The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-29
Opposition to the Retirement OF
GreenbaokS.
UNCERTAIN POSITION OF The DEMOCRATS
Summary of Secretary Sherman's
Annual Report.
FROM OUR SPECIAL CORRESPONDENT.

SlLNEE-PLANS FOR MAh1N6 nGSoA'D
AND DOING NOTHING.
The Recommendations in the forthcoming Message
and the report of the Secretary OF the Treasury that
the coinage of silver be stopped and the greenoacks
be retired. either by funding them or by
paying them of and cancelling them. seem
likely to prove embarrassing to the repuoli-
cans In Congress Western republicans say
In private conversation that it will not do to COM
mt the party at this session to such policy, be-
cause the West and Northwest will not bear it.
What they wish is temporizng policy in regard to
the greenbacks, promising to withdraw them at
some convenient future time. declaring that they
ought withdrawn. but that the present is not
good time to call them in. That is to say. these
Western republicans elm favor OF Maine liquor
law. but opposed to enforcing it," And whatever
the administration may recommend the republicans
in Congress, or at least those from the West and
Northwest, will oppose any positive action upon
They will vote for any number Of resolutions de-
clarng that the greenbacks ought to be withdrawn
at some future date. but they will not vote for any
measure to bring about immediate action. Nor is it
probable that the administration will urge them
to do The Message and Treasury report will put
the party right the record" and that will be the
end Of the matter until after the Presidential election
WHERE THE TROUBLE LIES.
The main trouble in tho matter lies in the
fact that the Western and Northwestern States
the republican States. On these the party
depends for it's votes next year. and the
republican leaders arc very tender footed
when they to measures which. however.
necessary for the public good, likely to arouse
strong opposition in the States where the republican
strength now lies. There is report here to-day
which shows the real republican sentiment on the
greenback question. 1t is generally known that the
legal tender of Butler Chittenden. which in
wolves the question whether legal tender notes
be constitutionally issued in time of peace
is to come before the Supreme Court for
final adjudication. If it is to await its turn. it will
come up before the court about May 1881. but it
may be called preferred or privileged case on
the calendar almost at once. Well, the story goes
that the counsel in the thought it useful to
consult the Attorney General the advsability and
convenience to him of calling up the at once.
one of privilege. and that General Devens thought
it not advisable. on the general ground
that any decision by the Court might
cause public excitement and that such excitement
likely to injure the partys prospects next
The story is given you it circulates here among
politicians. and it is certain that it expresses the
sentiments and wishes of the greater number of ne
publicans. Eastern as well as Western men, though
not of ALL for few Eastern republicans say openly
that they do not expect any useful action
from their party from Congress. That the only
way to get the legal tender notes out Of the way
by the help of the Supreme Court and that the
should be brought up al once. because the longer
continuance of the legal tender circulation exposes
the country to very grave dangers.
SILVER QUESTION.
As to the silver question the Western republicans
decided. They not only oppose tho
Presidents suggestion that the coinage of
silver be stopped, but they are developing
plan to force the silver dollars into circulation. It
is proposed to force tho national banks to take
silver and silver certificates deposit. By this
means is sad the coinage be continued ut the
present rate Of $4,000 goo per month for couple of
years longer without serious public oppo sition.
eff we make the banks rescind their
resolution to reject silver and oblige
them to take 1t deposit equal
terms with gold and greenbacks the country
will carry s10oOooooo of silver without grumblng"
said Western republican to-day. This is, of
course. only another device to tide the Presi-
dental election but the chief hope of the shrewder
republican leaders lies in their belief that the
democratic extremists will open the session
with demands for more grconbacks and
for the unlimited coinage of silver. II
the republicans spend the session in
opposing and debating such extreme propositions
they feel that they will be excused by the country
for doing nothing positive. and will be able to go
into the Presidential next year pointing to
unexceptionable record o. promises ana state
ments of principle. and yet with nothing accom-
plished which hurt the feelings of greenbacker
silver man in the West.
ATTITUDE THE DEMOCRATS.
It is very doubtful whether the present leaders
of the democratic party in Congress have wit
enough to see that repetition Of last sessions
currency nonsense will only help the republic
out of what seems to be very EN- EMBARRASSING
situation. The Southwestern democrats very
generally demand tho unlimited coinage Of silver
and Western democrats of the Voorhees, stripe not
only support them in this. but just now inclined
to demand more groenbacks. II these Western and
southwestern men retain the leadership, which,
under Senator Thurman and Speaker Randall,
they obtained at the last session, tho ropub-
Leans will have an easy time Of 1t. They
will assume the role of conservatives make desper-
ate show of fight against imitation and unlimited sill
vcr and will claim the gratitude Of tho country for
saving 1t by strenuous exertons from great calam-
tiles Meantime they will be able to bring the ses-
sion to close without any remedial currency meas
ures, and will appeal to the country next fall
with brand new set OF promises There are
. few democrats. Of course. who will SEQ this and
who would like to use the present opportunity to
drag their party out of the slough Of soft money
and appreciated silver There private talk here Of
Q conference of democratic sound money men as
soon as the session opens. with o view to agreeing
policy demanding the immediate re-
trement, by refunding otherwise. Of the
ereenbscks, and the stoppage OF silver coinage at
the minis. The democrats who urge this tho true
policy for their party count among them some of
the most eminent and respected Senators and Repre-
sentatives.
COURSE OF SOUND MONEY DEMocRAra
Their difficulty Is, at least has always
been heretofore. that they spend their strength
In talk and lack the energy and cour-
age to seize the leadership and carry
their policy. The Western and Southwestern in
fstionists and silver men push ahead with quiet
contempt for ouch men as Bayard, Herman
Randolph, Lamar. Butler, Hampton and others