The Portland daily press., 1873-12-17

good taste permit him to strike back, it was the
simplest thing in the world to attribute the
panic to him. 1t would have been difficult to
find more patient, unresisting scapegoat,
The fact that he could not by any logical pro-
cess be held in the smallest degree accountable
for it, was too trifing point to he taken into
consideration. The organs of the gamblers
who had got most sorely pinched, banged away
at him, and have kept on doing it ever since,
with just as much vehemence, as if they were
utterly unconscious of the incredulous indiffer
ence with which their denunciations are treat
ed by the public.
As a matter of course we shall have another
panic, if we invite it by pursuing course which
| will lead to complications from which there is
no other way of escape. 1t is our own fault II
we do not profit by the experience of the late
| crisis, and inaugurate measures which will in
| sure speedy appreciation of the national cur
rency to par. Two Shings are very much need
| ed The first is an increase of taxation suffi-
| cient to insure not only revenue adequate to
defray the expenditures of the government, but
little more, so that there may be dminution
| of the national debt every year.
The second is repeal Of the legal tender act,
10 take eleCt titucI dO OutC, VI az al carly lu-
| ture day. These two measures of doing and
undoing, would in all probability exert snch an
| influence in shaping the policy of individuals
and corporations, as to prepare the way for
| speedy resumption. The permanent retirement
of legal tenders by the substitution of boEd
would necessarily follow. Gold will work its
way into the circulating medium, just as soon
| as all legislation which tends to expel it is
abandoned, and just as fast as a way is made
for its introduction by opening a place for it.
| There is no scarcity of it. 1t never was so
| abundant as now.
| 1t has simply been driven away to points
where it could be made useful. 1t can be re-
called at very short notice. 1t is the only flex-
| BILE currency we can ever expect or wish to
have And yet, every day that Congress sits
and gives no sign of sympathy with a restora-
ton to specie basis, we are receding towards
that perilons of irredeemability, whence
| there is no outlet save by the panic and bank
| ruptcy wherewith nature resents every in
| fringement of her immutable laws.
The Cuban meeting at the Cooper Institute
| on the evening Of the 18th was perfect fail
| ure, both in numbers and character. 1t is very
| evident the people heartily approve the action
| of the administration in reference to the Vir-
| ginius affair. The speakers on this occasion
were Rev. Mr.. Hepworth and the irrepressible
John Cochrane, some of whose pronuncamen-
tos in the Liberal Republican campaign last
| year, are masterpieces of "highfalutin," and
who rescued the State Convention of his di-
minutive party last fall, from absolute oblivion,
| by enjoining his colleagues to maintain the
| s'perpendicuarity of their attitude!" Hep
worth did himself serious injury by catching
up slang query from the body of The house,
and basing thereon reflection upon the honor
of the Secretary of State. Probably he felt
mortified when he saw the report of what he
said in the paper, but it is one of the kind of
things which cannot easily be explained or ex-
cused. His remark was not only in bad taste,
but coarse and ungentlemanly. And then
when applied to Mr. Fish, about whose purity
and perfect good faith, nobody who ever knew
him could have the smallest particle of mis-
giving, it is calculated to give the public very
unfavorable idea of the clergyman, who is so
indscreet with his tongue, so free with his
opinions, and so unchristian in his judgments.
YARMOUTH.