The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-01-13

Chief Justice is an unfortunate one. 1t VIII
shock the moral sense of the community.
There is not tone enough in the man to meet
the requirements of such place. But indie
pendently of that, the one thing which the peo-
pie of this country have right to demand, as
a matter alike of principle and of safety, is that
no man shall be invested with authority to ex-
pound the Constitution who has ever publicly
identified himself with such perversion OF its
meaning and spirit as made it the synonym OF
cruelty and rapine. Such men on due PROOF Oh
penitence, may be assigned to other piaces
where erroneous opinions will not DC Iraught
with SO much mischief; but oar law must be
as pure, as sound and as productive OF good as
human wisdom can make 1t. s-- ~
Just now the political horizon is unusually
full of portents Of disaster. Many days, obser-
walton strengthens the conviction that Con-
gress will neglect to provide by suitable taxa
ton for the palpable deficit in the revenue
This ensures permanent imitation of the cur
rency to the extent of 1000, 900, which is
enough of itself to SOW the seeds of a future
panic of gigantic proportions. Other measures
are under discussion, and are quite likely to be
adopted, which will increase the initiation
great deal more. Under these migrating in
fluences we shall get deeper and deeper into
debt, national, state county, city, towl. and in
vidual until a crisis sets in and the huge
sponge of liquidation finishes up the old
score. and compes readjustment.
Politically, it is matter of solemn concern,
that the country should be drifting on this un-
certain sea of irredeemabiity again. 1t would
be sad thing for the Republic if the bill for
the follies we are guilty of now should be sent
In couple of years hence on the eve of a Pres
idential election. The people are very apt to
be unreasoning when they geti angry, and in
their wrath they often change distrusted lead
ers for very much worse ones. 1t will be no
excuse, two years hence when the public bur-
dens are augmented by deficiency bills and the
public credit impaired by an enlarged debt, to
plead that the means for ayerting these evils
we're neglected out of consideration for the
masses. The answer will be "You should have
taxed us before we got so heavily involved and
when we were better able to bear II. Your tint
dity has proved our ruin, and we shall visit up
on you the evidence of our sore displeasure.'
Specie payments will come There is no
doubt about that. But confess have always
felt strong desire that this administration
shall have the browning glory of welcoming
their advent The way has already been strip
ped of so many of its difficulties that now is the
opportune moment If it were seized prompt
| " we should be a solvent nation before the
| year was over. The repeal of the legal tender
| act to take effect say on the LIST of January,
| 1875, the authorization of coin loan adequate
| to the maintenance of specie basis, the fund
| ing meanwhile of treasury notes as fast as
they arc presented for redemption, and scale
of taxation equal to every possible expenditure
of government with small margin for con-
tingencies, would carry the nation triumphant
| ly through the difficulties superinduced by a
protracted and distinctive civil war and debased
currency. Whatever present shrinkage and
suffering such a return to first principles would
occasion, would be compensated an hundred
fold by the advantages which would subse-
quently accrue.
For the present, however, there seems little
ground for hope that Congress will pursue the
right course. All we can do is to endeavor to
move it by entreaty and reinsurance. How
| ever discouragng the prospect. the duty is
plain and imperative. The end, be it distant
or near, will demonstrate the impregnability of
the position that metallic currency, and a
debt-reducing policy are indispensable to real
natural prosperity. YARMOUTH