The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-09-17

FeUtemhe TFId. CAtnHTTOnhG long
foressen by discerning men: but none had an
tici ated the widespread desoatiun ana ruin
which followed in its wake. While all eyes were
turned To Washington for relief, the attitude OF
the President ana his Secretary Of the Treasury
was pitiful IN the extreme. lh6h 1t was that Mr.
Richardson. bewiidered and helpless amid the
storm. adopted. without authority Of law.
the expedieut uf emitting an additional sum IA
grcennacks $2G,OOOgO. In general, the ID
minstrt,i1n of tnIt Off Ger WAS ch racterized by
folly and imbecility. Hut here was crime OF
the nrs, magnitude. For this act he deserved
Impeachment; and nothing out the completely
Of the President and the suhserviency " the
the majority Of Congress prevented bis condgn
punishment MIR. McCulloch said OF thts policy
that u w as uoweriess to stop the panic as
bread pills would he u check the progress OF the
cholera or yellow fever
Next, let rs see what action was taken
by the majority of Congressional majority
which we are asked To believe Ia In favor
Of tho resumption Of specie payments
nous Initiation Of the already deJtecilted pa
DER currency. Did they attempt to undo the mis-
stOttug II the pro u-ul rtyr, they stood by, cvn-
sentiny to tho deed. lney cuutcnted themselves
with en- c.ins law providing that the same
crmlnpi od-uce should not b. repelted. In other
v I'd. the iocNVl the stable door with great
parade. .titrr he hOrse va stolen.
M legal tender notes ere a debt OF the Gov
eminent winch - long past due Good iath
req urcs inst they should DO val "a dollar
where the p'omi.u to paw was dollar. he
Gr.t -teu Wnicn should nave been taken after
the close vi thc war " - nay these demdnn
fectcd to tns end, instead Of to anticipating the
ayMent "a time Or landed obligations winch
were alreldy prov1cd tor or auJ uted, the
county WOuld have csC'pe1 much u the suHer
ing with which 1t h.e since been afflicted
l"ere wound nave been no = IL in wnicn lola
tiun, whether Of TAPER or silver, could nave
tnNen root; and so lar a. the @ NE u ls'J w'ss
due to the collapse u ratiway-building specul,-
tOn, That crisis would h iyc been obviatud.
rue HOu.WeIl policy OF Usin- surplus revenue
To Ouy up bonds crCItoU avacudm IN the inVost-
mVut b. mi market. u" niru W filed by new fail-
road and uther corporate OBLIGATIONS rno easy
4 All
Ing. M other mat Schemes, ana HuaiN forced
expansiou to the buIsihs loiut. Had the sur
plus revenue. of the buNcfumeut been applied 10
tnc tx inEui-hnient Of thcse suspended uenana
deots wnich cons. itdtcd % forced loan, tue ter
uhle or 'sh wnicu nas involved millions OF our
people in utter ruin would have been avoided.
THE RESUMPTION ACT.
Ineed hardly remark that no steps whatever
have been taken UN the Administration to carry
intU effect I've Resumption act on the LIT ga, Of
January, $50 On me contrary the dominant
party. whne it has redGced bofh the taxes and
duucs 90 tmt orte, cOn'iuucd, AZ to the time
tnat the De upcratic House oil Reurrsentntiyes
checked Il, he tdiOuH career OF proni9atc cXpen-
uiture, to 10 40 appropriations 30 lar IN excess
OF the iuity reysaues as u necussitaie the
current expenditures. Wen might tue
aple author Of the History OF the
KeOt lion Uhc Hon. 4. q. Spdldingl remark {:
rae Treasury sair- of gold at sixteen per
cent. premium, ana the receipt Of grecnbacka IN
payment; hnd Tue lnhieuiate Reissue OF sucn de-
Ircciatcd grcenOach-. ~ par. t. pay the civi ex-
peiisvs ut tie government, ten Years sfter tho
close Of thc var Is Hn anomaly IN any solvent
government. aud plainly shows tie We knsss
nd competency OF Congress In not providing
ample revenue. 10 carry ON the Governments 10
time Of peace with Dut icsurting 20 such uiscred-
Rattle uuail-.
oenoye violate NJ confidence when [ state
that ~ecrrtary Urls CIV, 50 long ago as the mouth
OF Octupcr. l~i5, cNpf .ssed the gfAvcst apprt~
nensiOn tnai 80 the opel.tion % this system toe
gold venues wuuii not suffice to meet the
seni-annuai interts, on the public debl then
about 1" tail de.
whicu uominted iVcs and Wheeler contains
tu~ fuuONins uec.ar ttlOn:
a. Ia enc nrst tct Of congress signed by Prssi-
dVui Grant the uAtDuI government assume
t. Remove any Il nults Its purl. % TO dticuarxe
All Just OuIigAuons 10 putlc creditors, ana sod
emmy pl,deeJ ns tai.h 10 make provision Il toe
earliest Practicable period for the r-demi ton
/ Oi the United states uOtes la coin. Commerc AT
prosperity. pubic mora,s, and national credit
GctnAuI tutt tIi- promise be fulfilled by con-
ments."
