The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-06
The President Stands by His Recon-
mendations

All advocates OF SOUND ana noneSt cur
rency will share our sense of relief at the
authentic contradiction, sent us from Wash
ington, of the reports disseminated through
out the country that the President had
retreated from the views he sent to Con-
gress, and had expressed q desire that
no legislation should be had In
pursuance of them. These statements
seemed incredible on their face; ana
yet they were made with such an
air of assurance, and were published ana
credited by so many republican journals
that we were staggered and dismayed' we
have forborne to comment on the alleged
stultitic cation with the severity which would
have been justified if the reports could
have been regarded as true. but we were
panied and puzzled that they were not
met and exploded by an authorized
contradiction. The contradiction has
come, and it vindicates our prudence
in Withholding any other comments
than expressions Of establishment and re-
greet. Had the conversations of the Presi-
dent with republican members of Congress
been correctly represented in the reports 1t
would have been difficult to reconcile our
sense of decorum toward the Chief Magis-
trate of the country with the strain of COM
ment which SO astounding recreancy to
declared principles would have called for
and justified.
We rejoice that those strange statements
are proved to be wild and baseless. Our
special correspondent at Washington has
authority Tor saying that they give an en-
tirey false impression, and that. so far
from retreating from his public position,
the President considers his recommends
tons about the legal tenders to be of the
greatest public Importance. Our CORE
spondent does not, like the senders of the
contradicted reports, rely on rumors caught
up in the lobbies of the Capitol and corridors
of the hotels. He supports his statements
by such authentic evidence as will silence
doubt and make denial ridiculous The
refutation of these astonishing rumors is
quite crushing. Coming in the shape of a
letter written on Thursday by the President
himself it is reponse sans replique, which
will give q quletus to the absurd stories.
The President says to his correspondent
'You want the money to be good. You can
only have this state of things when there is
confidence in the stability OF the currency.
If legal tender for debts depends on
the uncertain action of Congress there
will be want of confidence. The only
constitutional legal tender is gold and
silver. Depart from that and conf
dence is gone. All the world believes
that investments in America are likely to be
profitable. A sound financial policy will
bring US investments from all the CONNER
cial nations of the earth. In good times
prepare for hard times in good times pay
debts. The legal tender notes are debts.
Let them be paid by the coin in the Treas
ury and the coin that is coming from
ton. Let our ship be headed in the right
direction. It is sound policy which has
brought good times; the same policy will
continue good times"
This is more emphatic, pungent, pointed
and admirable than even the best passages
of the Message, which were greeted with
such warm encomiums by all the sound
party. 1t makes us regret that we have felt
moments misgiving as to the steadfast
adherence of the President to his official
declarations.
The injustice which those absurd state
ments did to the President now seems to be
as monstrous as his recreancy TO principle
would have been if his reported CONVERSE
tions with members of Congress had not
been misrepresented. What supposable or
indispensable thing could have been more
preposterous than an allegation that the re-
sponsible head of the government had re-
tracted in private conversations the official
declaration of his annual Message The JUS
tifable presumption was that the views
which he communicated to Congress ON the
most important topic of the Message had been
deliberately weighed and Would not be
departed from-at least not within three
days after the reading of the Message to the
two houses. If the opinions expressed in
phasis were premature or ill-timed, what
excuse could the President have had for
their PRONUNCIATION? The proper business
Of the ann ual Message is to suggest subjects
of legislation for the session, not to fire off
aimless shots in the air. The President
would not have appeared to advantage
in privately assuring members of Congress
that he did not mean what he had
said and asking them to accept his personal
retraction of his official statements. BY SO
strange a course he would have forfeited
all those solid titles 10 respect which have
of settled convictions and unfinching po-
litical courage. He could thousand times
better afford to have his recommendations
disregarded by Congress than to give occa-
sion for doubts as to his sincerity in making
them. The decisive letter which we pub