New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-03-26
INITIATION IN CONGRESS.
COMMENT UPON TIE ACTION OF The HOUSE.

COMMENT UPON TIE ACTION OF The HOUSE.
We trust that the action of the Senate will
be better advised audi II IL should not be, that Presl
dental will arrest this backward anu downward
policy. The press and the mercantile classes-and an
who comprehend the danger Of the situttion-should
speak out plainly aud prompty-lBoston Journal thepD
Though such q complete triumph over the
contractOnstS this 600, 100000 bill does not come up
the full requirements OF the country tnere - iu
rency which would best be obtained by he adoption OF
the proposed 365 bond plan. or failing that, Dy Tree
bankiug.-t Phi adephia Press (Rep)
Never. perhaps, did the Representatives in
Congress carry into effect tue wishes OF ther
Senate lad or even DELAY in approving the good work
damage the business interests OF every state IN the
Observation-Disclosures Inquirer RepJ
The action is simply disgracefu, especially
as there opportunity 10 compromise on s5s2OoO-
O The amount now Out Inc o Gonna % th
proposition in the Senate which, though very nsonSr
Gus aud hating, would yet give us turn toward specie
payments gfied Republican tInd)
Apparenty the vote now for initiation Is a
turning point III naucal career and VIC turn TO he
bad side. After struggling fora while to be honest we
have broken down the barriers. All the effort made
since the gwen np and we pass nov INTO the era
of cheap land illimltaDlo money.-lNeW-fork Herald
Indy
An unstable and fluctuating irredeemable
paper currency calculated to create dstrust ana nix
atoms IN its value compared with the specie stand
ards Of other nations. Increasing It's volume VIII, II
and violent by Initiating prices and stimulating specul
tom Baltimore sun tDeuL)
1t has been evident for long time that the
ONLY hope OF conservatism III the finances was III Lhe
this littie more clearly now, ana
have additional to beg the Senators who wish
that the country may some time come back 10 honest
money 10 stand by their c00rs without nlnchlnR The
burden is upon hem but the country has no other de-
pendence rs long rs the present. madness continues
Boston Advertiser tRep)
The bitter lesson of the panic is already lost
Then everybody demanded stable and secure cur
rency instead paper les and ali insisted upon return
TO tue specie basis Now Congress payes the way for r
Their speculation, and ncts fresh doubts and perils
upon the honest transactions OF the country. win
such vote the House, can hardly hope for rea.
son in the senatelN. Y Commercial Advertiser tRep
We deeply regret the conclusion because 1t
is no remedy existing evils; because there must he
time when contraction must come, II the country Is
ever again to have specie payments because the cry
for more money is based the need OF more capital
Le money being plenty enough where there Is any cap
tai TO back IT. because Is render prices waves aud
investments more uncertain.-lS. \. Evening Express
DemJ
Gen. Grant declared to an applauding cOun-
try III nrst inaugural address, In the year lso thai
the return 10 specie basis must be provided Tor a.
soon as IL be accomplished without material detr'
men TO the debtor class TO the country ~ large
After Ave years OF his administration during which the
majority OF both Houses OF Congress has been az IL
now ade up OF supporters. tue House or Repre-.
only declares that that time has not yet
come but ADOPTS "a measure intended and adapted IL
! postpone Ito coming.-lN. y. Evening Post iRep)