The New York Herald Newspaper, December 19, 1870, Page 6

6 NEW YORK HERALD BROADWAY AND ANN STREET, JAMES GORDON BENNETT, PROPRIETOR. Volume XXXV.. —_—_—_—_—X<—X—«—_—S SSX AMUSEMENTS THIS EVENING, NIBLO'S GARDEN, Broadway.—Tas SPECTACLE OF ur Buack Cxoox. WALLACK'S THEATRE, Broadway ana 18th street.— CoqurrrEs. LINA EDWIN'S THEATR! JACK SHEPPARD, GRAND OPERA HOUS! Lrs BRiGANDs. No. 353 720 Broadway.—Lirrne corner of 8th av. and 93d st.— OLYMPIC THEAT ay. THE PANTOMIME OF Wex Win. W wooD's ner 0th at,—Perform- ances every a FIFTH AY! LONDON AsSURANCE. ‘Twenty-fourth street.— 23. Broadway.—VaRiRty ENTER- TAL BOWERY Tur SuNG Bowery.-Nrek AND NEOK— BOOTHS TE ween th and 6th avs,— Bur Vay W1N MBS FB CONWACS PARK THEATRE, Brooklya,— BROOKLYN ACADEMY OF MUSIC.—UNoLE Tom's Caney, TONY PASTOR'S kA HOUSE, 201 Bowery.—Va- Riniy E. TALNM Broadway. Lack Dwa Domro VocaL- AL, 585 Broadway.— 8, &O. tween 6th TLES, &C. et and Broadway.— BROOKLYN OP. WRLOM, Wurrn's Minster floours & ASSOCIATION 808 Dogenus SOMERVILLE ART GA and Evening —\VONDERS ¢ NEW YORK CIRCUS, Four THE RING, AonowATE, kc NEW YORK MUSEUM OF AN SCIENCE AND ABT. TRIPLE New York, Monday, Lecumber 19, 1870. CONTENTS OF 40-DAY ‘S HERALD. Armies; public— bate ie Luxem- 4 4—h mons: The ¢ Dismal cner on Bulhards ¥ ant Views: t the Lord! faith, Re- Anatomy may prep: ra new We Sambo on the floors of both houses of our national re, and now our red brother “Lo” is preparing to take a seat beside him. At the grand couacil of all the tribes of the Ir y, now in session at Okmulgee, it has been determined to unite together into a confederation, adopt a consti- tution republican in form, and in. dne time apply for admission as one of the States of the Union. This is the true solution of the Indian question, Education and civilization will soon effect what bullets and bayone war have failed to ace of the savages of the TEXAS ocasionally old-time ante-hellm yer recently settled « with a State Senator lawyer then fled, foll e of her f aso a law- little “unpleasantness” by shooting him. The ed by the district judge, ed with the aid of a shot-gun. exploits it is to be sup- posed the er would e been elected to Congress without opposition ; but Texans have become degenerated; contact with Yankees has dispelled that chivalric rit which for- merly animated them, and instead of receiving an ovation, the | killed by a pol be the , in turn, was shot and n. El Paso claims to medern Eden, but evidently such careless use of firearms by the citizens is not conducive to es life. av Last.—The first and best evidence that winter has fairly come at last—apart from blue noses and frozen fingers—is the news from ‘‘ap the Hudson” that this lordly river is with ice above the cily of Hndson, and two steamers— the St. John and the Daniel Drew—were hard aground yesterday. ‘This is very carly in the season for an ice blockade. A month later than this last year the river was open to WINTER blocked Albany and the navigation all right. We have just emerged from a long spell of delightful weather, more like spring than December. The weather, however, has not been very healthy, What nature bestows in one way— and bright skies—she is apt to make t for in liabilities to cold and intermit- tent fever. The celd season, upon the thresh- old of which we are now, may bring us all better health. This is Chrisimas week, The next Sabbath will be a double festival, In view of this fact and the severity of the weather let us think of the poor, who, although they are ‘always with us,” appeal more tenderly to our sympatbies at this holy Qeason than ever, New YORK HEKALD, MUNDAY, DECEMBER 19, 1870.--TRIPLE SHEET. General Grant and His Disappointed Party Leaders. General Grant, one of the most amiable and reasonable of men, singularly dispesed to avoid quarrels and to cultivate peace and harmony with all men, and particularly with the magnates of his party, is threatened with all sorts of disasters by his disappointed party leaders. Universally recognized as the repub- lican candidate for 1872, it would be supposed, according to the elementary principles of com- mon sense, that all the leaders and managers of the party, looking to their own interests, would be harmonious in his support, however discordant among themselves, But the truth is that Tom, Dick and Harry, each for his petty personal disappointments, are resolved upon revenge against Grant and his adminis- tration, and as each of these local leaders has his band of followers, the whole republican camp is becoming demoralized. Senator Fenton, for example, wished to be recognized by General Grant as the Viceroy of the republican party of New York—a sort ef Pacha of Egypt—absolute within _ his jurisdiction, and more an ally than a subordinate of the Sultan. Hence when General Grant nominated ‘‘Honest Tom Murphy” as Collector of this port— an independent sort of republican who had made himself obnoxious to Fentoa—this nomination on the part of Grant was an offence to Fenton which must be punished. How, then, could Grant expect to escape, when, adding