New-York tribune., 1868-12-31

and tangible results are certainly sound. We
have instead of currency redecmable in specie
at par one which is redeemable in specie at
about Is cents per dollar. We have dis
use of specie, but not suspension OF
payments. The people generally were
never more nearly on q cash basis, never had
fewer long on inflated credits. The only debt
or who has borrowed more than he can pres
emily pay is the Government; and the depre-
catiOn in its credit causes like depreciation
in the currency in which business OF every
kind is transacted But as this depreciation is
now uniform and almost without variation,
stability is in a great degree restored to bus-
ness and however bulliOnists and economists
may argue that we ought not to be prosper
ous, the people have a sort OF stolid talth III
the fact that they are prosperous.
That the country will speedily resume the
use of q currency redeemabe at par, in gold,
for the present deprecated one, we cannot for
moment doubt The question how this
desirable end is to be attained will be settled,
if not by the present, certainly by the next
Congress We do not doubt that the year
1871 will see ten-dolar notes again at par with
eagles.
The past year has seemed rs critical for
England as the years preceding 1860 were III
our own history. But Reform has nobly, beneh-
Gently triumphed there as here. The extension
of the elective franchise effected in 1867, has re-
suted in the separation of the State and
Church in Ireland, to be followed in due course
in the other kingdoms. The political agitation
of the Irish question as the leading problem OF
the British Government, has quoted the efforts
of the Fenians to foment revolution. The
peace thus produced has even more efiectually
ratified the liberal policy of Gladstone and the
democracy of Bright and Mill than the cleo
tions themselves As the enslaved negro elected
Lincoln President, 40 the discontented Irishman
appoints Gladstone Premier; and so the world
learns afresh that more power lies in the cross
than in the scepter
The revolution in Spain, we fear will prove
that rcpublicanism is the nero sentiment, while
monarchy is The ruling power But II 1t end IN
monarchy it will at least be n monarchy based
on an advanced constitution and broad iudi-
yidual liberty.
Russia has found difficulties and depression III
her work of peaceful emancipation nearly as
great a. those which have attended our abolition
of Slavery by war. But there, rs elsewhere, it
will ultimately be found that ambition and IN
terest are tho strongest spurs to industry and
checks upon vice.
France and Prussia are mortgaging their fu-
ture prosperity to secure their present strength
by Amassing enormous standing armies.
France" said n Frcnchman to Bismarck,
"both fears and desires war; Prussia, on
"thc contrary" replied Bismarck. "neither de-
sirc5 nor fears it,"
The year bears with il 10 the tomb many
who 80 ont, like stars in tho heavens, leaving
points whence darkness radatcs; Brougham.
the eloquent defender of Queen Anne, and
Thaddcu, Stevens, the dauntless champion of
the weak aud lmpeacher of the strong, Sir
David Brewster. the venerable pioneer in
science. and Lord Cardigan. Of the famous
"chatso o. the six hundrcd.' While many others
whom ye might nnmc have seemed TO fill large
spheres In life. few have been moro mourncd
or missed in death than our pleasant friend
Ilapine. 40 rarely endowed with wit and
grnms. AIT loses a devoted student and
master in Charles Loring Elliott, and Music
ircmbles moumfully through ali her chords
over the grave of the great Rossni. Thus the
old year sleeps with it, fathers. aud much of
H. ioy aud sadness. ts hopes aud fears, sleeps
with !L-But ont of all this decay there sur
wives Prog1css-for the Race defes death and
advances with steady step through all the
years and centuries.