The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-08
WASHINGTON
Republican DiSmay at the Presidents
Financial Action.
SIGNIFICANT CRITICISMS.
Democratic Complacency and
Commentator.

Are We Drifting Toward the
"Third Term"
WASHINGTON, June !. 1874
The Prostdent's Financial Thunder-
Observation-Disclosures widely Spread
Among Republicans-savsgs Criticisms
Of tho ACCOMPLISHMENTS Democrats
Complacent.
finance caused the greatest excitement among
members Of Congress. without regard to party.
1t was the one subject Of talk in the House yester
day, ana though the Senate was not In session
many OF the Senators were on the moor or the
House exchanging views with members. Con-
versatton. was free in tone and the epirhets used
In most instances we're such as are excluded from
print the Speaker. who has been jealousy
working to harmonic conflicting views In the
hope OF shaping bill which would be acceptable
to the President gave expression to his opinion
in m0nOsyilable :-"Wid! wild ~ 'Would you
vote for bill embodying the Presidents viewsW
asked the Speaker OF Mr.. Conger. of Michigan. II
donot feel at liberty to decide until have consulted
JONES'" was the answer, which Immediately became
famous throughout the House. The memorandum
ton made easy" and II bid for the third term"
Said Nesmith, OF Oregon, to Speaker Blaine 'Grant
has nanked your prospects for the Presidency for
tho next term" and Judge Jewett, Of Columbus,
Ohio, who has been spoken OF as the next Presi-
dent Of the Erie road, added. 'And Thurman's
too" 'Now, let Grant veto the Civil Rights BILL"
remarked q Simon Pure democrat, "and we will
run him as our candidate for the Presidency next
time" While the democrats appauded the Pres-
dents views as sound democratic doctrine they
did not approve OF the manner in which he had
endeav0red co forestall the action OF the
House BY an advance veto message as
they called it. In conversation with over
100 members OF the House. representing
all shades OF financial opinion. not one
spoke respectfully OF the Presidents course. The
conservative element among republicans from the
West heretofore moderate In expressing opinion
about the veto OF the Finance bill, are now out
spoken In their denunciarl0ns, and declare the
time has come when q rupture must be made with
the President; that he has been controlled all
along by the wealthy bankers, who are his inti-
mate friends, ana that 1t was In exceedingly bad
taste to communicate his views through Senator
whose colossal fortune Is made up Of gold and sill
yer minea 1t was only another evidence of hts
affllia ton with capitalists and want Of regard
for the laooring element Of the country.
In this connection It was astonishing how the
fear Of a third term doomed up. Members who
never before thought or spoke on the SUBJ
ject except with indecison calmly and seriously
talked about 1t as though 1t were foregone con-
clusion. Your correspondent overheard an Illinois
member of prominence say that with the ONCE
holding element, . vast civil service army, the
powerful combination OF the national banks and
wealthy merchants and capitalists throughout the
country, Q third nomination was not 80 preposter
Gus as he had all along supposed "You see," he
continued, ''this money question has developed
the subject In new light, and one can now
realize what Greeley SAW during the last Presi
Dental campaign. 1t Is not the strength OF the
republican party we fear; it is the moneyed In
nuences Of the country" Mr.. McCrary, OF Iowa,
Chairman OF the Committee on Railways
ana Canals, who led the transportation
question through the House, emphatically de.
clared that the Presidents course would do
more to disrupt the republican party than all the
grangers in the country. He said the manner OF
communicating and the matter communicated.
was OFFENSIVE in the extreme The New England
members are divided some sustaining the views
of the President, while others condemn the act.
Pennsylvania Is aroused. The Reciprocity Treaty,
with the Presidents Obstinacy on finance, arrays
her representatives against him. The Southern
republicans give up all hope OF their strength
through fear Of veto of the Civil Rights bill. The
plan now to stick to the report OF the Conference
Committee, but here again comes up an obstacle
OF great proportions. The party is not unit on
the subject OF finance. The Eastern members are
for specie payment, the western and southern for
more currency; this issue is inevitably division
in the party, the agricultural sections arraved
against the manufacturing and commercial sec.
lions.
| N -
ference Committee ON the Finances
The Compounds to bo Reported-The
New Party Looming UP I'm the Future.
The Conference Committee on the Finance will
meet at ten O'Clock tomorrow, for, 1t Is believed
the last time for financial discussion. Senator
Morton states that they will agree on report and
present it to the Senate at once, and though ne
does not state HR particulars Of what 1t will be-
owing to the obligation Of secrecy which the com
mittee have uselessy taken, it can be stated that
they will essentially consist OF those already men
toned In these dispatches as to what would con.
stitute the basis OF their agreement. From Sena-
tor Morton's positive manner is evident that he
and majority Of the committee have come to the
conclusion that 1t Is fnexpedient to consume any
more time In the endeav0r to erect o unanimous
decision as to what Ia best to be done. In conced.
ing to the thirty seven ana half per cent limit
OF the proposed retirement OF greenbacks and the
non.disturbance Of the reserves Of the country
banks now held in New York. with the acceptance
OF the present series Of the four, four and a-hal
and nve per cent bonds Senator Morton and those
concurring with him, viz, Senator Merrimon
Messrs Farwell and Maynard, think that they have
gone a. fAr 80 they justified, In spirit Of com.
PROMISE Senator Sherman does not concur, mol
does Mr.. Cymer In this belief the former insisting
IN a Oreenback retirement of ut least forty ma,
cent and the fixing OF the date Of specie resump
sion in January, 1877. The report made by tn,
Conference Committee which can be brought in a
any time as privileged question, will pass the
Senate and the House. This Is more especial,
insisted upon as likely to be the result at ono
because. since the PRONUNCIATION OF the memoran
dunn letter Of the President TO Senator Jones
those favoring expansion are infuse,
with positiveness and unninching determine ior