The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1869-11-19
WASHINGTON CORREsPONDENCE
WASHINGTON, Nov. 10, 1869.


The days Of the Wall street gold gamblers
are over, and fortunes will no more be made
and lost upon the fluctuations in gold. The re-
cent explosion Of the gold scheme in New York
has taught the financial men Of the country q
lesson which otherwise il might have taken
years to learn. The policy inaugurated by the
Secretary Of the Treasury Is steadily, and, 1
may say, rapidly gaining friends. There was
no more sure evidence Of the wisdom Of the
policy Of Mr.. Boutwell,, in selling gold and pur-
chasing bonds, than the fact that the gold brok-
ers were opposed to 1t, and upon the inaugura-
ton Of thar policy combinations were formed to
break Il down by endeavoring to keep gold up,
which eliminated ut last in the victory won by
the Secretary Of the Treasury, in the recent
gold collapse In Wall street. Since that, gold
has fallen steadily until II is down to Sl.25} to-
day. II is now rumorcd that the Secretary pro-
poses to return as speedily as possible to specie
payment, and January next is the time designa-
ted. am somewhat doubtful whether II can be
done in the time given; but that We shall return
to specie payment in the course Of ayear or
two at the outset, have no doubt. It can DO
done easily by the LIST Of July next. The ac-
ton Of the Secretary may be stimulated some
what, from the fact that the Supreme Court has
now reserved decision, in relation to the
Constitutionality Of the legsl-tender act, and no
one doubts what the decision will be.
The act was war measure, and under such
circumstances was right and would have been
sustained, but in time Of peace, such as we
enjoy today, il would be p'onounced by the
Court unconstitutional. II was proud day
for our country, when those engaged in war
ring against our government laid down their
arms, conjurcd by the hosts Of freedom 1t will
be no less 50, when once again full financial
victory is achieved and our nation resumes once
more its original condition. The preliminary
battles. think. have already been fought, and
the back bone Of the gold beard brokers, In the
recent triumph Of the government in Wall
street. II only remains now for Mr.. Boutwell,
to take advantage Of the position, and by the
first Of July next, the United States Treasury
may commence TO pay out its geld. II remains
to be seen whether this talk Of returning to
specie payment Is q mere idle rumor but for
myself, have the greatest confidence in the
statments m,de. II was rumored some time
since that Senator Sprague was negotiating for
the "National lntellcgenccr" the Democratic
organ Of this District. Soon after that report,
the publication Of the paper was suspended, but
recently ii has been consolidated with the
"Evening Express" and issued as q morning
paper. II is confidently asserted by those who
ought to know, that Senator Sprague has pur-
chased this paper, and viii engage some one, Of
acknowledged ability. to take charge OF 1t.
There is no doubt but what Chief Justice Chase
Is interested in this movement, among Democra-
tic politicians there seems TO be, general be
lief, that II Mr. Chase had received the nomina-
ton for the Presidency, at the Democratic Con-
vention held in New York, he would have been
elected. The grand idea seems to be, to have
some organ at the National Capital to take the
lead In new party movement, which will at
the proper time present to the country, Chief
Justice Chase for the Presidency in 1872.
jerks civil service bill is now being discussed
very extensively throughout the country.
Whilst there arc some features that are certainly
wise and judicious, yet at the same time II has
been the adopted motto Of the parties. that to
the "victor belong the spoils," and whilst TO
those in Office il may seem quite appropriate to
legislate, 30 that they may be secure, yet, the
question comes, what will the coming admins
tration think Of il. The legislation TO change
tenure Of Office bill. was to enable the President
to surround himself with officers favorable to
the administration, and in harmony with his
own views, and il should be no less the privilege
Of the Secretary Of the Treasury to have men
who accord with his views. that the department
may be conducted tremendously therefore, l
believe that any legislation. TO give term Of
years to any officer Of the government. or any
employee. contrary to the very principles upon
which our government was founded.
II Is said that the President fsvors Mr.. jerks
civil service bill and will recommend Il to Con-
grcss, which doubt very much, for II will be
remembered that he desired the privilege Of Sc
Letting his own Cabinet officers, and certainly.
the same privilege should be accorded to the Of
fccrs Of the different branches Of the govern
ment. Undoubtedly the bill win bring out
much discussion, and win be fully ventilated
the coming session.
Mr.. p. W. Guptill Of Saco, arrived In this
city this morning, aiter brief visit North.
PxxSrIss.