Year: 1879

SOUF EFFECTS or BE- tNPfjON'


Rcsumption has been accomplished. Men
who lead powerful parties, and men who clam
great wisdom, have insisted that 1t was lhlpos-
sible. But the thing is done. and there Is
every prospect that 1t will stay done. In con-
sequence, the politicians of both parties APP
near 10 be considerably disturbed. Already
there are two distinct parties called DEMO
cratic. And there Is manifested 1eehhS ny
some Republicans which, ii unchecked, might
cause some dissCnsiOn in the ranks OF 'fa'
Marty. The different shades of opinion on tins
subject deserve review.


|. The last ditch opponents OF resumption
led by General Ewing, can no longer muster
courage to demand the formal repeal OF the
Resumption Act. For they challenged the
whole world to take notice that the act was
q fraud and farce, and could never he exc
cutcd. Hence it becomes absolutely necessary
for them to cause failure OF resumption. 10
that end, they propose n new bill, the object
of which is TO deprive the SECRETARY OF the
Treasury of a large part of the power which
he possessed when they asserted tlat ne
was powerlcss. These men lack the
manhood to acknowledge that they din
not know what they were talking about
Their spite lives, though their reasons are
dead. "Time was that when the brains were
cont the man would die But the men VINO
resolved that the war was failure III looi
spent several years i'll desperate efforts TO
prove that Grant, and Sherman, ana sheridan
had accomplished nothing; and one OF inc
fayorite methods was to turn over apSolu'e
control of the Union to those who had 1alco
TO DESTROY it. The ATm-ln-arm Convention AT
PHILADELPHIA in 1866 was of piece with the
new bill to curtail the powers OF the treasury
in order to make resumption failure. There
was strong public contempt i'll 1876, and there
will be not less now.


II The Democrats who have been trying to
cheat somebody, pretending to be hald-mOney
men while voting with the repudlatorS' 1ecl
that their position needs vindIcatlon. Their
prcscnt aim is TO show that they were all the
time anxious for "a real resumption "a pay
mcnt and retirement Of the grcenbacks; and
to this end they joined III etolts to put the
Government INTO the hands OF s0it-moncy re-
pudiators. The ostrich Is q wise bird; when
he blinds his ewes, by sticking his head into
the sand he iauces that nobody can see ms
body. The so-callcd hard-money allies oi re-
pudiation may rest assured that the world sees
quite enough OF them, and comprchchds
perfectly well their shallow manGuyres'
1t was The Judgment of the Republican
party in 1915 that resumption with
out ,xtinguishment Of the grccnback
circulation was possible and most desirable.
In that opinion they are sustained 10y actual
results. But the Democrats who proiesStd to
want resumption, but only upon conditions
which they knew to be impossible, would
save themselves some shame and confusion OF
face if they would openly JOIN the rcpudla-
tors.


Ill. There are some Republicans who be-
came so committed to sOit-mOney theories be-
fore the last election that If Is questionable
whether their political existence as lndlNldu-
ais Is not dependent upon the defeat or idll-
ure of resumption. Every man must be his
own Judge OF the conditions upon when his
political existence depends. II man has no
other claim to represent the Republican party
and no other title 10 the support of Rcpubil-
cans hereafter, except his hostility to a meas
ue which has lifted the Republican party
from the mire OF defeat, perhaps he best
knows his own demcrits. But there are
broader, ADLER and more worthy men, who
have won the regard Of Republicans and OF
the people by years OF usefulness, to whom Il
will not seem necessary to coquctIc with lc-
p1diator.. or TO court the rabbe, III order to
gain political lie hereafter. Men of that
stamp VIII be setn frankly admitting that
they were mistaken about resumption, and
that the Republican party was in the right
And they will Say with sincerity that they are
very glad that the party did not miss its way
because they took the wrong road.


The tendency OF successful resumption is to
unite the Republican party, and TO force the
Democratic party to choose between lasting
division and utter defeat. Any Republican
member who is lot willing to hold this
vantage-ground for his party, hut seeks by
vote on speech TO embarrass or defeat rcsump-
ton. advertses the fact that, IN his own
opinion, he Is not worthy of the support of
true Republicans, and can hope for future
success only in the countenance of those who
rejoice when the public credit sinks.





THE OPENING or FOREIGN MARKETS.


,..or ord a halc AGO THE TpIRI-NF called