New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-08

was always possible in the policy or III tne
Secretary. Hence it is but just TO hold the Presi-
dent responsible. But what happened! Things
were done and then denied. a course was
commenced, and as soon as anybody Iouhu 1.
out, was abandoned and disavowed. 10 re-
sumo In the dark, and by stealth. was not
possible, as everybody knew, and yet the
course of the Administration tended to that OF
to nothing. Bonds were opened TO pnDhc
purchase at par, and yet the oynuic''o
was permitted to determine what adVcr-
tlsement WAS desirable, what class oil bonus
should be placed in this country ana 10
what extent the Treasury should employ
gold for purposes of resumption. Cold
was bought, according to the speech OF Mr'
Sherman in Ohio because he deemed 1t his
dutv to purchase and redeem notes required
to be retired under the Act OF 1870, ana YET
five successive months have since elapsed, ana
notes to the amount of several millions nave
been retired, without any corresponding pur-
chase or redemption. In brief, the p0licy OF
tho Treasury, if it can be called policy, has
been to sit still as long as possible until
knocked over by the regulating spirit Ill
Ohio, and the President took pains to make
that spirit stronger when he offended public
sentiment in order to secure the election OF
Senator Matthews.
A great opportunity came-One of those rare
chances which come but once to the most
fortunate of men. Resumption was the one
thing which the Administration must elect
or utterly fail The people offered over T0o'
600, 900 in gold within single month, every
dollar of which could have been used to make
resumption inevitable before Congress coulu
meet But "Ohio opinion" prevailed, and
the magnificent chance was thrown away.
Whose fault Is it that the outstanding legal
tenders were not reduced below S3OO,OOO.-
600, and the premium on gold wholly ex-
tincuishcd before Congress assembled No
one knows; no one need ever ask. The
President is the responsible head of this Adj
mnistration. If he was not satisfied to take
the responsibility, he could have made any
change desired.
Finally. we come to the session Of Congress.
Still it was possible for the President to rally,
organize and lead the friends of the public
credit But he had a theory. No doubt II was
suggested by Mr.. Carl Schurz, who has been
Conspicuous for Utopian folies OF this kind,
and who has so undermined little squad OF
Washington writers with his hobbies that for
six months they have made whatever ncwSpa-
pers they could reach clamorOus with Them
But il became the theory Of the President when
he adopted and acted upon it. And 1t was this:
That the people had elected him Chief Clerk
of the Executive Department, and that he had
no business to NEEDLE with legislation. I'm
happily, however, hc did NEEDLE to make mis-
chief lie contrvcd to make such appoint
mcnts rs 10 arouse the hostility of nearly all
the Senator's of lis own party. II he tram
pied upon his own rules 10 please anybody,
it was usually 10 please some member of the
opposite party or some extreme opponent Oh
the principles TO which the President had
pledged his support. Amusement came first,
then irritation, then di>quict, and finally
willingness "tO see the President snubbcd
"anyhow," whatever the consequences.
Such is the record of one year Of President
HAYES. II ought to be criticised, frankly and
unsparlngly, and those are his best friends who
tell him the truth. Thus far. his admnlstra-
ton is n failure. IL is doubtful whether he has
still the power to make it anything else. But
if he means to try he ought first to comprc-
bend that the credit of the United States
is more important than C0llectorShip III
Now-York or crusade of the Secretary OF
the Interior against bureau officers or post
masters whom he personally d>likcs and see
ond. to employ with some intelligence and force
his legitimate power to defend the public
credit