National Republican., 1873-10-02

been tlmo since the close OF the war In
which II was moro practicable or possible"
THAT will be seen Is an entirely different
proposition from that Of tho Tribune. II Ia
perfectly true that resumption Is nearer now
than 10 has been since tho end Of the rebel
lion, and tho situation will In that respect
grow better and better every day. But It Is
a condition Of affairs entirely independent Of
acts Of Congress, and Of the suspension Of
banking g-houses. Tho fact Is we have been
and are nearer to specie payments all along
than any one Of us suspected. We have
been growing up to II ovcry week and month
for tho last foui years. The collapse of a 10.
Of bogus stocks, tho overthrow Of a set Of
spectators, has helped to open our eyes to
tho real position Of the country; but the
nation was Just as strong before their fall as
II Is now that thoy are In bankruptcy. Specie
payments are coming In their own good time
and 10 their own way, depending upon laws
rs immutablc as those Of nature. Any at
tempts to legislatc the country into II will
end only In ridlculo, II not ruin.
The GENERAL TONE Of our dispatches In
dicatcs that the panic Is at an end all over
the country, and that business Is reverting to
It's accustomed channels. Tho opening OF
the Stock Exchange Tuesday, which was
looked forward TO with so much apprchen-
sion, has been productive Of the greatest
good in settling values and restoring conf.
dence. The Herald, In referring 10 the sub.
jcct, says. rr.l
.The panic Ia over, and one OF tho creates,
| triumphs known In financial history has besn
gained. The reopcnlng Of tho Stock Exchange
yesterday marked the end OF an eventual iurry,
and gave us assurance OF the completeness d
| the victory achieved by men In legitimate busL
neS over the rash and needless speculators Ia
Wall street. II Ia the triumph OF financial soyn,i
ness and solid worth over the uncertainties o
needless speculation, OF correct methods O
doing business over the adventurous ways Of
n haste 70 Se rSa ., moderson and Son
| greed. Not single member OF the Stock Ex
change failed to meet his obligations. The day.
transactions were entirely free from the spin
with more caution and confidence. The routln,
OF the Exchange was taken up as II only q sun
day had interyened since its doors were closed
| A great crisis, Involving fearful loss to tn
country and great suffering among the people
has been aveIted BY the cslmncss and niodera
| ton which allowed the storm to spend Its fur
upon those who had courted and provoked Il
Only the Iuchu bankers, the Wild specuiators Il
uncertainties and insecurities and the unsoup
banks and trust companies have failed. Not
Il even sensibiy suffered from the flrce OF IN
storm. The prosperity OF the county Is ur
Affected. Much In the way Of reform viii no,
be needed, especially AZ regards the manage
meat OF savings banks aud In relief and sccurit
from the national banking system; but Just q
the moment we have only rejoicing tnat IN
crisis Is past that panic In Wall street will nc
Inevitably bring ruin to the country and that III
power Of reckless speculation Is broken, II nj
| entirely destroyed. The victory IL due to III
wisdom Of General Grant, the caution OF ou
men Of business. and the moderation Of the pre-,
| and the people,