Year: 1867

Our readers, We nre sure, will pardon US for
dwelling so frequently and with 80 much perth
naeity upon he subject Of our financial situation
We bave but one object In view, and that 10 the
honor aud credit Of tbo country When the nation
was assailed and the Union put in jeopardy we felt
and, thank God, 80 did the masses Of the IeOple,
there was but one thing that could be done, and
that to do this thing required all the energies,
all the patriotism and all that sclf.sacriAeing
spirit which is demanded Of great and free
people in an hour Of peril. We met the question
and We fought It out on one line uLtil the vie.
tory was achieved, the Union saved. Tho new
dangers which now await US are not Of warlike
character. They are not sectional nor do they
spring from different political visws, but they are
internal, and spring from crude, unsound, and
mischievous notions Of finance.


At the very threshold Of our troubles in this
regard lies the stern and terrible fact that the
people nut submit to a very onerous tax and
pay 1t, or by seeking to rid themselves Of 1t ay
to greater evils which they know not Of There
is In times like these, but very little difficulty
In misleading the people, especially upon quss.
tion SO abstruso as that Of fnance-a subject
that so few people understand, or can under.
stand. That subject about which people grum.
BILE the most, whether they be rich or poor, lie
the matter Of taxation. Propose any measure
that has show of relief and 1t will bo seized
and acted upon with nlacrity. Hence 1t is tina,
all sorts of doctors are now listened to, and all
sorts of nostrums gulphed down, in the firm be,
lief that the remedy is found.


Bu, lot US now look at facts and principles
that are 80 plain that he that runs may read
ct some laws in tho very nature Of things in.
exorablc as fGte-laws that cannot be ignored
With impunity. In prosecuting the war for the
Union we contracted debt Of three thousand
millions in round numbers. Woappsaled to th,
people for material aid, and those who had tn,
money loaned It to the nation upon certain
terms entered into under the solemn sanctions Of
law. The nation obligated itself to pay these
bonds, interest and principal, dollar for dollar,
But now there are people who are insane enough,
wicked enough, or foolish enough-we hardly
know vhich-to propose to shirk this responsi.
bility under one pretext or another, because, as
they declare, our taxes are too enormous to be
borne. And then they tell US that the present
bondholders are a company Of "Solomons" OF
Jews, who have purchased these bonds at grea,
reduction, and that is no good reason for the
nation to keep it's faith with these people. We
can offer them groenbacks for their bonds, and
these may 90 into circulation as currency, and
may be redeemed some time or never. II sucl
proposition is not a cOnsummato swindle, vi
confess to an utter Ignorance Of what does con
stitute q swindc We think 1t would have bee
better that our country should have been broke
up into a half dozen petty republics than tha
its territorial existence should have been main
tainsd as 1t is now, to become so thoroughly ds
moralEed that 1t can cooly repudiats its homes
debts.


Bat some tell US that tho greenbacks are q
good as gold, or that at least they can be mad
80 by law, and that people need not refuse
take them. We can't tax ourselves to pay tn
great debt, and We must get out Of 1t in son
way. We go with him who goes the farthest
reducing the taxes in any legitimate way b.
We 20 not one step with him who advocates II
pudiation directly or indirectly.


Talk of making grecnbacks and of gvir
them certain value. A greenback is pap'
dollar. 1t is promise to paya gold or slv'
dollar. That Is all it is or can bo. Just 80 f
as the Government Issues these paper promis
to pay in excess Of their means to pay or T
deem, just 60 far will they be deprecated
value. II they are to be thrown upon the cOu
try to tho tune Of twenty.eight hundred millio
it need not take long to cipher down their valr
to the little end Of nothing. Anybody, und'
such circumstances, nigh. fill their pockets wi
them. They would indeed bo very pretty pi
lures, but they would not buy bread.


Somebody has called specie, and we thin
there Is no irrevoranco in the remark-"tl
money OF God and the Democracy" The clos
we keep to this idea tho better. That a reaso
able amour. of grecnbncks can be rendered


good as gold no one VIII 'eny Two things a
necessary to ills end and Grt-they must 4
bo issued largely in excess of gold on hand al
tho second IL, tho people must, in their jud
ment, yield consent to the Proposition, and tai
the paper dyI!ar as TIE real representative of Il
golden ma