New-York tribune., 1876-07-22
FIFTH AVENUE CONFEREEs.
Continued from second Page.

Il demands q reorganization of Che ciFii sc'N''e'
which isa fruitful source o. the preNaihhs ,'''up
tion il demands q change in the b1d Pt'c''' W."
has rendered appointments to oihce ~ Io""'u i'i
sorvico ~ Coapy.esmen ard senators; II nen'f"',S
fcoralirv. implicitly, capacity ana honesty !" q"
.rb,ic offices. ard last though not l'aS'' II &C.
-,D3s in the place of That imbecile oiiatoiy' w
cai.iept. and deceptive policy when mas ni'A'.'o
,.r,,s5 ti,e treatment of tbe currency problem M
,,,,rs active. systcma lie, and rigorous effort
for tbo restoration Of a sound hnancal '"h"'1'oN'
Tuv CURRENCY rttNEs.
Tt ne consider the dongs Of the late Conventions
~ respect 10 this most important point. Here Is,
first tine resolve passed AZ Cincinnati:
t. ,i;e first act OF Cangrtss siutG hl President Vt'EN
Inc National Government ASSUMED 70 ,'l'' ,'l'"N'' "i!I
Srn,s of ts purpose 10 discharge al JUST """t ~
,1c TORS and sYlcmuly pledged It's i-Ih U. LaAo
provsiou at The earliest prIticahlc ttil'" 400 S 5'
tenpti,u 4, the Unj,ed states notes in CON" NviHI
STIf,spaiity, .ublic morals, ana AailVoI ,.'ll uo
1r9ud tnt r. Is promise tc tU.tttd u! o",''''N ''
steady progress Go specie pAuou's'
When tbi, resolution was reported by Gen. Haw-
1cv. Chairman OF the Committee ON RESOLUTIONS
MIR, Davis Of Texas Of the minority OF the Commit
tse moved substitute. declaring distinctly 'hat
tber. sb,uld Ie no further postpoaement Of the
,.suulpGon of specie payments beyond the
ds1e already fixed by the law of jan II,
1879. lie remarked that the resolution OF the
majority was md unite, ana that the escct OF lt
yDpit b,, remit tuc flNtSttnl luN Nt ~ 'H '-
main Of vaa1ie PROMISE Gen. Hawley opposed thc
substitute, on the ground, first that ia dealing
with principles for the guidance Of a perry fora
earor for four years it is best to conue- ouIsoi 20
a adeclaration Of them and not to lie yourself to
mere details :" and secondly, that It was doubtful
whether the Resumption act could be carr ed out
in two years From next January lie az
pued that the requisite legislation could
not be perfected IN time to compass the
result, and that it would only emoaIiIsS
the canvass by the recognition of law which
uicht prove altogether impTlcteable. lie Won"
moi s. vote for IL III Congress, and he coald hot
call upon the people 10 support what ne could not
vote for. Gen. Hawley's view prevailed; tie sub
sftute was rejected and the fixed day. which certain
orators hold ga sacred pledge was quietly aban-
dogcd !or "a continuous and steady progress to
srcc.e resumptioan What was meant by this
rbrase we may perhaps gather from the reference IN
-be outset Of the resolution TO the act OF lS6o-
when "the progress" begun, and which IN
seven long wears "steady and continuous" move
ment has arrived at this Wonderful conclusion that
we ought to 90 on in the same way-that IS III DONG
nothing.
