New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-03-15
PTJhOTS UNCERTdINTY.

Financial uncertPinty scores another victim.
Is il too late TO appeal to Congress for real
relief? Industry is struggling to revive COM
merce shows many signs of improvement; but,
as often as more hopeful spirit appears,
new list of failures comes TO Shattcr confidence
once more. Cannot Congress look behind the
varying incidents, and see that the main cause
of II these disasters il its persistence in
policy not merely vicious, but actually the
worst in immediate effects that could possibly
be chosen This is not an exaggerated state
ment we speak tue words OF truth and sober
ness. If any definite and settled policy could
be adopted, wise or unwise, honest or knavisA,
we believe that the present effects would be
better than those which flow from the tortrir-
ing uncertainty that now exists. No man can
know what to do or to expect Congress may yet
repeal the Bankrupt act, or the Resumption act
of 1875. orreduire a greater or less boarding of
gold, or continue the funding process, or arrest
it completely, or change the tariff little or
much; in short, there is no interest, industrial
or financial, which this fatal uncertainty does
not affect. The worst scheme OF imitation would
at least give some momentary relief to mere
SPECTATORS, some feeting hope to bankiupts,
and fair warning to capitalists to proyid'
against the crash sure to come not long after.
But the haunting dream without the reality OF
imitation brings many of its worst effects
without any of its mOmentary and deluslve
benefits; it hurts everybody, and helps nobody.
ANY stern and vigorous plan of resumption,
though it might bring loss to many, would
probably cause less disaster than mere CON
tinuauce of uncertainty for another year, and
meanwhile it would afford to legitimate
business and honest industry a solid basis for
calculation as to the future. Must Congress
persist in doing the worst it cant
Thanks to the manly protest OF few hard
money Democrats the so-called compromise"
devised by Mr.. Payne and others is probably
dead. No one cares whether it comes out of
caucus or not, because it is now believed that
it cannot even pass the House over the veto
sure to meet it. Is it not possible now for the
few capable members of Congress to take
new view of the situatiOnf They must sec that
no partisan advantage can be gained by prolong-
ing the torture Of the business COM
munity, and that none is likely to be
gained either through merely parti-
san efforts for resumption or for inia-
ton. Can they not embrace the opportunity
to do something for industry and trade, and
something for tho public hOnor2 Put aside
for tho moment the thousand theories and
auibbles which darken counsel, and look at
the factsl The United States has given a
pledge, by formal acts of Congress approved
by the President and in no other way can the
public faith be more fully and solemnly
plighted. In 1869, it pledged that legal
tender notes should be paid in coin at the ear
hest practicable moment, and in 1875, that
this payment should commence not later than
January /, 1879. These are not the pledges
of a party, but of the United States; if they
are not kept that flag which decent men Of
both parties should guard will be dishonored.
What IL the Objectoni This, and no other
that payment will cost something. will cause
some personal loss OF suffering. Let it be
granted. Do we value dollars more than liyes7
What member of Congress would dare to go
before any constituency, and advocate national
dishOnor on the ground thai it would cost
some lives to protect the fagf Are we to
welcome dishonor in order to save some dol
| lars7 But mark! the mere delay and uncer
tainty are inhicting, month by month, loss
greater than full payment OF public obliga-
tons would involve. Cannot Congress stop
this fearful waste7 II members who care
for tho public honor will meet, irrespcc-
tive Of party. they may or may not be able
TO agree upon . simple act embodying the