National Republican., 1880-09-06
TnE TREASURY UNDER HANCOCK.

THE TREASURY UNDER HANCOCK.
In considering the possible gains to the
country which may come from change in
the administration from republican to
democratic, from HAYES TO HANCOCK, from
JOHN SHEIpAN to the eminent confederate
who will claim the treasury portfolio by
virtue of the 13S solid votes from the united
south, We must not forget the wealth of
financial wisdom which the new regime will
possess and which viii crowd itself inevitn-
bly, to the front and exercise its proper in.
fluence upon the policy OF the new admins.
tration, if Heaven kindly vouchsafes us one
IN the person of HANCOCK.
The election ofHANCoCK would, ofcourse,
be a condemnation of SHERMAN's financial
policy. All his theories are pronounced
false; all his acts are declared pernicious; all
his experiments are regarded as failures
If HANCOCK should be elected n change
would be inevitable, because of the want
of faith in sHERMAN's system; because of
the promise 10 relieve the country from
the burdens IFS trial has imposed. We are
to have something new in the financial line;
some improvement corresponding with the
promise held out, and commensurate with
the dillerence-thc immense difference be-
tween the bungler SHERMAN and the coming
secretary of the treasury, who will be a
man of perfected financial ideas, rs far adj
vanced in his special branch rs HANCOCK
himself is beyond the range of ordinary
craftsmanship This is the expectation; this
is the grand climax which we are to reach
This great financier is already born and lies
hid somewhere within the extensive bull
rushes Of the great democratic swamp
HANCOCK, with the magnificent field glass
that adorns all of his gorgeous pictures is
on the lookout for him. and W i'll find him
without doubt. Should he turn TO New
England the most prominent object that
would strike his financial line of vision
would be BEN BUTLER, who holds to fiat
money; but BUTLER has declined in ad,
vance, so it viii not be BENJANfIN Look
ing west EWING might be espied; but h,
hardly meets al the requirements of th
situation, and is not fully assured in hi
own mind that his theories are good 70
much save as clectionoering material, nnt
not absolutely first rate even for that. TIL,
middle states contain BAYARD, but IN
would be merely n continuation Of Jon,
SHERMAN; welded to the same follies, giyel
over TO the same delusions. Tho fnancie
ofthe future must come, therefore from tn,
south This will be necessary in order Il
satisfy the holders of the largest class O
claims, the possessors of the largest numbe
of electoral votes, and because the olhe
sections, unhappily, do not have man VIII
can fill the bill. The south has such q man
and his name is DAVIS. He is the geniu
of finance made perfect by experience
No man ever had harder problem thai
DAVIS in the management Of confederat
finances, and when we return TO coniederat
rule there is no reason why we should no
avail ourselves of the highest CONFIDENT
wisdom. To this there can be no objection
The theory of BEN BUTLER that all yol
need to do when money is scarce and fund
are needed is to issue more, is both simpl
and fascinating. Great as JEFF DAVIS is
it for time took such strong hold of hi
powerful intellect that he tried il on th
desperate fortunes of the cOnfederaey. III
found q weak spot in it-one he could no
get over and only one. But for the ON
weak place BEN's theory would be perfect
The weakness is that fat money will ge
excessive in amount In spite of laws con
stitutions orders Of the president treasur,
circulars and scarcity of paper, moro none,
Of the fiat kind got aloat than the demand
of business required, and it deprecated
smashed business brought distress on tn
people and imperilod the great cause. Il
this alarming condition of things the geniu
of DAVIS came TO the rescue, aud in hi
message to the confederate congress, secont
session Of 1868, he promulgated the ellicien
and adequate remedy Weare strucl, will
admiration at the resources of the might,
mind which saw what no other man eve
before had imagined. BUTLER is great, bu
he never saw what DAVIS did. SAM CAR,
is great, but he missed it, EWING ontrel,
stumbled over it; and yet it is simple-jus
assimple as hemakug anegg stand on en-
when Columbus comes to the demonstrn
tion. JEFF said in effect, tax the deme
stuff Ifyou put q good healthy tax 0
the currency, the people who have sulplu
will be glad TO exchange it for commoditie
and then the confederate government ca
seize the commodities This was ingeniou
and worthy Of JEFF It stamps him as tn
man HANCOCK needs. BY taxation th
over issue Of fiat money, otherwise una
voidable, is absolutely prevented and tb
only objection to it is done away with.
kfo also ascertained that if the tax wa
large enough TO reduce the surplus to tn
wants of trade the balance left in the hand
of tho holders would appreciate so that
would buy as many commodities as III