The Portland daily press., 1874-06-30
New York Letter.
The Currency BiIl-FavOrable features of
it-Auguries of a revival of business-fhe
Beecher-T iItOn alfa ir-Some particulars
of the case-The convicted Police Com
MISUNDERSTANDING inconeruous
administration.
New YORK, June 90, 1874

mi ssIOners-Ha lncOnSruOus
administration.
New YORK, June 90, 1874
Now that the new currency bill has become
law tits the part of wisdom to seq what COM
mendable points there are in it, Until it had
received Executive sanction 1 thought it. a
matter of good faith to the public creditor to
protest earnestly against that Objectionable
feature of it which provided for the sweeping
of $26,OOO,OOO cancelled promises into the
circulating medium. That was not act to
be passed over lightly, for if it were once ac-
cepted as precedent, there is no knowing to
what future approximations of the floating debt
il might pave the way. 1t ought to be very
distinctly understood that there must be no
more of that soft of thing If there is any pol
icy to which the administration is irrevocably
pledged it is that there shall be no increase of
the national debt. In so far as this currency
bill violates that obligation, it is indefenslble.
But since we are in for it, all that caa be done
is to insist that this must be the last time,
when, on any pretext there shall be the small
est departure from the rule of right, on which
alone national honor can be maintained.
IHe JHlfu seCtiOu OI Tue ACT makes amends
for the defects of the second and sixth. There
in is requirement of the redemption of ma
tional lcurrency at the Treasury, in legal ten
ders. This salutary provision will serve as
wholesome check upon the national banks, in
asmuch as it operates even more stringently
than the statute compelling the keeping of re-
serve has done in obging them always to hold
considerable margin for the purpose of meet
ing the U. S. Treasury demands. 1t is the APP
plication of the old Suffolk bank system to all
the banks in the country. The people in yonr
section are familiar with its workings and can
judge for themselves to what extent it is like
ly to compel these institutions to keep them
selves strong. Many affect to see in this plan
decided element of contraction. However
that may be- there is a principle of conserva-
tism in it, which promises good results, and it
lmparts as much elasticity to the currency as
paper basis admits of.
There has been since the adjournment of
Congress perceptible increase of hopefulness
as to the prospects of the business of the coun-
try. This improved feeling is attributable large
ly to the confidence felt in an unprecedent-
eddy great harvest in the autumn, about which
the season has progressed far enough to war
rant the most cheerful auguries. The opinion
prevails universally that there can be no severe
pressure for money for year to come So
many OF the great projects which absorbed cap
ital have collapsed, that the demands of bor-
rowers will necessarily be much smaller than
in former seasons, and there is now such an ac-
emulation of unemployed funds that there is
little cause for apprehension that they will
prove inadequate fer the movement of the crops
and the transaction of healthy and remun-
eratiye trade
The week has been prolific of excitement.
The effect of the shock occasioned by Mr. Til
toms extraordinary letter concerning Mr..
Beecher can hardly be overstated. In this in
stance we have an illustration of the adage
that truth is stranger than felton, If Mr..
Tilton's story had been wrought into a novel;
it would have been pronounced preposterous
absurdity. The essential particulars of the case
have been known for long time by personal
friends of the parties. The dramatic coloring
of which they are susceptible has been depend
ent in great degree on the imagination. Mr.
Beecher, as pastor and neighbor, has enjoyed
for years privileged intimacy with Mr.. Til
tons family, has been frequent and always
welcome visitor, and Mrs. Tilton, a quiet, gen
tle shrinking woman, with nothing about her
in the smallest degree suggestive of impurity of
thought or action, undoubtedly conceived an at
tachment for him quite consistent with his cer-
ical calling and her marital obligations, and sa-
vorlng of improperly in the minds of those
only who have chronic distrust of the integri-
ty of human nature. These neighbory rela-
lions were suddenly interrupted some four
years ago. Mr. Beecher ceased to visit Mr..
Filton's house. Mr.. Titon ceased to attend
Mr.. Beecher's church. Both observed a stud
led reticer ce as to the cause of the estrange-
ment After while there came about rec
onciliation, and a renewal of friendly inter
course. But that did not prevent an occasion.
al covert intimation from Mr. Tilton that he
bad in his possession letter written by Mr.
Beecher, acknowledging and expressing contri-
ton for grave wrong done him. To few he
confided the nature of the offense. He alleged
nothing more than that Mr.. Beecher had car
rled his gallantry toward Mrs. Tilton beyond
the restraints of apostolic decorum. No imputa-
ton or reflection was cast upon the lady, Her
conduct was held to be blameess and i'm
peccable. sShe had simply repulsed improper
"o'"hOCo, WIN VIC Splrlt OI an lQulgQaQG
woman. n
1t is needless to say that the tale was utterly
discredited by Mr.. Beecher's friends Besides
being inherently improbable, the ilustrious
preacher has been $50 clear in his great Office,
SO ingenious manly, and observant of every
rule of pastoral and personal duty, that every-
body who knew him rejected as the widest
OF fables the imputation that he had done any
Intentional wrong.
1t has been averred, however, during all
theseyea that Mr.. Tilton had in his posses
sion. the fatal letter before mentioned and
that it contained the proof of the truth of his
allegation. And now fragment of a letter
mas been given to the public purporting to
nave been written by Mr. Beecher, but SO wild
In expression, SO mysterious in meaning, and
so incomprehensible from every point of view
that it is difficult to believe that it emanated
from the pen of the greatest pulpit orator of
our age. On the theory that the lady was with
out fault the vehemence of the self accusation
is extraordinary. If we are uncharitable
enough to assume otherwise, it is the most
singular method of seeking redress and max
ing reparation for such an injury ever devised
by human ingenuity.
There are ill-natured people who allege that
this remarkable paper was written by a third
party and that Mr.. Beecher's signature to it
was obi. ined by threats of instant violence.
and subsequent exposure. There are some
who profess to have knowledge of the subject
who declare that no such paper exists. But
in all quarters, and with one consent, Mr.
Tilton's course in the matter is bitterly con-
demned. To say nothing of such method of
taking revenge for an injury wrought-if
wrought atall-years gone by, and long ago
condoned. the incidental inculpation of his own
wife is an offense against decency, from the con-
sequences of which he will never fully recover.
Mrs. Tilton is the last woman in the world on
whom such a cruel indignity should h ave been
inflicted. 1t will wound her sensitive nature
beyond cure. am informed that she not only
aoes not sympathize with the persistent
enorts OF her husband to bring reproach upon
NE Deecher but, that she holds him guiltless
OF the wrong imputed to him
Ihose VINO are most familiar with all the
facts OF TINS astounding domestic drama from
the Plymouth church stand-point renresent