The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-26

top il IL delegate to the Cincinnati Convention OF
1872 (which reunited tho question OF free trade to
the Congressional dstrcts), who expects OF
q party controlled by protectionsts. whoever their
ttular head than of trained and instructed econo
mist like Governor flden. leading party which IN It's
ST LOUIS plaiom:dared to denouncc, in
and IN detail IN cause aud in consequence, the mon
Of the present arn and that goes
the whole country
But as to the Immediate problem OF specie payments
aud the parity Of power in The chiefs OF the two par
iesnay, let me rather say, Us to the capacity OF
republican President to carry out that rcorm-thc
denec to satisfy or even TO encourage you tar to seek
General Hayes us an cxhorter TO specie payments
would never surpass General Grant Hc would never
approach his personal supremacy. What has General
Grant done for specie paymentsp That he did prevent
one initiation lot us gratefully remember. But
with all his celebrations and oil his personal suprenl-
acy what has he been able ailirmatlyelv 10 effect
Like General Hayes he quite lacks that high personal
competency to deal with the difficulty which would
have assured to the Executive initiative the
OF legislative Ratification He could bulge his
party inch. Could General Hayes do morcY
WHAT THE REPUBLICAN PARTY HAS DONE WITH THE
CURRENCY.
Governor Hayes, like President Grant would be
Obliged work through party Interested In every
abuse and tho heir OF It's history. He would have
to deal with the party which created legal tenders;
which cancelled the early provision for their exchange
into interest bearing bonds; which made the law that
enabled President Grant to pack tho Bench OF the su-
premc Court with Judges wiling to reverse its previous
decision against the consttutonaty OF the Legal
Tender act; which in every year Of aud during
ten following years peace BY successive .naalons
put fresh hindrances the way OF resumption;
which violated unblushingiy every partisan and
every Official pledge Of purpose to resume which
issued by executive usurpation, notes issued without
constitutional authority; which has transcendcd tho
war limit imposed upon such issues, even by The
packed courts last legal tender decision; which
fused to destroy the notes withdrawn by Secretary
Bristow (repiaccable 100 to so by national bank
notes. and openly declined give security that thoy
should not be ressued as were those Withdrawn by
Secretary Mcculoch; which IN March, 1869, solemnly
pledged the faith OF the United States TO make pro-
visions at the earliest practicable period for the
dcmpon OF the uniled states notes in CON- and winch
IN 1875 again. Tor the hundrcdth time dshonorod that
public faith by passing Jonn Sherman's shnrn naming
January l. lS73 rs the day Of resumption. and
providing and preparing for that resumption
With surplus which has never been
cumuialed, with a sale OF bonds which have
never boon sold, and with expansion of payer
which has only not been realized bccause in Tho
disastrous extremity TO which republican charatans
and plunderers had reduced the business OF the
try, imitation ITSELF except by greater increase OF
governmental expenditure, had at last become mpos
sble.
THE DEMOCRATIC PARTY TO SUCCEED.
Wc shall succeed. Ohio and Indiana, hitherto re-
poatediy lost upon false issuca will probably both DO
carried in October by the democracy. Ohio will GER
tanly DO lost the republicans, though the
State OF their candidate. Tho democrats cannot but
be victorious upon the sound issues OF the ST. Louis
platform aud Governor Tidcns letter OF acceptance. !
venture the prediction.