The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-28

the opening Of the discussion. Strange as it
may seem, the passage of this bill was the first
attempt that had been mado since the war to
determine financial policy. The result is,
unfortunately, that between the President and
Congress there Is what seems to be ON irrecon-
cilable difference of opinion. The President
win sign no bill that does not provide fos the
resumption Of specie payments Congress will
pass no bill that does not provide for . now
issue Of inconvertible currency. But we also
have suggestion that seems to spring from
the audacious mind of General Butler, that the
Senate bill be passed as it now reads, or, in
substance, as an amendment TO an appropra-
ton bill. The effect of such an expedient
would be to throw upon the President the grave
and cruel responsibility either OF approving
the bill or of vetoing an act of appropriation.
There is no executive measure so grave in its
character as the veto of an appropriation bill.
1t stops all the wheels Of government. No
money can be paid out fer the army or the
navy or the civil service. Admins ration
comes to a dead lock. The absolute control
which the representatives of the people hold
over the taxation and expenditures Of the
nation gives them an irresistible power, a
power that has always been appealed to in
times of revolution.
If the infationists in Congress should re-
solve upon an issue OF this kind it will give
ON entirely new phase to the financial discus
sion. It is not new expsdient even in our
American affairs. Dung the domination
of Tammany Hall it was the custam tor the
leaders to introduce any particularly objec-
tionable swindle into the tax levy ut the end
of the Legislature. Then, when some Gov
ernor of easy virtue hesitated to sign the bin,
he was implored to think OF the ruin that
would fall upon so many hundreds and thou
sands of the poor. who would be thrown out
Of employment if there was no more money.
The result was that Governors Of easy virtue
signed the tax levy, and SO from year TO year
the swindles went on, with the tacit approval
of the executive authority. We have little
fear that the President will consent
to any such arrangement. But it
is certain that on issue OF this nature
between the President and Congress would
assume exceptional gravity. The House has
absolute power over the appropriations. and
if it does not choose to vote any money the
machine will come to o standstlL Happily
under our elastic and delicately contrlved
mechanism Of government we have avoided
such controversies heretofore. Nor have we
seen them in England for long time because
in England the government is the expression of
the pending Parliament aud MOI, as with us,
elected for a term OF years. But we have seen
just such crisis in Germany. The Emperor
submitted to the German Parliament bill
determining the quota Of the standing army
as permanent quota, to be raised from year
to year by the government without any future
consultation with Parliament. The Parlia.
ment replied by declining to assent to any
such measure, reserving the right to
vote the army from time to time,
as in its judgment was deemed best,
and not leave it to the uncontrolled
will Of an Emperor. The contest assumed
violent proportions. Appeals were made to
German unity, newborn and tender, and re-
curing military care and nourishment to
the fears of France, who was said to be pant
ing for the hour when revenge would summon
her legions to the Rhine; to the dread of
Russia, which was meditating tremendous
campaign against the Baltic provinces. Tne
Emperor publicly menaced his generals with
the results Of the opposition, q "crisis' and the
violent dissolution Of the Parliament Moltke
the '.man who is silent in seven languages"
took the extreme measure of making public
address warning Germany and Europe OF the
peril Of defeating the imperial will. Bismarck
procured himself to be interviewed" threat
ened to resign and took to his bed in a quar-
relsome temper. But the Parliament re-
manned firm, and the scrisis" was compro-
missed by the Emperor Withdrawing his
demand and the Parliament voting a standing
army for seven years.
1t would be most unfortunate were we to
have constitutional crisis arising out of the
only attempt that has been made since the war
to reconstruct the finances of the country.
But the temper which has marked the discus
sion of the whole imitation question from
the very outset of the debate has been
unpleasant. The argument in favor of infl-
ton was based on sectional grounds and
was consequently to be opposed on patriotic
| grounds. We have had one sectional contest on
the question Of slavery, and VIC contemplate
with horror its renewal on any other issue.
More than all, the honor of the nation has been
pledged over and over again TO resumption or
to policy looking towards resumption. Here
and there statesman of tree Imagination, like
Judge Kelley, or Of grotesque, inscrutable
genius. like Senator Sprague, takes ground in
favor of ilimitable currency, supported also
by General Butler, whose genius, as we have
shown, has the compass-like quality of always
pointing towards any measure antAgonistio to
the country's purest sense. But, with these