Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1874-06-09
rot.fcy W. PRINCIPLE.

President Grant. for the recent
promulgation Of a "nsmsrandum
the currency question. In which
strong ground Il taken In favor OF
specie payments, with contraction Of
tho currency a. . medium to accom-
plish such a result, and In which also
arc indicated the elsmentI OF a plan
which would, II enacted into law,
meet his approval. Is accused BY the
in1a,ienists Of an attempt to break up
the Republican party. The West, l. q.
the Mississippi Valley, Is represented
n greatly e~xssperatsd and as con-
demntng hlm In unmeasured terms,
and, furthermore. as emphatic In de-
claring that it will never agree TO such
stringent propositions. IL Is also said
that the President. although supported
In principle by many Eastern Repub-
llcan Senators and Members, Is re-
garded to have, In a party sense, made
q mistake.
This may DO true, but we doubt IL.
This question Of imitation or rssump-
ton Il one OF the vital, indeed the
most Important issues Of the day. IL
Is question Of business honor. Of Ma
tional morality. lt deelslon places
the Government In the list OF honest
nations, or ~stigmatizes IL as pledge
breaker, n Nation unworthy OF further
trust among tinanciers OF the world.
In short, unless the pledges OF the
Government are to DO redeemed as
specified, the Nation Is theoretically,
n not practically, bankrupt. Con-
grsss passed a law which provided for
a large addition to tho currency clrcu-
latIon. The President vetoed the bill
aud gave sound reasons for this action.
Directly. and before the smoke OF the
first battle had cleared away, another
bill vas introduced, somewhat modl-
fed to be sure, but enbodying many
Objectionable features. This was
forced through the Senate, and Is be-
Ing pressed TO . final passage. Its
provisions are %antagonlstlc to the
views OF the President as ex.
pressed In his veto they neg
alive the assertions. resolutions
aud legislation OF the Republican par
ty during tho past nine years; they
are Essentially opposed to the views
OF the President, AZ expressed In each
inaugural and message since ls6s.
Now. what shall the President dog
Let his sentiments DO known. Avoid
delay. expense and useless debate upon
a bill which he Is bound by every OBJ
legation OF consistency and honesty TO
veto, and In n manner at once delicate
and frank. ayow his sentiments aud
place further responsibility ,pon Con-
gress. We think he has done right.
But as to the disruption OF the Re-
publican party now threatened by the
"Grcat Vest" II to save the credit
OF the nation. to stamp out the specu.
lating fever which, cngendsrea by the
Issue Of these notes has been raging
Ter years, and lately eliminating Ia
widespread disaster, still burns. await
Ing resurrection by All imitation OF the
currency. II bs necessary toibreak up &
party. let IL be shattered. From la
remnants will be formed a stronger
and moro powerful Organization,
whose basis shall be not dishonesty.
but honesty; not population OF 1t,
promises, but redemption Of Ito pledg.
o.; not bankruptcy, but sol,ency /;
not credit but cash. Tho Republican
party stand, pledged to these prin-
ciples. Its legislation has, until this
session, bsen fastened to them. Its
Executive stands pledged to their sup
port. IL there are Republicans, DO
they many or few. who cannot or will
not longer keep the pledges one made
and ois repeated, let them leave and
organize an opposltion. They are not
Republicans. The party which they
form can have no infuoncs with those
who believe that nations like indl-
vldnsls should pay their debts and
keep their promises. The Republican
party need have no fear from the
secession OF such elements. Their
places will be quickly filled by better
men. IL may be that President Grant
has not been polite, but the principles
no announces are correct and will
surely succeed.