The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-04-20
COLUMBIA. s. e.
Sunday Morning, April 20. 1878.
The New York 7Smes-the Adminis-

oHnday Morning, April ~, 1873.
The New York TInses the Adminis-
tration organ-attempts q defence of the
financial policy OF the parties whom it
gushing!y styles ''the kind-hearted Mr..
Richardson and our good President" {"
The substance of the defence consists in
the assertion that the only manifestations
OF disapproval come from Wall street
speculators, that neither the kind hearted
Secretary nor the good President will
yield to their clamors or change their
programme until satisfied that the busi-
ness Interests OF the country require q
different policy. This style of defence
is scarcely deserving of much attention.
The persons injured by the financial
schemes of the Administration are rot
the speouiatora OF Val street, but the
business Citizens of the coun-
try. Tlairolicy pursued by the Presi-
dent Instead Of injuring the Wall street
ring. seems to have aided them very ma
terially. and to have allowed then to
carry on their operations with. impunity.
The business community have begged
General Grant to interfere and save their
interests, but in vain; Those who re-.
member the Presidents completely in
the operations OF Black Friday aud in
the gold panic of 1870. will not give him
credit for any deep seated hostility to
the speoulators or their schemes.
The New York Bulletin says General
Grant, in conversation with leading
'fnancier of that city, a few days ago. de-
fended the assumption expressed in his
message to Congress ana in his oongra-
tulatory letter to, Ssorstary Boutwell, !,
that the American people wished no
change to be madein the financial policy
OF the Administration. He said that
this question was made the leading issu 9
OF tho late Presidential canvass; that
Secretary Boutwell, addressed the mer
chants and business men in New York,
Boston, Chicago. st. Louis and all the
commercial centres, and that the elec-
tion results sufficiently expressed the
desire OF the people for the continuance
OF the present system. Hence, when
Secretary Boutwell, retired, the Presi-
dents chief desire was to and some per
son capable of carrying out his policy in
all its details. No person seemed to
possess the requisite qualities for this
purpose more than Judge Richardson,
and this fact led to his appointment as
Mr.SRoutwell's suooessor. The Presi.
dent seemed very strong in his convic.
tions as to the approval OF the financial
policy of his administration. as expressed
by the popular vote, and of his duty to
adhere to it under I'LL circumstances
He steadily refused to see any force in
the objections tina! he might be possibly
mistaken in his views ON this point, or
to comprehend that there was any ne.
oessary connection between the results
OF the Presidential contest and Mr..
Boutwelrs peculiar plans of Anonciering.
He seems particularly impressed with
the idea that he owes his reelection to
the ex'Secretary's superior management
of'the national finances, and Of the obli-
cations imposed upon him TO carry it
out in all it's details during the next four
years of his administration.
TRE TRUTH ABoUr THE SOUTH Mr..
Bryant. the distinguished editor of the
New York Posi-. has been among us, and
tells the North, in his paper, that he has
been unable to fud any sectional bitter.
ness or malignity South Of Mason and
Dixon's line. His words will fall with
convincing weight upon thousands of