The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-06-22

Cahuiuotc III tuc IreslueHtial eiectioh W loAnA-
mating second or third rate military man, or
by taking, by way of compromise, some COM
paratively obscure Senator or other politician,
it will be wofully disappointed; or IT it should
60 before the people with platform based
upon the exploded ideas of the past the party
will be laughed at and defeated. The demo-
Gratis, with all the conservative elements of the
country combined, have as fair a prospect of
electing a President and majority of Con-
gressonal representatives as any party ever
had. The reaction against the radicals has set
in all round; but popular sentiment is sensitive
and at times capricious, and mistake on the
part of the democrats in constructing their
platform and selecting their candidate may
change the current However much the people
may be disguised with radicalism, General
Grant has claims upon popular favor which
might prove formidable should the Democratic
Convention act unwisely.
What, then, are the living issues of the day
and who would be the strongest man for the
democratic or conservative nominee? This is
the whole question in concise form. Slavery
is dead and buried, never to be revived again
by any chance. The extreme States rights
doctrine, as protecting and covering slavery,
which brought on the rebellion, belongs also
to the past and has no application to the pre-
sent or future. Negro suffrage has been con-
ceded everywhere as an element in the govern
mentand the country will never retreat from that
ground, whatever difference of opinion there
may be as to the qualification of voters or the
right Of States to regulate the suffrage. Be-
sides, the fourteenth amendment to the consti-
tuition decides this question of suffrage, leaving
it with the States and regulating the represent
alton in Congress according to the number of
voters admitted by each State. Although Con-
gress may assume to regulate the suffrage under
the reconstruction acts, it cannot set aside the
right belonging to and conceded by this constitu
tional provision. The question ofnegro suffrage,
then, is settled and is no longer living issue.
We say settled, because the constitutional
amendment, though not yet proclaimed, will
become an undoubted fact. These dead issues
about the negro were the capital of the demo-
cratic party in former times, but cannot be
any longer, unless the party should be
so stupid as to attempt the revival of
anything so obsolete and impracticable. The
struggle now is between constitu tional govern
ment and the despotism of Congressional
oligarchy or military rule. We are passing
through remarkable phase in our political
existence, when it is to be decided whether we
shall, after great civil war and revolution,
go back to the constitution and again getunder
its protecting egis, or continue to act outside
are acting. That is the question and issue
politically at the present time.
But there is another mighty question, and
one that comes directly to every mans pocket
the question Of our national finances. Mr..
Pendeton, the prominent Presidential candi-
date of the Western democrats, has attained
| his popularity chiefly and is urged mainly on
his supposed financial views. But he has one
idea only-one that is the sum and substance
of all his speeches and conversations-th
payment of the fve-twenty bonds in
greenbacks as long as greenbacks may
be the currency. He seems to know or
think of nothing else. This, however, is not a
practical question just now. 1t is mere
theory and cannot be an issue for some time
to come As long as we have paper cur
rency the 6ve-twentes will be bought up by
the government at their market value, and
whenever we return to specie payments they
will be paid for in specie at whatever they may
be worth on the market. They have twenty
years to run, and before they become due we
shall in all probability be on specie basis.
At all events, it is question of the future and
has no practical bearing at present Several
Presidential elections will take place and
several administrations will pass away before
this question will come up practically, and
then we suppose Mr.. Chase as well as Mr..
Pendleton, if both be alive would carry out
the law in letter and spirit. We do not under
stand that Mr.. Pendeton is opposed to specie
payments whenever that can be reached with
out injury to the country, and we have no
reason to believe Mr.. Chase would bring a
general revulsion and trouble upon us by
forcing specie payments when the country is
not prepared for such measure. Mr.. Pen
dcton is mere financial theorist, as far as
we know. for he has never been tried but Mr..
Chase has shown his financial ability in
furnishing means on the most unprecedented
scale TO carry on the war; In fact, the
country is as much indebted to him for
, conquering the rebellion, through his skill
in raising the most stupendous sums of
money required, as TO General Grant and all
the other generals, aud, perhaps, more 80.
Have we not reason to believe, then, that
man who could accomplish 80 much in such an
extraordinary crisis is the very statesman we
want to bring us out Of our present financial
difficulties? The negro and negro suffrage, as