Year: 1874




the effect Of the Presidents veto of the
Senate finance bill. but seem to have lost
much Of their former interest in 1t, while
the Western papers, and particularly our
country exchanges-the weeklies printed
In remote sections, at county seats far re-
moved from railroad centres and rapid
mail communication-still treat 1t as q
fresh subject Very Unexpectedly to the
advocates of imitation, they show unan-
unity Of sentiment in support of the Presi-
dents position which is not only gratifying
to him, but must serve to sustain the true
friends of the Government in their efforts
to bring about an immediate solution of
our financial difficulties. There are
sections and particular localities in
the West like Chicago. for instance.
a city destroyed by fire and rebuilt
on credit where the personal interests
of political leaders have influenced them to
take a stand in support of the supposed
needs of the borrowing class; but these ex-
ceptions are so few and 80 distinctly marked
as the result of direct influences that they
are not entitled to the slightest consideration
in making up the verdict of the people re-
garding this great question.


The truth is that the President with the
unfailing wisdom which has always illus
trsted his public life, responded to the in.
terests Of the masses when he touched upon
the question of the national credit. 1t was
a touch upon a cord which thrilled the
country from Maine to Texas, and from
Maryland to California, arousing national
sentiment, loyal pride which outweighed
all private considerations, and brought the
people around him as they rallied about the
two contending flags during the late war
In the South, where imitation has been so
thoroughly tried, and where it is held re-
sponsible to great extent for the defeat of
the Confederacy, his simple, straightfor-
ward and unambiguous words reached the
hearts of thousands of his former enemies
as an appeal to their better thoughts, and
as an assurance that under the ''old Gov
ment" to which they have again
sworn allegiance, the follies the stupid
ity and the reckless criminality of the
financial policy of the rebellion will
not be repeated. In the West the idea of
which Is necessarily coupled
with the idea of sustaining the pledges of
the Government to sustain the national |
credit, combined with recollections of ante
bsIIum," wild cat experiences to make
the message the most popular of his public
and official acts since he received the sword |
Of Lee at Appomattox. 1t is true that in
both Of these sections the people need
money, and that they would gratefully &C.
cept "cheap money" as the medium with |
which to relieve themselves of the burden
IF debt entailed upon them by the necessi-
les of developing a new and rehabili-
ating an old country; but there is sufficient
honesty in them, enough loyalty to the
Government to overcome their personal
interests in a general desire to secure
quitable relations, not only between indi-
-iduals, but between the Government and
is creditors.


But there is another point in the veto re-
,arding which but little has been said. 1t
) the bold and manly recommendation that
axation shall be increased for the purpose
f meeting current demands upon the reve-
Iues of the Government No word of OBJ
ection has been raised against it, and we
re therefore justified in the assumption
hat 1t meets with approval. The people
ee and know that Congress is making ex-
efforts in the direction of re-
some of them ill-advised per-
laps, but all of them intended 10 relieve
he taxpayers. They are consequently
Wiling, for the purpose of relieving any
emporary embarrassment of the Treasury,
D submit TO additional taxation. They
eem to treat the Government, in fact, as
hey would an individual debtor whose
require lenient consideration,
nd whose efforts to economize in his ex- !
enses, combined with an honest determi- ,
alton to carefully develop all his re-
ources, give assurance that the lowering
Iouds which shadow the present will soon
lelt away before the sunshine of bright ,
lture.