The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-06-08
The President and the Finances.

The views of the President upon the finan-
cial question as given in the Geographic des
patches of Saturday will receive the emphat-
ic endorsement Of every one who desires a
stable currency and recognizes the fact that
real national prosperity can only be attained
by returning to hard money basis. The
mere politician, laboring under the mistaken
coRyiction that the people desire an expan-
sion Of our paper currency, may shamelessly
so back upon party and national pledges
No so the President With him party pledges
have meaning, and the national honor
OF which he appreciates the cost, he is zeal
ously intent on maintaining. His last nom
official message will inspire confidence. Now
the country knows that whatever action Con-
gress may take, there can be no expansion of
the currency, no further depreciation of its
value, no step taken toward reputation, at
least until after March 4th, 1877. Further,
from what we know of the man, he will use
the influence Of his responsible position dur
ing that time to bring the country to re.
sumption of specie payments and to that
currency which is the circulating medium Of
civilization.
The plans of the President for the resump-
ton Of specie payments and for placing our
finances on sound basis, will command the
attention Of the country, not simply because
they are those of its Chief Magistrate, but
because the details of his system exhibit a
statesmanlike insight into the subjectof f.
nance and knowledge of political economy
which completely establish his intellectual
ability to discuss this question with the wsest
In the land.
1t is said that the leading infationists are
in high dudgeon because Gen. Grant has, in
straightforward manner in which he has, an
nounced his convictions on this most impor-
toni subject to the country. Political tri-
fers and make-shifts, they care nothing for
past pledges and past professions. They suf-
feed for the time to ride into power. Now
they are certain that opposite declarations
will tide them over another election or else
seeing their chances lessening in present po-
litical organizations, they are intent on form
ing new party. These gentlemen mistake
the popular sentiment. They are on the
wrong track. The home organs of senators
and representatives, because they are their
organs, sustain certain of them in their views
and thus mislead them. This is the error of
organ grinding. Had these journals sought
the sentiment of tho best men in the COM
munity they never would have advocated in
fation, and the country would not be called
to witness the humiliating spectacle of men
who might have been statesmen, acting the
part of unprincipled time-servers.
A Washington despatch says that the
Democratic leaders at Washington have con-
cluded to make imitation one of the party
principles in the pending elections. With
any other association or organization we
should say that such policy would be i'm
possible, since it would indicate degree of po-
itical idiocy quite beyond comprehension but
the average human has long since given over
Democratic leadership as outside of all pos
sible conjecture. Long since political wealth
er clerks RETAINED in disgust from basing
Democratic probabilities upon past facts or
present indications. 1t will, however, be
very strange if that party forgets its failure
on reputation platform in 1868.