What said the Democrats on the same subjectf
Reform is necessary to establish SQUAD currency,
restore the public credit and maintain thc h''oh"
Ne denoince the failure for all these years Of
peace make good the promise o the ics@,c'E n9.'s
wAicI chansins stanCafd OF ta.tG lI tao ,1 vi
the people and the nonp3, intht ot "hch Is u'c5'N
OF the plishtsd aitn OF the nation, ,
o has trcn from the people in sdera taxes
teen the whole amount OF tue icgat,nuer no $
and squandegcd four times tner sum III useless expense
without scCuWu.dt!Es reserve Tor lhtlf IedtmI-
We dcnounce The financial imOecility and immortality
Of tbgt parv. which, during eleven Aeals OF peace ~.
made @ M aayrl S1 s 9"@t1 g"t.l 6as d.e2 & Fsao
by wasting our sources AID eNhssis al. our ,l.Ip''
Income and, vile annually PROCESSING to lnJ"na
SPEEDY return 10 specie i.thtN ii'N "l''N'''
fsh iuJe.-ncrs thereto. As sdCh HuttIahet We De
nuUrcc the i.ysslnton day clause Ol 'he "cV '' 1910
aud demand IJS I,I ral. ILL. ,..,
We demand Jst.C,as ystcm OF preparation ny pup
lie economies Ug g,I.ial Ic;rcrC ll. ia ana .N Wis
du1pce w shah enable the nation soon o. assure IL"
whole world of H. perfect ability ana lt' perfect rtaG.-
ness 10 auy OF its promises at tie cal. Of tie cfci-
We believe sasi system yc dcnued and, above all
,' ,i,a IN M nj M -r,r,iv oI curreacv. ana st NO Time
alarming The puolc MHd INTO Wlt-3'I"H oI liit
basncss t.aI,.c ions are performed system opcn,
lnic and inspiring General confidence, woul from the
Ua OF il, .dOpuou bring healing ON ITS wings 10 an oi
Etilass,d Industries sci IN motion TIE """ts oil com
Terce. manufactures, and the mechanic as ies.of,
employment To- b and renew IN d. Ito ttutd sources
tie prosperity a the people
Ii is proper 70 recall before scrutnizc the scope
and meaning Of these phrases that were stouty
opposed both in committee and convention, by the
iahatioli>t leaders. Whatever their real pufport,
these mon saw in them dat contradiction OF Their
own schemes. Gen. Ewing and Mr.. voorhees,, who
SPOKE for the minority, denounced them as a com
rl,te surrender to the hard-money theorists. The
former in order TO obtain partial recognition OF
his ways OF thinking, moved substitute proposing
repeal of the whole Resumption act "fortnWIth.D
Mir. DorsheimeT of the majority of the ComnlJtocfc-
fused to accedc to it, saying 20 propose right here
TO make a straight issue between hard and SOFT
money. BY that we stand OF fall" lie was sus-
taued by the Convention, and the substitute re-
jectcd by a vote of more than two and half to one
$50 TO 2I9. The result regarded a decisive
victory for the advocates of the sounder doctrines
Icaunot doubt that such is the right interpreta-
tpn of the result; for discover that these resolves
are mainly a summary of the teachings of Gov. Til
den. to bo found in his luminous messages to the
Ncw-Yorh legislature wherein he speaks in no anu
biyuous language Gov. Tilden was originally oI
posed 10 the issue Of irrodcemabie notes. and
selcd Secretary Chase against the eXredient, which
be avcrred would greatly enhance the cost of the
war; and lead to tie enbarrasSments and disaster.
We have since experienced. When they were once
issued he insisted that they should be hcl redeem
able az al times In the interest-bcaring obligation
Of tha Government, wlEch dr. Spauding, the author
Of the Legal Tender act, tells the original in
t0HtiOn OF it's fialners At che close of the one
O. his grounds Of quarrel with the party i'm power
VS. that it did not at once engage actively and
eiue0tlv n preparations for thcir red emptiUn The
process. as he showed at great length in his mos
sasgs wa, easy and practicable, provided II should
be peHs,ouly pursued. Demonstrating with the
c.drest perception OF tue fundamental principles OF
currency that after tie reaction Of 1872 began
amOIerltu is,g. of g.cenbacks would do 30 GOOD,
have no effect toward arres-ng u, while an
indefinite issue would provoke additional dis
astrr be advised iu the fist place that
tic revenues Of the Government De increased so @,
ta "a a rI' 't Ir "a fIt