Whcn tie aueulon came to be taken upon
this resolution, Mr.. Davis OF Texls offered a
supstitutc, dccdtiug distinctly that there shall
toe ~ iuttner post oneinent Of specie payments
bcsOnd the date already liked 10y law for re-
sumption. lie thought the resolution too IN.
debate; ami that the elect was only To- remit
TIE question involved to the domain OF PROMISE.
Gen. Hawley, tho Chairman Of the Committee
on Resolutions. replied q MIR. Davis "a follows 4,
IL Is bsst. IN M opinion. always. Ia deal
Inc with principles for the guidance Of a
ps1y during year. or four long ears, -
cohnne ,ourseif to an emphatic declaration
details 81 my measure. Tue gentem wants
10 conhne tue whole declaration to the duty Of
rrying out the Resumption act. 80 called,
W"lch urnNl4e- iut resumption twO year from
next Jauhsfy. NoN. yOu cannot propose an
act IA can pass tue House before next Jauu-
atN, and IL wnuld tie, pfphauN. two or thr d
muutns uIure before II cou.d pass bOtn Houses.
,ahing tue chances inst you viii have b0th
! Houses RepubhCau; and then you would have
/ uuiy about zen OF eleven months to carry tuai
/ act into ru-ct. Now. whether IL bc po-si1i" OF
/ NOS 40 nriug about svecle payment at tnat pr,-
a a tk | al no al fNa.fa fFt.
/ lax ct public sentiment aud u such limited and
nalting legislation as we may have. will orr I
au uot ur-iruus 10 De- tied upon the stump a.
! the nv toY Ot tntt iii regard ~ ~ a very
1 nnp rtrct one. voted against IL ia my place
/ ln tAe ITO Sc. de- not care for the details uf E.
b pi,ut IA, scf upon ~nat may say IL NOT ouiS
/ oue OF ulgh political, hut II higu moral duty
/ OF resuning specie payment at the EARLIEST
/ rtdcttcailc moment; ana when l say tha
/ mean 10. ami should tot ere {,
/ spend al huur Of my time on the STUMP Any
day defending "a Oil that could not vote Tor IN
/ Cougtess.' Tue Result wds that tne Convention
! VOtel Gown the substitute, anu adopted tn.
| original res luton.
TRANSPARENT DECEPTION.
The Grant Journal. from u.y % day insis
that the -1-caiied Nesgmp ION act l. the onil
! sincere and prdc ical measure for tie Irstur.
/ Ton Of sac I. hati.due nH cdisrncy. anj nlI
| Is reputation. tne cool efrontery ot TIM
cnar-e becomes appNeut When We consider "a,
/ Platform Il the Republican National CInNeh
] ton, a eXpl tined 10y rs author. l. 90 -s-fl
/ IRON the puiicy Of the kesumu'lou act l. rrpu
! dI.tOn, thea surely thae Convention and tina
p,r,y re justly cnIr-rau!e vita rvpudiatOl.
Tue TRAIN l. that THIS act urN.r was uugthin.
bus q trahsp trent sNlndle licaed into shape uN
tus Grant ware ullrrs, IA a political vl4er.sar'
for the Iurp Of caj liia- the people ahl tn.
lcr.etdttlig purity asceuden y. II lgd beef
/ loOptrd iu 4ucu-, aud was puf through oOtl
/ nuii.ss ot 4 sHgte-s under whip aui srur. /
vas not onl 90 Gen. II twley cuatse-. lnIuer
irft ~ It's Diet 'il-, hut 10 " - actu ill, hcm
u unalun, and WAS 50 Intended hy IT. author
" III au, man VINO reflects upon the untul'
evils wnich the party nOW IA power has iuui to.
/ uDHn the natl-n-lpup tue repeated viola
tons ut the sniealn pledges of an early Tcsump
ton Of specie paYmeutr mad" IN acts uI Con
grt-s, is wei As la HE platforms Of las NitOua
! tOnvenuon--upun tue universal suffering, ca
hWiN, ANA de.pMr when It's perm iy ha- en-
tailed ulOu the people. upon tive fostering %
mon poh. 1bDer,, and speculation 70 the NJ
ter ram OF honest lndustry-upln ~, iuuuenc
~ huiidlug up tue combinations OF daring am
degenerate men. wuicn We are accustomed TO de
nuiuin .lc kiug,'-l repeat, viii any sucn MAJ
for AmOineut pretend that thIt uarty can b
deper ued upon 10 parity the administrator q
the Government, t. uring ABOUT the rrstu
ration q the Constitutional currcu 5, ana - r.
WHY the perauinl Industries ~ the country
Contrast TIE infamous record Of the parry /
y iwcr, ~ &c tuc accession OF Grant, VITA tn
IatfiUtir. self-s trriciuI, nnt sttfr-mtu1kr ca
recr u SIuDel j. lideui ana ia n answer ~
whether lie only hope of honest money r.
truncumcut, reform, and restored pros pert,
does not rest upDu tuo tlcettVH Vi a Democrats
President and Congress