The Sun.
London, England, 1868-12-22 00:00:00

CONGRESS ON REPUDIATION.

A cable telegram from Washington, on the 4th
December, says :—" The House of Representatives
passed to-day, by 154 votes against 6, a resolution
declaring all forms of repudiation of the national
indebtedness odious to the American people, whose
Representatives will not offer to the national credi-
tors a less amount than the Government has con-
tracted to pay." Although gratifying, this sort of
thing does not satisfy the public. The notion that
the United States will in SDMC shape or another
eventually evade the rigid fulfilment of the contract
ith the bondholders, has been so fostered by the
enemies of the national credit, and is so deeply im-
planted generally, that it cannot be eradicated ex-
cept by strong and direct means. The weight at-
tached to these resolutions is seen in the market
price, which in no degree responds. What does the
House mean by repudiation ? Webster (unabridged)
thus defines repudiate—" To cast off and disavow ;
to have nothing to do with ; to renounce ; to re-
ject." Although the term is, as we have often said
frequently applied, it is never in its strict sense
really meant ; for no one ever supposed that the
United States intended to cast off and disavow all
liability for the money lent the Government to sup-
press the rebellion. Nor do those who have some
knowledge of the subject believe that Americans will
offer to the national creditors a less amount than
the Government has contracted to pay, although
they may hold that greenbacks will be offered
where gold is not specified. The essence of the
subject is, What was it the Government contracted
to pay when they issued Five-twenty Bonds ? It is
possible that the law, if appealed to, will answer,
Greenbacks ! in which case the Representatives will
comply with the resolution, and not offer the credi-
tors a less amount than that for which they are le-
gally liable. If the present House means to interprete
the contract in favour of a gold redemption, then
it ought to say so, for nothing less will now have
any effect. The resolution is, however, valuable
as an index of feeling in the United States, and is
singularly opposed to the statement of that most
unfortunate man who is always predicting and
always wrong, the Philadelphia correspondent of
the London Times. Our readers may remember
that he carefully analayzed the Congress elect, as
he carefully surveyed the field prior to the Presi-
dential Election, concluding in the former case that
by a considerable majority the House would sup-
port greenback redemption, and in the latter case
that the nation would elect SEYMOUR. Now, one
of the first votes taken is given in the above tele-
gram, and though the correspondent would say
that he wrote of the incoming not the outgoing
House, yet a glance at the list we published Dec.
5 of the old and new members will show their
identity ; at least half of the former Representa-
tives being re-elected. These, too, are the best
men ; those of greatest influence, who have deve-
loped the most talents, and possess the highest de-
bating qualifications. It is reasonable to conclude
that the feeling of the incoming House will be
shown pretty distinctly by a body so constituted,
and those who suppose that this vote is only an
expression of opinion of a Parliament at its last
gasp know little of Congress—for in reality it in-
dicates correctly what the 41st Congress will do
when it assembles. Englishmen are under a delu-
sion who think that the Representatives now oc-
cupy a somewhat similar position to that held by
ANDREW JOHNSON. So far they do that the present
House will not outlive his Presidential term, but
it will be succeeded by a Republican Assembly,
composed mainly of the same members, not men
similar to, but the identical persons. if ANDREW
JOIINSON walked out of the back door of the White
House on the 4th of next March, and came in by
the front door, his case would not then greatly
differ ; but as ANDREW JOIINSON disappears into the
backwoods of Tennessee to be lost in a cloud of
obscurity, while many of those who cast their votes
for or against the resolution we now discuss will be
debating measures as national legislators, the case
widely differs. Of course to us this resolution is
gratifying, and we only find fault with it for not
clearly expressing how the payment is to be made ;
setting that question at rest, beyond the power of
the enemies of the nation to cast doubts thereon.
But we cannot expect such a sudden jump, and we
rejoice at the wisdom displayed in thus giving a
slap on the face to detractors, and those, such as the
Philadelphia correspondent of the Times, who have
lost no opportunity of endeavouring to injure the
credit of the United States. While anything
against that credit furnishes a text for a hundred
leading articles in the English Press, uo one adverts
to the resolution telegraphed. But, strange as it
may appear, the men who habitually detract from

