, 1875-02-22
Tho Question Of tho Resumption
of Specfe-Pnyments.
squandoring the Public Domaine" Pro
lection" and Trades. Unionisn1.
Difficulties Of tho Problem Of Rooonstruc.
tion---0ivil Rights,
It Il "Sot Expcdlent or Safe to Trust
the Democracy with Supreme
PoMer.''

lle NOW 40rh 1FloHHe 0l 6AsufQA9 cQUtAlnb
longsl,Y letter from Thur!ow Weed upon the
political situation. It Ia addressed to Tlvus ",
smith, Nhoso recent lotsor to Speaker Dlaino,
"oxplunutory Of tho oauhes which have oyor-
thrown the Republican party 3Er. Weed COM
mpuas aB livery ablo, and, for tho moat part.
very wise.' lie says that to Causes assigned
for the disastrous defeat of last fall sucient
for the overthrow Of dominant purity held
responsible for rorvading tlnaucial dst.cas. and
yct this general Btagnation In business, mas in-
eyi.ablo, resulting from tho exhaustive conso-
quc,lccs uf tho War. Tho letter continues:
While 10 Administration could baye ayorted
tho OWLS, ours, 1t must bo admitted, failed to do
much that might hkvc boon dopo to reieve aul
mitigate them. 1t might also, in doing somo
things md III emitting to do others, havo caltncd
rather tlsu o1nsncrated popular fecting. Tie
Administration was serioubly weakened mud
wounded By she Congressional "bacH.pay grnb,"
by Treasury Department imbecilitics. by San-
born contracts. and Washington City dproru-
munt frauds.
TIE THIRD TERN.
Still another and dansgsng clement entered
into tho cnllraas Of 1874 Irofcr to It reluctant
,y, hnd only because. II No earnestly intonl 10
dcrs.s.,d the causes Of ont defeat, that nbuaas
may bo reformed, crrora corrected aud illusions
tlikpellod. When tho pross began to aEtata
about "thir1 torn, few. II any. supposed that
sttch an dca wan seriously, entertained. No
such thought found responsible expression.
But tho agitation continued until considerable
popular eoltctuds was awakened. As tho elec-
tiouB approached, Republicans grew apprehon-
sire and anxious. Republican members Of Con-
gress not only wrote to but vLBlted Washington
III the hope Of being authorized to contradict
tho accusation. But no word Wa Bpo.eu, no
sign given by the only pernou who could by tho
uttetatce OF single Ecntcnce, have disaEn,ed
ilia opponents and roassured ~ friends.
rHhnra haar mot tnv y n tour EfNrh
Gen. Washngtou's enlightened and patriotic
vtevs, enforced aud fortified by sc strong. clear,
| anu conclusive arguments Of Gen. Hamilton,
wero submitted 70 tue people, that nuy p1csl-
hayo been bis Administration, could hare secured
! or approached an election for q ''tlrl tcral."
Nor Waa it over nilcgcd that jefferson, Madiaon,
llorrus, or Jachton (Who aesrod two teru,s}
| all Idea or doludod themselves With such an nA-
pratton.
II there DO anything uaaltorablY fixed aud de-
tcrmired In tho American mind aud hcnrt-if
hnvo aucnorod. it Is tho Third sarm' example Of
Washington. And an dovoutly thankful that
there is 10 much left Of tho toachiurs oil our po-
litical fathers 10 which tnlr dcacondants cling.
Theso thnsa. addoa 10 ths eauaos which you
90 clearly. rrsHent. both explain and excuse tho
fccsiug Whicl. found expression through tho bal
| lot-box ngalnst tho Administration.
| The Republican party for tue good work 1t had
| dono before and during tha Rebollion ought to
| have held the Government at least ono Or two
Presidential termH longer. Tho Democratic
party, both on account OF Its tnaEule bofore aud
I its dsloysty during tho Robolliou, Justly for
fcttcd tho confidence Of tue people. Nor has it
| dom which formerly characterized that groat
party. On tho contrary, itn teachings
anI tondences iustify apprehension that mn-
| liga clement. now as heretofore. exorts
prepondcrati,g influence in It's collnci!s.
