The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-04-25

ment securities were firm. Gold closed at 1891.
The Democracy md the Presidoncy-The
Time for Action and the Man for the Time.
Show was it." we have been asked, ''that
Mr.. Belmont and his National Committee were
Influenced to put off the National Democratic
Convention till the 4th of July?" We pre-
sumo that among the ideas thus influencing
the committee were these THAT the party
was too much broken up, East and West, on
candidates and principles to act tremendously
if called earlier together than july that in
the meantime some breaks, defections and
weak places might be developed in the radical
lines on Southern reconstruction, negro suf-
frage and Andy Johnson which would enable
the democracy to flank them or divide them.
Similar considerations, however, caused the
| postponement of the Democratic Convention
of 1864 to the last of August but the waiting
on that occasion 'for something to turn up
only contributed to swell the vote of Abraham
Lincoln. With Sherman apparently checked
at Atlanta, with Grant apparently bafHed in
front of Petersburg, and with the authorities
at Washington still shaking in their shoes over
the July visit of the rebel General Fairly to
the very gates of the city, the Democratic
Convention on the LIST of September came to
the damaging conclusion that the war was ga
failure"
All that they gained, then, by waiting in
1864 for some developments Of the war upon
which they might clearly define their position
was disastrous democratic defeat-a defeat
to which we may trace the more than two
thirds vote Of the radicals in each house of
Congress to-day. 1t is remarkable fact, too,
that Mr. Belmont and his committee, sitting in
Washington, did on the 22d day of February
last appoint the 4th Of July for their National
Convention, when, on the 2lst Of February,
| President Johnson had committed the overt act
| of StantOn's removal--an act which, from the
instant it became publicly known, foreshadowed
complete change in the political situation
within very short time. On the 22d Wash
ington in all its political circles was so deeply
agitated by this Executive coup detat that it
is surprising it made no visible impression upon
Mr.. Belmont or his committee. They evidently
considered this second fare-up with Stanton
bagatelle, and Mr.. johnson himself as no
longer worthy moments attention in their
estimates of democratic chances. Had Mr..
Belmont been as shrewd in detecting coming
change in the political bourse as in the money
| market, he would never, under the facts de-
tailed, have thought Of putting of his National
Convention till the 4th Of July. He was too
cautious in his game of avoiding an entanglng
alliance with johnson, and 80 he missed his
opportunity for taking time by the forelock.
But the mistake thus committed may yet be
repaired. Mr.. Belmont, to repair, it has only
to call his committee together and appoint an
earlier day for his National Convention than
the 4th of July. On the day of or the day after
Johnson's removal let him (Mr. B. issue his
rescript for an immediate council of his com
mittee, and let them call to all the con-
servative elements Of the country to hurry up
their National Convention close upon the heels
of the republicans, and there will be such u
shaking among the dry bones of radicalism n:
will be felt in the Office seekers festival al
Washington. II will be an attack upon the hanl
of the enemy while changing his base, ant
if properly followed up it may 80 far demoral-
ize him as to scatter his broken columns into q
Bull Run stampede. AS in army movements
and financial operations, the right time il
often so clearly pointed out for a decisiv,
stroke in politics that only the most stpi'
leaders can fail to discern It, Nor can anything
be clearer to the discerning politician than tina
the time is at hand for combined aggressive
movement of all the opposition forces agains
the party in power Why they should remain
inactive until the enemys lines are full.
reorganized and in battle array we cannot tell
unless the object of Mr.. Belmont is TO let thu
battle 20 by default and retreat in good order
The time for action Is an important thing
necessity. The man who overshadows al
J other men among the democratic probabilitie
is Mr. Pendleton, Of Ohio. His programme
! they tell us, of greenbacks for the bondh0lders
Il and new and large infusion of greenback
a into the general circulation of the country, i
carrying everything before IL in the West
q But does any one suppose that II such is III
: fact this radical Congress will not meet thi
a popular demand with shower of greenback
and national bank paper sufficient to silenc
: this Western clamorp OF course this thin
i will be done Where, then, will be- this hobb
: of Mr.. Pendleton? II will be upset and de
d molished, and his stock in trade will be con
/ fscated. In view of this emergency who ca
=. take the place Of Pendleton? Cauvassne tn
il leading politicians Of the democratic camps
<. there is not q man among them equal TO III
'e crisis They are all like bad butter, taintc
y more or less with garlic or copper, o
in something of the Chicago peace patforr
g and tho peace party of the war;
VI will be the height of absurdity TO set up m