Year: 1866

The proposition now before Congress t0 fund the public debt at all interest of five per cent, will, if that body shall accidentally have the good sense to adopt it, open the door to one of the grandest triumphs this country has ever achieved. It will command the con fdence of the world in our determination and in our ability to pag our debts; and will go far toward revolutionizing the entire system of financial credit throughout christendom. We con pay five per cent. upon this enormous debt, and with wisdom in the management of our national resources, extinguish it. To do so, will place us in the very front rank of the nations, financially, and will go very far to- ward uasettling the system of Illiberal Gov ernmonts throughout the world

 What gives England her strength and DOW CT? It is mainly, that let what will come she pays her debts. Ths,yery fact, or rather the universal confidence in the fact which ex- ists, enables her to pay; for, through her credit, sustained by her industry and the will lingness ofher people to endure any burthen necessary to the maintainanee of her financial honor, she comments the capital of Europe

 Thls country, with all it's vast resources has not been able, hitherto, to compete with Eng land in the credit of the world. Our demo- cratic institutions have seemed to capitalists unstable in their very nature; and when the great Civil War broke out, American securi- ties, of every character, went down, But out of the depths of this great convulsion, the Government of the American Republic emer- ges, stronger than ever The selfish and cold blooded despots who looked on in glee, fur nishing men and munitions to the stron ger side, and words of cheer and praise to the weaker, in the hope that both would be ruined and exhausted, and so the light of our exam pie of free government be extingnished, stand amazed at the stupendous power evoked in the gigantic struggle. They stand aghast at the readiness with which this power only little while ago divided and belligerent, is united in the maintainance of the Republic; and all though some may still entertain hopes based on the crayy ianaticism of this Rump Con- gress, that the Union can never be cordially restored, keen observers note in the oneness of sentiment which animates the more than Q million of soldiers who survive in the two sections, that sure day of restoration when the demagegues will be put down, and the Union, under the guidance of the manly men who fought out war they had little hand in mak ing, be stronger than ever. It is, already, a grand triumph of free democratic government It will be grander still, and without parallel in history, whenthe evil Butchers of discord shall De expelled from the counsels of the na- tion, and the American Republic shall stand before the world in itscolossal majesty, bound together and sustained alone by the good will and affections of it's citizens.

 When that day shall come-and it will come so soon as the people shall arouse to Q full and clear perception of the character of the men who are now striving to keep up sec tional animosity-we shall start on a career ofpsosperity and grandeur such as has never been witnessed under the sun. This eonti- nent will become the financial focus of the worlds industry, and European capital will seek investment, in every conceivable shape, under the guaranty of our tried republican institutions.

 As great step toward the furtherance of these great results, We trust the proposition for funding the public debt at five per cent. may be adopted.--[ Memphis Appeal.