Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1874-12-28
naiIn. Amnrbct yournaI
AU G. u Il "A.
MONDAY MORNING. Dec. %, 1874.
THE f1N4NCE BHL.

and dement's are freely canvassed. Great
as was the desire of its friends in the
House to take action upon it in that body
before the recess, it is probably as well
that the public have an opportunity Tor a
fair consideration of the bill and full ex-
preston of opinion in relation TO it before
the final vote in Congress is taken. Al
though there is some adverse criticism to
the measure, the opinion prevails that 1t Is
upon the whole sure step towards the
resumption of specie payments, better
one than we had reason to expect from
this Congress. Its opponents speculate
and theorize about better way OF reach
ing sound currency basis, but their
methods under present circumstances are
totally impracticable, and to attempt them
will only be to make exertion for nothing.
or. worse. to widen the breach which sep
arates the inflationists and hard money
men and postpone resumption to far
later period than is named in this bill. Our
republican exchanges from all quarters
generally speak of it approvingly. The
Chicago Tribune endorses it rs follows :;
1.-The passage of this bill will have the eff
fleet of strengthening public credit at
..home and abroad. 1t will impart conf
..dence it will offer capital the security
(which is now wanting; and it will have
1.-THE immediate effect of adding stability
.'to the value of greenbacks, by giving
"to them, what they have never mad, Il
.certain assurance of ultimate redemp-
"tion. 1t is not unreasonable TO expect
.that even within year greenbacks will
"hayc so far advanced in value as to re-
"move all motive for boarding silver coin.
1.-The silver dollar is worth about So OF sc
"per cent of gold. When, therefore,
"greenbacks advance to 81 per cent, sill
ever change will circulate, and when the
..notes reach 95 silver will float free
sly. Let the bill pass. improved
'.f possible, but let it,-embodying the
"features we have described, and become
"a law. Let the people know that the
Republican party has a policy on this
"subject, that it is committed to some pol
''icy, and the Democrats must either ac-
"quiesce in this policy or propose some
thing better of their own. They are not
Likely, in the .face of the distinctly
"avowed policy OF the Republicans, to as
"sume the other attitude of initiation, re-
''pudiation, and national dishonesty. If
"they do, they will suffer the conse-
"quences at the ballot-box."
This commendatory language from our
Illinois contemporary agrees with the
views expressed by our exchanges in
other sections. The opposition to the bill
is mostly from the democratic party and
few extreme inAationists. The Albany
Journal says "Viewed in all its aspects.
sit is an important triumph of sound sem
"timent and right principle. 1t is the end
''of false movements pledge against
''indation and right-about-iace towards
resumption. In this act the country will
"find fresh proof that, though the Repub-
''lican party may not always come up to
1.-THE ideal standard, yet it is amenable to
wholesome public sentiment, true on ev-
"ery main issue and trustworthy in the
great emergencies. Within three weeks
"of the beginning of the session, before
taking the holiday recess. the Republican
majority of the Senate has responded to
''the demand of the country in passing
''this bill. And the Democrats ?-bind,
stupid, laundering us ever! False as al
ways. to the interests of the country and
''false even to the interests of their own
party. They might have criticised de-
''tails of this bill. as Mr.. Schurz did they
"might, If they had been honest, earnest,
knowing leaders, have sought its amend
''ment, and, failing in that, might then
"have voted for it as declaration for
"specie payments. But, as usual, they
had neither the honesty nor the sagac-
"ity. Here was an available measure for
"a sound currency, and they hadn't the
"wit to support it, but unanimously voted
against it! True. unfailing Democratic
"fatuity! That act will cling to them like
"thc poisoned shirt of Nessus !"
1t is probable that the democrats in the
House will follow the lead of the demo-
Gratis in the Senate and oppose the bill
when it comes up for action in January
If they do the people will have good rea-
son to demand what the professions of the
democrats as hard money party are
worth. 1t will be a poor apology to say
that they desired an earlier day for re-
sumption, or that they were not pleased
with all the details of the bill, Tor they
know as well as the republicans do that
unless this opportunity is improved to set
our faces towards specie payments, there
is danger that many years will elapsc be-
fore we reach this point again. Let them
take the responsibility of opposing it as a
party measure if they like.
THE APPROPRIATIONS CASE.