The daily gazette., 1874-12-24
From the N. 7. worldl
Sherman's Financial nm.

In GerQme's great picture Of the
Roman Amphitheatre, the gladiators
pass before the imperial seats and cry:
Hail, Caesar, those who are about
to die salute thee Ace, Imperator !;
n1oriturs to salutant. So the compact
Republican majority in the Senate,
without debate, ~
Theirs not to reason why,
Y Theirs but to do and die"
wheel into line at the order of Sena-
tor Sherman, cast their solid vote for
his financial bill, so making humble
obeisance to the very ghost of that
supreme power, whose approaching
shadow fell upon them in the fall cleo
tions and revealed their empty purple
seats. The dying Republicans salute
the rising ruling Democracy.
Not one step towards Specie Pay.
ments had been taken by the Republi.
can party since the close of the war
silenced the last false pretense which
excused imitation. Pledges innumer-
able had been given in its party plat.
forms and acts Of Congress. All were
violated, and worse. For, since Gen.
Grant was first elected. Congress and
the President had united to initiate the
currency, every year steadily increas-
Ing the difficulties of final resumption.
AT the very last session, after vetoing
laundering measure of the imitation
lists of which the first result would
probably have been Contraction, and
after the Nevada Jones pronuncia.
miento for Specie Payments, Congress
passed end the President signed an
act increasing our inco.lvertible- cur.
rency. But the dead" Democracy
came to life and won the fall elections
triumphantly, demanding through the
great commercial States 'steady steps
towards Specie Payments no step
backward" And now the Republi-
can Senate vote solidly for Sherman's
bill making public pretence of taking
a first step towards Specie Payments.
But specie-paying Republicans uni.
ted yesterday with Initiating Republi,
cans to pass without debate Senator
Sherman's Bill. The alliance would
be impossible II its pretence of steI
towards Specie Payments were moi
q sham. Only In the fear of politica
death would financial vice have paiG
such homage to flnancil virtue, or vir
tue accepted the imputation of sucf
kinship. Senator Shermah's 8 bill will
advance the country not one incl
towards Specie Payments. Its pre-
ltence of doing SO Is false and brazen
lrfiationists knew 1t, and not one o
them failed to vote AYE" Discus
sion IN. open Senate would hav,
stumped the bill as measure of in
f1ation, therefore discussion was no
allowed. 1t is the old story. Speci,
Payments In the platform Imitation BY
act OF Congress- Specie Payments II
Execctiye messages Imitation by ex
ecutive usurpation and legislative en-
actment. .-.' -
1t Is perhaps doubtful whether Sena
| tor Sherman, who once confessed him
self ignorant of the difference between
protective and revenue tariff
knows what the actual effect of his bill
will be, with Its proposed silver fo
shin.plaster currency, its free coinage
Its substitution of $S82, 900, 600 lega
tender notes plus 1854, ,00O, 900 nationa
bank notes for $500, COO, 900 legal ten
der notes plus $466, 500, 900 nationa
bank notes (736 million unpaid pape
dollars replaced by 728 million unpai,
paper dollars and finally its millennl
: um Of redemption unavoidably post
| lponed till January 1879, and as far Of
, then as ever for aught that Senate
Sherman ever did or will ever do. !
| is indeed possible that he Is ignora nj
/ but we are not charitable enough T.
/ think 80. His bill should be labelle,
! "Sherman's Sham. ~ ~ +.