New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-03-29
RESUMPTION AND TIE INDEPENDENTS.

II is proper that the few Independent men,
bers should take the lead i'll devislng meas
ures for specie resumption. Ii they enter upon
that ground they will find nobody in haste to
warn them of. Neither party has any right
of prOpIietOrship in that quarter. From pres
ent appearances neither has the slightest de-
sire to claim any such right. Whatever OF
popular favor OF disfavor may attach to an
earnest effort for resumption the independents
may az well claim, for neither party has the
power or disposition to take a single forward
step in that direction. The Democrats have
advertised their inability to do anything. The
best of them have more than they can do to stand
still, such is the reactiOnary pressure OF party
associates The Republicans blundered into
measure, year ago, which proves to be one
of contraction. The majority did not mean it,
but dare not now repudiate it. Many OF them
are glad that they builded wiser than they
knew Mr.. Morton, Mr. Kelley, and Others
who favor the Indiana plan of reputation,
have both the conscience and the inertia
of the party against them, while those who
wish to move forward to higher ground are
afraid that the Democrats may gain some adj
vantage if any movement Is made by the
party. Thus the Republican party stands still
because it dares not move the right way, and
the Democratic party stands still because 1t
dares not move the wrong way. Events In
Congress have proved that nothing can be done
by either party rs such. The very members
who would be glad as individuals, to do
good thing for the country, and to put the
currency question out Of tho way, would re-
fuse to do anything to commit their party to
any course whatever.
The independent members have a clear field,
therefore. Moreover. they have with them
the sympathy of the most intelligent Demo-
Gratis and the most sincere Republicans. For
the Democrat comprehends that any settle
ment of the vexed question. which may serve
TO nut it out of the Presidential canvass, may
save his party from disgraceful defeat. The
Republican comprehends that the action OF his
party thus far has been discreditably incom-
plete, and that the party can lose nothing by a
speedy settlement of the question. If men who
are not tied to either party will propose
measure of settlement, relieving each party OF
responsibility for it, they will find many men,
bers TO favor it as individuals who would not
dare to support that or any other measure i'll
party caucus.
We hope the report is correct that the indie
pendent members propose bill embOdylnS
one essential feature of the plan recommended
BY the Secretary Of the Treasury, but the
shortest and surest way to get rid of dis
honored non-interest bearing debt is to offer
in exchange for it an Understanding bond.
Whether the rate be high or low, so long as it
IL high enough to cause the bond to be pre-
ferred by creditors 10 the dishonored note,
there is something gained. If 1t were possible
to pass such measure, it would probably be
better to authorize the funding of legal tenders
in bond bearing interest at the rate of four
and half instead of four per cent, for this
would the more speedily make the currency as
good as gold. Yet, strange to say, there are
great many people who would rather endure
constant torture for three years than bear the
brief agony Of tOoth-pulling. No measure