, 1877-12-22

the last few days In the House OF Represen-
tatives show that even there the two-thlrd'
majority necessary to pass the Bill ovey
the Presidents head is not 10 be perma-
nently counted upon by the Democrats.
The trial Of strength was taken upon a
Bill proposed by Mr.. Ewing, a Western
member and the chief of the unc omproml-
sing " Ind1tionis's' Of Olio, who have late
lySdefe ated the Presidents can tidate in his
own State. Mr.. Ewils'5 Anti Resumption
Bill was opposed last weeh by the minority
with " Fl iau>tering'' tactics, and while the
majority varied from130 to $40, the mi
norlty ranged from los TO 1914, 1t is obvi-
custom these dglres hat the Anti .Resump-
tionists do not command anything like a
two-thirds majority in the House OF Re
presertatives, while the Senate, IN all pro-
liability will be almost equally divided.
But it must be added that the advocates
OF the r peal Bill have succeeded, In the
absence Of one third OF the members OF tie
House, in defeating the - fl ibnstering op.
ponents," end fixing q day next week
when the measure can be submitted to q
direct vote. TIE President, however, re-
tains the power of thwArting any measure
promoted by the majority walch may
seem to him to be u%jurious to the pubic
interest, and there car be little doubt that
both he and Secretary Sherman are de-
termiued to resume cash payments upon
the date fixed by laU-the lst OF January
1S79-if rot before So tdr, then, the
United States appear to have been preser-
we'd from a very grave danger by the dl-
minution of The Democratic forces in the
House Of Representative and the barriers
placed by the Constitution in the way Of
any sudden changes in the Senate,
But the sofumoaey" Party, def 0'ed
in their attacks upon III r sumption Act,
will be all the more determined to push
forward upon Whrt they consl Ter more
hopeful ground. The Bill providing for
thu remonil,z,lion Of silver, which has
been prepared by he Banking and Hufren-
cy Committee Ul the House, embodlrs, IN
all probability, tie recommendations OF
the Silver commission" appointed at tue
close of the last Congress, and lately re-
called to notice by the Publication of its
Report. The House Committee is almost
entirely made up Of Southern and Western
members, who are hostile TO- hard money"
and Resumption in any shape or form. The
Silver Commissioners 10 their report, say
that Resumption is not practicable until
the laws making gold the ouIy current coin
are repealed. With the arguments by
which this conclusion is supported we are
not here conc rnrd. 1t is enough to say
that the experience and the economical
doctrines OF Europe are equlIly treated
with contempt. But, snppOsing silver to
be declared coin on the same footing as
gold aud restored to the legal position it
occupied before it was demonitizsd q few
wears ago, the question would arise whether
all public and private pecuniary contracts
in which gold was not expressly stipulated
to be the medium of pay nent may not be
satis6 ed by the debtor, if he p'eases, in
silver. 1t is to be presumed, Of cours',
that this would not apply to contracts en-
tered into during the period IN which sill
YER was dem onitized, when a contract TO
pay in coin was unq les ionably, equivalent
TO a contract to pay in god. But, apart
from this unimportaut exception, the poll-t
cv advocated by the Silver Commission
lead s directly and uncompromisirgly to the
conelusion that a contract to pay in coin
may b fairly performed by payment ia