The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-05
WASHIN GT0N.
Effect Of Mr.. Bayard's Legal
. Tender Resolution.
A RUMPUS AMONG THE POLITICIANS.
Views of Prominent Statesmen on
the Measure.
OPPORTUNITY OF THE SOUTH.
Mr.. Belmont on the Effect of Silver
on Our Credit
LETTERS TO SECRETARY SHERMAN.
FROM OUR SPECIAL CORRESPONDENT.
OPPORTUNITY OF THE SOUTH.
Mr.. Belmont on the Effect of Silver
on Our Credit.
LETTERS TO SECRETARY SHERMAN.
FROM OUR SPECIAL CORRESPONDENT.

WASHINGTON. Dec. 4. 1879.
Mr. BAyARD's RESOLUTION REPEATING THE
LEGAL TENDER CLAUSE AND HOW IT Is Re-
cE1vED.
Mr. Bayard's resolution for the repeal of the legal
tender clause has created what may be fairly called
.'rumpus" in both parties, but particularly among
the democratic politicians. The Western republi-
exasperated, but they their way out.
They ready to push tho legal tender test
of Butler against Chittenden before the Supreme
they get the court to decide that 1t Is
not constitutional to make paper money legal ten
ders in time Of peace they their people will &C
cept that and say more about it. But they are
angry with Bayard for attempting to bring the
question to vote in Congress. Meantime. 1t
must DO remembered that only few days
ago. and before Mr.. Bayard had introduced
his resolution. the Western republicans thought the
Supreme Court ought not to act the test un-
til it should come up in regular order which would
be about May. 1881. AS to the democrats. they
threaten to make stubborn fight against the reso-
luton. As high in the councils Of the
party said to-day
"Not that believe the constitution authorizes
Congress to make paper money legal tender. Not
Mt ALL never believed that. But don't mean to
help Tom Bayard to the Presidency"
There is good deal Of that kind of spirit among
rather the country cursed with legal tender
paper for years to come than to support measure
which they know to be right. but the success Of
which they fear may give Mr.. Bayard greater prom-
nence than they desire. Southern man said to-
day.
1--WE Of the South ought to support Bayard's reso-
luton. because it is means by which we Sc
cure what We have greatly lacked-the confidence of
the North do not believe that the North hates
Of the South. but.the North is apprehensive of
Intentions Northern men have come to believe that
we ready to initiate the currency way Of
swindlna Northern creditors; they fear to lend
us money because they say. some day will turn
in and water the currency If power in Congress-
ana pay Off what we in water. II Of the
South would now help to pass this resolution to
repeal the Legal Tender act we should show the
North that mean to be honest. and that. in fact
honest. But some OF people think It
would make Tom Bayard President. and they
mean to oppose 1t. For my part I don't
what good democrat Is made President.
but do care most for that which
will give confidence in the North Of our honest in
tentions. and don't believe democratic President
can be elected until tho suspicious Of the North
allayed by us Of tho SOUTH" l
That is sensible talk. How far it will prevail It IL
too carly to say Senator Garland. Of Arkansas.
sends to your correspondent the following
what he thinks the subject. It
will be that the good Senator from
Arkansas is little muddled about the question.
and strades the legal tender fence, but In clumsy
way. because he is not used to straddling. Mr..
Garland's opinion is in these Words
81 believe no authority exists for Congress to make
legal tender notes, but 1t has been done In the
last decision by tho Supreme Court Of the United
States it was held valid. This decision was in
IL Wallace. but not reported till II Wallace.
Under this decision legal tenders have
been issued and have entered largely
iiNp the business Of the people. Contracts have
been based upon it. and to interfere with them
would be harmful. think it error. q wrong
originally. in making them a legal tender. but
would leave them they are to work out their own
fate. For all future issues however, II any, would
prohibit the legal tender feature"
Certainly! "f so, why not and whom found
make note of it," as the immortal Bunsby said.
Senator Thurman said to friend to-day that he
wps opposed to Mr.. Bayard's resolution and 10 Mr.
Shcrman's recommendation, and strongly In
favor Of doing nothing. In this he agrees
with such eminent republicans MIR. Fort
of Illinois; Mr.. Price. of Iowa; Mr.. Carpen-
ter. of Wisconsin. and Mr.. Ingalls,. of Kansas
Az Mr. Thurman has agreed with pretty much
everybody at different times the currency ques.
tion he will not be distressed the company no is
now keeping. II the public anywhere wants the
legal tcnder clause repealed IL might we'll speak
out promptly. for the politicians Of both parties
here have made up their minds to crush every ut
tempt to do Il.