Year: 1874

that could possibly be construed as indicative OF MS
action any bill which pass Congress and he pre-
sented to him for his signature. Some OF the reports
concerning him have originated IN the desire TO III
huence Congressional action bat thus far without the
least effect.


MAKE INITIATION A POLITICAL ISSUE.
DIR. LEONARD BACON TO THE HON. WILLIAM WALTER


PIIEIPs-MR. PHELrs's SPEECH THE BEST on FL


NANCE OF THE sEssIoE-A SUGGESTION THAT A


COUNCIL OF CoNGREsSMEN OPPOSED TO INILA-


lion BE CALLED AND STRICT POLICY FIXED


DEFEAT IN THE HOUSE TO BE FOLLOWED BY AN


APPEAL TO THE PEOPLE-BoTH PARTIES AFRAID


TO MAKE THE ISSUE.


Tie Hon. WILLIAM WALTER PHEIPs-Dtdr Sir: l
take the liberty of saying 10 You in tins open letter
that so far as have read the debates In the House
of Representatives YOU have made the best speech
of the session on the great question of the session.
the Currency question, Your distinction between
money and currency is one which everybody can see
and understand; and, though your exposition OF
how industry ia robbed of its legitimate reward
bv the grcenback fraud and deusloD, may
have been beyond the comprehension of the
ignorant and short-ighted politicians to whom
it was immediately addressed. it will be ap-
preciated sooner or later by the people. Sooner or
later bitter experience will make the people know
that dishOnOrcd promises to pay mOney-prOmlscs
issued with deliberate intention TO break them
arc not money but lies. SimpletOns in Congress as
well as esewhere-or If not simpetons. then knaves
are giving out that greenbacks will circulate as
money so lOug as the people have confidence In the
Governments but have those wiseacres inquired how
long the people can be expected to have confidence
in a Government which, instead Of redeeming its
promises and dealing honestly with citizens who
happen to have pecuniay claims against 1t, issues
fraudulent lies by the million. and Is always ready
to redeem one lie with anOtherf


do not write tins because you need any encourage
ment from me- but for the sake of suggestion which
have thought olmalingp privately to the Representa-
tive from my own district. Nj. kellogg, or to one of
the Senators from Connecticut, but whiChma well
be offered through you, to all whom il may concern
Nv suggestion is that those Members of Congress-
or perhaps those representatives who believe that
the Government Of tire United States ought TO re-
deem its dishonorCd notes at the earliest possible
day, be invited to meet, formally or informally
without distinction of party, for consultation on this
grave question of national honor and national pros
p6uty; and that, by a comparison of views and by
such mutual concessions as may he honestly made
bv patriotic men in such an exigency, they agree on
some definite measure as the first step toward max
ing every TreasurynOte equal in value to the face of
it-a measure which they will introduce into Con-
gress and will stand for and vote for in a compact
body and for which, if defeated, as probably they
will be IN ths Congress. they VIII appeal to the peo
pie


Everybody knowsthat this currency question is not
at all question between the Republican party and
the Democratic. Both parties are pledged, by their
latest platforms. to the policy on this subject
the policy of honestly paying the debt represented
by dishonored Treasury notes while iu Congress the
of mach fbe nj ledp DiV i'm
those platforms just as they regard the reenback
promises issued in the name of the naton-promises
that may be circulated among the people, but need
not be redeemed. Neither sparty daIcs to hold a
caucus for the purpose Of deciding what shall be
done on the most mome1tOus question that has
arisen il this country since the abolition of Slavery.
70 me the fact is proof that both parties are mori-
bund. As parties they dare not face the question
Of the hour In ,relation to that question they are
Just where the Wing party in relation to Slavery;
and the Whig party died because it dared not and
could not grapple with the question which over
shadewed all other questions 80 both these parties
may die when the question which they dare not
meet shall gTapple them.


Your own fidelity, therefore, 10 the Republican
party is not compromised by the earnestness and
force with which You have spoken on one side of the
currency question, while many of your associates
in the same party have spoken and voted on the
other side. They, III connection with certain Demo-
Gratis are majority; you, and certain other mem
bers--sOme Democrats and some Republeans-are a
minority. Who can deny to such minority the
right Of meeting and consulting in order TO agree on
that which, i'll their united Judgment is best
for them to take in this emergencyf Let me say to
that minority. Great national interests are depend-
ent on your standing compact aud firm minority
against the policy TO which majority in the Senate
and in the House of Representatives are so reck-
lessly committing themselves and the country; and
if you not mere partisans, TO whom their party is
more than their country-if you are free and pat.
riOtic men-you will not be afraid to do So come
what may to either or both of the existing parties


cannot think that there is any inpropriety in
my addressing you thus publicly. You are indeed
one of the representatives from New-Jersey chosen
20 that duty by the electors of certain district
But one Of the lessons which yOu learned at Yale
College under the teaching of nay honored friend
and classInate. President WoOlsey was that repre-
sentative IN Congress is much more than a mouth
piece attorney for the district Tor the party in
the district which elected him-more than the in
strqment of any popular impulse or caprice; and
that in the fear of God he is to consult not only the
interests of his immediate constituents-much less
the wishes merely Of those who voted for him-bnt
the large and lasting interests of his whole country
Therefore am confident that whatever may be the
course or the fate of the Republican party You will
stand by tlose principles which YOU have ~