Why have the United States been paying seven,
eight, ten per cent for money for years past, when the same commodity
can be got elsewhere at half that rate of interest? Why, because though
among the richest proprietors in the world, creditors were not sure of
them. So the States have had to pay eighty millions yearly for the use
of money which would cost other borrowers but thirty. Add up this item
of extra interest alone for a dozen years, and see what a prodigious
penalty the States have been paying for repudiation here and there, for
sharp practice, for doubtful credit. Suppose the peace is kept between
us, the remembrance of this last threat alone will cost the States
millions and millions more. If they must have money, we must have
a greater interest to insure our jeopardized capital. Do American
Companies want to borrow money--as want to borrow they will? Mr. Brown,
show the gentleman that extract from the New York Herald which declares
that the United States will confiscate private property in the event of
a war. As the country newspapers say, "Please, country papers, copy this
paragraph." And, gentlemen in America, when the honor of YOUR nation
is called in question, please to remember that it is the American press
which glories in announcing that you are prepared to be rogues.
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