Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-12-22
AMERICAS BRIGHT PROSPECTS.
What the Leading EsgLisI. journal Thinks
of OMr Financial Situation
london Times

What the Leading English journal 1hinks
of OAr Financial Situation
London Times.
The meeting of Congress at Washington yes
terday was SO nearly coincident with the meet
ing of parliament at Westminster on Thurs
day next that a comparison cannot fail to sug-
gest itself. Nothing is more remarkable at
| first than the contrast between the situation in
| the United States and in this country. There
domestic affairs and the prosecution Of long
| settled financial policy engage the public at
tention; here, our foreign relations are of prt-
dominant interest, and the government is eu-
tering upon novel and arduous enterprises for
the assertion of English power in distant lands
Every body in this country welcomes the reas-
sembling Of parliament and the assum ption hy
the representatives Of the electoral body Of
their share of responsibility in matters of state
very different feeling prevails in America,
where the possibility of interference by Con-
gress in the financial policy of the treasury is
looked upon with regret and alarm. If the
law had not enjoined that Congress should be
convened on the first Monday in Decem Der, and
if the executive had any alternative course be-
fore it, we may be sure that the wisdom of the
legislative branch of the government would
not now be consulted. The business upon
which all minds are bent is the resumption of
specie payments, and this is regulated, in de-
fault OF subsequent legislation. by the act of
Congress of 1876 which declares that on and
after the 1st Of January next, the treasury de-
partment must pay coin on Cemand for all out
standing "legal-tender notes." better known
as ''greenbacks." The Presidents message.
before approaching the vital question of re-
sumption, drew u general picture of the state
of the republic. He congratulated Congress
upon the preservation of peace, the mainten-
ance of friendly relations with foreign powers,
the strict observance Of neutrality during the
recent troubles in Europe and Asia, the ahund-
ance of the harvests, the revival of industry
and commerce, and, above all, the fact that the
national credit stands higher than it ever stood
before. The good fortune of the United States
in having little Of what we know as foreign
policy is illustrated by the space which the
message gives to the negotiation with Mexico
on the subject of the border raids The Presi
dents language is conciliatory, although he
contends that stern repressive measures cannot
be dispensed with on the side of the United
States. Evidently the feverish disposition to
pick quarrel with the neighboring republic.
which was reared with some reason while the
Democratic reaction was proceeding, has now
abated. indeed, both abroad and at home the
pros pect Is M ost encouraging, if only the ma
tional finances could once more be established
on secure foundation. The dealings with
the debt are satisfactory, and could the cur
rency be brought back to ''hard money!
basis and cleared of the complications of the
silver coinage, there would be no reason to
question the prediction that America is enter
ing upon new era of prosperity