The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-03-16
The Probable UpshOt OF the Cur.
rcncy Question i'll Congress.
WASHINGTON, March



Especial 10 the New York Bulletin.l
The Democratic currency caucus did
not draw nearer to compromise on Sat-
Irday night than it was before, and it is
probable that on Thursday next, when it
meets again, there will be the same des-
ultory debate. This question has per.
mcated every part Of the work of Con-
gress so far, and had very demoralizing
effect in every way. The Democratic
majority has held off TO avoid the issue
in The New Hampshire election, which
takes place next Tuesday. II is a Qucs'
ton whether on Thursday, no matter
what the result in New Hampshire may
be, they will not hold of until after the
Connecticut election before deciding,
then wait for the Presidential Conyen-
ton, and then pass bill simply postpon-
ing the date Of resumption and enforcing
the gradual accumulation OF coin. What
ever OF political considerations may
surround the currency question and
whatever the result OF the elections
NAV be, the entire Administration SOL
illv and without an iota Of DISPOSE
ton to compromise, is for practical re-
sumption. = No sophistry can divert that
strength; no slipjack currency or reslmp-
ton bill can escape veto. Let both
houses OF Congress pass suspicious cur
rency or resumption bill and the Presi-
dent wilFveto II as certainly as taxes and
death are two things TO be met The
President will stand postponement OF
the date OF resumption and an enforced
gradual accumulation OF coin for the pur-
pose, but nothing more. He would veto
a bill proposing to suspend the Sinking
Fund, unless that proposition was COUP
led with some determination on the part
Of Congress 10 make it fill out plain,
feasible way OF reaching resumption at an
curly period. lie would not consent that
the burden OF accumulationg coin shall
fall entirely upon the Government, il any
thing new should come upin the matter,
but would insist that the banks should
bear their part OF the responsibility, the
circulating notes Of the Government and
the banks being about the same in amount.
He wants silver to replace the fractional
currency rs soon as practicable, and sees
a way to do it easily, dollar for dollar, in
twelve months, the Government taking
that responsibility. So your readers
may see that Congress has not all to say
in This matter. The President is the final
resort. He would gladly advocate OK
tension Of time for resumption and grad
ual accumulation Of coin by the Govern
ment and national banks, but he will
veto an absolute repeal OF the Resump:
ton Act, or any intricate theoretical
proposition to replace it, No one knows
this better than the recognized leaders OF
the Democratic party in Congress. Messrs.
Kerr, Morrison, Wood, Payne, Randall,
Lamar and others Of the leaders are thor
oughly convinced on this point, and the
probabilities are that they will yet man.
age the irreconcilables. II they do not,
they will lean on the judgment of the
President, wcll.knowing that they cannot
get two.thirds vote in either branch Of
Congress to override the veto.
After all, it will be found that the Pres.
ident il the balance.wheel in this affair,
and have given his views above.