insalt to injury, he was charged with the defeat of Fenton’s man, Greeley, in the Republican State Convention for Governor, and with the nomination of Murphy's man, General Woodford? Could Fenton overlook such outrages? No. And so, while in the heat of the battle Greeley went off on a lec- turing tour on farming to Colorado, Fenton, in disgust, went off on a pleasure excursion to California, What were the results? The re- election, first, of Governor Hoffman by thirty thousand majority, and, secondly, an opinion from Fenton that Grant is a failure. Next, take the case of Senator Sumner. Mr. Motley, of Massachusetts, the historian, somewhat roughly treated as our Minister at Vienna by Mr. Seward as the Secretary of State of President Johnson, is appointed Min- ister to England by General Grant. Sumner is delighted at the success of his protégé; but Motley, neglecting his instructions, is recalled, whereupon Sumner becomes indignant, and, as chairman of the Senate Committee of Foreign Relations, seizes his first opportunity to declare war against a favorite project of the Presi- dent, the annexation of the splendid tropical island of St. Domingo, which may be ours for amere bagatelle, but which would be a bar- gain at fifty millions. Of course Sumner agrees with Fenton that Grant is a failure, and that it is necessary to fix things in order to cut loose from his administration, Then we have the case of Carl Schurz. A recent political adventurer and squatter in Missouri, he contrives to be elected as a Ger- man and as a supporter of Grant to the United States Senate. Having secured this position | State, | elements of Missouri all into chaos. . | much for him. he next assumes the right to dispense the patronage of the President throughout the and because the President declines ab- sola! to surrender his authority over these Missouri appointments to Schurz we find Schurz bolting, with other disappointed office- seekers, and turning the unsettled political Substan- y other disappointed and ambitious politi- ta cians had played the same game among the | turbulent and unsettled political elements of rginia, North Carolina and Tennessee, ond with the same results of defeat and disaster to the administration pariy. And yet again, among the disaffected party leaders there is Senator Trumbull, of Mlinois. What private griefs are his we know not; but it is said that he is ready to join a new party om tree trade and civil service reforms, or on anything else, in order to have his satisfaction ainst Grant and his administration. Evi- dently Trumbull thinks his claims as the big man of Illinois have been overlooked, and therefore is he likewise ripe for revolt. The history of the old Jacksonian demo- cratic party and of the old whig party is full of such cases; but a case or iwo on each side will serve to show the mischief which.one of these soured and disappointed party leaders may work ifnot taken in hand in season. Martin Van Buren, as the favorite of Old Hickory, was made the democratic candidate and elected President in 1836. He thought, however, that, although run again in 1840 and defeated, he was still entitled to another term ; and, betrayed, as he held himself to be from the manner in which he was cut out by the two-tl vote of the Democratic Convention of 1844, and provoked beyond all forbearance g ignored by the Convention of 1848, t year as the independent free soil , and thus carrying off half the demo- voles of New York from General Cass, sted Cass, elected General Taylor, and had his revenge. On the whig side, Fillmore, becoming President by the death of Taylor, was ambitious to be President in his own right, and made a very good fight for the whig nomi- nation of 1852, though General Scott was too In 1856, hewever, failing to get the republican nomiaation, Fillmore ran as the candidate ofa third party, and had his satisfaction thereby in the defeat of Fremont. In 1860 the squabble among the democratic leaders, which broke up the party and broaght on the Southern rebellion, never would have happened bad such a man as Jackson held the place of poor old Buchanan in the White House. Now, if history is philosophy teaching by example, we can understand the drift of these disaffections of Fenton, Schurz, Sumner, Trumbull and others, still claiming to be among the lights. of the party of General Grant's administration. These rebellious mevements are aimed at Grant, and, as a third party is the most convenient stepping-stone to (be regnlar opposition party, we have these ef a third party organization. What, is the policy of General Grant as the | recognized head, represe! e and candidate of the republican party? It is clearly the policy of General Jackson, the simple military policy of cutting off all mutineers from the recognition of the administration. From all we can learn this policy has been adopted in the of Schurz; but why not apply the bow ng as well to Fenton and Sumner, ypon the safe old sule that “he who is not hit then, with us is against us?” A political party, after all, is like an army. It must