National Republican. (Washington City (D.C.)) 1872-1888, 1874-04-06
In actual votes cast there is a clear majority

In actual votes cast there Is a clear majority
of 103 IN favor of an expansion of the national
currency. If we take the Southern and West
ern States together, we find this extraordinary
result For expansion, 139; against expansion,
% /; absent or not voting, IS; of whom ten
may fairly be classed with those voting for ex-
pansion. If we take the three great Middle
States, New York, New Jersey and Pennsyl-
vania, containing as they do the concentrated
wealth of great money centres like New York
city and Philadelphia, we nevertheless find the
vote, for expansion, 81; against, %. 1t Is
only In the half dozen little New England
States, where they have national banking capt.
tai IS, 0O0, 900 beyond what under the law of
distribution or equalization they arc entitled to,
that a majority of votes is found recorded in
the House against an increase of the national
currency.
And yet with such astounding facts staring
them in the face, we find Eastern papers loud
in the denunciation Of Congress for having, in
their votes on the financial question, out
ragged the popular will; and they call on Presi-
dent Grant to interpose his veto Here is an
invitation to "Casarism," that should really
alarm the friends of popular government. But
let US look again at the vote for increased cur
rency cast by the Southern and West
ern States 1--WE mean the Pacific States)
and see what significance their votes have.
The votes of the South and West in the House
number 199, almost two thirds of the vote of
that body, the vote Of the entire Union being
only 292. We see at glance wha. proper
ton of the country electing President Grant, Is
comprised, when we speak of the South and
West.
The vote of the South and West against an
expansion of the currency Is, as we have stated,
only 80, out of total vote, when all are cast,
of 100. Such unanimity on any question Is
almost unprecedented. We need not stop TO
consider whether or not the representatives of
the Southern and Western States truly reflect
the sentiments of their constituents in casting
the votes they do. If there Is anything the
average Congressman desires chiefly, 1t is to be
reelected. If there is anything he greatly likes
to do, It Is to cast votes that will make him
popular in his district. If there Is anything he
industriously labors to learn, 1t is what the
prevailing sentiment of his constituents is on
Important questions like that of finance.
Now, granting these several propositions
and no one who knows the A B of American
politics will doubt one of them-we must con-
clude that the South and West, if their repre-
sentatives know anything of their will, are po-
litically unit in favor of an immediate IN
crease of the national currency. And the man,
or the pretended newspaper organ of public
sentiment, that would attempt to persuade
President Grant to veto any bill passed by
Congress for an increase of the currency of the
country, in accordance with the popular will,
would urge him to an act of "Csserism" that
would not only bring on him instant popular
Indignation, but would blast the good name he
has built up in civil life of respect and ODE
dience to the will of the people.
The people are satisfied with the currency
they now have-they want no better basis
than It rests on. To claim that It would be
any more secure If It pretended to "rest on q
specie basis" is q lie and fraud. We never
before had bank-note currency so safe, so
popular, and so useful as we now have. The
people know this, though they never read the
travels Of Marco Polo, or one OF Sehurz's
speeches. They have not asked President
Grant to interfere with the legislation Of Con.
gress, and they are amazed at the threats OF
Eastern bullionists that the popular viii de-
msnding an increase of this currency Is to be-
hindered by q veto.-Aissouri Democrat.
THE VETO CLAMoR.
The great outcry of Eastern capitalists In
favor of an Executive veto, to serve their in
terests, regardless of Western and Southern
demands, Is piece of overbesring insolence
quite in keeping with the previous conduct OF
our wall-strcet masters. We presume the
President is not in the least danger Of yielding
10 this selfish, sectional clamor of minority
to defeat the declared viii Of majority Of the
PEOPLES representatives. It would be strangely
inconsistent with his course nnnertoi IN regaru
10 matters Of legislation, and would certainly
be the death blow to his reputation. with the
masses of the people Of the nation.
, In saving this, we are not abating one jot or
title of what we have said against tho policy
of extreme imitation. We are opposed to start
ing the printing machines of the Treasury De-
partment and running them until the last i'm
pecunious individual Of the country cries,
Enough The utmost limit to which we would
90 in the issue Of legaltenders is that already
fxed BY both branches Of Congress-s4O6OOO,-
900, This action merely removes all ambiguity
from law which the Treasury Department
has all along construed as authorizing tnat
amount. At this moment, $50 ,0OO, O09 OF the
"reserve" Is Actually outstanding. Inc new
act merely authorizes the issue OF Slo,OOC,OOO.
more, at the discretion Of the Secretary Of the
Treasury, as circumstance may require. 4
Whether this Is likely to be issued, at time
when we once more have surplus for meeting
the national debt, AVID are paying Il on at the
rate of 81 ,OO0, coo month, we leave the read-
err TO Judge. But that the 500 900 900 act Is
moderate, reasonable, and ought to be approved
bv the President, we do not at all question.
AS TO the increase Of national bnnk currency,
there Is much more 70 be said, and We have had
our say heretofore, That has nothing 10 do
with the veto clamor now kept up by Wal
street and the New York pressv7 cineiEnat
Times