Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1881-10-12
Senator MaIlOne's "1Tischiev-
Gus anciai Instruction.

Criticised By a Former Newspaper
ldroeote. - When the Virginia r,pabl.-
cans surrendered in convention Ia G n.
Mahone's readiu.lels the New York
Evening Post, high toned republican
paper, iRdosed the surreu Ter. But the
speech Of Mr.. NJ ,honc before The New
York Union League seems t. have dis
gusted the Post, and 1t odtolially i!us
criticises wi at it terms his mise ievous
financial instru tim:
"As Senator Malone has eco ne
the financial guide ,f the co ored voters
in Virginia, the doctrine he produces
before the members oil the Union Lea
que Club on Tuesday evening deserves
The serious attention cfrepublicans as a
specimen Of his teaching. Hardly any,
thing more mischieYous or misleading
N the way Of financial instruction
could be comnn nicat'd TO the body of
simplc-mh dcd and Ignorant voters than
the assertion that the rate Of interest
paid by a State on lis loans is regulated
by lis resources. Oh, in other words,
that the poorer "a country is the lower
The interest it has to pay, and that,
therefore. il has only TO talk poor to
Justify sealing" aud reputation. 1t
seems hardly possible that Mr.. Malone
does not know that the richer a country
is the higher Its credit-supposiug its
honesty to be uuimpeachable-aud The
better the terms On which it can Dor
row tho.poorer it Is, or prelends toSe,
the higl er the rate of interest it has 10
pay. We are touud 20 presume, w-
ever. that when he said that this had
been the experience Of ENGLAND, France
aud Russia, he was expressing bis hor-
est belief, and that lie really thought
that England. for instance, beng very
rich. paid ten or twelve per cent. on is
debt, while Mexico, being very poor,
pald two or three. But one WHO hVld-
such beliefs is hardly a person whom
Northern business men can afford to
send back 10 Soulicm communities
Endorsed and approved as trustworthy
financial authority. Here At The North
We SHOULD CONSIDER any Sia,e in an
exec, diu.iy BID aoy IN which aiofill
of the voters we're under The control
OF ans BODY holding Mr.. Mahone's
peculiar views Of Size condition Oipublic
credit. We hayo been fighting for If
teen years. and SOME times very hard
to protect Nolthefn States against any
such calamity, although 10 Northern
Sac offers nearly such promising
material to crazy fnasciers as Viz
glala aud other 5 Alhern States do.
We have no right, ihen, 10 le'p to
inf 81 il on au, southern stare. We
cannot n rd am here 10 put up with
or encourage unsoundues- H. finance H.
consideration Of soundaoss in some
thin, else. Fin nce is lie basis o
public morality. Il is the medium
tlrou.h which Safe reveals the pos
session of a conscience. To dihuse
IA " notions Of financial Obligation is to
attack public morality at rs somce.
Gen. Malone owes it. we think, TO hi'
Northern friends. o leave his fnaxtial
baggage at home wh n ie comes tere.
We ale sco Old and have been through
TOO much 10 care for those fairy s;les
os IT,. about ihc coeu'ric- where rlch
p op'e ply igh rates of interest and
the poor loe iate. on accouutof their
poverty and tie orth.,s'nr.s OF lheI
security. lie -.oall reserve these for
tie Vrc'oiau stump"