The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-10
THE SIN OF INITIATION.
viii President Grant Note the Warnings q
the Party Pressa


Below win De found additional extracts from
some OF the leading journals OF the country upon
the sin OF expanding the currency:-
The Cleveland Leader administration repu.
dates the charge that the West is in favor OF re-
pudiation: declares that all the leading Journals
with, perhaps. half dozen exceptions, are a
firmly opposed to it the press OF New Eng
land,n and. as proof or this Instances the action
OF the Boards OF Trade OF Chicago, Cincinnati and
st. Louis. 1t remarks:-"There Is in the West tho
same diversity OF opinion on this great question
that there is in the Middle or Eastern States with
the exception that there Is Western State 80
unanimous and determined In favor Of imitation az
Pennsylvania"
Discussing the lnnation question the Cleveland
(Ohio) Plaindedler (democratc) decares:- ID
wild rnkering all around, and the business OF the
country has to pay Tor IT,"
The Fond du Lac (Wis) DdtlV Commonwealth lad.
minstratlon) hopes I'm referring to the act Of
Congress) s'that this unwse action will result In
teaching the people, though the lessen may be
bitter one, that promises to pay are not money,
and that TO multiply them Is not to enrich. but to
tmpoverlsh u.s. and that to temporize with a vicious
system OF finance will only aggrayate and make tho
day OF reckoning more formidable when 1t does
come"
Speaking OF the minority who forced the lnt.
qutous measure upon the country the St. Paul
(Minn.) Pioneer democratic organ) says
They have no real conception OF such things a.
principle and the inevitable effect OF violated laws
OF trade. Their ideas. indeed, warery and
gaseous as the wretched paper bubble they have
adhere to the right and opposed the miserable
sham and aDominaton. II any credit attaches to
the performance 1t belongs to the republican ma
jority. Democrats wash their hands OF the int
guilty. oleseeing as they do the inevitable end oil IT,
The Newport IN. H. Argus (democratic) is very
indignant that democrats loaned their votes in
favor Of imitation, and expresses the hope that
"the party viii unite in denouncing them as they
have in denouncng those who were implicated in
the Mobilier enterprise, or even those who voted
for the salary steal. Their offence is rank; It
smells to heaven"
The Baltimore Gazette (democratic} closes an ar.
tcle on 'sThe Financial Debauch' rhus:-
Whether the. President. with the opinions he IL
reported 10 hold on the subject. Will conform his
acts 70 his opinions and respond to the hopes eX-
pressed by the Boston merchants, by putting hts
veto ION all bills tending to innate the currency.
specie payments" depends upon whether he has
the lrmness TO stand by what are said to be his
a direct issue with the republican majority IN Con-
gress, led by Morton and Butler and other promi-
violating the public faith ana who, in seeking to
attain their own selfish ends, have shown them
selves as devoid OF conscience as they are OF the
first principles Of craftsmanship.
The Mobile Register, edited by John Forsyth,
after recalling the oit-repeated promises OF Con-
gress and the President to strengthen the public
credit and return TO specie payments closes with
these words, which, coming from one OF the most
influential Southern journals, are Significant
Years have rolled by, one administration has
ended and new one Is entered upon, and now
find his Congress, in both branches, with paper
money imitation on the brain, turning its back
upon all the learning and experience OF the world,
running headIong away from the promised specle
basis" and plunging the business OF the country
inf T." man a narfQ f n w Inn INN
in panic ana ruin. The votes in Congress on the
incipient measures Of innation leave no doubt
what respect that branch Of the government
means to pay to its promises
The Kingston IN. ~ Argus (democratic) asserts
that s'the democrats in Congress failed in their
duty to the principles OF the party, and meet, as
they deserve, the severe condemnation OF the
democratic press, which speaks the sent ments OF
the Masses"
Referring to Governor Dix's message on inna.
ton, the Albany Argus (dcmocratic) remarks:-
Notwithstanding the fact that the protest OF His
Excellency VIII iall UNDECIDED upon the listless
OIL besoted congress ana tnat
effectiveness upon that stolid and stupid body the
zen rs y timely ana a. oPportnne Sos
pertinenty remarks VIII the Legislature have tho
CONSCIOUSNESS. in the midst Of the desolatng
qnences but their action may not be
UNDECIDED bv the President, in whose hands
stii HIDE the unseen forces which shall either stay
the storm Congress would gather, else release
its lures, TO the final destruction OF the material
interests OF the country.
The New Haven Journal ana courier, controlled
by Postmaster Sperry, says
The sole hope OF the country now lies in President
Grant. Seldom nave the wealth and intelligence
OF the lana been unanimous any question.
The issue Is not sectional at all, except the
great centres OF civilization anu intelligence
mostly located on the Atlantic coast. Wherever
there exists any real knowledge OF business, and
wherever there is large and enlightened conmu-
a "a mar ~ ~ nos
ments. Wherever we find ignorance anu passion,
communists and demagogues, we md the advo-
eral Grant. who is President of whole country,
will use mis- constitutional power to repci the as
saut OF an unworthy Congress our national
honor and prosperity. Otherwise the Barnums OF
the twentieth century will exhibit gold among
their rarest curlosities.
The st. Louis CODE an earnest supporter OF the
administration is very pronounced against the
iniquity
The worst enemies OF our country could hardly
invoke dee, humiliation than the record Oh the
past iortnients voting in both houses OF Congress
on financial questions, and 1t would be hard to
choose between ascribing the humiliating results
to TO-, dishonesty or stupidity One could feel some
makes his seat In Congress an ambush nom which
to spring out upon the intercourse OF nations; one
feels about the same admiration for a Congress
sional repndlationst as for dashing highway rob-
Der; but the miserable potterng about plain
were put forward excuses Tor undertaking an
obligation that there was no intention OF dis
Charging, TeHllnu one ratner Oh tue UaHEuVFcS
OF sneepisn spendtnrft VINO il try.
Ing TO OBTAIN trining advance from Q
friend to whom he is only too well known.
The fact once settled that a majority OF the
members OF Congress were innationists. 1t would
ton they would choose. Situated as we are ct
present, imitation can mean only one thing Inc
government OF the United states having issued
more OF Its notes than 1t is able to redeem, innae
tion means that 1t shall issue more OF them. and,
as necessary coroIlary, that It snaIl put aside In
definitely the thought OF attempting 70 Tedeem
them. II can make but very little dinerence
whether the needless addition to the disnOnored
currency be sent forth under the SIGNATURE OI
General Spinner under the signatures 0ivarom
bank presidents whose limited liability Is attested
by the certificate OF the Treasury, as long as those
who issue them content themselves with promising
TO pay a dollar and most hrmv resolve never 20
keep their promise. They are birds OF feather.
as like as two peas, and as equal IN point OF SER
VICE &c two Counterfeit notes on dtnerent banks