The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-06-05

practicable. and thus he ia led 10 adopt an
Indirect and roundabout method ~ redeem
ing the grccnbacks in bonds Not cmpow-
cred hy Congress to do this directly, he
undertakes To- do It by indircction. In at
tempting this dodge hc is merely getting
out of the frying pan into the fire.
Tho thing itself is q very good thing 20 do
To get the grccubacSs into bonds is the
primo necessity II is the abridvmcnt OF the
excess II circulation that constitutes tho
very first stop TO coin payments. Mr.. SHrr-
MNN is justified in straiuins n point To
accomplish this end, IL an administra-
two officer ia ever justified in forcing
events which he wishes to bring about,
in opposition to the legislative power
But we can hardly fail to SEQ that in de-
liheratcly proceeding u contract the cur
rcucy 10y tho issue of bonds for that pur-
pose, which contraction Congress has al
ways refused To auth lrle whenever it has
been proposed hc TRUSTS his head into
hornets nest Mr.. SurHNNN has had
! Legislative experience cuoush to know
| this 1t is ono Of the things that can
not loo done in corner. Tho inlation-
lists arc too lively for that. They are
as numerous and active as a SWAIN OF
hllcll flies i'm June I'm the Adironidcks Mr..
SHERMAN viii ho pursued rclcuues-ly 10y
tAcm especially in Ohio, his own peculiar
State.
Ills rrosoni plan escapes the manifold ON
hnrras-mcut- of huyius and boarding gold,
with which We understand him TO have
started out. 80 scheme can be SO had as
that; ana wo are glad to lind that he has
abandoned it. Tho course he IS now on
threatens no dangerous financial COM
! pNeatioAs. a. tho other would. and only
involves him I'm a contest with Congress II
he can fight his way successfully ia bring
! ing the Western country gentlemen to a.yre,
to contraction, and accept redemption. hc
will doa decd inrwhich generations TO come,
and sound iluanciors of this generation. Will
applaud him. But We DO NOT believe hc viii
do This until about the time whom Mr. HAYES
shall have convinced the Republicans Of the
Wisdom " his Southern policy. and tho NOM
hcrs If Congress ~ the impr0prictvof their
modelling with appointments. When those
two things shall have boon acc1mi iiShel,
MI SurhNiAN VIII possibly have converted
the n'iatou.-fs, and persuaded Congress TO
Vote for contraction at the rate of twenty
or thirty milk ns "a month. But however
hopeless We may th.rk Nh SHrENAN's enc
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