The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-08
THE INPANY OF INITIATION.
Strong Appeals from the Admin
istration Press.
What the Chicago Tribune, Albany Journals
Hartford courant, Troy Times, New Haven
Palladium and Boston Commercial
Bulletin Have TO Say

Bulletin Have To Say.
few days ago we published brief extracts from
influential journals in opposition to innation, and
to-day lew more are presented. II any one be.
heves that the West is unanimous for currency exs
pansion because OF the votes OF her representa-
tives 1t is great error. The majority OF the in
nuental journals OF the West are In hostility to
Congressional tnkering with the credit OF the
country, as has been shown by extracts heret0lord
given from the Western Journals.
The Albany JOURNAL one OF the ablest support-
ers OF the administration, in Its Mondays issue
has q strong leader addressed to Senator Norton,
''as tue acknowledged leader of the tnnation poll
ICY" in which 1t compliments him upon his great
ability as q statesman and asks
How. then, does it happen that You are 60 ut
terly infatuated ON this subject or lnhationf How
do you come to be so singularlY possessed with
justly make pretensou to many high qualities Of
craftsmanship. You are not ignorant OF the
not a nation-n0, not q single one-has ever fallen,
under the poisonous influence OF irredeemablo
paper or ever attempted to borrow relief by fresh
Issues without going the road OF bankruptcy and
disaster. France tried II and her inflated asslgnats
was ssa By a.
mere ana fraction sn0 on doar Austria senSn tired
ton and disaster from which she has
never yet extricated herself England tried 1t and
suffered crash In which 200 OF her banks went
Continental scrip became worthless. Point, II you
can, TO single instance where the experiment.
has been tried With different results. The search
Will be IN vain There is not one. The lesson Of
history Is as uniform its warning is impressive
reach the point where the descent OF these other
nations beganp But you have reached II. You
rnas Is peessy Inc they
trod: war compelling paper issues; paper
ssess CURRENCY se"s the
for more; temptation to use the war resort IN
time OF peace and to meet current expenses BY
setting the printing press In motion; the appetite
growing by what 1t feeds upon; issues pilng upon
Issues until the great bubble colapses altogether
You are on the edge or the rapids. Hundreds have
noated there before and thought they were secure.
But before they knew their danger they were
caught IN fine eddying whirl and plunged over tho
abyss; and so Will You and your country be unless
you pause and grapple The firm shore. Be not de-
ceived. There IS no charm wncn can save you
and yours II you tempt Niagara as Others nave
done.
After referring to Mr.. Mortons views expressed
upon imitation In previous years the Journal con-
cludes:-
You have ambition-not the mere vulgar ampi.
ton OF holding place. but the honorable ambition
or making an impress upon the progress Of your.
care, then, how you identity your name with this
innation craze. BY and by the people win wonder
how. in this second hall OF the nineteenth century.
with all the examples OF HISTORY before him, any
Senator pretending to the rank OF statesman could
Tor q single moment yield to such wild madness.
Imitation win then be Us disgraceul Us Reputation.
BE warned in time. Rise up above the dangerous
folly which surges around you. Lift yourself up
the plane OF true greatness and instead OF daily
Ing, like the demagogue, With tins hereSy, give
your abilities ana your power IKE tue true states.
country.
The Chicago Tribune conservative republican,
endorses all the arguments IN the HERALD article
headed .Innation Means Civil war; except that
which suggested that between the East and
West might result from imitation. 1t declares:-
many persons in chicago opposed to innation as
! there are in New YORK or Boston. Pennsylvania Is
manufacturing corporations and financial adven.
turers. the great moving power in Congress and In
there are rom the o wes c aVa
imitation, in order to divert public attention from
the salary grab and other unpleasant issues IS
true; but the proportion OF Intelligent men
who clearly see tue inevitable effects OF whole
sale imitation Of w.u the currency is az
the East. There is fuiiy rs much at stake in the
] West as there is at the East, and II the time
| ever comes for lighting IN defence Of ones prop
erty and savings there Will be as much lighting
done here at the West as there viii be at the
East The war wiz not be between sections. the
fight will take place In New England as well as in
Kansas, IN New York rs well as IN Illinois. When
not buy loaf OF bread q pair Of shoes nor d
bucket Of coal then there Will be lighting. The
trine OF the sonals, that the nrss purpose
OF government is To feed AID clothe and house
the people, are now backing Logan and Morton
and North and South Carolina, IN their demand
Tor an abundance of 'cheap money;n and when
the time comes as come 1t must, when the wlo,o
OF this worthless trash Is held by the t0ilers and
workmen, by the poor and needy, and when no
man will take 1t In exchange Tor bread or meat,
what will Logan and Morton have to say to the
deirauded and starving millions who own the dis
ing paper legal tender with not cause it to ex.
change for bread. No man Will give credit when
ne has TO take rags In payments oil the debt And
what Will happen next 1t needs no stretch OF the
Imagination TO conjecture.
The Troy Times administrator writes very
vigorously in opposition to innation, and dc.
clares:-
Agrave responsibility rests upon the President
in these matters. He has been honored by the re-
publican party and Is bound TO protect 1t, as well
as the country, from bad legislation and reckless
executive departments. Congressional demagog-
ism and departmental ineticiency and neglect
OF the republican party and derangc the business
OF the country, whlle the President holds in his
hands tae power to neutralize their efforts. The
peril Is real one, as every observer OF passing
events must know. The honest. thinking masses
OF tne republican party WIN not permit themselves
ment OF pedge-breakng and currency Imitation.
nor VIII they countenance the retention In once
OF men who, by their own Confession are either
cupabiy negligent in respect to Official duty or in.
competent TO properly discharge 1t.
Equally emphatic is the appeal OF another ad.
ministration Journal the New Haven Palladium
which thinks that at begins to look as II Pres-
dent Grant may yet have the pleasure OF writing
veto message that win be heartily sustained By the
good sense OF the people. II we believed In doing
evil that good might como we should IKE to see
the antt-iniation Senators change their tactics,
and, instead OF Intellectually opposing inaation BY
their votes, use them to make the measure as out.
rageons Us possible. The President might not feel
JUSTIFIED in vetoing bin which should limit the
currency to $4oo, DOC, oo0 but II Congress insists
upon going beyond that limit we hope he will re.
member the powerful weapon with which the con- 4
stituton has armed him.
The Hartford Co1uant Governor Hawley's paper.
which has given the administration generous,
although not blind. support, says that 1--WE have a
right to expect that the President will promptly
veto the imitation measure which has passed thu