The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-04

Az II w y
sserit me actual debt Of the eopnsy and for laying
IRON the Consequences Of the usual improvidence and
give immortality q to public ersdn ' ''''''' may
IRON the Troy Times-republicanI ~
the course Of Congress, In view OF the existing
financial situation may properly be characterized
as the manifestation OF insanity. Money, or what
we call money, IN irredeemable paper currency DC.
From the Newark IN ~ Journai-republican.l
me Senate has avowed its determination not
only to insist on imitation, but, as lar as It was
able TO prevent tine possnS, a o. redemption OF
ment was accomplished by the combined strength
OF the South and West, in the same manner In
winch they succeeded II carrying the $500 600 600
Imitation DILL.
FROM the Chicago Times emocratic.l
After an Intellectual attempt to prevent sudden
and violent innaton Of the currency by providing
that greenbacks should not be issued for the pur-
chase OF bonds at o premium Mr. Morrill, announced,
in effect that he would stand aloof and let the III.
nators go IT wild. The rest OF the conservative
Senators seem to have taken the same resolution,
for the innators did about all the talking and
suggesting on Friday. Perhaps the advocates OF
sound currency In the Senate cannot adopt any
better course than this. They have pointed out
warnings and protests as became them. Now they
can do no more. 1t would be q mere waste OF time
ex haS OF more
seeing that the innators are placed squareiy on
the record on every important proposition, SO
That they may be held to strict accountability when
the day Of reckoning comes. Let the suspense be
ended as soon as possible. Let the baII0onists do
their worst for the worse they do the sooner viii
the country be cured OF the paper money delusion,
There now seems TO be no prospect OF cure ex-
cept by way or unlimited expansion and explosion,
anu the iastcr we expand and the sooner we ex-
pl0de the more complete and lasting win be the
cure. Let the remedy be applied herolcally, until
Tue greenpackS and bankn0tes shall, like the as
signata Of France, be pasted on the walls OF our
cottages and farmhOuSes as . perpetual warming
John Laws who invent them. and the Logans who
advocate them after studying finance Tor two
whole weeks. But let not the sound money men
DE the ones to apply the remedy. The lnnator5
have made the prescription; now let them admin
ster as large and frequent doses as they please.
from the Philadelphia Chronicle-republican.
The present course OF Congress can have but one
OF two results. Either the steps now taken must
be retraced, and the task OF some future Congress
is made more difficult by the weakness OF this one,
or else we must go on to ultimate reputation. NO
other result Is possible.
From the Boston neutrality-suspicious..
The Western and Southern members or Congress,
as general rule, are determined to have more
currency. additional circulating mediumn IS
their cry. But what VIII that avalY The increased
issues OF paper money will not permanently en-
large the volume Of the same in the sections now
complaining OF scarcity. Being circulating me-
embarkinI points OF trade and commerce., or such
VIII Immediately be the tendency. Congressional
terprisc, economy and business sagacity, which
will result in abundant means to any free cominu-
nifty where these qualities are displayed.
From the Boston neutrality-suspicious.
y 1t Is obvious tDat we shall nave to make
the best OF 1t, and although we have often
pressed our strong convictions that the true In
terestS OF the country demand return to the coin
basis, and July believe that irredeemabe paper
money encourages and develops excessive enter
assent to the proposition that the greenback Is "a
lie and cheat.n 1t Is, In its worst aspect, only
good laith and the wealth OF loyal peope--a
people full OF energy, enterprise and vltallty-and
It will be paid to the last dollar beyond doubt.
Let us then be tolerant on this question,
and not having been able to convince people that
they were about TO take false step, let us do all
we can to avert or mitigate the evils which the
hard-mOney advocates believe may or must FOL
low, and act upon our faith that the greenback is
no more OF q lie and a cheat than when its legal
tender character enabled the country 70 60 through
one OF the mightiest civil wars the world ever saw
with honor and IN triumph.
From the Harrisburg Patriot-democrat
IL there ever was fit occasion for the exercise
OF the veto power 1t win be when the bill to initiate
the lrredeemabe paper currency to the extent OF
s44, 200 900 comes before President Grant Tor his
signature.
IRON the Hudson IN. W RegIster.l
1t was hoped and believed that the bitter lessons
OF last year would have had wholesome effect
upon both the people and their representatives.
The blow stunned and should have sObered u.s.
Yet in the lace OF this. the majority IN Congress
legisate Tor just such another tabric--a temple
without foundat0n-destlned In u brief period to
topple more dsastrously upon our devoted heads.
From the Delhi IN. " Gazette-lemocratl
add power and force to the flood that IS sweeping
on to destruction. Specie is the only true basis,
aRf SPEEDY return snereto Is t a ony trae R2c
aes ocan anal ueo
claimed BY many demagogue,. ~--~
from tue Detroit Free Press-democratic.l
Grant viii not rise to the height OF greatness de-
manded OF hm-that he Will not be able to put
a at bs for the ultimate and u
perity OF the nation. II would AFFORD us pleasure to
be able hereafter to say that we have msjudged him
III this particular, bat hts record since he has been
President has not been such As TO warrant the
hope that, however he may feel III secret, he viii
openly and to the extent OF his power oppose lnna
ton and imitation schemes.
from the Baltimore simultaneously
The conservative sentiments OF the fresi-
dent stand in happy contrast 70 the wild legislation
of a veto would sustain the honor and prosperity
or the country.
Iron the Schenectady Observation-Disclosures
The action OF Congress Is u blow at the pubic
credit, for how can we ever expect To redeem our
greenbacKs il we 20 on increasing them And II
money according as it is affected by It's whims,
who can feel the confidence in suca money that 4
sound state of pubic credit requires
From the Manchester a. H. Mirror-adminis-
The bill ought to be entitled San act
for the relief Of bankrupts." II passed, it
likely to be, 1t will send the financial balloon up
a height from which safe descent Is impossible,
and those OF VINO live to see it strike the eartn
again will probably witness panic compared
with which the one OF last fall was only an ad-
monitor.
from the Portland Press-adminlstration.l
Who eau tell where the demand for .'more' will
stop The South and West are cordially united
IN the mad enterprise, and New England Is no
more needed than an old grandmother who stands
in The door, with warning hnger raised in air,
exhorting headstr0ng children not to go skating
on thin ice We may yet buy our aour. the Hay
tlans do, at 800 pound and exchange cord OF
the coveted greenDacks Tor u Ike quantity OF
wood.
WHAT THE PEOPLE SAY.
Views OF Baltimore Banker.