The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-02-23

politicians will even temporarily forget
their vocation, aud allow Themselves 10 be
transformed for brict period into flnan-
piers or staicsmon, although the demand
for such transformation is Imperative.
On the one side are the Republicans.
pretending they want to confer on theSe
rotary OF the Treasury express authority
70 60 on aud accumu ate coin for the pur-
pose OF carrying out the law of the last
Congress, directing the resumption of spc-
de payments Yet they really wish to do
no such thing for fear of the political
effect Of such action on some of the West
ern States, such, for example us Ohio ana
Indiana. On the other hand the Demo-
prats cannot find anything better to
90 than Ia clamor for the repeal OF the
resumption act; an act without efficiency
and without sense even, in its present
naked and lifeless state. The act does not
mean ANYTHING now, and did not mean
anything when IL was passed 1t stands u
record OF partisan imposture. 1t is
powerless alike for good or evil. 1t is sim
ply imperative and barren. 1t Is an empty
declaration. Why not let it stand rs n
monument to illustrate the hypocrisy of
the men who passed 1t? In what other
way coull they be made to appear so con-
temptble2 II the Republicans can afford
10 let the act stand, we do not see why the
Democrats need modest It. 1t does not ac-
tuslly touch the subject OF resump-
ton, or the volume of the currency,
or relate in any manner Whatever
70 the financial question. Whether it
continues to remain on the statute book.
Or Is obliterated utterly, makes no
Adherence IN respect of our progress for
ward or backward with the financial
problem. 1t is n grotesque dis1gure-
ment Of the statutes, for which the Re-
publicans are responsible. and of which
they alone have to be ashamed. The
Democrats need only to turn their backs
Oh It, and to agree upon such action as
the occasion calls for, just rs though the
BOT In question was not III existence.
We recommend this course to Senator
THURMAN and Mr.. HOLMAN, who, we
observe, think the act ought to be
repealed. They may think this is
good ground for them to take from
political poiut OF view, but having thus
expressed themselves. we trust they will
now turn their attention toward pro-
posing som netting substantial aud effective
In stead of it.
The proposition OF the Republicans to
60 ON AID accumulate coin to redeem the
Rreenhacks is one they do not want TO
pass, and do not mean TO pass 1t Is
peither good politics nor good finance.
II IL easy to show that it is unpopu-
lar. because it takes the bull by the
HV ctf.afittrttpor
backs all in a lump on given day
Of year but n little way of. It
Is thus both a clumsy and an offensive
form Of resumption. 1t will excite the
latent hostility Of every man who is not a
pronounced hRrd-mouey man, willing TO
take the consequences of a return 10
specie payments in whatever aggravated
form Il may present itself. The PROPOSE
don is thus wholly impracticable; and
we repeat, il is not made 60 be passed, or
offered for real adoption, or with any
intertlon except to temporarily tickle the
hard money men in the North. In finan-
eihl point OF Wow il is just rs defective
as in its political aspects. The Govern
ment has no need TO pile up coin to re-
deem its greenbacks This is as crude
In idea rs would be clumsy in exc
oution. To set the Treasury to work 10
gather IN two hundred extra millions Of
coin 20 redeem the greenbacks-aud no
smaller sum would answer the purpose
wOu'd create financial disturbance
throi-hout Europe. The attempt would
at once pu, ENGLAND on guard, and
GcinllY and France on guard, to
prevent the supply from being drawn
from ih"m. This would cause restrc-
tcp Of discounts, and consequent en-
oaii7sSinont IN trailing circles, derange the
sAch lpgc., aud get up Il general financial
contest 70 see who would suffer least from
the %: 'ratiJ.ls az dc V"-,,s<ees. Such ale.
turual.re would raise the rate OF interest E.,
Occ.t Ion the fan and to some extent the re-
turn OF our bonds and thus tend TO thwalt
our purpose Of increasing the stock Of the
prgci .u- metals with a view TO resumptio n
ILe Iirn r. ~ thus totally inadmissibie
a. .py uan possessing thimbleful OF
IoH.' on ,ne subject. IL Is moi the way 10
bot lh.ut reform in our currency.
o. ihr contrary, it il just the plan an
sueIAy woalI suggest who wished to dis
gu. 'h- country with every attempt to re-
tui. no .p,cir payments.
1ler' is, tt.cn, no scheme before Congress
In ace atll q the amendment Of the iinan-
cial si'nltnn, that l. deserving an Instant
oouSi leiation, The proposition of Mr.
Tnur'tS ANA Mr, HOLMAN TO repeal tn,
resumption act, ~ we have seen, mean
nothing; aud If is clear the proposal to EN-
power the Secretary Of tho Treasury (,
accumulate coin TO redeem the green
backs equally means nothing.
Something else then is requisite. l. /
possibla to get anything out of the politi
ciausi Wvece hOw difficult, IL not lmpos
nbie, is. Itdoes seem almost q burlesqnC
70 think Of going among n bevy OF oandi
dates for the Presidency, and asking then
10 consider purely financial question OF
Its me its aud then to come to the from
and discuss and vote on It accordingly
We may safely say the candidates vii
not do ii. so far as it depends on theI
10 lead the country and to lead Congress o.
this subject, we must leave them entirel
aside. They are no better than pOlltica
eunuchs in any vital matter They suI