The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-19
Impressions Caused by Earl Derby's
Reply to Secretary Fish.
ATTEMPT TO RAISE COLLATERAL ISSUES.
Ardent Supporters of TiIden Among the
Politicians and Legislators
COMPROMISE PAYNE AS A DARK HORSE.
A New Trial Awaiting Legal Tenders
Before the Courts.
FROM OUR SPECIAL CORRESPONDENT.


FROM OUR SPECIAL CORES PoNDENT.
WASHINGTON, May Is, 1875
THE ACTION OF THE OHIO CONVENTIONAL
VARIETY OF OPINIONS ON THE EFFECT OF
THE NFLATIoN vIcToRy-cURIoUs RECORD
OF THE BUCKEYE STATE.
The Ohio Convention is tho general topic OF CONVEX
sation here to-day The republicans regard II q
serious blow TO the democratic party and there
democrats who agree with them. Almost everybody
acknowledges that It adds embarrassing factor TO
The democratic campaign Some influential democrats
agree with the HERALD OF to-day that does not nee.
essarily affect Mr. Thurman's chances and say that
he would have been in situation than now had
he been recommended such platform as was
adopted at Cincinnati Others hold that the result
Of the Ohio Convention strengthens Hendricks very
greatly, at the expense Of Tiiden, Bayard
and Davis and that II the absurdty of the
should not kill it, tmay enable He ndrcks to into
The Convention with OHIO, Indiana Illinois, Missouri
and probably Pennsylvania 200 votes to speak
Of scattering additions To those who hold this view
tho situation looks gloomy, but there signs Of
very determined spirit Of opposition to imitation
movement within the party and by many Of its most
y
split, which was frequently heard when, in tho
beginning OF the session. the inhationists
were Growing, is again heard On tho
other hand, the innationists have also picked
up courage and themselves speak of splitting tho party
TO pieces rather than surrender their IDEAS
Senator Thurman's III luck has recalled to old poll
ticans here the fact that Ohio has often treated her
prominent men 10 game of cut threat Corwin was
set aside by his Ohio rivals; Mr. Chase beaten in
his Presidential plans because his State carried
against him by rivals, among whom Ben Wade
conspicuous Wade in turn, when he wished to DO
Vice President, pushed aside by Ohio rivals Pen
delon might have had the nomination at the Now York
Convention in 1868 had Ohio been faithful him. and
Pendeton and Allen do their best Kill OF Thur
man. 1t is singular record for the State.
LEGAL TENDERS TO BE SUBJECTED TO
NEW TEsT-THE THEORY THAT THEY ARE
LOAN TO THE GOVERNMENT, AND EVERY IS
SUE MUST BE AUTHORIZED BY SPECIAL ACT,
TO BE TRIED BEFORE THE COURTS.
1t proposed bring the legal tender question to
novel test in the Supreme Court That Court has de-
cIded that Congress has authority under tho constisu
ton 10 make issue OF paper legal tender II is
gued, however, by persons who to dispute
this decision, that such issue Is In fact only form
Of public loan. The government needs means; in
stead Of borrowing on bond payable at fixed date
Congress chooses to borrow by Issuing obligations not
bearing interest and payable any date
make such loan accepted II declares II legal
lender and this the Supreme Court has decided Con
gress may constitutionaly do That n legal tender
note government loan has always BEEN by nplica.
tion acknowledged by Congress itself Tho House OF
representatives refers all matters relating to such
notes to the Ways and Means Committee. while mat
tiers relating to national bank notes sent to the
10 make case before the Court or Claims to be ap.
peaed eventually tho Supreme Court in which the
plaintiffs will insist that every OF legal ten
ders must DO authorized by special OF Congress-
and That note bearing date, say In 1874, cannot
be legal tender legally issued unless Congress
20 declares IT by special act, the principle that
Congress must specially authorize every separate loan
and that that purpose strictly applicable
only to the special loan II empowers, and cannot be
generally applied IT. for instance, Congress author
lied either bond legal tender loan TO tho
amount Of $500 O0o when that had heen put
out the authority cease and further issue re-
quires net OF Congress. Several eminent law.
ycrs who hayo been consulted upon this question
declare tho point well taken and is understood that
number OF gentlemen, chiefly in Boston, have offered
10 defray the expense OF n SUIT to test II.
THE BELKNAP IMPEACHafENT-THE PROSPECTS
FAIR FOR TRIAL AND POOR FOR coNvIc-
TON.
II Is thought to-day that the Senate will decide by
small majority that IL has jurisdiction in tho BeIknap
In that event tho trial viii 60 on and the proofs
which the managers have in their possession are It Is
said sufficient procure conviction. But Il Is after
MI not likely that the Senate will him when it
comes to vote upon its verdict Those who now believe
that the Senate has proper Jurisdiction in the
will probably vote for conviction, even IL
they persuaded Of Mr.. BcKnaps guilt Their
ground viii DO that they have no right
10 sit in judgment upon him. and that there
fore they cannot conscicntiousy properly decide
upon his guilt II they choose TO be present their
number, added to such may vote not guilty, will,
without doubt, be great to prevent two-thrds
majority for conviction Nor Is IL easy TO see why
Senator who believes that the Senate has urisdc
lion in the shall in his seat and defend
that ground the last for to him the Senate will have
no right to sit court, and he will think II his
duty 70 use all his power TO prevent what he must
think abuse. Hence II the trial should go on,
may happen that matter what proofs OF guilt arc
produced there will be conviction