
r They have rung the changes, year
, alter year, on "repudiation," "Mexi'
canization" and revolution" but in
. spite of whatever injury to the credit
Q Of the Government their false alarms
0 may have done, that credit has risen
: day by day, until it reaches a point
0 higher than was ever before attained
' at o time when, according to the Re
: publican alarmists, "the Confederates
have captured the Capital" and we
, are rapidly "driiting into anarchy"
|. We repeat, this unprecedented sale
. Of four per cents, at this time, is in,
I dubitable evidence that the most sa
|, gacious business men have unboundcd
2 confidence, not merely in the patriotic
0 purposes of the Democracy, but in
r their ability 50 to discharge their high
0 public duties as to accomplish the
: greatest attainable good for the whole
: country.
: 1t shows that the long-headed, COO
I financiers OF Wall street and Other
Q financial centres believe that the wal
is over that the South has come back
D not only to stay, but to increase the
J, sum total of patriotism and statesman.
: ship, and that we are face TO face with
}. future full Of brightest promise
Q II the organs of the Republican sen
= timent would not sink beneath the
: level Of a robust contempt, il they
J, would not overdo their farce as tC
! make it more disgusting than ludi
= crOus, they will accept the logic of &C.
Q comphshed facts and admit that the
, already decrecd exit Of their party
? from all influence in the control o.
n National affairs is the only act by
? which it will increase public confidence
q in the enduring qualities Of constitu
7 tional government and the advisability
+ of investing in National securities.