The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-02-24
The cissins Days OF . MissPsnt sss-

republican party has maintained an uninter-
rupted ascendancy in both houses of Congress
and has been able to pass every Legislative
measure on which the party was agreed 1t IS
about to part with an advantage so long en-
joyed, and after the little remnant of eight
working days, crowded with unfinished bust
ness, the Forty-third Congress will adjourn,
leaving the political organization which has
controlled it and its six immediate predeces-
sors in the position of stranded ship.
During the wasted session, which is so soon
to terminate the party has had an opportu-
nifty to retrieve at least partially its broken
and sinking fortunes; but the chance has been
squandered by lack of sagacious leadership.
The new Currency act, which is the only one
that wears even the simulated outside form of
an important measure, is regarded in all intel
ligent circles as a hollow humbug, which,
under q false pretence of remedy, leaves
the financial situation unchanged and every
evil which the business of the country suffers
unredressed. Aside from this legislative
sham Congress has allowed the session to
glide away without passing any bill which
even looks to the relief of the business COM
munity or to the settlement of the political
questions that disturb the public tranquility.
The Tariff and Tax bill, which has en-
gagged the attention of the House for the last
week, is exposed to serious objections in Its
details but the most extraordinary and dam
aging thing of all is the confession by its ad-
vocates that this party which has SO long con-
has bo IN
the brink of bankruptcy, and that unless they
can pass this ll-digested measure the Presi-
dent will have to call an extra session Of a
hostile Congress to enable the government
to keep faith with its creditors. What
more conspicuous proof could the repub-
lican party give of its improvidence
and incompetency than the necessity OF
o makeshift to save the Treasury from ap-
preaching bankruptcy? By whose want of
foresight incompetency and mismanagement
has the government been brought to so hui
initiating pass? 1t is high time for party
to "step down and out" when it makes this
practical confession of the justice Of the sem
tence passed upon it in the last elections. By
its amazing imbecility during this session it
has forfeited its only remaining opportunity
and ''sinned away its day of grace.
The contrast between the boastful republi-
can stump speeches in the last Presidential
canvass and the republican side of the recent
debates in Congress is like "a step from the
sublime to the ridiculous" The people have
not forgotten the appeals to their confidence
and admiration which were made by the sup
porters Of Grant when he Vas a candidate for
reelection. It was proclaimed on every
stump and reiterated in every party organ
that the success of our fiscal policy was the
most splendid achievement of modern
fnance-a sort of eighth wonder of the
world. The prodigious reduction of the pub
lie debt during Grants first term was the chief
electioneering topic of that campaign. We
were pointed to full and overfowing Treas
ury, to Boutwels weekly sales of surplus
gold and purchases of government bonds, to
the great reduction of the interest account in
consequence of President Grant and bis party
! having diminished the debt at the rate of
hundred million dollars year. And, to set
off the brightness of this picture by contrast
with dark background, the republican
statesmen and stump speakers painted in the
gloomiest colors Of foreboding eloquence
what would happen to the finances of the
country il poor Mr.. Greeley should be elected
and democratic Congress come in with him.
Never was Dragging comparison so put to
shame. Every financial evil which was hypo-
thetically predicted under Greeley actually
overlook the country under Grant 1t was said
that if the opposition succeeded the payments
of the public debt would stop. The payments
have stopped, but poor Mr.. Greeley
and his supporters are not answerable.
1t was said that a swift and desolating
panic would come during the first year after
Greeley's Inauguration. A swift and DESC
lating panic did come within the year of the
Inauguration; but it happened to be Grants
Inauguration, and not Greeley's. 1t was
said that great business houses would 60
down, that our manufacturing and mining in
dustries would be arrested and hundreds of
thousands of deserving laborers be thrown
out of employment-all of which has come
true, but under the very regime which was
held forth and extolled as a sure protection
against it. The swelling financial boasts Of
the Presidential campaign are very fresh in
the public recollection by their prominence,
their recentness and the short period that in
tervened before thick-coming disasters made
them ridiculous. 1t is great and deep de-
scent from all that electioneering panegyric
to the language of distress and danger now
heard in Congress from the same mouths on
the necessity of makeshift tax bill to save
the Treasury from bankruptcy and the ma
ton from dishonor.
Oh, what a falling OF IS here. my countrymenl
For the last few days the republicans Of
Congress have been anxiously caucusing and
celebrating as to whether their makeshift
fiscal measures or their measures relating to
4L1 Ca.,4haxx, States shall takn rarecedence In