The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-18

test in which Pandleton or any man hold
ing his views is at the head Of the demo.
cratic ticket II Thurman should consent TO
run on such platform lie would fare
no better. The democratic party
is split in twain on the currency ques-
ton, the most important question of
our national politics. There can be no doubt
that the Ohio platform embodies the views
of a majority of the Western democrats, and
whether they carry Ohio on such
platform or lose it the prospects of the party
will be discouraging. II they lose the State
the republicans will be elated with hope;
If they carry it the Western demo-
Gratis will control the National Convention,
dictate its Platform and sink the party with
the indation milestone which they will tie TO
its neck.
As things now look President Grant saved
the republican party by his veto OF
the Initiation bill last year. BY that
veto he placed his party on sound
AMI tenable ground in relation to the
most important question of our politics, and
the attempt Of the Eastern democrats to cut
the ground from under him is lamentable
failure. The Western democrats repudiate
the hard money policy of their Eastern
brethren, and party which is divided against
itself on so important question has no
chance of success. Governor Tllden, on
memorable occasion, said that
strong political party must be COM
posed Of citizens who ''think the same
things concerning the public welfare"
But the hard money democracy of the East
and the imitation democracy of the West do
not 'think the same things, and house
divided against itself cannot stand.
Commercial and financial London will be
very fortunate if the feeling of "disquieiude
said to exist in the city does not give way to
a state Of mind that can only be described by
a far stronger term. In the first week of the
month there were heavy failures, and there
was evidently for tew days great apprehen-
sion OF a financial storm; but the financial
world accepted in explanation q theory which
presented the trouble as a strictly local dis
turbance, and treasured by this comfortable
view the city recovered its eqnanlmity. 1t
was comprehensive enough that the bad
state OF the iron trade should end in calamity
to iron houses. Between strikes that made
coal high and strikes that made labor dear it
was long since evident that this great English
industry was in an i'll state to bear up against
the competition from this country, and a
crisis that would carry down the great houses
of the trade was already discounted; and it
was an obvious corollary that house deeply
and exclusively interested in discounting
paper for iron houses should go the same
way. Now, however, come exceedingly heavy
failures that this solution does not account for,
which seem to indicate a more general cause
of disturbance than was imagined to exist.
Although the city recovered itself from the
verge OF panic when the Aberdare Iron Com
pany went down, and though the dis
quietude' consequent upon the latest calamity
may pass away, the high probability is that
events 81 the same nature are to come some
what closer together in o few days, aud then
it is not apparent what can prevent panic.
1t is the definite indication Of these enormous
failures that great part Of the financial
edifce Of our rich cousin is held up by very
rotten timbers, and it will not surprise us to
see that all the severe moral lessons he has
read US on the error Of our ways in money
viii come home to him with bitter severity.
Nowhere in the world is honesty more praised
than in England; but not in Wall street, nor
in other places, if any there are, more
hagrantly noted for dishonest practices, can
the trickeries Of the fnancier be more ar
IDENTIFY cultivated or 50 probably or success
fully employed as in London. They are in a
fair way over there 10 find out how many of
their great houses are mere confidence
Is Adjustments, and if they can get this knowl-
edge without general panic they viii be the
better for it; but such m Issue Is not likely.
ANDREW IT. GREEN. The proceedings Of
the Board Of Aldermen yesterday will attract
attention as embodying al official statement
BY the Commissioners Of Accounts convicting
Mr.. Green Of the grave offence Of receiving
large sums Of money illegally while he was
connected with the Central Park. Besides q
great amount Of "back pay" be had the house
on the Great Hill in the Central Park fitted up
for his use at an expense Of nearly fourteen
thousand dollars, received his expenses in n
trip to Europe while his salary went on as
Treasurer, together with great amount Of
perquisitcs. This Is an unfortunate exhibit
tor an officer Of Nh. Green's pretensions to
public virtue.
COMPTROLLER GREEN AND TIE BOARD OF
EDucArros.-The Board Of Education has re-