The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-19
SubpGnas Going Out from the Banking
and Currency Committee.
PRESIDENT HAYES LEADERSHIP.
One Years Record of the Administration
by Republican.
TIE SHANGHAI CONSULATE SCANDALS.
FROM ous SPECIAL CORRESPONDENT.


INFLATIoNlsTs AGAINST REsUMpTIoN--
FOR THE LEADERSHIP OF THE NATIONAL
MovEMENT-THE GREAT ISSUE OF THE
NEAR FUTURE
The infationists in both houses are seriously
alarmed at the favorable prospect Tor resumption Of
specie payments ana mean make last and despe-
ratio struggle to keep the currency qucs-
lion In politics. They in precisely the
position OF u carpet Dagger In Louisiana
who opposed the Wheeler adjustment IN 1878
IN the ground that 'Coniound it, II Will denationahze
The Louisiana question:" Mr.. Ewipgs friends are
greatly disturbed because they have Of late begun 10
rive voice their hopes that Ewing might become tho
head OF Presidential ticket 1850 and sweep the
country for rag money, and plenty OF it," There does
not seem to much chance for SHIN
plaster candidate there was and the result
is that Secretary sherman is denounced as the
most perfdous OF mortals, and If tho innationists
cannot MIN they WILL at least, make faces at
him. IL Does not to occur 10 these people that
they mako themselves laughing stocks Tor the coun-
try by demanding the repeal OF the Resumption act
when paper IS within small fraction OF par with
gold. IL is a par with the demand Of the anti
Hayes republicans that The Southern question shall
bc reopened when there |. no longer Southern
question.
That the infationIsts and repudIatonists are mere
agitators ami look practical results is
by the fact, well known 10 them 10 any else,
that they cannot repeal the Resumption act. They
may good deal Of time in foolish discussions
bu. they know perfectly we'll that propo-
stion OF theirs hostile TO Mr.. Sherman's policy
10 resumption become law, because IL
earnot get tho thirds In both houses
sary pass 1t over Inc veto and vetoed 1t would, of
be, because the administration will sign
bill defeating Its own policy when that policy BRING
Ing the country back TO prosperity. the country
ougut to understand that considerable number oi
energetic ambitious and INSCRIPTIONS men IN Con-
lress stock in the unlimited greenback and
socaed "national movement, +" hoping and believing
that they had put themselves at the head OF the pro-
ccsslon which WAS surc to march into the White
House in 1880 good many men had really per.
suadcd themselves that they had found and cap
tured The slive issue" Tor the next PRESIDENTIAL
campaign, and that events would carry them
INTO power. II spells their tcmpers to
lncir hopes blasted, TO sec their pet .'ssue"
dying their hanos, and TO feel that in all proDa-
biiiy. the currency question will DO as dead next
fall as The LOUISIANA question 10 now Hence this
sudden outbursL II may not be amiss 10 have new
currency DEBATE in both houses the lace OF green
backs par Inc country AS well as Congress
may be enlightened by such a discussion, and at
any rate the people will be able 10 see
Tor themselves. WHAT are the real designs Of men
who oppose IT'S returning prosperity Public con-
hIence in the iulure need not be shaken by such .
debate. because the inhationists arc poweriesS
They cannot pass their Diis they can only talk The
,lIlu fact ttat we seem TO be going on To resump-
speaks Tor ITSELF The condition OF tue
;ountry such tDat With TINS boon OF
sound currency secured boundless iutnre of pros
perty opens before US. Our manufactures have be-
come known TO the world as the best OF Their KIND;
foreign commerce slowly but steadily extending
10 nt,rD MT
home, money VIII no longer Idle at the commercial
centres, nor men wander unemployed over tho
country. IL Is we'll known that with a revival Of
Prosperity the country requires new and more
manu- actures; with only 6 moderate foreign trade,
ior instance, aud an average homo oonsum ption Is
known that we th4i require new cotton mills. be-
the proportion OF spnales to population Is less
now than u was Ia 1850.
abe important question to politicians
nov, few here already begin to see is winch
Of The great parties will quickly put itself
the head OF the movement for giving |
10 the people sound currency aud moderate tariff,
10 secure our ufacturers adequate oreign
market aud thus give employment at fuli time to |
operatives and ali country anu START
new enterprises al home. SO far nettner parry has
ventured on this ground; but the wiser democrats |
and republicans Degn 10 see and privately to
discuss lhe future In this iigh,. They
really dead, and that tue questions press for.
wara anu WILL not be put OH IL Is generally admitted
that while ne machinery Of tue two parties will
survive TO DO used in the next Presidential contegt
there must be new principles aud policies, aud the
real que tou tho immediate future " which party
will make itself the friend and exponent Of
returning prosperity for the country, when
Will tho OCCASION which offers TO father the
and liberal policies on which that pros Perily must
opportunity which offers them Many OF
their sull hope win = success. at
least IN Their districts, by pandering TO the IN.
nsiion spirit. The republicans In the
main timld; tney fear TO lose ny change OF their
line 10 the lace OF the enemy and moreover they arc
ss fatally divided on the currency their opponents
and for the most part ultra protectonists, yet
lew each aide are ,hinxng aud slowly coming
TO dctermi nation Tor the future
Mr.. EwISG's sUIIGSA ron SECRETARY sHER-
MAN AND TnE NEW YORK BANK gs-AS-
OTHER MOVE AGAINST ASSUMPTION.
Mr. Ewing VINO now controls the BANKING and Cur.
Ysncy Committee, and who means to make all the
trouble no Tor bis cousin, Secretary sherman,
has determined 10 do what he can 10 disturb
MS plans Tor resumption HIS subpoena to the
Secretary and the members Of the syndicate
Is on the pretence mat there Is some secret
agreement between them, and he means TO annoy
Them about thix lie has called number OF New
York bankers here also Messrs. John A. stewart aud
vcrmiye arrived tonight, and viii testify before Mr..
Ewing tomorrow. Mr. Bliss, OF Morton Bliss, will
BIO here on Monday. People here are asking who Is
Mr. windcr, tho New YORK innauonist whom Mr..
Ewing got over here to te,t.y, aud who
went much further than even the infi-
iiouists expected that he alarmed Mr. Buck
nrr and others. Mr. Ewing urged
70 summon also Mr. Richard sonen, who, u 10 under.
stood. will testify that, IN his opinion. the country
ean most easily and cbcaply be saved by digging
lreat national ship canal between New York and San
francisco, and paying Tor u In grecnbacka The In
Oat'onists on the Banking and Currency Committee