The Republican. [volume] (Oakland, Md.) 1877-current, 1877-12-08


of action has borne and will continue
to bear good fruit in the South.
"PoliticaI turmoil and turbulence"
he writes, "have disappeared, useful
industries have been resumed, public
credit in the Southern States has
been greatly strengthened. and the
encouraging benefits of a revival of
commerce between the sections of
the country lately embroiled in
civil war are fully enjoyed" The
objection to the Presidents roseate
view of affairs will, of course, be that
whatever prosperity and peace exists
has been obtained at the price of the
subjugation of the Republican party
everywhere south of the Ohio and
the Potomac, and the suppression of
the negro element as a vital force in
politics. But he has not failed to an
ticipate this criticism; and he makes
to the Southern people an earnest
plea for the protection of the welfare
of the colored race, at the same time
pledged himself to use whatever
authority rests with him to guarantee
"the enjoyment of every constitu-
tional right" to which all classes of
citizens are entitled. We may hope
that this paragraph of the Message
will be earnestly studied in the
South.
The Presidents reasoning on the
financial issues calls for close read
ing. He does, indeed, commit him
self CLEARLY and irrevocably to the
resumption of specie payments and
the obligations of the United States
to pay all the bonds in gold. He
takes no advantage of the bubble
that as they specify only redemption
sin coin" the Government can i'm
pose upon the holders of them in
settlement the reception of the baser
metal-namely, .silver. He says in.
one place that "all the bonds that
have been issued since February 18th,
1878, when gold became the only I'M
limited legal tender metallic curren-
cy of the country, are justly payable
in gold coin or coin of equal "value."
And again, that "the bonds issued
prior to 1873 were issued at time
when the gold dollar was the only
coin in circulation, or contemplated
by either the Government or the
holders of the bonds as the coin in
which they were to be paid" This
is definite enough as to the Presi-
dents rejection of the Democratic
notion ofdefrauding the public credi-
tors with silver, and he clinches it
with the observation that sit is far
better to pay these bonds in that
(gold) coin than to seem to take adj
vantage of the unforeseen fall in silver
bullion to pay in a new issue of silver
coin thus made so much less valua-
ble'" He also puts very squarely the
fact that if the Government main
tains the national honor it will save
more money by funding the debt at
low rates of interest than it could by
forcing silver upon the holders of its
obligations. The point is not new,
but we have never seen it more adj
nrirable and convincingly presented.
Still, the President cherishes a kind
ly leaning towards silver currency,
not as an unlimited legal tender, but
to be restricted in that capacity by
boundaries which he confesses him
self unable to define. If silver ceases
to fiuctuate-if it only settles down
on a fixed Valuation-the way is
opened towards its use as currency to
a restricted amount; and the Presi-
dent intimates that the legislation of
Congress must take into view these
contingencies. There is fortunately
no doubt that if the bill'for the repeal
of the Resumption act and the Bland
Silver bill, both of which are now
pending in the Senate, ever reach
him they will meet with prompt
and emphatic veto. The gentlemen
who are afflicted with the dollar of
the daddies and the rag-baby mania
will find no comfort in the Presi-
dents message, except such as they
may derive from his modified en-
dorsement ofsilver as legal tender to
limited extent.
Mr.. Hays next takes up the reform
of the Civil Service. He has no hest
tation in avoWing his opinion that
the abuses of the service have arisen
from its subservience to political in
fluence and the interference ofmem-
Der of Congress in appointments.
Mr., Hayes would have his authority
in the selection of officials entirely
unquestioned, and comedies to the
Senate the equally undisputed power
of rejection or confirmation. He
casts no favoring eye upon the theory
of rotation in office. but believes that