New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-02-18
Mr. UOOVS AfTACR.

Mr.. NOOVS l fIAt n
Mr.. Fernando Wood takes frequent occa-
sion to remind the country that a Democratic
House has placed in most dangerous hahds
the most important of all It's committees.
The career Of this man is known to their
soIrow by the people OF NcW- ork'
He gets and keeps place only ny
wandering to the worst prFlHdlceS
and passions of the lowest class OF
Democrats, in city where that class Is il
strong and rs bad H. il is anywhere. Before
the war and duung the war, the D'mocr"'ic
masses of This city were intensely dIsl"yai.
and Mr. Wood had no instinct OF patriotism
to restrain hun from representing tarm.
They have ever been dangerously t"n-
mnni~tic, ard Nh Woods recent boast
Of his abuse OF power Is MAJOR III
order to pqnder to this class served
70 show decent and proprrf-n"Hin@
citizens that the old instinct wa, IN linn hui
thiniy covered with the ycn'crlnE Of respect
ability. HIS new rand upon the public
credit viii excite no surprise among jlc adi-
stantial citiz rs OF New-lorh.
In brief the proposition i, T" stop ne adG'-
ton which the Government ba' ji'"-rd itSr'i
to make 70 the sinking fund each year, ana
to throw away t4c reserve ot coin upaA
which fine maintenance o. assumption lie
pcuds. Whatever Mi Wood NAV pretend, IA,
i moi 50 ignorant a. 20 suppose ,nat specie pay
n,eutS en-! he continued. aud she public cieuli
be maint incd without Pre- ewing that reserve.
There arc men in the iiouS"-poSSibiy there
are so-callcd RrWhliCan~-whoSc ignorance
goes to that length; but sir. " God has no such
excuse. lie knows perfectly wei that, II 1t Is
possible 10 defeat resumption NJ all, ana to
plunge the Government bach IHto the ui!c OF
disuonor and population, tac cxnau- ION o.
the coin reserve is The way to do 1t. iht stu
mdity of the ordinary tiat-mJncy mon, WAC
hoped to prevent resumption by bill
recurring the reissue OF the grc"nbacks,
Mr.. Wood does not share. lie sees
clearly that cash will surely accumulate
in the Treasury, and the public credit will
advance a. i.mg as the receipts, of the Gov
eminent exceed It's expenditures, and that
destruction OF the public credit and ultimate
repudation OF the promise 10 redeem
in com can be reached only Ly MAX
ing the expenditures exceed the receipts
IN this Undertaking, he ou.,At To have
the uncOmpIOHii,inG opposition OF every de-
fender of the public faith, whether Rcpupli-
can or Dehocrlt, AMI 1t is especially 10 TIC
interest of hard-money Democrats to defeat
him. because their parry j. responsible for the
power of this man for mischief.
Ii il not to be- supposed that any such meas
IRE will pass. If the Senate should fail, the
Presidents veto VIII doubtless io,opo,r. But
no Republican has any r-at to he drawn away
from fidelity TO the public ialth hy the plea
that funds are needed 10 ply arrears of Dcn-
,ions If il is desired to impose an additional
burden upon the people al TINS time, let a bill
be passed authorizing the sale OF bonds for that
nurpose. The Government can borrow the money
at per cent. and the Increased burdcn.
though in our Judgment an improper one to
assume, would not involve st0ppIer @! the
funding of per cents. By refuHding, TIA.
Government has saved 10 the people within
the past month alone over 50, 100000 yearly
and the issue of S7O,GOG,OOO OF new per
cents. if So large a sum were necessary, would
not involve rs great an annual charge. Bu
the exhaustion Of the coin reserve in the
Treasury would break the public credit, and
stop the rounding of the DEBT. II would
waste the peoples money instead OF saving
it, and impose IA large burden instead Of
small one. Every honest, patriotic and
loyal man, therefore, who believe, That the
arrears of pensions should be met Mt all at
this time, ought to be firm 30 resisting any
other mode OF providing the means than by
sale of bonds But every rcpudlatOr, every
enemy of the National faith and honor. will
favor the proposal of Mr.. Wood, for the very
reason that bankruptcy lies that way.
The Republican party made great gains a
tLc last election because 1t defended the pub
Inc faith. Mr.. Wood, with the suicidal folly
common to Democratic leaders, gives to The
Republicans a NV opportunity to deserve the
continued support and confidence OF all loyal
men and of all substantial citizens Upon
this issue, more than upon any other
Republicans should realize their duty to
their party, and allow no other con-
sidefatI0n or motive to sway them. The sub
jcct should be considered in caucus, If neccS-
sary. 80 thit the formal decision OF the Rrpuh-
Hcan representatives 10 resist this and every
other attack upon the puolc faith may
be made known a. an early day. If any
so-cAllcd Republican wishes 10 ally himself
with the Repudiator~, he ,honld Ice made to
understand that there is 40 place for him in
Republican councils
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ANOTHEE ROIAL JiCEEOT.