The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-11-10

never comes to pass" In fact, this "honest
soldier" bids fair to become ridiculous as
an Executive who would have put his foot
ON the nations head but for lack OF the in
famous kind of courage necessary for such
an enterprise.
| The North american Reviep is becoming,
under its new management potential
force in educating the public thought OF
the country. For half century or more
that venerable periodical was an eminently
solid, respectable and rather slumberous
vehicle OF public instruction; but i'll the
enterprising hands into which it has fallen
it has become as thoroughly wide awake as
the most enterprising of our daily journals
are in different sphere. The best OF its
new features is that it is no organ. 1t seeks
to give the most advanced thought of the
period on both sides of MI disputed ques-
tons; and in carrying out this intention
it enlists the ablest pens of representa-
tive men in every department of knowledge
The Eastern war is discussed by no less q
military critic than General Mcclellan
the business interests of the country by
David A. Wells the Electoral Commission
by Mr.. Stoughton on one sido and by the
trenchant pen Of Judge Black on the other.
Every interesting question, in short, whether
Of art, literature, politics, morals or social
science, by some capable expert OF recog-
nized ability and standing. Each contrib
utor signs his own~.name and is alone
responsible for the view he takes, the only
responsibility assumed by the Reciec being
that trivial questions shall not be discussed
in its pages, and questions Of real interest
never by nobodies, but only by writers who
have valid claim to attention.
In the new number there is an interesting
series of articles grouped together after the
manner Of what On able English periodical
calls symposium" relating to the great
question Of the resumption of specie pay
ments. The strongest champions Of infla-
ton and Of immediate resumption partici-
pate in this discussion. Mr.. Kelley, Of
Pennsylvania, and Mr.. Ewing, Of Ohio, rep
resent the one side, and ex-Secretary McCul-
loch, David A. Wells and Mr.. Ropes appear
for the other All their articles were sub
mitted to Secretary Sherman for his criti-
cism of their conflicting views, which is also
published. We have not space to follow the
arguments on either side, but the response
BILE position held by Secretary Sherman
gives to his statements value beyond
their argumentative force. 1t is to be pre-
sumed that his views are those Of the ad-
ministration. They have o weight rs au-
thority beyond those of the other partici-
pants in the discussion, who have less
power to control the decision.
Secretary Sherman stands by the present
Resumption law and steadfastly deprecates
attempts to replace it by new methods at
this advanced stage Of the question. If the
/, question were reopened now all the winds
of controversy would be let loose and practi-
cal resumption would be lost in the clash
of conflicting opinions. Mr.. Sherman has
no doubt OF the success Of resumption
under the existing law. The progress is
so steady that he believes our paper cur
rency will be ut par in advance Of
the prescribed date. He has no objection
to the refunding Of the surplus greenbacks
in four per cent bonds, which is advocated
by Messrs. McCulloch and Ropes, but he
evidently has no faith that Congress can DO
prevailed on to authorize it. He says that
provision to that effect was inserted in the
Senate Resumption bill, but was thrown
out by the House. There have since been
strenuous attempts to get such a law passed,
but without success. He stands SO unfinch-
ingly by the Resumption act that we are
justified in assuming that any attempt to
repeal or impair it by this Congress would
be vetoed by the President if it should adj
vance far enough to be sent to the President
for his approval. The country, therefore,
need give itself no uneasiness respecting the
repeal bill now pending in the House.
We nre sorry to find that Secretary Sher-
man is not equally explicit and decided on
the silver question. 1t must be said, how
ever, in extenuation, that at the time he
wrote out his views for the North american
Rerie,e the absurd and pcrnicious Bland bill
had not been offered in the House. But Mr.
Sherman has precluded himself from giving
any countenance to the Bland swindle. He
says that silver ''inay be made q most essen
tial aid Of resumption If confined either in
the amount or the mode Of issue or in its
legal tender quality" But the Bland bill
provides for an unlimited issue and I'M
limited legal tender OF course he cannot
favor and the President will not approve
the Bland bill.
i M xarvp Raj a~s naEo -
Sumner.