The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-15
PRESIDENT CREELEY,s FINANCIAL POLICY.
From the New York Financer ultra free trade),

ltTOm Tie new lOrk t1nancler ULTRA Tree Crade),
July 10.
Now that the Baltimore Convention has duly &C
cepted Mr.. Greeley as the candidate Of the party,
sibe, 1t becomes an interesting question what sort
Of financial crotchets he Will attempt to put into
practice in case he becomes President. II there is
anything more unstable than water and more
variable than wind Mr.. Greeley seems to ftly
represent that thing. Through his editorial career
Of more than thirty years he has adhered to but
one polcy-that OF centralizing interference with
individual affairs, deceitfuly termed 'protcction-
and to but one habit-that OF outrageously abusing
all his opponents, particularly the democratic
party, which has now "taken" him as very un.
palatable medicine that alone could save it's life.
The financial policy Of the Tribune has been
and 1862; its ION to Richmond" before Bul, Run,
has been revived in ION TO specie payments" and
Mr. greeley attempts 70 carry it INTO eject ne
door Of the Treasury Department to the effect that
specie payments are thenceforth resumed ut that
establishment: There are many persons Of average
intelligence who now believe, or may easily be led
to believe, that no more than this will be necessary,
and that the whole difficulty of specie resumption
may be thus summary removed. they argue, as
Mr.. Greeley INSISTS" with entire correctness that
not the specie itself is desirable-siver coin OF
course excepted-but the ability to obtain it, and
that gold, with paper at par and convertible, would
only have its constant demand here for use in the
sS57 600 of legal tenders outstanding with but
sss0OoO 600 god IN the treasury, the rum Tor re-
demption would be only spasmodic and tempo
spasmodc and temporary, and among the crowd
besieging the Treasury door would probably be
presumed" some months ago, paying silver in
change as an advertising device; and the silver
NOT RETURN to their tits. the T treasury should
resume there is no belief that it could continue to
redeem; hence 1t would shortly be forced to sus-
AS TO the payment of the debt, Mr. Greeley will Of
course be for rushing tnat through with speed. He
voluntary subscription, but be will certainly Insist
upon paying 1t on within the four-or eight-years
Of his administration; Mr. Boutwell, however, has
the people that an increase OF has the less terror.
Mr.. Greeley may OF course be expected to do his
best to raise higher the wall between the people
awaited With canGeas fSr the higher It Is raised
the sooner 7 w tumble ini ,., e. 49,,
of Treasury coin balance, and in that We shall
cheerfully commend him, provided he does not try
s ns yho aS ls5 $9 sta tafs we're re
viii enforce honesty, sc6hj6y and elyjl seivlSe r.
form we are far from sanguine enough to expect.
he is consenng unto much in others H she he has
scruples, but his political bedfellows have not.
His associates II politics are about bad can
s''s$ q P'nsE
Guido 'uoso NOW ~ possession VI the iced
Ing places, II possible: Yet, on the ,, other
their capacties enlarge and their relatives multi
ply, and II they stas, Sy Grants reelection, the
jollity over another four years In prospect viii be
very costly 70 the nation. On the whole there Is
little difference in the color or the greediness Of
vultures
But, Of course the Baltimore entry may not win.
President Grant, or President Greelcy7 II Is truly
hard choice which the politicians have presented
tween hre and sword, or between war, pestilencc
and famine. Many persons fraely aud sincerely
choose one OF the two; many aDhor BOTH Yet
there Is the choice. TAKE one and leave ore"
Nothing less than more suffering than has yet been
experienced, 1t appears, Will teach the American
people tho rationale OF living and the true princi
pie OF democratic government.