Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1876-02-23
From the Nep York Tribune 2lsf.
Mr. NONJZIVG" ON FINANCE.

From the Nec York Tribune Dist.
"HdRNONIZING" ON FINANCE.
Tomorrow night the Democratic caucus
is going to try and "harmonize" on the
financial question. 1t will be curious
performance, and the country will watch
the result with interest. 1t may not pro-
mote the immediate chances of Eastern
Presidential candidates, but it will greatly
subserye the interests of honest politics,
if the hard-money Democrats make firm
stand at the outset. We confess that up
to this time their course has not inspired
US with much hope of it. They are not
inflationists, they aver but are only op-
posed to 1.-THE Sherman sham" They are
not repudiationists; perish the thought |!
But they merely want to repeal the formal
pledge of resumption in order to get some
thing better. Whenever they are pushed.
their something better proves to be some
thing slower and more uncertain. They
are following closely in the footsteps OF
their great examplar. Ensign Stebbens.
who was in favor of the Maine law but OPP
posed to its enforcement. We have not
wasted any admiration on the bill passed
by the Republicans year ago. At the
time we charged, and we now believe,
that many of those who voted for it did
SO because they believed it would prove
Intellectual and worthless as measure of
resumption. Hence we have fully criti-
cised the measure, as an evidence of Re-
publican sincerity and wisdom, and hold
that Democrats are quite excusable when
they criticise it in the same spirit. But
when they talk of repeating it. that is
very different matter. The United States,
by formal act of Congress approved by
the President, has pledged itself to re-
deem its long-neglected and dishonored
notes on q certain day. Any amendment
providing better means for fulfilling that
pledge, or proposing to keep it at still
earlier date, would be perfectly consistent
with good faith. But any repeal of that
pledge, being declaration that the United
States now refuses to do what one year
it solemnly promised to do, is sheer re-
pudiation. No sophistry can make any
thing else of it. The worst enemy of the
Democratic party cannot desire it to be
guilty of more fragrant act of bad faith.
The hard-money Democrats, so-called,
profess that they desire specie resumption,
and do not mean to prevent it, but only
to provide means for its accomplishment
by repeating the act of 1875. These gen.
tlemen may cheat themselves, but they
will not cheat anybody else. Their bills
invariably provide for repeal; whyP Be.
cause they do not intend to bring about
resumption as early as Jan. l, 1879, il
ever. They know that this is the object
and the people know it. Every bill Of
fered by those Democrats is calculated tc
defer resumption. So much its trainers
themselves admit in their discussions il
caucus and elsewhere. Not one of then
will pretend that his bill can by any posi-
bility bring about resumption as early a.
the date now fixed. But this is not the
worst. Every such act contains provis
ions concerning the practical effect o
which sensible men differ very widely
and the utility of the scheme of resump
ton depends entirely upon these features
If they work as well as the pretended
friends of resumption expect, they may
bring it to pass in six, eight or ten years
but if they fail? Then resumption will
not come at all, excepting after genera
bankruptcy. Thus these hard-money Dem
ocrats propose to repudiate the pledge to
resume on a certain date. and to make
resumption dependent upon the working
of provisions the effect of which no man
can foresee. They know that they are
thus placing resumption itself in doubt
The country knows that this is exactly
what they intend. The TRUTHS as plaiI
Is the sun at MONDAY; they are trying IL
please Democratic inflationists and repu
diators, and for that purpose are Willing
10 make resumption depend upon yer.
doubtful contingencies.