have aa absolute head, and it must have diseipline in all its details and subordination, or it will go to pieces. Down to General Grant's election the republican party, in the absence of disci- pline, has been a unit upon a commen mount idea, which has served all the purposes of organization. Now, thatidea having become a fixed fact, these loose political crusades, 80 potential against slavery and caste, will serve no longer. General Grant, in short, is now required to play the réle of Old Hickory in drilling the republican party from its loose militia system to the discipline of a regular army, And it seems to us that, as General Jackson's military experience made him a political party leader equal to all emergencies, the much larger and more comprehensive military experience of General Grant should be as effective with him in managing the rank and file, conspirators and deserters of the republican party. A scheming traitor inside the party lines can do more mischief than a regiment of declared enemies, General Grant, therefore, as the republican general-in-chief and as the stan- dard-bearer ef the party for the succession, should contrive in some way to get up a Con- gressional caucus on this question of partly discipline, and at this caucus some test should be applied which will solve the problem whether Tom, Dick and Herry are with Grant as the recognized head of the republican camp or are against him, Let General Grant appoint ‘Honest Tom Murphy” to inquire into and report upon the efficient discipline of Tammany Hall, and he will discover that it is substantially the discipline which carried the Army of the Potomae from the Wilderness to Appomattox Court House. Our War News. A curious similarity in statements is pre- sented in our special despatches from Paris and Versailles published this morning, Our correspondent in the besieged city reports that the result of the recent sortie was satis- factory to the French, as it demonstrated the weakness of the German line and their ability to cut their way through at the proper time. Our Versailles correspondent states that the Germans have evaded the truth in their reports of the battles with Ducrot’s army; that not only did the French capture and hold the peninsula, repulsing every attempt made to recever it, but that they would have cut their way entirely through had not . De Paladines been beaten at Orleans. In addition we learn that Paris contains a four months’ supply of food, and that such a thing as surrender is unthought of. Preparations were making for another great sortie, and the French were confident of success. Their field works had been pushed forward with such energy that their artillery and sharpshooters now command roads which were entirely out of range at the beginning of the siege. While this report from Paris is most favor- able to the French, our correspondence from Versailles is somewhat unfavorable to the Germans. Grave fears are expressed that the next sortie will be successful. General Von Moltkg is apprehensive that new armies will be formed in the south of France which will be difficult to get at; and’ he is unwilling to allow Prince Frederick Charles to advance too far from Versailles, There was a great demand among the Germans for the bom- bardment of Paris, and three councils of war had been held to consider the question. Meanwhile Count Bismarck was pressing energetically the political movement for the destruction of the republic. He is said to be anxious for peace and ready to forma coali- tion with Napoleon or any other Power willing and able to make terms, Such, in brief, is the most important war news we have this morning, and which the energy and enterprise of the HrraLp corres- pondents enables us to place before the reader, ‘There are some other despatches mentioning minor operations, such as the occupation of Vendome by the Prus- sians; an announcement from Bordeaux that a plan has been agreed upen for a simultaneous advance of the French armics on the Loire, and a statement that General Chauzy has been heavily rein- forced, But, on the whole, the gist of to- day’s news will be found in our special tele- grams, They puta somewhat different light on the military situation than we have hitherto had. A few more days, or at most weeks, will doubtless decide whether the garrjson of Paris is as strong and the Germans as weak as is represented. The Czar’s Definition of the Luxembourg Question—A Russe-German Entente. Confident of his power, mediatory or in a new war in Europe, the Czar of Russia comes out to expound the situation relative to Luxembourg. His Majesty, as we read in our cable despatch from Berlin, is inclined to be dictatorial. He ventures to say what Holland “must” do, and then proceeds to define what Prussia may accomplish, The King of Hol- land ‘‘must disprove” the charges made against him er “give guarantees” for the main- tenance of his neutral obligations. If, how- ever, the charges alleged against his govera- ment of a permissive violation of his neutral obligations “‘are proven Prussia is justified