New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-02-27
PrrrvDJNG AND PtRTISlNSBJP.

REFUNDING AND P1RTISANSHIP.
There ought to be no partisanship in regard
TO refunding the public debt. UnhapDily, the
course Of the party which has constantly re-
sisted full and honest payment of the debt has
given partisan aspect to the question. For
the Democratic party controls legislation, and
has thus far dealt with this matter in a purely
partisan spirit At the last regular session and
at the extra session. when the Democratic
party was engaged in counting the votes of
infatlonistS and rcpudiators everything was
done that a hostile majority in the House
could do to hamper and hinder The Admins
traton Wise recommendations were treated
with contempt. Repeated assaults upon the
public credit were made, as If for the purpose
of preventing a sale of the rounding bonds
All legislation to provide for a refunding Of
the ; and per cent bonds still 0utStand-
IN! was refused, as IT has been thus far at
the present session. although Congress has
been sitting nearly three months. But now,
through its committees and some leading mem
bers, the Democratic party seeks, either to
gain credit for itself 10y passing bill provid-
ing for an issue of bonds bearing very low
rate of interest, OF to defeat reminding at last,
if it should prove that the low rate author
lied should prevent the sale Of the new
bonds.
The position of the Republican party in the
matter is simple. 1t ought to be understood
by the whole county, as it asSuredly is under
stood by those whose business interests compel
them to watch financial legislation The Re-
publican party, having constantly insisted
upon a full and honest payment of the debt
now insists upon such measures for rciuudlnS
that the public credit shall not suffer- nor the
public creditors Ice wrongcd, when the ont
standing bond, mature or become lcdocmablc.
At the same time, the Republican party III
sists that these ends shall be attained at the
least possible cost TO the people, and with the
greatest possible advantage 10 business inter
csts of the country. Reminding, mt the best
attainabe terms. BE- without possibility of
failure, is the Republican demand. Let new
bonds be placed, Republicans say, at as low
rate as possible, hat make sure that new bonds
shall bc placed, so that the maturing debt
shall be met and the interest on thc bonds
presently 10 become rCdccmab,c shall be Ic-
duccd as far a. possible. On these points,
Republicans are agreed. There is difference
Of opinion among them %, to the rate of in
tcIc-t which probably VIII suffice To- insure
the success, of rciurdme, hut there =, uo dill
ference in desire Chat 10 -hlll succeed.
il would be wen ior Republicans in Con
crtos to make tlcT meaning on thl7 point
exceedingly clear. Ihen II "lll be seen th't
while some Democrats hone tly dc-ir, the ~
cess OF rcfuuding, tur differ as to methods,
others want rcluudius to fail altogether. -o COS
10 force payment OF the Ooud' Ih E.''A'''h''
or Reputation outright Inns oIA 'F.h'' III
the prevailing purpose oI iAr TWO parties VIII
" found to a'cc' th'r "c'i'n upon '''i' Dill
proposed Inc Democrats VINO are mos "'''-
Gus Ior ihi'"''on' anu 'i'"', ",'' ,,'
eager Iol III i''"'''"' "''
10 N"'c ''l " J" "'''' ', '''