New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-14

renewals, and in financial pinch ciaihor ioi
the issue of more promises to dilute tnoso
already out, 40 men who mean to act nom
estly in politics deal out in their platforms
and speeches the language of exaggeratlon anu
hyperbOle for which there is no warrant In
the facts, issuing promises which instead OF
redeeming they renew with larger ones. Ana
the excuse is that it is the currency of the
realm.
Doubtless Mr.. WoodfOrd, who lately pre-
sided over Republican State Convention at
Utica, means to be honest and sincere and to
deal fairly with his fellow-men in politics as
well az in everything else. But his eloquent
address upon taking the chair was quite in
the fashion. His picture of President Grant
standing up in the Fifth Avenue Hotel on the
first Sunday of the panic-a memorable figure
in the midst of that financial tempest with
the mOneyed interests of the metropolis surg
ing around and beating up against him I'M
ploring for an expansion of the currency
he alone calm, unmOved, firm, meeting all
their entreaties with the grand and mastery
answer, "The President of the United States
Cannot violate the law"-was very graphic,
and the audience gave it enthusiastic and pro-
longed applause Beside it the historic picture
so dear to American youth, of George Wash
ington and his little Ratchet over the
PROSTATE cherry tree, faded into the dimmest
outlines and the most insignificant proportions
And yet Mr.. Woodford knew, and the Conyen-
ton knew, that one year ago. with the law the
same as now, the Great Silent Man qua issue
four millions of the reserve i'll just such q
way as he said it would be violation OF law
to do now, the difference being that then the
peril was personal now general And should
Mr.. Woodford be called on to make pollti-
cal speech now that President Grant mas
issued five millions and "violated law" 1t Is
not to be doubted that he would ignore the
record and glow with rounder periods ana
still more fervid tribute to the Great Silent
Man who, between two violations OF law,
sandwiched in the remarkable assertion that
he could not violate the law. Not that Mr.
Woodford is insincere, but his currency is In
fated and irredeemable.
| So Mr.. Martin I. Townsend who responded
to Mr.. Woodford's eloquence-stopping III the
| midst of a poetic tribute to the sanity attn
butes of some person who wanted place on
the State ticket. to thank the Chairman Tor
his beautiful allusion to the President
| with the tremOr of profound earnestness IN
his voice, that " the faith of the people in the
Treasury Department is equal to their trust
{" in Divine Providence" Aud Mr.. Townsend
must have known that Mr.. Richardson Is
Secretary of the Treasury. He knew and his
hearers knew that the chief argument FOL
President Grants reelection was that 1t would
give stability to the finances of the country
And they all knew that the gentlemen who urged
the argument most strongly were Jay Cooke q
Co., Henry Clews s. Co., and loyal financiers OF
the same type, who at that very moment were
unable to pay their debts But Mr.. TOWNSEND
meant well, and was altogether in the fashion
Their currency is inflated and irredeemable
that's all So in the Democratic State Con-
vention, and in other local conventions thai
have been held lately, the same sort of exag
geration has been noticeable. They are al
alike in it. 1t seems to be in the air.
Can we not somehow get back to hard par
in this matter as well as in finance, or mus
we keep kiting the language till it is utterly
dry and sapless