The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-06-09
GLnGatslIi5alpe:tl'trer i5lp:lt
The PFesldenps Last Manifesto not
Popular. ..-...-

The PfeSldenVs Last Manifesto NO
Popular. ..-+.
The Washington dispatches yesterday
morning lnioEmed Us that the President
financial views as set forth in his recen
letter to Senator JONES, of Nevada, werl
not relished by o majority of the Repub
lIcan members Of Congress. This woult
not be 80 significant were It not for thl
additional fact that they are otltkely 4
be endorsed By many Of the Influential
Republcanpapers Of the country, and, Ii
fact, by 9 vast number Of people Of boil
parties who endorsed the, Psesidentia
yeto.g The fact that his views were pu
forth while o compromise bill was pend.
Ing before Conference committee Of thl
two Houses Is oi itself esteemed cause
ol oftenae by many members, and Is alst
criticised by the press as an act thai
oyersteps the prophecies Of his position
and isan Infringement on the Legislative
department Of the government. The
Cincinnati Gazette Of yesterday says thai
"When Congress submits in advance Id
. measures TO the President and shapes
themby his ultimatum, it resigns its leg.
Islatiye functions and becomes merely q
registered the Executive sdecrees."
The New York FOst Of Saturday even
ing last stiff specie psper,speaks Of the
Presidents plan as extreme and imprac.
tlcabls and compares it to the sort oil
treatment that would kill a patient in
order 10 cure him ol disease. Further
on in It's article 1t speaks Of 1t as a pro.
position to jump from tho top Of the
houset to the ground, instead Of gradually
coming down the stairs
Perhaps it is proper in this connection
that We should summarize the position
actually taken by the Pfesident in his
late manifesto. By referring to the In.
TELLIeENoER Of Saturday last, where his
views were published at length, our read.
ers will see that he advocates return to
sspecle basis at the earliest practicable
day, and thinks that 1t may be brought
sbout,by the repeal Of the legal tender
clause, the same to take effect on July /
1876, after which all contracts should be
madeon q coin basis, andby providing
that at fixed date, SAY July /, 1876, the
present greenback currency shall be re,
deemed in coin and destroyed. These
are the two main features of a scheme
by which he Is Of opinion that in two
years the country, could have returned
to sound principles Of finance. b.. ,s &.
The New York Bulletin says that the
proposition to substitute specie for green.
bscksin q year from now Is equivalent to
knockiag the bottomout Of thetub on the
1st tofJuly, 1876. S3 "a e y, .i.sl 3 s;. 80 Il +
SThat Is, throw every bank and every
one else into suspension, and the business
affairs ot the country into inextricable
confusion: OF course, nothing OF the kind
viii be done, but, nevertheless, II Is dis
Couraging to know that the Preaident
entertains such crude and mischiegous
notions.S" at' : ~ s,7 ~ 2 l9iit-i' 4,
The Cleveland Htfad OF yesterday
speaks Of the Presidents maniIeaio as q
message to Jones', and says t'there Is
not o single paper We have yet seen,
even Of the most hard money stripe, that
commends it without important qualifica.
tion. The general idea Of early resump-
ton Of specie payments is commended,
but there is doubtful Matchmaking over
the details.'p k.ifGg EhG5' T&
The Cincinnati Gazette closes tho article
from which We have already quoted
above as follows; =
"nCongress will simply let the cur.
rency alone, and give assurance that
there shall be neither expansion or con-
traction, II will remove an uncertainty
which Is disasfously affecting business,
and the progress OF credit and currency
toward soandeF conditions will be SUI
fcent for q time" ..ys-
TheNew York Herald Of Sunday closes
It's editorial comments on the Presidents
vleWsasiolloWs: i.a7
"Tfe great point Of the Presidents
memorandum is its agreement with the
vetoon'the leading fact Of our financial
condition-the necessity Of taking steps
toward redemption and resumption. Per-
haps the steps proposed are not the best,
but they are scarcely yet in the domain
where their discussion can be CT public
advantage"
Rn,harnn.,,. nn.n.I,n..a