The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1875-01-14
WANTED, A POLICY

CIlSilClSIu ny Ill dIACle Al We l271CS Ell
titled WANTED, a Policy" His reply
to his critics was that the title of the article
exactly described the situation, and was
a conclusive argument. A policy was
presently adopted, and the vigorous
prosecution of the war saved the govern
ment and established the Republican
party. That party now finds itself in a
similar situation. The government,
indeed, is not threatened, and happily
there is no war. But the party is in
danger, and it can be saved only by
proving that it understands the position,
and is bold enough to adopt courage
GUS policy. Courage is the first need of
the hour, and it is the more indispen-
sable because there are differences in the
party itself, and the disposition to find
some common ground would tend to
timid conclusion, which would be fatal.
The President in his Messages, support
ed by the Secretary of the Treasury in
his report, has given the watch-word.
It is simply return to specie payment.
The country suffers from a universal
prostration of business, and there can be
no hope of revival without restora-
ton of confidence. But that is impos-
sible SO long as the currency is fuctuat-
ing, and while there is serious pro-
position and possible policy of cutting
loose from the universal money of the
world.
Any man who takes greenback note
out of his pocket and looks at it, sees
that it is a promise Of the United States
to pay him dollar, or dollars, and he
knows also that he can not any where
exchange it for it's equivalent in money
That is fact which introduces I'M
certainty into every translation, includ-
ing the dealings of the laborer with the
butcher and the grocer, as well as the
larger operations of business. There is
no secure footing. Nobody knows ex-
actly where he is, and universal doubt
paralyzres every kind of industry. The
duty Of the Republican party, which has
the power of making those greenbacked
promises valid, is to lose no time in do
ing it. The promises must be redeem
ed, that is to say, we must begin to re-
turn to specie payments, and the policy
that is wanted is to provide the proper
method. That method, whatever it's
details may be, must include, as the
Secretary of the Treasury says, as
former Congress authorized, and as in
telligent men know, contraction. To
propose this requires courage upon the
part Of Congress. To accept it requires
courage upon the part of the country.
And to know the time when that courage
may be wisely invoked requires states
manship- the same kind of statesman
ship which Sir Robert Peel showed in
1919 when he proposed that the Bank of
England should resume cash payments,
and in 1916 when he repealed the corn
laws.
The courage must be of kind which
can see with equanimity the detection
of certain party leaders. This might
possibly follow. The commanding ques-
ton before the country is that of the
finances. The Republican party has
been defeated and discredited. It can
recover public confidence only by
brave and sound financial policy. But
it will not be easy for Mr.. Kelley and
Mr., Garfield, Mr.. Morton and Mr.. Con-
king, to unite in any decisive and
thorough policy without an absolute
surrender upon one side or the other.
No hocuspocus will answer. The nea-
sures adopted must either be positive
steps toward resumption, Or something
else, which is imitation. If Mr.. Morton
assented to the former, he would aband
on his position, and so with Mr. Con-
king if he agreed to the latter To do
nothing is to lose an incalculable advan-
tage, and to cripple the party for the
campaign of 1876. And why? Because,
without doubt, the great weight Of in
telligent opinion to a prompt and cour-
ageous settlement of the difficulty by
returning to the specie basis, and the
party which leads the way and takes the
responsibility Will command the support
Of that opinion. The Republican party
is especially called to do the work, not
only it's restoration to public favor, but
by its character and intelligence and by
its constant declarations
We repeat, the sooner it is seen that
certain Republicans can be retained On
ly upon condition of their virtual sur
render, the simple and sounder and
more successful the general policy Will
be. This has been the uniform expert
ence Of the party. Its great measures
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