Year: 1879

The Legal Tender Act-The Expedisncy


OF it's Repeal-Other Questions that First


Command Consideration-Mr.B Bayard's


Dilemma-Alleged Bribery in the Reve-


nue. Service.


NEW YORK, Dec. Is, 1879.


A list of very strong names has been secured
to petition praying Congress to eliminate the
legal tender quality from the treasury notes
The gentlemen who have signifed this wish
are potential from the financial point Of view,
and their opinions on the currency question
are of the most pronounced character. The
ideas they represent are entertained by an
overwhelming majority of the people in this
latitude, and it would be great benefit to the
country if they could be carried into practical
effect. And yet it is extremely doubtful
whether it is a wise policy to precipitate the
discussion of this important matter. In the
first place it is an indisputable fact that unless
large number of the members Of both houses
can be miraculously converted, majority vote
cannot possibly be obtained in either in favor
of the proposition. The Western sentiment OF
regard for and faith in the greenback is so
firmly fixed in the popular heart that it will
not be easily shaken. 1t prevails extensively
among the Republicans of that section. They
look upon these paper promises as emblems Of
the national sovereignty. They remember the
important part they played in the stupendous
work of suppressing the rebellion. They have
an attachment for them, which makes them
impatient when any suggestion is offered the
effect of which may be to hasten their with
drawal from circulation. 1t will be difficult to
persuade them to deal with the subject in the
light of the hard, practical tenets of political
economy. 1t will be necessary to give them
time to get their instruction from experience.
They will discover after while what is really
the best thing to be done, and when they have
attained to that degree of knowledge the obsta-
cles in the way of the accomplishment of tho
final act of re-establishment will have been
completely and happily surmounted.


On the contrary if the topic is prematurely
agitated no good result can be hoped for, and
other interests may be seriously jeopardized.
We are very near the opening of Presidential
campaign. 1t is idle to expect any wise legis-
sion of the capitol are cleaned out We had q
lation till the Rebel brigadiers who hold posses
taste of their quality at the extra session. Their
conduct has passed under review in the forum
of public opinion. The people have shown by
their votes that they want first Of all to be re-
lieved of such an odious and dangerous despo-
tism. They don't mean to be turned aside
from their purpose of rescuing the State from
the domination OF ex-confederates When
they have finished that task they will feel in
better mood for tackling the financial problem,
and then will be the time to make it the lead
ing issue before the country. Everything in
its order 1t seems like mistake to talk
about anything else, until we have settled the
account with the revolutionists who threatened
to stop the supplies and suspend the operations
of the Government if the Executive would not
succumb to their dictation.


1t is very easy to understand why the DEM
ocrats should be desrous Of change of venue.
1t is all very we'll for Mr.. Bayard to lead the
way to a new theme. He and his party asso-
ciates are in dilemma. They are looking on
ly for some method of extrication. If they
can succeed in drawing off public attention
from the performances of the extra session they
will have done very clever thing. Mr.. Bay
ard knows perfectly we'll that the Democrats
are mostly radically wrong on the currency
question; there are but few of them who will
vote for his resolution; there is not the slight
est probability that it can be passed in either
House; there is no practical efficacy, therefore,
in considering it; no present good can come of
it. But it will be gain to the Democrats II
by any means the public attention can be di-
verted from the peril involved in the surrender
of tine nation to the sway of Solid South, just
long enough to enable them to secure the few
Northern electoral votes they require to give
them the Presidency. And if they once get
that there will not only be an end of all hope
of improving the currency, but there is every
reason for apprehension that we should be
plunged into such an abyss of debt that in
stead of cancelling any of the present issues Of
money, large batch of fresh ones would be
put in circulation. What possible use is there
of appealing to this Congress any way for help7
We know before hand that they will not give
us any. Any measure they do adopt will be
sure to make matters worse instead of better
A man wouldn't be thought very sensible who
should refer question involving his personal
rights, to tribunal which he knew to be
against him. However certain be might be Of
tho business of his cause, he wouldn't take
such chance as that of losing his case. 1t
strikes me the arguments for adhering to
course of "masterly inactivity" are numerous
and potent 1 observe, moreover, that the
memoralsts who urge immediate action are
mostly of Democratic affiliations. 1t is gen.
orally good rule in politics not to do the thing
your AL versary wants you to. / certainly new
er would shrink from the espousal OF correct
theory from considerations OF expediency.
But on tho other hand l wouldn't on the eve
of great contest voluntarily surrender an ad-
vantageous position, at the instigation of the
enemy nor relinquish major issue on which
7 had every assurance of success, to adopt a
minor one on which 1 was absolutely certain
of failure.


A sad case of alleged bribery has just been
brought to light in the Federal revenue ser
vice. The inculpated party is man who has
hitherto borne good reputation, and has held
several places of honor. He was once men,
ber of the State Legislature and for many
years clerk of the Board of Education The ac-
cusation is that he accepted gilt of $500 from
an importer to whom he gave "points" that en-
abled him to get his goods through at 10 per
cent duty instead of 40 per cent. The offense