, 1874-04-30

/ A0AAAAoa1 LEC EG4o 1aE VEIQ,
Tho country hna a1ready seen some of the OF.
faots of tho Presidents voto OF tho bill for tho
Imitation OF tho currency. There aro other effects
sure to follow, but 1t will take some little time to
devo1op thom.s On tho husinoss Of tho country
thus settlement Of the currency question, for
tho present at all evonts, cannot but have o
good influence. Businoss men, bankers, bor-
rowors and lenders Of money, now feel certain
TINT tho currency will not 10 increased in vol.
ume, md; therefore, tlloir operations will not,
they know, DO carried on entirely in tho dark
Hence, action will tako tho place Of inaction In
business. On tho credit Of tho country
the Presidents acting has been beneficial. It
has shown that the people OF the United statos
do not intend 'opon1y or ooyertly to 1epudiate
their debt.
Tho most pa1pablo effect, however, of tho veto
will be osoen in It's influence Oh tho political parties
OF the country. President Grants last message
was the doath-warrant not only to: tho Senate
bill ;it was in all probability tho dcath-warraut
ut ariat'ng political partioa- It threatona not
only tho unity Of tho Republican purity,
but Of tho Democratic, for noitler
Democrats .. nor Republicans arc agrood
among themselves on tho currency guoa-
tion. Con. Grant, Republican President,
is already ut loggerheada with powerful fao-
tion Of tho Republican party and tho party is
divided. There arc iufatonist Republicans
md anti-1n1ationtet Republicans, and, unless
compromise can be erected betweon them, tho
party is hopoioss1y ruined. Republican leaders
500 this, mud honco the efforts making to effect
compromise on tho question Of the currency.
It Is worry doubtful, howovor, whether any meas-
uro can be devised which will satisfy both inla-
tionlsts and anti-inaationists. What tho infla-
tionats desire is moro groenbaoks immediately.
ANY bill looking in that direction, however,
Con. Grant Is, by his veto, committed to
disapprovo. FREQ banking would hardly meet
the demands OF these gont1omon, for, banks
might not be opened, and tho National Bank
notos might not be iasuod} iu all probability
would not bo issucd for the present, since it
would not pay to igsuo thonl. As Mr. Buel de-
monetrated in hiH statement to tho Committee
on Banking md Currency, on lob. 9 last, tlo
stockholders Of o National Bank, under I, froe
banking net, would not hayo "onough Of total
not profits loft to pay pcr cont on their |
capital, and without any allowance in tho |
estimate for bad debse." FREQ benking,
with Or without redemption, moaning |
only tho currency in ita present. con-
ditlon, cannot bo accepted by Logan Co. as |
4 oompromao, md we believe that at present |
this Is tho only compromise thought of. The
prospect Is, therefore, that in tic Republican
army We shall sec two rival camps.
The indationiats aro very anxious to impress
tho country With lilo fact that they navs d na-
1orty In tho South, and that that minority dops
not agree with tho presiilont 10 command tho
respect which It ia supposed numbers always
command III politics, md not beoauHe they lad
my hopo to pass. their. favorito bill over tho
Presidont's veto, did they bring 1t up again In
Ehe Senate day before yestordny. They failed,
II course, to carry 1t, and t4on thoy mado ,au
OF their strength, aud that IL all they
loBlrod.
We're tlero among tho advocates Of a further
amisalon Of greeubaehs d natural born leador,,
Ho should find him already at tho head of q
'arty. Logan, it ia gencrally supposed, lacks
ho backbone necessary to gonoralship. Whothor
Horton will load The Republican forces as Ao
lus boon invited to by certain friends Of hie.,
he future will toll.
Tho eifcct Of the voto on tho Donaocratto
'arty viii DO much tho same as on the Republi-
,an. OF our Democratic oxcllaugoe in Illinois
indiana, Michigan, Wisconsin, Minnesota, Iowa,
iansas, Nebraska, and Missouri, fourtoon
'ppoao the Presidents veto, whi|o twenty.
mo sustain 1t, showing that. II tho cur
enoy bo mado question. 1t wiu not
10 squabblo between Republicans md
Democrats, but between ,1naatloniHta and Anti
ndatlontats, rooruited from tho ranka OF both
ho old parties. A. porusal Of tho comments Of
ur Western exchanges, Republican, 1ndopond-
mt. and Democratic confirms uA in thoao yiowa |