Wilmington daily gazette., 1874-04-10
VIOLATED PLEDGES.


solemn pledges 10 the people, given 70 them pur-
posely TO secure their sufIrages, those who sup
ported it with their votes, under such promises,
must be absolyed from all obligation 10 continue
such support. That this is precisely the position
of the Republican party no enc can derry. lis
pledges are too fresh in the memoir Of the psorly
to DO forgotten but if they should be tol the
moment, memory may be easily refreshed from
the recorded pledges Of the party printed under
its own authority. Our Democratic readers know
this, and so do most OF those who are now labor
ing to support the Radical party in Congress
which is endeavorng to pass an act to initiate the
currency and put oil the return to specie pay
ments to al indefinite period, in violation Of oIi
its pledges
That the Rcpub' b''can Parry is responsible ior
this action, should Congress pass the measures
before it there can be no doubt We 10 not ash
our readers . .lke our word for This. We Tcirr
them TO authority that cannot be questioned on
account OF political bias. The New York h'''c'
pendent, re igious paper, that has uniformly Ii
vored the Republican party now chmges 1t So
forcibly with the Icsponsbilii. that theI, i 40
escape:
From the Independent.
"rhc Republican party, through Its representa-
live men in Office, has lad complete conlIoi oi
the General Government since 1850. The policy
pursued has been its policy and in all the leading
features thereof it has been tIiumphantly endurs-
ed BY the people. Many OF the issues mark my
the path OF lis SUCCESSIVE victories have passed
away; and, hence, no Longer reine'n as matters
of dispute. The great question which is now oC-
cupying public attention, and upon which Con
gress for more than four months has been engaS.
cd in a very sharp dcbatS, IS the financial piOp-
lem. The wisdom or the want OF wisdom with
which this one problem sha'l DC solved Will very
largely determine the future OF the Republican
party. II is so overwhelmingly iu power IN botl
houses Of Congress that the country will justly
hold it responsible for whatever meas ures may bt
adopted
ln 1869 this party, speaking through its repre-
sentative mon in Congress, planted ilscI upon the
doctrine that the faith of the United states sol
emnly pledged "to make provision at the earcs
practicable period FOL the payment OF the Un,tc'
States notes in coin" The act of which this dec
laraten is part was entitled "An Act to strength
EN- the public credit" 1t was the first bill signe'
10y President Grant. In his first annual messng
the President said
Among the evils growing out OF Tie Rebellion
and not yet referred to, is that OF an rredecmabl
currency. II is an evil which hope will recciv
your most earnest attention. 1t is duty and on
of the highest duties OF government 10 secure
the citizens medium Of exchange OF fixed, un
varying value. This implies return 10 4 spccl
basis, and no substitute for it can be devised.
should be commenced now, and reached at III
earliest practicable moment consistent " I'll q ia
regard to the debtor class"
The last Republican National Convention said
awe witness with pride the reduction OF the priI
cipal OF the debt and the rates Of interest on I'll
balance, and confidently expect that our xcelleI
national currency will be perfected by the speed
resumption OF specie payments The Iresidei
IN his last message said shat we can never hay
permanent prosperity until specie basis is rcacl
el.n He added:
"The exact medium is specie-the recognize
medium OF exchange the world over. That Vi
fained we shall have currency OF an exact {
gree OF elasticity II there be too much Of
ior the legitimate purposes of trade and con
merce, it will flow out OF the country. If tC
little, the reverse will result
We might multiply these references Inde
nitey 10 show what has been tic aycwed PC
icy OF the Republican party, and what are Il
pledges which il has made to the luIi.c III !
spect 10 the financial question 10 party q
be more solemnly committed 10 adopt SUI
measures and such only as are adapted 10 bril
tle country back 10 the specie measure
values sat the earliest practicable period
What the present Congress will do no man can
yet tell, since confusion almost confounded seen
10 reign i'll ii3 counses. so far as its final acti
can be anticipated by the votes already take
the Mortons, the Logens, the Kelleys, TIL Butle
aud the class represented by these men appear
be In the majority. At any rate they oppose Al
vote down every measure that even squnts
wards resump' ION OF specie payment. rlt
theory, il carried out, puts far of the day Of su
payment aud greatly augments the difficulties
ever gaining the end No man in his senses q
suppose that the addition of nearly hundr
millions TO our paper circulation, not dollar
which is redeemable in specie equal to Id
commercial value, is the road to a return to 1
worlds standard or measure of value. 1t lea
in exactly the opposite direction. As Gcne
Hawley wisely and truly said, in his rect
speech in Congress: "And certainly there is
road to resumption through expansion cyct
the road that passes through population