The Atlantic Monthly, Volume 09, No. 53, March, 1862: A Magazine of Literature, Art, and PoliticsVarious
History
The Atlantic Monthly, Volume 09, No. 53, March, 1862: A Magazine of Literature, Art, and Politics
Various
American periodicals
With such a system, as we have already intimated, there is no limit to
the credit of the Government With an efficient system of taxation to
sustain its loans, the entire property of the country--that is, all that
is needed of it--may be consecrated to the public service. We must not
be terrified by the ghost of the paper-money with which the country was
Hooded daring the Revolutionary War. It became worthless because there
was no limit to its issue and no provision for its redemption or the
payment of Interest. The Congress of the Confederation possessed no
power to lay a tax, and the States which had the power were destitute of
resources, without mutual concert, and often moved by influences at
variance with each other. In this state of things taxation was out of
the question, and the paper-money, which had been manufactured by
wholesale rather than issued on any system of finance, steadily and at
length rapidly sank to its intrinsic worthlessness. Its memory has left
behind a wholesome dread of paper-money, but ought not to create a
prejudice against a well-organized system of credit, sustained by
efficient taxation.
No one will be better pleased than the writer of this article, if,
before it sees the light, the vigorous action of Congress shall render
its suggestions superfluous and unseasonable.
* * * * *
VOYAGE OF THE GOOD SHIP UNION.
'T is midnight: through my troubled dream
Loud wails the tempest's cry;
Before the gale, with tattered sail,
A ship goes plunging by.
What name? Where bound?--The rocks around
Repeat the loud halloo.
--The good ship Union, Southward bound:
God help her and her crew!
And is the old flag flying still
That o'er your fathers flew,
With bands of white and rosy light,
And field of starry blue?
--Ay! look aloft! its folds full oft
Have braved the roaring blast,
And still shall fly when from the sky
This black typhoon has past!
Speak, pilot of the storm-tost bark!
May I thy peril share?
--O landsman, these are fearful seas
The brave alone may dare!
--Nay, ruler of the rebel deep,
What matters wind or wave?
The rocks that wreck your reeling deck
Will leave me nought to save!
O landsman, art thou false or true?
What sign hast thou to show?
--The crimson stains from loyal veins
That hold my heart-blood's flow!
--Enough! what more shall honor claim?
I know the sacred sign;
Above thy head our flag shall spread,
Our ocean path be thine!
The bark sails on; the Pilgrim's Cape
Lies low along her lee,
Whose headland crooks its anchor-flukes
To lock the shore and sea.
No treason here! it cost too dear
To win this barren realm!
And true and free the hands must be
That hold the whaler's helm!
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