Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1877-10-09
LETTER IRON WASHINGTON.

!,
To tie Editor of The HeHnsbec Journal.
Returning TO the Capital alter a short sojourn at
the North fluid that the near approach of the ex-
ira session of Congress IS creating stir amongst
the hack men, the hotel and clearinghouse keep
ers, the lobbyists and, lastly, if you please, the
politicians. Each mentioned are setting their
houses ia order, and are preparing to make the
most they can out of the good or bad time COM
ing. President Hayes Is very busily preparing
his message (Which, for the extra session, proms-
Is not 10 be an exhaustive one) and the heads OF
the various Departments are putting the hnlshng
touches to their reports. Secretary Sherman Is
particularly anxious to make favorable impress
sion upon Congress relative to the financial inter-
| ests OF the country, aud judging from the last
monthly statement of the pu rhc debt. should
think he would succeed in 50 doing with all really
sensible me nbers Of tn At body Financially sensi-
Bile mean Messrs. Editors, for would it do for
me TO remark that there senseess members in
that body y
With gold down to 1903 and double the amount of
cash in the Treasury from what there was last year,
with the promise OF faster accumulation the
coming fiscal year, where is the person who is un-
wise enough to advocate the further postpone
meut of resumptionf Aud yet doubt not that
Judge Kelley and several more of his stamp will
take the floor, in Congress, in advocacy OF longer
time, and even imitation OF currency.
The Four PER CENT. LOAN
which the secretary all along, mas Deen 50
ly confident of funding at an early date, hang. fire
At which the greenbackers and even some hard
moneyists argue a setback to the resumption pol
icy. Rightly viewed, however, it argues the other
way. 1t shows that the business Of country is
surely and almost rapidly improving, and that the
surplus money in the hands of capitalists is being
diverted to the commerce al and industrial inter-
ests Of the country, where interest on cash invest
ments promises larger per centage. Money Is
being placed at the disposal of farmers, shippers
and manufacturers, in order that they may en-
large or facilitate the means OF carrying, exchang
ing, or producing. Thus, while the loan may, in
part, remain in statu quo the enhanced and in
creased productions aud exports will enable the
Government TO derive such revenue, or accumu-
late such surplus specie, that it may, without det-
riment, place another loan upon the market at
higher rate OF interest. That is the light it is
looked upon here just al present. So then, this
very fact of failure TO fund the last loan IL proof
positive that more prosperous times have come TO
u.s.
How the greenback party possibly survive
another twelve months (if 1t does,) will be a ques-
ton for wiseacres. Evidently returning prosperi-
ty and this last financial report have made deep
impressions upon OBSERVATION-DISCLOSURES ons
which are generally favorable TO the theory Of
early resumption OF specie payment.
THE CoNKLING IMBRoGLIo.
Senator Conkling's unexpected stand against
the civil service policy of the administration, has
taken the politicians by the ears, especially those
| from New York. These latter hardly know which
side they are on--tbat is outwardly; but inward
| ~, think they consider that Conkling is right.
Yet they quite generally think that he lacked