Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1880-02-02
FINANCIAL HERESIES In CON.
GRESS.

GRESSs
The defeat of Judge Buckner's bill.
and the slender success which other
financial propositions have met in the
House thus far, show that the Fall cleo
tions were not without effect. The
Greenback and the repudiating Demo-
cratic members came back to Congress,
as was natural, with loud threats that
they were going to do great things, but
their ardor was partly feigned, and has
gradually cooled as they have become
better acquainted with the effect of the
elections upon the minds of other mem
bers. They mean to do all the mischief
they can, no doubt. If it ever becomes
possible they will strive as earnestly as
as ever to defeat resumption, to break
the public credit by new issues of green
backs, and to make effective war upon
the National banking system. The
financial heresies which rule the minds
of the sincere but fanatical element are
as strong as ever. The rebel and repu-
dating spirit which moves another and
larger element is as ugly and vindictive
as ever. But there is no strong hope of
success in immediate effort.
So much the votes of honest and true
hearted men last Fall have accomplished
already. They have rendered the pres
ent success of any mischievous repudiat-
ing scheme so doubtful that even the
widest fanatics hesitate to stir. liz the
| House, the number of members who
dare to support soft-money measures has
diminished men who believed their
constituents demanded such measures
have been taught that those constituents
would condemn and punish them. Not
a few members, both Of the House and
of the Senate. who were willing enough
to 60 with what seemed to be the strong
er party, and who were among the loud
est in roaring at the last session, have
taken lesson from the triumph of Gar
field, and reflect that the fate of Thur
man may be their own. Behind all, too.
is the veto power. Men know that the
President would be disposed to stand
firm for the right, and they feel that
the elections have given incalculable en-
enlargement to him and to his Cabinet
in resisting every measure, even OF
doubtful soundness or fidelity to the
cause of public faith.
Is the struggle over then? By nc
means. 1t has only been deferred. Sc
long as the legal-tender quality remains
in the United States notes, so long there
will be constant desire to expend the
circulation, and thus to break the credi
of the Government. AS long as tn,
possibility of indefinite expansion re
, mains, which the legal-tender qualit,
gives, those who hate the National bank
ing system will feel that they can vel
afford to assail it, and if possible, t
wipe out its circulation. If, by direc
or indirect methods, they can swee
away the bank circulation, they ca
then demand new issue of legal-ten
= ders as necessary to the business of th
q country The Immediate noint of eHor
will be the Presidential election; fol
with sound and loyal man in the Ez
ecutive chair, veto would surely NEE
. any measure of dangerous character. an
. there is no probability that two-third
vote can be secured in both houses I
pass such measure over veto. Unit
!. the Fusion party can elect Presiden
: it must wait perforee. If it can ono
: carry that fortress of National honor, tn
;. White House, there would soon be foun
;. prophetic wisdom in Mr.. Watterson
warning to holders of bonds to maR
. terms ''before the devil is loose"
= 1t is not impossible, too, that a yea
y, of industrial misfortune may com
!, Crops may fail. Gigantic speculate
). may push prices SO far that sudden an
- general reverses may come. which, thong
"a temporary, might quickly change tt
public feeling with reference to resum
.r ton. For such an opportunity the en-
. mics of the public credit are waitin
- and if it should come they would
swift to renew their assaults. But
.. the condition of industry and busine
~ continues good, there is no prospect th
!; serious effort to do mischief will
= made until the obstacle at the Viii
~ House has been removed. In the mea
while the Democratic party will ia
II softly, and encourage no determined &
ba tack upon the public credit. But
IN real spirit and purpose will be shown
NJ its growing closeness of alliance wi
no the Greenback NEUTRALITY-SUSPICIOUS.
" PRESIDENTS AND POLITICS.
al BRATTLEBoRo, VI, Jan. %, 1880
bo To the Editor of the Monitor: