New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-22
SECRETARY FISH And INPLATIO

SECRETARY FISH And INFLAIION
There is one person (perhaps there are two)
who may prevent President Grant from
putting his signature to the act of initiate
repudiation. We refer to Secretary Fish.
and our reasons for this belief we will
presently and candidly state. Let us first
allude, and we do it with great personal
respect. TO the other individual to whom we
parenthetically referred. There was rumor
the other day that the President visited
Philadelphia and offered the Treasury De-
partment to an eminent banker OF that city
and of ours, and that the offer, for private
reasons, was declined. 1t was a creditable
offer for the President to make, and it puz-
zles us now as we remember that the gentle
man in question, being man of integrity
and high financial credit, is earnestly OPP
posed to any, the slightest, increase of
Government paper money, and is one OF
the signers to the New-YOrk petition i'm
ploring the President to veto the bill. The
President is apt to listen to Philadelphia and
his friends there, and the idea has crossed
our mind that an earnest word of remOn-
STRANGE, then and there, from Mr.. Drexel
might have had a great effect. Sure are we
that had that gentleman been incOnsiderate
enough to accept the Presidents offer he
would not have kept the seals an instant after
the bill of ruin should have been signed We
think, too, that Mr. Borie, who is man of
high commercial character, would have united
in the warning. AL this, however, is mere
speculation. We now come to facts. -
There is, in our mind, no earthly doubt that
our New-YOrk Secretary can Illustrate this
measure of mischief. The fact of his personal
and pecuniary integrity beyond all suspicion,
gives him a superior influence with the Pres
ident, which none of his questionable COL
leagues possess. This was attested last Sep
TENDER when the frightened or seduced Chief
Magistrate rushed to New-York, stopping in
transit with his friend Mr.. Cooke at the Chel-
tern Hills, to give comfort and assistance to
the terrified cOvey of spectators which the
sudden shot had flushed in this stubble. 1t
was publicly stated at the time, and never we
believe, denied, that he and his Secretary of
the Treasury would have gone to any extent
of imitation the prospective bankruDts solicited,
but for a peremptOry telegram from GarrlsOn's,
whittier the counsels Of sound and honest men
had penetrated, that no such step OF folly
must be taken Whether it was accompanied
by threat OF resignation we of course do not
know, but it was said to be positive, and it
was certainly effective. If then, why not now I
The Secretary's personal influence is not a
whit diminished. In fact since the exhuma-
6On OF Mr.. Summers speech, we imagine it to
be strengthened by the bonds of new resent
ments; and, then the exigences Bad as
would have been the issue of the whole
Treasury reserve last Autumn, being mere
executive act, it would not have been one 1.-THE
as mischevOus rs this legislative and execu-
tive, not mere issue of reserve, but increase
and dread promise for the future. Congress
might have condemned, or cured, or condoned
the precipitate act of panic. The Secretary
OF State was at distance last September,
when the Fifth Avenue Councils were in pro-