National Republican. (Washington City (D.C.)) 1872-1888, 1874-05-02
WEsrsRH1KD soUrHBRH views
or THE YETO.

ion thst the only direct political results 70
be feared from the Presidents veto Of the
Senate finance blu would come from thu
West and South In response TO the evident
demands Of certain classes Of citizens 70
those sections for cheap money: Al the
same time, we have Indicated our belief
that sfser the first flush of excitement bad
subsidized and the subject had received the
sober consideration which It's Importance
deserved. the almost unanimous verdict 81
the people would be In approval Of The act
BY which the ceuntry has been saved from
probable trouble regarding the possibility
Of resumption: As the mails reach be ai
this late day, bringing from remote sections
Of the West and South the newspaper reflex
Of public opinion. we find that our predio-
tons were correct In Wisconsin. In Ill.
nois, In South Carolina and In North Caro-.
lima the indications are the same. The &C.
ton o. the President is accepted as dnal
determination Of the course which financial
legislation must take during the remainder
OF This administration. Congress must move
IN the direction OF redemption Is the infer
ence directly drawn, and the people have
settled down, both borrowers and lenders,
to distinct understanding that they
may rely on that course as the
basis OF pending ana prospective
commercial transactions. They DOW 10 tnis
decision with harmonious accord because
its IN tnorougn consonance WIN tne pledges
oil the hepuoncsn parry ana because I" Is
CONSISTENT VIA tne record maue ny INC
freSioen1 N repeaVeo messages W SonsfeSS'
Inc creoh Oh inc naiion, says inc 'anes-
aiHe W iSconsinl 0aes''s' Is u much moro
importance 'nan any au'an'ases W 10 ae-
IiSeu liolh auu,'ionAi ISSUES efen 4 'nsfe
were no o'ner uAnseis W DC appreneuueu
non pursuinga poiicy WHICH, d Dess -
OF oououui "iSuom and IL cannot DC oe-
nied tnat TINS veto VIII 90 more 70 estao-
lisn commence In the integrity Oh the GOV
ernment az me moneyea centres OF the
wofiu enan any otner act Oh PRESIDENT
drant administration. Europe mas invest
ed largely In our railroad securities as wen
as those OF tne government many oil tine
FORMER nave proved worthless, ana others
nave ialieo 10 resilze the DIVIDENDS winch
tne represensaeions maae 70 purchasers
wnen Iney "ere sou leu tnen 70 expect.
Inc result mas Deen tnst the commence
Oh european capl.ai'sts mas Deen shaken
N al cia'ses Vi Aiheiican securities
II tne 0o'ernment had AAen this STEP
unimporsant perhaps In itseu' IL
Wouio nave Deen received as an lnuicauon
tnat tne people Oh tne United states mad
entered upon q polcy which II pursued,
must ultimately auec' tne Vaiue OF all
GoVernment promises. and' as an inevlta-
Die result the loss Oh commence would
nave cost US vastly more than any tenn
'Porary advantages 10 De derived from inc
aooptlon OF TINS measure Oh nnance. Inc
nnanclai word looked on win admiration
AT tne nerolsm WIZ winch tne people OF
the uni.ea otates allowed themselves 10
DC neaViiy taheo ior years aitef tne close
OF the war W pay our noating oeos winch,
In tne iorm Oh unsettieo accounts ana goid
ana inIerest-Dearing certincates' were I'M
paia ana mao not oeen Incorporated into
the funded debt Oh the nation as Wellas to
reduce the national debt several hundred
million dollars. 1t was by this policy we
'estaoilsnea our creoit abroad after we had
conducted TO successful issue the most
giganuc CIVIL war on record. ana It is
only by continuing In the same direction
that we can from time 70 time refund the
national debt at lower rates OF interest
we have no doubt also that In this direc-
uon only can we successfully restore econ
'omy In pubic and private Life.
There can be no doubt as regards the
motive which prompted the utterance OF
such thoughts Inc harunfscarum, wild,
western improvidence which provoked the
organizanon and nuiit INTO power the farm
ers party IN Wisconsin may still hold sway
In the minds OF minimizing men; but the
fact that the Changers are alive and that
they have begun TO investigate existing
conditions with the sole purpose OF throw
ing aside the aliacious theories and unsub-
stantial systems which have wrought their
partial ruin Is sufficient to warrant this
kind of an appeal to their better judgment.
Senator Howe no doubt knew this to be
true when he Joined with the men of the
East as he did, in direct opposition to the
impulsive drift Of Western opinion in favor
of imitation, without any certainty regarding
resumption.
In the South. strange and inconsistent as
it may appear, the denunciations OF the veto
come from Democratic sources. The bill,
it must be remembered, was virtually the
offspring of the immature study Of Senator
Merrimon, q North Carolina Democrat, and
che hard money" Democracy of that Sec
ton, 1t might have been expected. would
have proclaimed him recreant to his duty
as representative of people who, In the
political history Of our country, have never
before given the slightest evidence of faith
in or desire for Cheap money" Yet the
debtor class is 50 largely in the ascendant
In the South now that Its necessities work a
powerful influence, and the result is an ap-
parent inconsistency In the attitude Of lead
ing Democratic journals of that section. On
the other hand. the Republican journals.
now that the question has been forced upon
them as pertinent topic OF the hour,
do not hesitate 70 sustain the