New-York tribune., 1876-02-29

The hard-mOney Democrats begin to realize
their situation. The Caucus Committee is
still wrestling in vain with the effort
at hamOnizingr oil and water. The
inflatiOnists and rcpudAtors in that party
are in earnest, do not yield hairs
breadth. and will inevitably drag the
party down to ruin unless the currency ques-
tion can be settled and put out Of the way
before the nominating conventions are held.
Every attempt 10 compromise with them has
failed, although in these efforts the hard-mOney
Democrats have gone so far as to shake public
confidence in their sincerity. For weeks there
was a desperate effort to make it appear
that there was no real disagreement.
Again and again we were soemnly in
formed by yeracious Democratic reporters
that "not single Democratic infationist
"could be found in Congress- Yet the
gulf which separates the two clements remains
as wide and deep as ever the prolonged ses-
siOns of the caucus committee will doubtless
result in two reports, with the committee
almost equally divided and the haTd-mOney
men, OutvOted in caucus, must surrender or
bolt. Tho vote on Mr.. Holman's resolution
showed that nearly twO-thirds of the Demo
Gratis were ready TO follow him. The unhappy
hard-money Democrat who has tried in vain
to barter away nearly all his convictions be
gins 10 see that he must surrender all, with
out reserve, or break from party ties and fight
for his principles in defiance Of caucus dicta
ton.
1t would have been infinitely better for these
men if they had listened to the warning 80
often given by TIE TRIBUNE, and had re-
solved at the outset TO fight in open house,
without any parleying and bmtcring with
enemies Of the public honor. In the end they
must choose either a bolt or absolute sur
render. If they make the fight in open house,
Joining with bard-mOney Republicans, they
can force settlement Of the question, and
secure the passage of resumption act.
Taking any other course, they will be not
only whipped, but dishonored by fruitless
efforts to sell their principles. The last chance
of Democratic success i'll the Presidential
election will vanish, and with sckenlng
consciousness that they have destroyed
their party by their want Of courage,
they will go home TO hard money CON
stituencles and learn that they have also
destroyed themselves. In truth the attempt to
barter and compromise has been pushed zoo
far already. When it was proposed 10 yield
the repeal Of the act Of 1915, the inilationists
saw that they were masters of the situation,
and that the hard-money men lacked pluck.
From that hour they have grown more bold
and unyielding with every concession. "Iou
"confess that the Sherman act is worthless"
they t1iuInphantlY cry then repeal 1T with
"out ceremony. That il all we want and we
"will take nothing less" But every honest
man knows that iepeal Of the pledge given to
public creditors, If not attended by ample
provision for equally speedy payment, il re-
pudiation.
The hard-mOney men find their position un-
tenable and intOlerable. 1t can end only in
ruin to them and to their party. They cannot be
too hasty in getting out Of it, and hence begin
TO talk of the only mode of escape, TO which
they should have resorted at the very opening
Of the session. II they offer in open house n
strong measure for resumption, such as Secre-
tary BristOw recommended, support il reso-
lutely, and force it TO vote, they become
masters Of the situation. If the Republicans re-
fuse 10 support the measure urged by Republi-
can Administration, il they refuse TO take steps
to fulfill the pledge given by Republican Jegis-
lation, the tables will be effectually turned
The pot will then have little chance 10 call
the kettle black the same disgrace will rest
upon both parties. But Republican leaders
will not dare thus TO throw away whatever
advantage they have. and IN all probability a
genuine and honest bill for resumption would
pass. II would put Mr.. Morton and the repu-
dating Republicans of Indiana ip tight