The New York herald., 1878-12-02
A War on the National
Banks PreSaged.
FROM OUR SPECIAL CORRESPONDENT.

WASHINGTON. Dec. /, 1878.
rHE OPENING OF coNCIlss-TEsoR OF THE
PRESIDENTS MEssAGE--vIEws OF THE TWO
PARTIES oS PROMINENT QUESTIONS.
The temper prominent party leaders of both
sides is for the present remarkably conservative
Both sides feel that neither afford to lose a
trick and there far greater and more noticeable
disposition than at the opening Of Congress for q
number OF years past be careful to shun exciting
questions and "give the other side chance to
make blunders.'
PRNsIDEYTs MESSAGE.
The Message will be quoting document. il is said
Friends OF the President assert that he viii be found
to speak very moderately and sensibly the South
elections, and, while agratulatng the country
the general prevalence Of peace and good order in
sll tho states will report Congress that in certain
Congressional districts complaints have been made
to the proper federal officers of violations the
federal election laws that he has issued instructions
for the prosecution of offenders and. IL is said,
that he will ask Congress to Irake additional ap
preparation of money to dsfray the cost of the neces
sary trials the appropriation made at the last session
carry out the federal election laws being INSULT
sent by reason of these unexpected demands upon
It, II the democrats wise they will grant the
quired sum At once.
ELECTIONS SOUTH.
The republicans express that the federal eiec-
tion laws not framed to all the
Of wrong charged. They forced to acknowledge
that there has been intimidation. least in the
South. and they doubt whether the frauds can be
punished as they deserve But the republicans them
eevas framed and enacted these federal election laws.
aad they made them odiously severe in many partc-
ulars probable that this any future Con
rress will add to them. The republicans would
ike to get up = new excitement about South
Of
With the intention TO present resolutions
ordering an investigation looking decrease Of
The representation in the Southern States, on the
ground that the negro vote does not forward.
Indeed in quarters .here is disposition dis
franchise the blacks outright by way OF icssenng the
representation of the Southern States. But all these
scheners receive check frem the FAC. that tine
closely the conduct of the Southern elections is
scanned the more it is that frauds and
disorders were local and sporadic and not
systematic and that there is very little rnaral for
new anti Southern cry. The prudent repuhli-
incline to wal: for the result OF the trials which
will presently begin and think il better found any
action which may advisable upon the develop
ments before the courts. But 1t is probable that
superzeaous persons will offer resolu-
tions Of investigation These give as
reason for Congressional inquiry that the
colored vote has to some extent disappeared
in many OF the states but there ussny reasons
for this. Every southern republican knows that the
coored vote cannot be got out without great deal of
preliminary work ard the expenditure of money
promises. The desire to eyade the payment OF
poll tax deters many thousands of colorcd men
from voting and il is notorious that they have
habit Of selling their registration certificates. which
has on previous occasions caused the mysterious dis
appearance Of thousands of colond votes and .
great and 10 many people puzzng discrepancy be-
tween registration ami the vote. IL is doubtful
If the democrats will oppose Congressional investi
cation IL il is demanded by their opponents. They
believe it will do no harm.
CURRENCY QUESTIONS.
In currency matters there is evidently remark-
able change. not in opinion but in policy. from last
session. The republicans come here solid body Of
hard money men, and IL is notable that the small fry
most ~ whom were last year inhationists are now
outspokep for resumption and hard money. They
have evidently received notice that this Is the party
programme. and the perfect discipline of the repnb
licars gives them strong advantage in wheeling
their force into line any policy they may chooss
10 siopt. But the democrats also appear 10 have
learned something They say that thc gresnbsck
movement is as good dead and that it Ia not wise
or useful TO oppose resumption. They have not held
caucus on the currency question ard not united
on H. but the greater number come here with very
conservative ideas.
A LETTER FROM MT. BucKSEE.
notable evidence Of this change in the democratic
mind the currency question is seen in a letter
published here to-day, in which. Mr. Buckner Of Mis-
souri, addresses his constituents. Mr.. Buckner Is
chairman Of the Committee Banking and
Currency. and hiss letter, which Is
markaby sound document. is important
showing what will he the policy of that
committee so far its chairman
control it, he declares that tho constitution does not
in his opinion authorize Congress 20 make anything
legal tender for private contracts and that II leaves
That to states. but prohibits them from making
anything hut gold and silver legal tender, aud he
aids that this il the time hohored democratic doc
tine. He writes
it must be borne in mind that tho matter IN
troversy ~ 60 tho power 0f Congress 90
issue the notes OF the government. That has
been denied, but universally conceded. wen tho
power 10 make them receivable for public dues.
congress has power ito borrow money On the credit
~ the uniic states" And VI II has power 10 borrow
money and pay interest thereon certainly author
i,y to borrow money without paying interest Tho
issue il whether Congress can give these notes the
furttiou Of dscharpiug debts between ind yidiials
aud thus endow them with the attribute OF money.
whether this question b. examined in the light Of
reason authority there il no ppwcr either in the
state or general government to make anything but
gold and silver coin . legal tender, and.
With the exception - the irgal Tender
acts passed during the rebellion and the
srbsea,leut adjudication reported III ~ Wal
iace's United states Reports by fyo 20 four ~
the Judges OF the supreme 'pUrt IHrre - one
,phroken line OF authority against the exercise of
such power.
THE sUEJECT or CONTRACTS
There can be question but that the whole sub
isst OF contracts exclusively within the jurisdiction
of the states. The national government has no
more authority control over the con-
Tracts between citizens Of the States than the
british Parliament or tho French Chamber ~
Deputies. II il state law that determines what
formali,ics shall ~ required in contracts Of every
kind. What contracts arn lawful and how their p.'
torrrance shall bc enforced and what shsll be law
f4i tender and how il IL 10 be made. and IL much
part Of the law Of contracts - the forms and
ceremonies in their execution. They belonged
" the State governments prior 70 the.