The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-28

Senator Carpenter ON tho Prospect Of
New Parties.
Naturally oil those who believe in national
honesty and are opposed TO an inflated paper
currency are thoroughly pleased with the
Presidents veto, and rejoice in it as great
victory over certain insidious enemies of the
countrys present and future welfare. But
the friends OF mathematics tender-hearted
gentlemen who want to s'relieye" the dear
people, and who snap their fingers at the notion
of repudiation-are persuaded in some degree
that the bill which was returned to the Senate
unsigned would in reality have resulted in a
great and mischievous contraction, and they,
therefore, are also pleased with the veto.
Perhaps the imitation lawmakers are extremely
modest in their estimate Of their knowledge
OF finance and Of the results Of given law
when they tell us that bill resulting from
months Of elaboration in the best in ormed of
the two houses, and notoriously intended to
initiate the currency, would really have con-
tracted it 1.-THE Senate comprehends SO little
the general scope of its labors should it not
periodically 60 home and leave the currency
to take care of ITSELF
II, however, we take this class Of imitation
lists OF their word and set them down as in the
number of those delighted with the veto we
find the odd fact that both the friends and the
enemies OF the measure are equally pleased
with its defeat; and this is not common in
politics 1t is the good fortune Of General
Grant to have pleased all parties; and yet,
with startling inconsistency, those indation-
lists who are delighted with tho veto because
the bill killed would have contracted the cur
rency make very wry faces over this pleasant
surprise of rejection which prevented the con-
sequences Of their own blunder. General But
Ter accepts and swallows the pill with grimaces
which seem to indicate that no finds it bitter
and Senator Carpenter, while he finds the
Message dron, evidently does not regard it as
q drollery over which he can be particularly
jolly.
Senator Carpenter, rs interviewed, declares
it to be his opinion that there must be
''burst-up of the republican party unless
that party can settle this financial issue within
it's own lines and SO prevent its going to the
country for settlement as the commanding
issue Of the future, to be determined only by
the election in 1876 Of either rag money
President or hard money President; and
further, that, even with this danger threaten
ing its failure to settle the ISSUE the republic
can party will still be unable to settle it unless
the resumptionists strike their colors and
come over to the camp Of the repudiators and
infationists, and agree with them in some
measure to ''relievs the people," Substan-
TALLY the same view Of the results of the veto
on parties has been already taken in these
columns as is now attributed to the Senator;
but we ara tor loss sanguine than he is OF the
likelihood that the opponents of imitation viii
give way and surrender in the hour Of victory
all the results OF their triumph.
He sees the only salvation Of the republi-
can party in the chance that the resump-
tionists may go over and agree with their OPP
ponents for the settlement of the agitated
topic, and, so TAR, he seems to us o sound
politician. But in his evident confidence that
the resumptionists will do this he seems to
us visionary. His argument is based on the
danger to which the Eastern republicans will
expose themselves by losing the alliance of
the Western republicans in the presence of o
reviving democracy. He holds that the re-
sumptionists OF the East are "of all men least
able to split with the infatonists of the
West; that is to say, if the resumptionists do
not see this subject in the light in which it
appears to Senator Carpenter, but persist in
their obstinate refusal to "relieve the people, !"
then the good republicans of the West will
cease to take care OF them as hitherto, and
will leave them to be carried away and eaten
up by the great democratic bugaboo. This is
the sort OF reasoning that is put forth by
clever men who know Of no world and con-
COVE OF no ideas but such as are within their
party, and especially when one faction of q
party miscnievously conceiyes, as the Western
republican faction has now done, that it alone
contains all the worth and power OF the party,
and can do without the other factions better
than they con do without it
In the democratic history we saw q party
that had been bitten by the dog who commu-
nicates this madness. Southern democnts
were determined to drag Northern democrats
at their chariot Wheels because they were sure
the Northern democrats were "of all men
least able to split with them. Determined
to force nm extreme programme OF
Charleston, they counted on the adj
hesion Of the Northern democrats in the
last extremity for what seemed to them the
sufficient reason that the Northern democrats
would come in for fear OF being caught and
carried away in the whirl of the then fercely
arising black republican storm. But as the
result showed, the possibility of such fate
had fewer terrors tor the Northern demo-
Gratis than the fato that would necessarily
have befallen them if they had supported the
| Southern madmen at Charleston All the