, 1874-06-09

''' from tht lhet0 + orr 13Me6.
This statomnns Of yicwa Ia clear. comprehen-
e,7e, and concise. It will meet with the hearty
approval Of all those who appreciate the enor-'
nous dangers and evils Of IN irrodoemablo cur
rency, and tue Importance Of promptly shaping
the odurso Of the natlon toward . return to apo
Gle payments. The views Of the President have
boen matured slowly. Had he reached Ills
conclusions few years sooner, and
baen able, to throw his influence
into tho scale In, favor Of sound cur
renoy, by the Recommendation OF the, precise
measures he now -auRgests, at tho commence
mont of his first term, doubtless. tho country
have: for years labored with all the energy
Of profound conviction for tho establishments
of correct principles and the foundation Of q
solid baais tor tho business affairs Of tho coun-
tho' President has sought tho Same ends
as ourselves II ho has arrived q little
tardl1y at specific Recommendations 1t must bo
acknowledged that he haA moved aa rapidly az
tho general opinion Of tho country, aud cortain-
y there nover was d time when the conservative
aud practical suggestions be noW advances wore
more NODDED. While The Conference Committee
OF tho two Houses OF Congress aro tloundering
about in vain effort to diHoover how much infa
tion will Induce the inflationtst. to nuke prom
iso OF conditional resumption at q distant day.
1t ia roasBurinR to contemplate tho olear and
distinct steps toward tho payment OF the Gov
eEnmeut notes recommended By tue President.
And these are speoia'ly roaasuring, because thoy
give tho bost possible authority for believing
That no absusd patchwork measure, such AZ the
Committee are reported to be oontriving. can
vince tic country that, even II the views Of the
President do not prevail, there will be steady
influence e1erted in their favor, aud, In the
meantime. tho, vetC-rowor stands hn invincible
barrier against further advance toward inaa.
tiou. ,.
From The Es,o I'ork Epentng Post.
Tho President for mora than i've yeara has
way to bring our demand obligations up to par
value In gold, but having finally got rid Of the
last exponent OF tho mistaken theory that the
Government could best pay ita demand obliga-
for tLis purpose, in order to buy up debts not
due for from ten to tWonty years, It Ia fair 70
suppose that lie now Boos tho ahsurditJ OF this
theory; that he has discarded 1t, With the two
| and haa sought Tor other counsela and. cor
taiuly, In this search ho has gone to the otAor
extreme. aud has adopted the plan that the bess
way to get to apocio basis is to repeal tha act
| Which tnRkca the Treasury notes legal tender.
In theoEy this plan ia dotens,bio. III practice
IT would at present OF Within o Yaar cause need.
| less destruction. That tho togal-Tonder aot
was wrong 10 one now disputes. That II Waa
question waa adjudicsted: That tue War could
hare boen carried on aud brought to = succoss~
ful issue without the Legal: :Tendor aos, Wo. with
many others. believe, But It having boen forced
having been made tho substitute for qoln, Of
course they have boon used for all the purposes
for which coin tn uaed. To-day the whole bank
iuR ayatcm roBtB on theae notes, as dooB
the entire fabric Of credit, both corporate md
private.
to apacie ba9is, except this Destructive one Of
striking ont At one blow the. very foundation Il