The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-01

IL Is SOUND ana Accepteu Iulo IN the pol
itics of free countries to hold the party in
power responsible for the public veal and
prosperity. so far as they are dependent on
governmental action. Even if the republican
party were disposed to shrink from this re-
sponsibility it could not escape it. 1t has
President of its own choice; it has so large
o majority of both houses of Congress as to
give it irresistible control Of federal legisla-
ton. When it asked the people to confer upon
it the great trust with which it is clothed the
republican party entered into an obligation
to meet every great emergency in public af-
fairs with q sound policy and wise measures.
1t is most unfortunate for the credit and
prospects Of the party that, on the first great
occasion which has arisen since the success of
its reconstruction measures, it has dsap-
pointed the expectations and just demands of
the country. Conflicting views and divided
counsels, first among its Senators and Rep
resentatives in Congress and then between
Congress and the President have resulted in
such spectacle of abortive efforts and party
imbecility as was never before witnessed in
the Legislative history Of the country,
except in the memorable instance Of
the batfled wing party after the death
of General Harrison, when the favorite whig
measures were vetoed by his accidental sue
cessor. But there is no close parallel between
these remarkable legislative miscarriages.
The whig party, after Tyler became Presi-
dent was substantially united on the fiscal
measures he vetoed, and nobody could justly
accuse it OF FORGETTING the pledges it had made
to the country. If the President it had
elected had not been taken away by death the
whig party would have redeemed every prom
Use made to the people in the election by
which it was brought into power. But the
republican party cannot excuse its failure by
the death of its elected President and the OPP
position of renegade successor. The repub-
hcans cannot show, as the wings could in
1841, united party, thwarted by the death of
one man and the treachery-as they deemed
it-of another. The republican party is found
to have no policy on the most important and
engrossing question Of the time; and unless
within the brief three weeks that remain be-
fore the close of the session, it can unite on
some adequate measure Of relief many Of its
former supporters will be likely to think that
il has forfeited public confidence.
1t is futile and irrelevant to say, as some of
its apologizing organs have said that this di-
vision of the party on the currency question
does not impair its essential unity, because
the party was formed and has been maintained
on other issues, and difference on this ques-
ton is extraneous to the declared aims Of the
republican organization. To this excuse there
are two replies, either of which is sufficient
In the first place. political party which as
sumes control Of the government is bound to
prove itself equal to all emerging public need,
as much so as the captain and crew Of ship
are bound to navigate her safely in unex-
pected storms and accidents. Unless the party
in control of the government is responsible
for the public welfare there is no real ac-
countability at all, and the ship of State may
drift upon the breakers and nobody be held
blamable for the incapacity by which it WAS
wrecked The second answer to this lame
apology rests upon the public declarations
with which the republican party won the con-
fidence of the country. 1t is not true that the
republican party, as political organization,
has not promulgated any policy on the great
question which has agitated the country since
the beginning of the present session. The
republican party has, for more than
six years, held itself up to view and
courted public support as the great
champion Of gold policy, as opposed to a
greenback or paper policy. 1t was on this
issue that General Grant was first elected in
1868. The contest in that campaign turned
on the meaning of the word ''dollar." A ma
jority OF the Western democrats, led by Pen
dleton, contended that the promise to pay
dollars to the holders of the government
bonds would be satisfied by paying them the
nominal paper dollars called greenbacks.
The republican party, with a manly honesty
which the country Endorsed, declared in its
national platform that this would be repudia-
ton and national dishonor. 1t correctly held
that the only honest meaning Of the word
"dollar" was the weight Of gold stamped with
that name by public authority that the green
backs, like the United States bonds, were gov
eminent promises to pay so many dollars to
the creditors holding them, and there would
be equal dishonesty and bad faith in repudiat-
ing either promise.
The republican party solemnly bound itself
to this Interpretation Of the promise to pay
dollars in the flush of victory Immediately
after the first inauguration of President Grant.
It could not then be charged with any decep-
tive electioneering motive, for great triumph
had just been achieved, and the party was
secure of power for the ensuing four years.
It will be recollected that the new Congress
elected with President Grant assembled on
the 4th of March, 1862 To attest its sincerity
in the then recent election, and as proof of
the supreme importance it attached to the