The Portland daily press., 1874-06-09

But how vast the prepOnderance of odds in fa-
vor OF the later combatant. The experience of
ages the lights of science, the laws of political
economy are all on his side. He is encounter
ed solely by the towards plea for delay. 'Not
YETI give us little more timer "Wait
till we are better prepaledp' The real meaning
OF this is, ''wait till we have sadded our bur
dens upon somebody else's shoulders, and then
we will begin the journey!' But even if it
were consistent with ethical justice to per-
NIT the transfer of the penalties of
imprudence from present to future cul-
prits, there would still be no excuse for delay.
The welfare of the country demands speedy
settlement of the financial question. 1t has
been kept in allegiance too long already. The
element of uncertainty enters into and battles
every business calculation. Trading on a de-
preciated currency is nothing more nor less
than gambling. The repeal of the legal tender
act is the obvious sequence and finale of the
rebellion, which occasioned its enactment
l strongly entertain the belief that the OBJ
Stacles and perils which lie in the way of early
resumption have been greatly exaggerated.
The supply of coin, for the moment avala-
BILE, is undoubtedly inadequate. But that is
simply because we have driven the precious
metals out of our borders. Our own country
produces an hundred millions of gold and sill
YER annually. Whenever the laws of COM
merce compel return of the coin, we have
been constantly exporting, it will come in suf-
ficient abundance, for all our wants. If trea.
sury notes were at par to-day there would be
very little demand for their redemption, I
have no doubt, whatever, that when resumption
does come, it will happen SO naturally and
quietly, that every body will wonder why there
was so much apprehension about it and why it
was so long postponed. We have grown so &C.
customed to let 81 dare not wait upon
would that we have fallen into the error of
supposing that the restoration of the credit of
the government is one Of the hardest problems
that human ingenuity was ever called upon to
solve-an error inconsistent alike with statisti-
cal facts and national pride.
The courage and manliness which the Pres-
dent has displayed in this matter will have the
effect to increase, if that is possible, his hold
upon the confidence and esteem of the people.
The secret of his great popularity, lies in his
utter neglect of the arts by which smarter
men might seek to gain it. He never hesitatss
to pursue any course to which his convictions
lead him, irrespective of considerations of praise
or blame. Itcertainly is no light tribute to his
merit, that so much is said and written in refer
ence to his becoming candidate for a third
term. There is in the very suggestion an
emphatic recognition of his great ability.
But it must not for moment be supposed that
he is party tc, or sympathizes with any such
innovation. There are no circumstances I'M
der which he would listen to the proposition to
run again for the Office he now fills so credita-
bly,. When his second term shall have been COM
pleted, he will retire to private life, of his own
volition, laden with honors earned by military
and civic services without parallel in the
records of the century. The measure of his
ambition will be full, # in his valedlctory he
shall be able to congratulate the American peo-
pie on the complete restoration IF the Repub-
lie to the condition of financial solvency,
whence it devated in great emergency, only
to save the union from dismemberment.
H YARMOUTH.