in annexing the territory.” This is a really start- ling Cabinet ukase. It constitutes an imperial severance of the Gordian—or ‘‘Georgian,” as it has been termed—skein entanglements of Eurepean diplomacy after the old-fashioned routine. It is a first Russo-German slap in the face to Britain—an imperial bull which excommunicates her from the Continent, This Muscovite declaration reveals also, most probably, the first point of action resulting from the completion of an entente between Alexander and Bismarck, by the operation of which the smaller kingdoms of the Old World will gradually disappear and the great allied and consolidated monarchies come to rule from Berlin and St. Petersburg to and in the Hague and Constantinople. Sovurnern CALIFORNIA uae again been dis- graced by the operations of a self-constituted “vigilance committee” who, on Saturday night, | rescued a murderer from the prison in Los An- geles and hanged him. If mob law is to be “the code” of California that State needs re- constructing, and Congress should attend to ber case as soon as Georgia ig disposed of Yeaterdny’s Religious Provender. Pulpit laudations of the Pilgrim Fathers are by no means unknown to the pious where New Englanders meet in prayer. In point of fact it isa part of the religious creed of all good natives of the Eastern States to occasfonally review the history of their forefathers, from the landing at Plymouth Rock to—we must write itin spite of its Irishism—the passage of the reconstruction laws. Yesterday Mr, Merrill Richardson, at the New England Congrega- tional church, delivered a first class puff of his own and his hearers’ Puritan forefathers. In the course of his remarks he alluded to the fact that “by blunder or treachery of the cap- tain they (the Pilgrims) were landed hundreds of miles north, and thus New York escaped being the haven of the Pilgrim Fathers ;” and he immediately added There's a divinity that gaon aod ends, Rough-hew them how we will And a fortunate circumstance it was for the Dutch that the divinity did not shape the ends of the Pilgrims Manhattanward, In another part of the sermon the preacher declared that ‘‘they loved freedom and hated despotism, both in Church and State.” Per- haps they did, but they had a qneer way of showing it to everybody who did not agree with them religiously and politically. Further- more, Mr. Richardson said that ‘‘they lived in peace with other colonies and with the Indian tribes.” If he calls a war of forty years, ending with the extermination of the poor savages, living with them in peace, we cannot conceive what his idea of discord is, The fact is that the unfortunate Indians must have felt like doing towards the Pilgrims as the poet felt when he wrote— If I were a Cassowary Tn the land of Timbuctoo, 1'd eava missionary, Skin aud bones and bymn book too. Apropos of love ot religious liberty, the ser- mon delivered by Rev. Mr. Hugo was a curious illustration of the difference between ‘‘my doxy” and ‘“‘your doxy.” The reverend gen- tleman described in eloquent language the tyranny of the Catholic Church, and wound up with a display of his love of religious freedom by declaring that ‘‘as for himself he challenged the right of a Catholic to be elected to the School Board.” Dr. Bellows was more gene- rous in this regard. He discoursed on the blessings of civil and religious liberty, without making any exceptions. At the Church of the Messiah Mr. Hepworth declared that belief in a Deity was natural to man, whereas atheism was the product of civilization. He thought there was a tinge of atheism in modern science, but he believed it would not outlast the present inquisitive generation. Rev. Mr. Pendleton discoursed on the mystery of god- liness, showing that the divinity of Christ must not be doubted. At the Christian Free church Rev. Mr. Foote enlightened his congregation on the mission of the Saviour, and Rev. Mr. Tracy, at the Church of the Holy Trinity, preached on a similar subject. Mr. Frothingham lauded the Pilgrims, admit- ting that they were not the most tolerant of beings, and alluding to their marrying ‘‘with- out priests.” In the Catholic churches the usual impressive masses were said. Father Preston delivered a lecture on the meaning and power of indulgencies; Father Carney dis- ’ coursed on true contrition, urging his hearers to prepare themselves for Christmas Day; Father Spencer described what true happiness is, and Bishop Loughlin discoursed ably on the duty of parents and children to each other and to God. In Brooklyn Father Beecher appeared in melodrama, with a comic character init. He anatomized repentance so skilfully that the pious who attend Plymouth church shed tears by the gation and lavished smiles by the score—alternately, of course. Dr. McCosh preached eloquently on ‘‘the blood of the Lamb,” and at the other churches the sermons were more or less good. In Jersey City, Washington and elsewhere the religious prov- ender provided for famished souls by the cler- gymen was of the usual kind, and not the less palatable because it was, in