Year: 1878

The old year sank 10 its rest with the
fragrance OF volets perluming the air and
the singing OF birds in the trees, but the
New Year comes in with a snap in the
atmosphere which speaks OF snow and
frost to come before the reign ot Winter
is over Hail, 1873 Welcome, the New
Year! Happy New Year TO all How
much the universal sautaion this morn
ing speaks of human nature and human
destiny. The past is dead except as II
memory the future is the field of opportu-
nifty, OF hope and anticipated happiness, OF
redemption from past failures and success
ia new enterprises, of reformation and "A
better life. We put the old year behind
US with little ceremony. but we advance
with smiles to meet and propitiate the
New Year that it may be Kind to us in IFS
dispensation of good and evil.


The subjects OF a national and materi-
al character upon which the people OF this
country look with greatest interest, in re-
gard to the developments which may at
tend them, are the financial question and
the attitude which the administration Of
President Hayes will take in relation to
parties. Daring the past year the gov
ernment has been making progress toward
better condition OF things financially.
The public debt has been handsomely re-
duced, also the burden OF interest to hold
.f IF
greatest danger and responsibility has
been safely passed. II we can only hold
on as we have been going we shall be-
come complete masters of the situation.
The reins are fully in the hands of the
government now and all the indications are
that if it is permitted to control and will
control as wisely in the future as in the
past there will be satisfactory, safe ex-
tinguishment of the national debt in good
time, with the public honor thoroughly
maintained and the public prosperity es-
the efforts of repudiators. from those who
would let loose upon the country in great
er volume a debased currency, paper or
silver, to unseltle business and credits.
alarm capitalists, discourage honest enter
prise, and set in motion another flood OF
speculation with the disasters and demor-
alization always attending such baneful
departure from the stable and honest ways
of finance and business. VIII the silver
bill which as it now stands proposes to
make. 92 cents in silver equal to 100 cents
StatesP That is serious question, which
will have its solution in this New Year,
and that very soon after Congress reas-
sembles. 1t is very serious fact also in
connection with this swindng bill that the
South stands almost as solid in support OF
il as it stands for the democratic party
This means that the South cares little for
the credit OF the government which
crushed the rebellion, and would repud-
ate the debt contracted to whip the South
is it could.


Whether President Hayes will fall into
line with the party which elected him or
continue under the ma!ign influence of
Southern leaders like Gordon is question
of deep importance to be settled this year.
The position of the President ia regard to
parties is anomalous. IL cannot be main
tanned. He must cling to one party or the
other. lie cannot stand between the two
1t is with sincere regret that republicans
view the situation in which he is placed,
but whatever betides. on Whatsoever side
destiny may place him, the republican
party will march straightforward where
duty and principle lead-with the Presi-
dent If he will march with these whose
votes elected him, without him if he aban-
dons them.


The fate Of the Ottoman Empire is the
great question which agitates Europe. Is
peace at hand through the intervention of
England, or win the war go on without in
tervention until the Car plants his con
quering standard in Constaniinope Re
ports from England indicate that she is
preparing 10 take steps TO bring about an
end to the bloody contest In doing this
the chances are that che will not succeed
in making peace, but as a result may be-
come the ally Of the Turks IN resisting the
Russians, and upon this other powers step
in and general European war follow,
such as it has been loreseen from the be-
ginning of hostilies might occur. As
the New Year greetings are uttered in
England to-day, the thought uppermost
in the mind Of every statesman Is. what
will be the solution Of the Eastern ques-