The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-02-09

500 900 0U0 more OF national bank notes to be
issued to new banks located in the South, where
there are now few or none. Our bonds held in
Europe would be held all the hrmer and at
higher prices If word was flashed along the
cable that the United States, deeming them
selves solvent, had resumed specie payments.
And as the greenbacks would still be a legal
tender no solvent bank need be troubled about
resumption. Every greenback held on the
Pacific slope and in the Rocky Mountains will
be better than gold from the moment that we
resume.
But if we are not to resume, then let us sell
our surplus gold, and thus reduce our debt at
least one hundred million. II we do not mean to
use it, why hoard it? Let us have some good
out of it, one way or another.
The Proposed COmprOmise-The PresI-
dents Position.
From the Times
The compromise plan concocted by Messrs.
Orr, Sharkey, and other Southern Governors,
with the reported concurrence OF the Presi-
dent finds no favor North or South. Tue few
Southern journals that have been heard from
on the subject tall back upon their "honor" as
an obstacle to any concession. 'It is not for
us to make Offers" they say in the language of
the Richmond Wing; and they will hear of none
made in their behalf The Northern Demo-
cratic press, with few exceptions, are silent.
The Union journals, on the contrary, are prompt
and positive in their Judgment. The Spring
field Republican stands alone in wishing "suc.
cess to the new movement" Others recognize
its significance as sign of receding from the
position hitherto obstinatey held by the South
but beyond this, and apart from the Republican,
not single organ OF the Union party has pub
llshed syllable in It's favor. Tney are united
i'll support of the Congressional amendment
entire, as the minimum requirement 20 be en-
forced; and they are equally pronounced IN
their declarations of of pOni1nnpa IN ha
authors of the new scheme.
This view Will certainly not be weakened by
the shape in which the plan has been intro.
duced TO the Senate by Mr.. Dixon. AS origi-
nally published, its first section was an explicit
denial OF the right of State to withdraw from
the Union. This seems to have been too much
Tor the Southern gentlemen who have under
taken to adjust existing differences; they have
evidently considered that the South is not pre-
pared to renounCe its heresy; for the amend
ment, as introduced by Mr.. Dixon, omits the
repudlatlon OF secession altogether, aud merely
declares that 1.-THE Union, under the Constitu-
tiOn, shall be perpetualn Constitutional
amendment is not needed to determine this
The Union armies decided it in their rough but
conclusive way, and the votes of the Southern
Legislatures would not add a particle of
strength to the decision. Not what the propo-
sitiOn atfirms, but what it omits, is in this in
stance, the noticeable point; and we apprehend
that the striking out OF all that was expressive
IN the original wording of the section, will be
considered evidence of the untrustWorthiness OF
the source from which the plan has emanated.
The considerations set forth by Mr.. Dixon
will not help his case. His preamble recites
the nOn-ratihcatlon of the amendment by the
South, and that there is reason to belieye'
that this new plan would fare differently; and
therefore Congress ls asked to accept the sub
stitute. But the argument is defective-the
conclusion unwarantable. The refusal of the
Southern States TO accept terms rendered them
in good spirit and good faith, is assuredly
not reason for admitting them on conditions
they may choose to propose. The converse OF
the proposition would be more nearly correct,
Because The South refuses to give the very
moderate guarantees which have been sub
mitted to IT, therefore the North may properly
insist upon these guarantees, or others OF a
stronger character
This is the light in which the matter is viewed
by the people OF the States composing the Gov
ernment and Mr.. Dixon may spare himself the
trouble OF attempting TO change their determine
tlon. The debatable question Is, whether tbs
plan adopted by Congress shall be adhered tC
and enforced as the tul basis Of adjustment, OF
whether other measures OF a more radical nature
shall be employed TO comrlete the work oil re-
construction, The desire OF the South TO regu
late affairs according to its own taste MAJ
influence Mr.. Dixon, but its only effect apoI
Congress and the people OF the North will be t,
render them more resolute in their demands
Such a determination may seem harsh TO thos
who will suffer from its exercise, but after all
is neither surprising nor inherently unjust.
Tue tact that President johnson has bee
concerned in the preparation OF Mr.. DiXou
substitute renders his position in regard to tn
amendment extremely weak and anomalou
Although untenable, his course has hitherl
been intelligibe. He objected TO the ament
ment on the plea that Congress has no authori
TO exact conditions antecedent to restoration
And he denied the efficacy OF the amendme
under any circumstances, because proposeht
a Congress in which the South is not repr
sented. Now. however, his position is alt
getner altered. As party to the Dixon amen
ment, he comedies the prOprlety and legitlma
OF the action of Congress IN the premlses-y
tuallv admitting pretensions he previously d
puted, and the fitness of policy he oeio
resisted. The adaptation of the amendment
suit the South does not affect the argumel
The principle involved is the same, and
opposition TO the amendment becomes as un
teliigible as 1t is indefensible, when be suslal
Mr. DIxon's compromise
Having in effect abandoned his old poslut
why should Mr. johnson refuse to accept
amendment, and to urge 1t upon the Southe
Gentlemen who take counsel with himf
GREAT difference between the amendment q
fhe nroposed substitute relates to the exclus
of Rebels from office. To the North this
terence is vital: nothing can avert or overco
4 But it has no bearing upon the principle