Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1881-08-05
The President ana the Country.


While we NIL hope for the best in tire
case Of the President, and the earnest de-
sire aud prayer of the people is that he
may speedily and surely recover, the pos
sib,lity of the fatal termination OF his
wound cannot be lost sight Of, and there
are classcs who Use thisccntingency 10 un..
settle business; but upon what ground do
tl,eNs base their conclusions, or, rather,
their speculations?
When Abraham Lincoln was assassina.
ted the country was emerging from the
crisis OF civil war. The rebel armies had
surrendered, but the reconstruction of the
rebellious States remained to be accom-.
plished, There were vast outstanding
claims TO be adjusted, and enormous debts
to tc arranged, The currency was tire.
mendously expanded, the credit of the gov.
ernment was far below par, and gold was
| the barometer that measured the pulse OF
the financial and commercial world. 1t
would not have been surprising, therefore,
If the shock caused by the assassination OF
the President had seriously unsettled the
business OF the country. A large advance
in the premium on geld was predicted up
on the opening of the markets, and busi-
ness men were nervously apprehensive. But
the premium on gold, instead of advancing,
| declined, and from that time the quotations
were steadily downward until ultimately
specie payments were resumed.
| Now the condition OF the country is far
different Iron what it was in 1865. Com
mercially and financially il is in state of
nne nexampled prosperity. The war debt has
been largely paid, and what has not been
paid has virtually been refunded nt low
rates of interest. The credit of the United
States is now fully equal to that of the
most favored Nation. Our currency is
also the best in the world, the paper being
equal to coin, and the former being pre-.
ferrcd TO the latter by the public. In our
relations to foreign countri, $ the balance
of trade Is in our favor. There is no po-
litical excitement or disturbance. There
is no legislation pending to affect either
| the business or politics OF the country.
The President may die, but the govern
ment will live, and he latter is too strong
to be shaken by the death of any one man
or any ten men. 1t is not in the power oil
the President to add one mile 10 or take
one mile away from the railroads OF the
country; nor to change It's industries in.
any shape or form. The President is not
u king who rules people and whose gov
ernment falls with its head. He is the
constitutional head of republic, whose
place is promptly filed the moment it is
vacated, in a constitutional way. Neither
the President, nor the Vice President, if
the former should die, could affect the fin.
ances one way or another; could not affect
the credit of the government, or of individ
| ! L. 81.
to tell why the death OF the President, if it
should occur, ought TO affect the current
OF business. 1t might he used by specula.
tors to influence prices temporarily, but
that is the most that could be made out of
it. There are score of men, the death of
either of whom would affect the New York
financial market far more than the loss OF
the President of the United States, and for
the reason that they are closely and largely
identified with those interests, while the
former has no connection whatever.
1t is to he hoped the country may not be
called upon to lose its President; but even
if it should come to that, the effect upon
business would be only temporary. The
credit of the government is not based upon
the President, but the people. The value
of the bonds, therefore, would not be
changed the currency would maintain its
high character; the supply of coin would
not be diminished; the liarvests would be
none the less or more productive the hum
of industry would continue; the ships
would go up and down in the ocean with
out losing day or an hour; and while
our own people, and the people of
all Nations, would mourn, the
stream OF industry would not cease to roll
forward, and no time would be lost un-
necessarily. Such is life. Prices may be
too high or too low; there may be cause
for expansion or contraction, but the dsatl,
of the President would afford no ground
for specnlations, and those who indulge in
exercises of that kind will make the dis
covery, as did those who anticipated a
great rise in gold when the country
lost its President by the hand Of an as
sassin in 1865.