National Republican. (Washington City (D.C.)) 1872-1888, 1874-04-29
TEE KoTE WON we YETo.


1t is, perhaps better always to do moth
ing than to do positive evil, In this view
the vote Of the Senate yesterday upon the
currency bill returned by the President
without hh approval is all that could
be desired As it was too much to e1-
pect that the Senate, would attempt TO
modify the hill 50 as to conform to the views
ofthe Executive, the simple vote upon the
question Of is passage, Notwithstanding his
objections which Is required BY the Con-
stitution, was all that was necessary. Tho
vote indieates no change Of opinion upon
the part OF any Senator. ! l.'3 'a5a.a
The conundrum which now appears TO be
agitating TIE Congressional mind Is ow his
Il possible 70 make money plenty for their
various constituencies, without its being
labored for and earned. Numerous bills
have been introduced into the House pro
viding for changes In the national currency.
Most Of than are remarkable in that they
seek to avoid the only vital issue before the
country. Redemption of legal tenders in
coin has long been Promised and Is ex.
pected. Any act squarely providing for II
win restoes confidence. With confidence
fully r8tossd will come an active circula-
ton Of tie present volume Of currency,
which win be found fully adequate TO the
necessities Of the country. The bank state
ments show that nearly double the required
amount Of hgal tenders is-now in possession
of these Institutions, awaiting the requsi-
lions of spring business. 80.
1t is no part of the duty Of Congress to
provide banks with an unlimited amount OF
currency 70 loan upon the hypothecation Of
worthless shares in undeveloped mines,
quarries and unconstructed railways. Il
is obvious that there is now an abundance
ofcGrrency for legitimate purposes II has
ceased to circulate freely because OF the
prominence Of bad faith IN the community.
AZ l-as--'ss Ms beer. " q great svts-.
superinduosd by the action or congress In
attempting TO repudiate It's promises The
first step toward the restoration Of conf
dence, therefore. should be taken BY Con-
gross toward redempt ion. When this is
done active circulation will recommence
and all legitimate projects viii be sustained
by capital. .. ....a. sr. .. -.a..F
The false idea that the authorization of a
redundancy OF currency by the Government
will necessarily make money more plenty
with the IaborIng and producing classes
must be dispelled. 1t simply stimulates
speculation and extravagsnce and profit
gacy among the non producers-the drones
ofsociety. --.- ...- FL
The labor Of the nation should be proflta-
bly, and constantly employed in the produc-
ton Of wealth, and capital should receive
only its fair share Of the profits. To secure
this the basis Of our currency should assim-
ilste with that Of other nations. Legislation
in direction the opposite to this tends only
to the decentralization Of our labor system
by the enhancement of the cost Of living
more rapidly than the increase of the labor
er's wages It is for this reason that we
say that in the matter of legislation upon
the currency il Is infinitely better to do
nothing than 10 do positive evil Previous
to the meeting Of Congress we had virtually
arrived at specie basis. To travel back
ward toward imitation would be positive
evil. The veto has saved Us from that for
the present and let US now take the sober
second thoughh