, 1875-10-27
THE NEW YORK DEMOCRATS.
Correspondence Of The Tfmes.)

Yesterday (Sep. 10y marked q crisis in
American politics. The New York Demo-
cratic Convention was to determine, in q
large measure, what should be the policy
of that Party on the Currency ques-
ton. Upon its resolves on that issue depen-
ded principally the chances OF Democratic
success in the elections of this fall and in
the Presidential election of 1876 for 1t
may be taken for granted that q majority
of the people are willing TO give the Demo
Gratis a TRIAL il they can be trusted on this
one point. The Democratic leaders In
Ohio had committed that representative
Western State most emphatically to the
widest ideas of imitation, and last week the
Pennsylvania Convention Of the Party
even outdid Ohio in its hostility to
the resumption of specie payments aud
in its declarations in favour of an ire
deetnable currency. The bold position
taken by these States was, undoubtedly,
calculated to strengthen very materially
whatever Initiation proclivities might exist
in the Party in other localities, and,
therefore, IN answer to the question
What course will New York take 2 has
been awaited with intense interest by both
Parties; Tor the Republicans and Demo
Gratis alike understood that upon this more
than anything else depended their chan
ces IN tue elections of this year aud next,
The Convention yesterday declared In
the most emphatic terms in favour OF
:" hard money! and the speedy resumption
of specie payments. The platform" of
principles reiterates the explicit declara-
lions Of the Democratic National Conven-
ton of 1872 in favour of a convertible
currency and resumption, which is a hard
hit nj The consistency OF the Ohio and
Pennsylvania Conventions, and atfirms that
no other policy can accord with the
immomorial traditions OF the Democratic
Party. The currency revolution is q direct
appeal to the consistency of the Party on
one of its most cardinal points Of policy,
and the Convention has left the Party In
either State no alternative but either to
stand with New York in firm adherence to
the historical ideas of Democracy or to
surrender those ideas and risk a split In
the Party that would throw the PresIden-
tial election into the hands Of the Repub-
licans. 1t may be that the firm stand thus
taken will disturb the future harmony OF
the party, aud, indeed, SO divide it as to
destroy its chances. of success at the cleo
ton Of next year; but this seems impro-
bable, for the Iufation faction is really
strong in but few States. Should that,
however, be the result, the success OF the
Republicans, upon a Resumption plat
form, would be assured in any event,
therefore, the result of yesterdays Con
v~ention is favourable to the ultimate
ascendency of a sound currency pollcy
under one Party or the other.
It is not impossible that the political
interest in this question may abate before
the heat OF the Presidential contest IS
reached. It was doubtless q great mis-
take in practical politics to force the is
sue into the coenmanding prominence 1t
at present holds. It is not a question
calculated to awaken popular enthusiasm
for it is theoretic, cold, and abstruse.
Opinion differs widely upon it in differ
eat sections, and it was. therefore calcula-
.1ated to create party divisions. 1t is dan
serous to submit it to- popular arbitration.
Tor the masses do not understand III and
are too liable to pronounce in favour OF
errors which would bring serious disaster