Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-09-25
The Deluded Deluslonists.

complish. should they succeed in carrying
the State elections and in securing ma
ioritv of the next Congress. The nation
has through its highest legislative body
given the most solemn pledge to resume
specie payment on the first of January
next, aud, so far as it is possible to make
a certain prediction with reference to any
thing human, that pledge will surely be
kept~Fhe present Senate refused al
their last session to repeal the Resumption
Act. and the advocates Of unlimited paper
money cannot hope to be able to persuade
the upper House as now made up to stul-
tify itself 1t may. therefore, be consid-
cred as equally certain that no Legislative
agency will intervene to prevent the gov
ernnsnt's IGNORING its time notes on the
day fixed for their payment. Should the
government then succeed in resuming
specie payments on that day. and should
no unforeseen accident intervene to pre-
vent the Secretary OF the Treasury from
keeping the greenback at par with gold
and silver, the day Of the greenbacker
salvation 10 postponed certainly until the
4th u March next, and probably until the
firstMonday OF December 1879. He can
not expect to induce the present Congress
to acknowledge the paternity of the ille-
Ultimate rag-baby.
The greenback party must. therefore,
pin Its hope TO the 46th Congress. Ad-
mitting for the moment, what is exceed.
inQly Improbable, that 1t will meet on the
4th day OF next March, It becomes inter-
esting to examine the probable political
complexion of that body. The lower
HOUSE will probably have quite as many
soft money advocates as its predecessor.
Its capacity for financial mischief cannot
be greatly increased. as 10 the last Con.
gress the hope Of all honest money advo-
Gates rested on the Senate. In the latter
body the greenback party cannot make
very decided gains. Few, If any. of the
successors of the conspicuous hard money
advocates. whose terms expire. will coun-
tenAnce the soft money delusion. How
ever the next Congress may be divided
politically on the question of hard and
soft money. the Senate will stand prac-
tically - ]. does at the present time. By
no possibility can the supporters of pa
per money hope to secure the two-third.
majority necessary to pass their vagaries
over the veto of the President, which
must surely and speedily follow.
But before the 46th Congress couvenes
specie payments will no longer be thing
OF the future. That body will find the
country on gold basis. with prices fixed
to correspond to that valuation. The Ru.
bicon will have been passed, and the hard
est pArt Of the battle won. The question
presented 10 the last Congress was wheth-
er the country was strong enough to en-
dure The effort necessary to put it back on
= specie standard. The question present
ed to the 46th Congress will be-is tn 9
nation strong enough to pass through a
crisis Of feverish speculation, of unsettled
values and possibly bankruptcy We shall
have tried the heroic treatment and the
cheering convalescence will be suficien,
to ensure speedy return to good health.
Shall We then 60 on another drunk for
the Temporary pleasure of the intoxica
ton, II order to cure the headache which
is sure to follow We can conceive of
weak patient. who rather than endure the
necessary pain would postpone having
broken limb set, but we can scarcely con.
ceive of pms who when once the leg was
in the bandages. would of his own choice
break Il that he might admire a compound
fracture, The question Of bard or soft
money after the first day of January next
will no longer be the same question. In
deed aswe firmly believe. should no event.
nov wholly unforeseen. occur to prevent
by December 1879 the probable meeting
of the 18th Congress. most of the rank
and fiIeof the greenback party will hav.
seen the error Of their ways, will have re-
pented their course. and will return to the
political faith Of their earlier DAYS.