The New York herald., 1879-12-13

keep the two metals in currency on equal
terms by forcing the Mint to buy and coin both.
II Congress acts upon the recommendation of ~
PRESIDENT aud suspends the forced coinage OF SIT
Yer YER the question OF the currency in the United
states will be far simped that its operation Will
tnenceforth become automatic and need no further
attention. Efforts will doubt be made by the
mine owners OF Nevada and California to prevent the
acceptance OF the Presidents advice and it is always
fair question what metal shall be the standard of
carefully paid to existing Contracts This is how
ever. SO difcult even when practicable. that vara
LIONS Should be made as rarely as possible and it
may De anticipated that Congress will adhere to the
gold standard. We have already intimated en- opin-
ION that the withdrawal of notes. rightly
insisted upon by Mr. Hayes out OF respect to the
provisions of the constitution would 90 far to re-
isve tho immediate pressure of the silver difficulty.
THE FISHERIES QUESTION.
The Presidents Message does abound in rcfer.
ences that directly concern ourselves Dificulties
in respect Of exradion said to be in course OF
removal. II not already removed and the Statement
can be received with entire satisfaction. The dis.
pute touching the validity OF the local laws of the
fict with the sipuatons of the Treaty OF Washing
ton is not settled. but the discussions arising out
of it have been conducted in most friendly
spirit. and Mr.. Hayes Is content to await a
settlement. He looks forward also to permanent
SPECULATION of the privileges of fishing the coasts
of the Dominion. 1t may be remembered that the
Treaty of Washington provided for u concession of
lease way leave of the most singular character.
The Canadians doubt. tenacious of the rights
of dominion over their own coasts, but they must
feel the Inconvenience OF renewal every ten years
OF the concessions that have been made to the
United States fishermen and it is to be hoped that
it will be unnecessary to urge them to agree to
permanent settlement on equitable terms. This
fishing question appears to be the only one arising
of the foreign relations the United States that
presents any difficulty.
from the Standardl
The references in the Message to foreign affairs
are OF little Importance President Hayes audes in
temperate tone to the Canadian fisheries question.
The claims for damage account OF the Fortune
Bay afray under the consideration of the British
government, and the President expects early
ply. 1t need be said that this and every other
claim Of tho same kind will be dealt with. apart
from political considerations in accordance with the
plain demands of equity. The general question OF
American participation in the Canadian fisheries
must be regarded separately aud in the light OF
national expedency. We can frankly agree with
President Hayes that the Temporary adjustment"
of the Washington Treaty ought be- supplanted by
IAN early and permanent settlement OF the whole
question
From the Pail Mall Gazette
A wider question than that of the Fortune Bay
dispute remains. The American government paid
the Halifax award under protest. The rights they
obtained by the Washington Treaty are not, they
years OF the term after Which Withdrawn is possible
under the treaty have still run; but the Senate
has already called the government to press for it's
immediate abrogation. An American man-of-war
visited the in shore fisheries in July. and the
reports OF the experts who. were board
fully fortified" The Presidents Message only says
that the subject of American participation will be
brought under the notice OF the British government
"with view to an early and permanent settlement
OF the whole question, which was only temporarily
settled by the Treaty OF Washington" The treaty,
Is admitted all hands. left certain points which
have been fruitful of controversy unsettled But
the American government puts difficulties in the way
of conference by refusing admit Canadian repre-
sentatves. 1t wishes to deal "with principals only,
and regards the Dominion as only on the footing Of
one OF the States OF the Union.
From the Echo]
There are some facts specified in the report of Mr.
Sherman. Secretary of the United States Treasury,
worth passing thought by Englishmen Of the more
serious turn of mind In his fiscal statement for
the current year. ending in June next the receipts
are estimated at $685. OOO the expenditure ut
$264. 10000. This will leave S24 10000, nearly
900 sterlng for the reduction of the national
debt. The message by the President which will be
read to-day in Congress will recommend that
legal arrangements should be made to
fund into fours the hves and skies which
will arrive at maturity during the next two years.
This will effect saving of $l1 600 900 annual interest
which win also probably be applied to reducing the
national debt SO in the United States ut the present
time three things-namely. increased national
prosperity. gradual extinction of the national debt
and o rapidly increasing population. AT home.
under the auspices of tory government, VIC have
no reduction of debt worthy of the name. q vast
augmentation of the Indian debt greatly increased
taxation. In the face OF diminished national credit
II go at this rate q few years longer we shall
be too heavily handicapped in the national race with
the United States.