Year: 1874

The ways Of General GRANT, like thos


Of the "heathen Chinee," are peculiar


His remarks to the New York delegation


afcw days since, and especially his cur


structures on the Boston delegation, LEI


every person to expect his acquiescenc


In, II not his cordial approval Of tho Sen


stc currency bill. Tho little bit Of sar


casm in WHICH he INDUCED, as to wha


he might do or think II he lived in New


York, was supposed to denote almost un


mistakably that he expected TO Sign III,


bill. But the ways Of BIS Excellency ar,
not as the ways Of other men. Reticencl
and frmness arc his cardinal traits o
character. BE is not given to change
and least Of all 10 he given to retractlnG
his own words. Therefore, notwIth-
standing his bosom friends, MORTON, Lo
GAN, CAMERON and CARPENTER Of the
Senate, and BEN BUTLER in tho House,
were all in favor of the bill, and
were committed TO imitation, the Presi.
dent himself has taken the other tack,
and swung as sclear Of apparent sympathy
with their views as II they were in oppo-
sltion to his administration. He not only
refuses tosign the bill, but takes occasion
10 express himsell in favor Of the earliest
practicable return to specie payments, and
quotes from his own State papers, and the
acts OF Congress, TO show that the Repub.
ilcan party and the faith OF tho nation are
alike pledged to the earliest return TO spe.
Gle payments consistent with the interests
ofthe country.


What the effect OF this message. win be
on the country, especially on the West
and South, remains TO be seen. Tho frat
expression no doubt will be one of gen.
eral disappointment, to be succeeded per.
haps by sense Of relief on account OF the
termination ofa long and painful suspense.
Alter all, the really great desideratum
on the part of the whole country was
an assurance from Congress as to some
fixed financial policy, SO that business
men could adapt themselves to It and not
be 30 long in the dark as to "a standard
otvalues. II Congress, during the flnt
month OF its session, had passed a Joint
resolution affirming, in decided terms, lis
unwillingness to tamper with the cur.
rency to any extent whatever, and in
favor Of allowing the volume Of currency
to remain as II was then and Is now, the
country would have been in o better
shape at this late day Of the spring sea.
son than It actually is. The country has
waited patiently four months and half
to SEQ what was going to be done, only to
ind themselves just where they started.
This long season Of expensive delay will
be very unpopular, and will stir up no
little feeling, and no one need be disap-
pointed at It's effects in the fall elections.
For although 1t is true that tho Demo-
crats areas fully involved in the delay and,
morally, just as responsible as the Repub-
licans, yetthe one is in power and the other
isnot, and the party in power is always
held responsible for legislative blunders,
especially in times Of business depression
like the present.


While there will undoubtedly be no
little disappointment ielt and expressed
over this veto message, yet we feel that
the President has not only done what he
thought was the best for the country but
what actually was for the best. He has
chosen to avoid tho responsibility and
risks of adding to the present volume of
irredeemable paper money. The whole
responsibility for the consequences Of
new departure was lodged in his handq.
How could he help hesitating to assume
such o responsibility in view Of the warn
ing voice Of experience among other ma
tlonsD he said few days ago that he had
given the measure more thought than any
act OF Congress passed during his admin
tStraion. No doubt this is true, for the
act was one OF very grave Importance,
and the President could not be Indifferent
to the tremendous interests that were in
volved in his concurrence or dissent. We
therefore give him credit for pursuing
what he felt to be safe policy in declin-
ing to give his assent to the Senate bill.