II rt1t ha YfAhfit1 in aTnr{a "a
rouaombcr that tho Republican Administration
| WIS botten in 1874, not by .i.e augmented
strength Of it, oppouento, hut by tic aliouAtion
aud apathy Of it, friends.
| AEsuNrTloN OF SPECIE. PAYMENTS,
Mr Weed believes tho resumption Of specie
paymeuta entirely practicable within roasonA-
bic time. anl without aoEio,ls injury TO tho
| industries OF tho country. 1t Ia not 80 much
lation aa that tue pcoplo should be aasuscd that
specie can he obtained When 1t Ia actually ueedei
A genera! determination to tcsumo would 90
| mora than haif way toward it's accomplishment.
crolitorB,-tho holders Of our bonds, and thoae
| from whom nc purchase lnxutiea; and TO meet
| this 1t ID suggested TINT Congress- pass law,
limltol to Ion years, imposing heavy duties
Oh Pike. lowe!ry vine. ctc;. 10 a. to yirtu.!ly
tituo. Tho letter then speaks Of tho artificial
| obstactoB to resumption. tho speculation Of tho
! Gold Exchange, Tho oxtrayagance Of our poopla
! In drcsH md other lnxurlos, tho millions Of
| money spent " tdefs In Europe. Thoso great
abuses aud fol1!cn reformed, nothing would bo
| castor thun tho resumption Of Rpcclo payment.
Nor doea resumption tsi auy case necessarily it,
| yolga onorous contraction.
tionalizol currency. For ali domestic usea tIat
currency s Just as good ~ gold and silver. It IL
ayen better than tile dobasetl metallic currency
Of Austria. Aud when tho fact shall Laye been
eatabllnLod that this paper can be converted into
| maid lsi1y hn,It
notes. leaving tho gold aud silyer to meet tue
foreign demand. The presldeat struck chill
ins blow a! resumption by advocating tho prohi-
bition OF oil notes undor 60. Resumption,
definitely postponed, for the people would novor
conBous to be deprived Of tbs sluall notoy OF
Holvsns hpecie'bapkinc banks.
GRADUAL CONTRACTION rAyoRED.
| AuxIouB ~ AIN for tho resumption Uf epecte-
paymeutn. would not sock 1t by turning the
ilusncial sorews go tightly u to arrest A, para
ly2e lua!ncsB on!nrprlses, upon tho healthy
workings Of which tho prosperity Of all claases
prot1acscd wars. waited patiently moro than
tw0nty years for tho opportunity of tosumtng
apecie-paymeuts without doranRinY her great
manufacturing aud commercial interests or dis-
! IreaB.ng her ttaIo.
Wot however, can, II no will, eatablIsh ouE
national credit much soonor. Indcod, had Cou.
gross aud tho Treasury Department paved the
way. and the peop!e, with ono mind lravoy dc,
| tGTMlDeu " aAQH1u 10 10. tlt fcaunrNCn 0l
Bpecio-paymcutB might have been hailed a. q
signal and erownlug glory IN tho approaching
celebration OF tho Centennial anniversary OF our
National Independence.
BQuAHDEnlNo TIE PUBLIC noyAIx.
.Wosze thai, all other evils snl fo.lieB, Mr.
Wesa tlihks, was "tho blind, recklesa, ant
criminal aquandering OF Tho public domain
Ihe Homestead law l.aa proved failure and !
delutlon very low Of tho "tolliug ml!ilous
haye psoated BY il, and ths ahnsen Of tho laut
grant system lave been discroditaSle to tbs
fare. Untold millions. jim lho form Of "laud
ErabA, whc; ought to have been seseryod fol
tho usos Of tho Government. hAyo gone to en-
rich speculatorB anl capltaliHla. II Gougrcss, Ii
its alhcri.y to dispoaseba tie country OF liz do
main, had reserved to tho Government ouo-hai
or eyou ono-foutth Of all precious metals miner
Als. aud Goals, handsome fund would hay'
been rescued.
It 1 PROTECTIVE TAR1YF.
Alt you Bay ou the subject Of 4 protective
! tarin is histosicatly true. l eau nover fos
oa Of oar coan'sy puaor tho psnIHn nu
J ences of : was protective tariff iron