The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-08

they would end He would make repeal OF
the Legal Tender law the first measure in
point of time, as it is undoubtedly the first in
the scale Of importance. As soon as nobody
is compelled to take anything but gold moth
ing but gold or its equivalent viii be taken.
His recommendation Of this heroic remedy
places him at the furthest distance possible
from the infationists Of every color and de-
scription. The supreme importance he at
taches to an actuA currency of the precious
metals is attested by his recommendation to
suppress small bank notes. He would permit
the circulation of no paper representatives of
money of Q smaller denomination than ten
dollars. II would not satisfy him merely to
carry back the currency to the condition IN
which it stood before the war. He desires
more thoroughgoing. radical reform, which
would cause the clink of gold coins to be
heard in the pockets of every citizen. This
sound and excellent idea Is too far from practi-
cal realization to be worth discussing now in
any other view than as illustrating the wide
and impossible distance which separates
General Grant from the infaIonists
and extinguishes all expectation Of any
compromise which they would accept
He has placed himself on such
high ground that they would have 70 march q
very long way up to find point at which he
could meet them. They win prefer to leave
the currency as it is rather than accept any
compromise which is possible with such views
as President Grant expresses. If they pass o
bill now it can be with no other purpose than
to beard the President and provoke rupture
They will think twice before trying that expert
ment The inAationists cannot afford to come
to close quarters with Grant as the recon-
did with Andrew johnson. His
habits of taciturnity protect him from weak
ening his position by incorporate, abusive
harangues, as johnson did. he stands upon
the regular party platforms, which johnson
did not quarrel with him would split and
demoralize the republican party, whereas the
quarrel with johnson strengthened and stiff
fened it. Nothing remains but for them to
submit to the inevitable with as good grace
as they can. :
President Grant will still remain in Office
for nearly three years, and the infationists
cannot doubt that during that period their
policy is effectually blocked, nor that further
agitation Of this question in sense hostile to
the Presidents views would weaken and dis
organize the republican party. The republi-
can ship is freighted with all their political
hopes. It cannot founder OF go to pieces
without engulfng every prominent inAa-
ZIONIST, unless they are destined to exemplify
the saying, whom the gods wish to destroy
they first smite with madness They will
forego any further efforts to initiate the cur
renoy against the strongly declared views Of
the President If Mr.. Morton and half dozen
other aspiring leaders win keep still and let
this question rest, their followers, before
Congress assemblies again, will quietly
make up their minds to accept the situation.
Expecting the Presidents determination to
operate with the steadiness of Law of
nature, the infationists will submit as the
democratic party submitted to the new
amendments to the constitution, when they
saw that resistance was vain. The Congress
sional elections of the present year will help
purify the air on this as on some other ques-
tions, creating possibility Of rational legisla-
ton next winter. After embroiling the sub
ject during this futile session the republicans
must take the consequences in large demo-
cratic gains and if the democrats shall have
the wisdom to nominate stanch hard money
men and the good fortune to elect them, this
Congress at its next session will be con-
strained to accept the financial policy of Gen.
eral Grant as the only means Of saving the
republican party.