everything American, and do all they can against
the weakest point, are American correspondents of
London papers—not Englishmen, but Americans.
The weakest point—the more shame to the United
States —is the national credit. Credit is a weak
point. with all who profess to have any, for it is
easy to shoot shafts over a wall and assert the
hug of the game which no one can see, while
there cannot be attack in reply, and an idle
shot may explode a magazine ; but the point
of the shame is that the United States is plainly t°
the eyes of all the one nation of the world wh°
from a material stand-point is above suspicion °'
being able to meet all liabilities ; yet who has se
played with her great gifts that she stands below
the credit leavel of the South American Republics.
Yesterday, after the above had been written, the
7 imes published an article on this telegram. The
subject would have been difficult to handle by 3
paper less practised in swinging round the circle,
as the resolution is in ludicrous contrast to ths,
statements of the Philadelphia Correspondent al
in its own leaders. The Times asserts that "all
the American correspondence of all the British
press for many months past has been under a vast
common delusion;" but if so, the more credit to
for our readers, at least, know, that that 66 deltl"
sion" found no place in our columns. Indeed,. w°
have done all we could to expose the errors of the
Philadelphia Correspondent, and to show up his Pre'
dictions by bringing them to the test of even'
Often we have been impressed with the conviction,
so contrary to the general sentiment were his views)
that he wrote for the purpose of influencing the
market ; and if we are harsh in even hinting at this,
,
the truth is undeniable that he unscrupulously used
the greatest organ of opinion in the world to di'"
seminate false notions about America. To give an i,11;
stance. When the Erie Directors operated on Go
w'
as elsewhere described in this paper,they sent,the pric°
up at abound, and this happened just after GRANfS
election. Pointed remark was made to the rise in the
correspondent's letter, of the significance of which
he left his readers to judge,insinuating that the ri'e
was wholly owing to the insecurity caused by the
Republican triumphs, while he knew that the elec;
tion of GRANT had strengthened every investrOo
t
in the United States, and had given firmness ,
aithonfgo;
the tone of every market North and South,
the operations of a clique of speculators had/
the moment, deranged values. As we anticipated
the Times takes hold of the ambiguity of the res"°
,
lution, as well as of the fact that the practied
question cannot be dealt with by this House, assert
ing " that whatever this Congress may have to sal o
e:,
it is a declamatory resolution, and nothing 133°rrio
Our readers will see the necessity for the answer the
have already given. There are also remarks in r,
article far from the truth. " All sorts of dePa A
tures from the letter or from the spirit of the bl:;
have been freely ventilated, not only without lo_l3
of credit to the speaker, but even with assert
cal advantage." Now we deny this, and 0
the reverse to have teen the case, of 174'
Mr. PENDLETON is the most conspicuous 00„„ —Peoet
,
who, had it not been for his financial hereetbe
would have been the Presidential Nominee of .
Democratic party. BUTLER passed through 3 rri 0
ing ordeal even to his face of brass on the lot
account, and he would have been defeated had henbi.
been unequalled morally in " pluck," and with
lity which makes him lead wherever thrown.
truth is, although the Times cannot see it—nro
this surprising in writers who do not make Anle4o
a special study—that the leaders of the nation
tb'eit
decided on returning to specie payment, and.,, of
are not such fools as to neglect this opportuDn'e•Trito
strengthening the national credit. Specie parlitia
settle all greenback redemption theories, Put•
(le
such questions out of court, as the plaintiff and,..da
fendant are then agreed. It is, in fact, the 110
solution ; and if some ill-advised men in the VII'
r,
States have used greenbacks as a handle to de.rt' to
ciate the national credit, surely the others ongia„zo
use the intended return to hard money to neutral
the effect.—A nglo-il merican 7 jaws.

CHRISTMAS No VE LTIES . —The novelties reps''
for the festive season by Mr. Rimmel of the Strand
this year the most tasteful and ingenious that have
o
been presented to the public. They take every varfeiJtict,
form, many of them will produce the greatest merrinle'y,
and at the same time add a new pleasure at every lue
party at which they may be introduced. Amongst hrr
will be found bouquets of the most charming descriPti,"o,
each charged with a miniature perfume fountain ; others ;t0
taro surprise fans of great beauty ; and as for the ornauiv, is
for the fitting out Christmas trees they are to be fonu"sro
endless variety. All the characters of the pantouabOttoci
pressed into the service, and here we find Harlequin .0 0
Clown transformed into gardeners, with their 041;
filled with the most delicious perfume. Christmas l'i3uifr
,o,
abound, and as for comic heads,. ladies' cigars, 1:00,
fancy boxes, and baskets they are in endless profus'ro,
The articles for presentation are really superb and °Ooe
priate, and amongst the more valuable is the Inagie,ical
tree, which is, really a splendid present. The ulu:i0o,
scent casket is a very ingenious and elegant conabfo3;upt
and as it can be had for one guinea, its sale will no 13ief
be very large. The perfumed satin glove and handicerely
sachets are of exquisite workmanship, and the deli s'ais,
ornamented fans are equally beautiful. The brillfOteo.
play is open for public inspection, and a greater treatas •
not be given to the young folk home for the holiday's t,11,10
visit to Rimmel's establishment, which, at this part:c.,:oo
season of the year is positively overflowing with ttr
of the most exquisite taste and sweetness. tb°
At a meeting of the Council and Clergy °f 0
London Diocesan Home, held this day (Dee. 2141,04
Willis's Rooms, the Archbishop (elect) of Canterbury oed
presented with two addresses, both beautifully illun°iu and
on vellum, lined and covered with the richest s°' ag•
bound in antique Russia loather, with massive gilt C',Af
The one was lettered, "Address to the Lord nfel3°ll, 00,
London by the Council of the London Diocesan J,11A%3000
The other address was accompanied by a very ban—oty
patent A B C despatch box, in rod Russia leather, °ro of
mented with gold lines, massive gilt handle in centboro
top, surmounted with the monogram A. C.is
the handle the archiepiscopal mitre ; below
„it, oo
raised Gothic letters, " Archbishop of Canterbury eoth
interior is fitted with every dainty device, the instrunior
lock, hinges, &e., being all ablaze with gold. On an cictros
mental gold plate is inscribed—" Presented to his f,oll'
the Archbishop of Canterbury, by the Clergy of the 'itia
don Diocesan Home." Both the illuminating and Wrier°
of the addresses, and the manufacture of the boa'
executed by Messrs. Jenner and Knewstub, of St. JO/-
street. 1)1°
at°
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leo s,