most cases, an old dish. Cossack—Has Come @ Looking at the current of events and the signs of the times, it seems that the famous prophetic expression of the great Napoleon, that within fifty years Europe would either be, republican or Cossack, is about to find a solution, though not exactly within the period mentioned, Thongh a little over fifty years since this was said, it is not much over; and now the conflict appears to have commenced in earnest and on the broadest scale. Napoleon the Third un- consciously hastened this struggle between republicanism and Cossack, or military gov- ernment, between the principles of democracy. and monarchical absolutism, The Czar of Russia and the King of Prussia, or rather the Emperor of Germany now, have probably an understanding with each other for reorganiz- ing the political condition of Europe, as well as the territorial map. However liberally dis- posed the present Ozar of Russia may be, or whatever concessions King William may be forced to make to the popular and progressive ideas of the age, both are essentially autocratic, and their views of government rest upon the Cossack or military principle. The divine or anointed rights of monarchy and absolut- ism form the basis of their goverumenis. ‘There are no more determined foes of repub- licanism. King William’s implacable hostility to the French arises as much from this as from the desire of territorial aggrandizement. In- deed, his chief object, we believe, is to crush republicanism in Europe in its birth, and in this he has naturally the sympathy of the crowned heads and aristocracies of Germany, Russia and the rest of Europe. To carry ont Republican or the Issue this purpose he will probably use his power to | squelch the republicans and liberals of Italy, as well as of France. From present appear- ances he is threatening Victor Emmanuel and the liberals of Italy, with a view to restore the temporal power of the Pope, because that rep- resents the principle of absolute authority and divine right. Here we see the tendency to make Europe Cossack. there is tae democratic sentiment permeating among the masses. Even in people begin to aspire to republican liberiy. It is the same to some extent everywhere in | Europe. Self-government and the responsi- bility of those who rule is a principle that the peonle axe learning everywhere, Here, then. is the conflict, The present war orisis is bringing it toa head. In afew years it must be decided whether Europe js to be republican or Cossack, The Luxembourg Question as a Point of British and European Difficulty. By special telegram, dated in London and forwarded through the Atlantic cable last night, we learn that the British people remain deeply agitated on the subject of the minis- terial management of the Luxembourg ques- tion. Premier Bismarck’s exposition of the Prussian position towards the Grand Duchy and Holland is a perfect stumbling block in the path of Mr, Gladstone's progress at Downing street. John Bull can scarcely move. If he becomes active for Holland he will most cer- tainly offend United Germany; if he remains quiescent be acknowledges that Britain is, in reality, not a Continental Power. The tory party of England makes the most of the crisis in a politieal point of view, anda change of ministry is imminent, It is alleged, indeed, by one of the leading newspaper organs of the tories and High Churchmen that the humilia- tion of England is just now complete—a melan- choly work which has been Anised, according to the same authority, periodically at cortain epochs ever since the moment when the Par- liamentary stronghold of toryism was success- fully stormed by the popular declaration of Catholic emancipation in 1829, The Luxem- bourg and Schileswig-Holstein questions re- main as difficulties which, although apparently in petto, may have the effect of lighting a war flame in Europe at an early day. The British tories will most likely oust Gladstone from office on the Luxembourg case. It remains to be seen, however, if strict Brilish toryism in its aristocratic reactionism can stand as a Power before the fraternal influence of Ger- man democracy when directed by the leading mind of the greatest statesman in Europe, acting in complete accordance with the will of sucha bluff old warrior king as is the future Emperor of Germany, ‘ The Late Blasting Disaster. The investigation into the cause of death in the cases of the two unfortunate men who were killed instantly by the late blasting ex- plosion at Carmansville has ended, as too many coroner’s inquests do, with a white- washing verdict. Coroner Rollins assured the jury that the accident was ‘‘one of those of unfortunate and unforeseen occurrences which none but Providence could prevent ;” and so the jury found, of course, But it appears by the testimony of the foreman who was direct- ing the work that the ‘“tamping rod” which was being used to tamp down sand on. the fifty pounds of powder was not tipped with copper, as these tools usually are and always ought to be, to prevent the iron from striking aspark from the rock, The foreman thinks that the reason why this delicate tool em- ployed in such dangerous work was not copper- tipped was because of the expense. Doesn’t it look, then, as if somebody else besides Providence could have prevented the slaughter of these men? Say, for instance, the parsimonious contractor, who for the sake of a little expense permitted the workmen to use a tool which it is now evident was em- ployed in a most dangerous operation. Had the tamping needlé been tipped with copper no spark would have been extracted from the rock, and this murderous business might have been averted. How the fire was communicated to the powder through several feet of sand no one appears to know, but the foreman conjectures that there must have been powder lying loose about the hole. Whose fault was it that the loose powder was there? It is preity clear, taking the evidence in this case allin all, that it will not do for Coroner Rollins to put too much responsibility on Pro- vidence when the accident was manifesily the result of carelessness and ignorance on the part of the coutractor and the foreman, andin a measure on the part of the unfortunate vic- tims themselves. In plain words, the verdict was not a proper one, More Homicides. The police records of every morning fur- nish additional evidence of Recorder Hackett’s wisdom in asking the Legislature that more power should be invested in the judges of our criminal couris to punish homicide with heavier sentences. As the law now stands the judge is restricted toa sentence of two years in the State Prison for shedding human blood where the verdict is manslaughter in the third degree, while in cases of larceny he can send the prisoner up for a term of four years or from that to twenty. The Recorder, in view of the increasing use of the knife and pistol in this community, thinks (and very properly) that human life should be better protected by the enforcement of heavier penalties, The two last cases of probable homicide, reported yesterday morning, are of a very shocking character, and will, probably—if they have not already done so—result in death. One poor wreteh was picked up in the street with fifteen knife wounds on his person. The other victim of brutal violence was knocked on the head with a bottle while engaged in a barroom brawl, and had his skall badly fractured. We say nothing of the minor cases of cutting and maiming coming to the knowledge of the police; but it is noto- rious that their name is Legion. It is evi- dent, then, that the reform which Recorder Hackett recommends has become a necessity, and we hope that the Legislature will attend to it as one of their first acts after the session opens in Janu: Jersky Crry Frvanogs are in a sad muddle. A large amount of taxes due remain uncol- lected, and as a consequence the city credit suffers, the bonds being below par. To make matters worse, the Treasury is empty and the | poration one hundred thousand dollars, refuse On the other hand | Germany the | further accommodations, This state of affairs j has by no means a soothing effect upon the tempers of the City Fathers, whose visions of fat jobs and plethoric purses are thus ruthlessly blasted. At the last mect- ing of the Council two members, irate over the subject, were with dificulty restrained by the chairman from settling the | Sees according to the rules of the prize ring. Jersey politicians have peouliar notioas | of finance and legislation which honest and | peaceably inclined communities will not deem ! advisable to emulate, | | | | banks, which have already advanced the cor- | thing we can say to such inquirers is, as Dr. becoming | -hence with interest at six per cent. Touching the National Debt. Nothing is more important just now than that the Executive and Congress should arrive at clear ideas upon the subject of the discharge of the public debt. It is scarcely too much to say that, protracted as has been the discussion on this subject, it has scarcely yet received what may properly be called scientific treat- ment, and that for a reason in the highest de- gree creditable to the patrietism of American citizens. The civil war was a great surprise, and a vast national debt, as a consequence of it, was another surprise. At all events, it was one of those incidents of Old World calamity and presumable maladministration of affairs for which neither the fathers of the republic nor their immediate descendants were pre- pared. Nothing, therefore, could be mere natural and proper than the impulse of the people to sweep away so offensive a sign of our great public troubles as soon as possible, Another incentive to this action was the natu- ral exasperation of a conspicuously honest and high-feeling public at repudiation doctrines, and the insolence with which certain parties outside the republic have, from time to time, greeted their promulgation as evidences of what thoy would fain believe in—the failure of our institutions to preserve public credit with as much energy as monarchical or aristocratio States, Add to all these causes a generous desire to spare posterity unnecessary burdens, and we can easily understand the policy of payment which has been so gallantly pur- sued, But itis time to consider this question on strictly financial grounds. The republic has given magniticent proof of its willingness to bear public burdens, and shown conclusively thatthe “ignorant impatience of taxation” with which Earopean financiers have occasionally reproached their cilizens has no existence here. There is now no reason whatever why the problem of the wisdom of paying off our debt before maturity should not now be discussed without fear or prejudice. And the broad question which we desire ae raise is this :—Wonether in paying off a -six per cent debt before maturity out of the proceeds of taxation this country is really paying off debt; or whether, as there is much reason to fear, the process, when closely and scientifi- cally scrutinized, is not rather an addition to debt. Let us see how this is. To understand the point aright we must bear in mind what it is that taxation takes from the pockets of the people of acountry. Itis a por- tion of their profits of that fund which they make over and above their expenditures of every kind—of that fund which, in point of fact, they are able to carry over to subsequent account as capital. In this point of view, sup- posing a correct balance sheet were kept be- tween a government and a country, the yearly taxation would always constitute an item in the “capital aceount” between the government andthe country. lt is beyond the power of ingenuity to controvert this, The money taken from the people is, in strict, sound finance, always capital taken from them. Their re- turn for this is that they get government, pub- lic order, administration of the law and the rest of it. But this does not apply to the portion that is taken to pay debt, This por- tion constitutes a capital charge taken to diminish another capital charge. And if the capital taken is more vatuable than the capital sum discharged there is no evading the con- clusion that the transaction is adlosing one to the community which engages in the opera- tion, resulting in an increase, nota decrease, of capital burden. Now apply this to our country, It consti- tutes a vast partnership of forty million peo- ple, who have borrowed for their business—the great business, that is, of keeping up the great firm of the Union as a going concern—so much money, which has to be paid off many years Instead of waiting for the debt to mature the managers of the firm take out of yearly profits a certain sum to pay off the debt before its time, instead of investing it in the regular business of its members. Dropping the metaphor we have this simple truth—the money taken from the people to pay the unmatured debt is worth to them at least ten per cent per annum, and it is taken prematurely to pay off a debt bearing only six per cent, It is impossible to imagine any answer to this, which shows as clearly as possible that in reality this process dimin- ishes the public wealth though it reduces the public debt—nominally reduces it only, while virtually adding to its real effective burden, It will be observed that in this argument we are not suggesting the least in the world the advisability of retaining the public debt asa permanent burden. We are suggesting only thatin paying it off beforé maturity we dimin- ish instead of increase public wealth. And why should we do this? Merely to enable certain 2dministrations to glorify their record 2? ‘That isa very insufficient reason; or, if it bea sufficient one, it has operated long enough. In strict justice it must be admitted that at the close of President Johnsou’s administration it was a sort of political necessity to exhibit the Union to the world as a power which placed political above financial considerations. The money sacrifice hitherto made in redeeming the debt has been worth incurring a3 a mani- festation of the temper of the people and their determination to uphold the State with money as well as their blood. But that stage is past. Nobody doubts the solvency of the repablic, and if we were now to wait until the debt was matured before paying it off the immediate in- crease of prosperity would be something most consolatory and startling. In another twenty. five years, moreover, as has been so often urged, the capacity of the people to pay will be so much increased that a dollar will be a | light a’ burden as twenty-five cents are now. A purblind journal asked the other day how we can know that this would be so, The only Johnson once said to a man, ‘Sir, Iam bound ish you with reason, bat Fam « bound h you with an understand 4.” How ay it? Why, by the ope ation of laws ecks its own level. ud happen in sete aie to "the solar system or the multi- pli on table, or Mrs. Grundy, or any other immortal and secure institution firmly planted in time and eternity. We take it for granted in all our discussion and action that the o is going to exist and grow ; otherv ther no use in talking about such (things at all. ,