Year: 1875

The message of President Grant contains
recommendations in regard to five questions
which he deems il important to legislate
upon and settle at this session of Congress.
Though his position upon these questions is
in the main the position of the Republican
party, the recommendations are not partisan
in their nature, and are submitted to Con-
gress, one branch of which is under the con-
troll of the Opposition. Opinions will differ
as to the relative Importance of the meas
ures advised. 1t will, however, be generally
conceded that the last overshadows the rest
in the attention of the country. 1t is this
"Enact such laws as vii ensure a speedy re-
turn to sound currency, such as will COM
mand the respect of the world.'


The President does not confne himself to
general recommendations, but suggests, as it
was predicted in these columns he would,
practical measures leading up to resumption.
The plan he brings forward, and the argu.
ments he adduces in support of it are en-
larged upon and reinforced in the report ol
his subaltern, the Secretary Of the Treasury.
The measures proposed are briefly these: A
repeal of so much of the legal tender act
as makes the treasury notes receivable fol
debts contracted after date to be fixed in
the act itself; redemption of two million
dollars monthly Of legal tenders, issuing in
their stead longtime, low-interest-bearine
bonds; the accumulation of gold for fina
redemption by increasing the revenue and
curtailing the expenses.


These measures are eminently practical
and are calculated to commend themselves al
once to all who believe that a.return to 6
sound currency is necessary to the revival O
prosperity. They are in no sense partisan
measures, and there is no apparent reason
why they should not be considered, acted
upon and adopted by Democratic House
no reason unless the Democracy is opposed
to resumption. Those Democrats who have
declaimed against the legal-tender act should
be satisfied with the amendment suggested
they certainly cannot desire an amendment
retroactive in its nature. The funding scheme
is wiselysconsidered and, admirably adapted
to its purpose; too sudden contraction, which
some Democrats affect to fear, is provided
against, for the funding is not compulsory
and currency which could find profitable EN-
ployment elsewhere would not be presented
for redemption $50 only the excess OF notes
above the needs OF business would seek con.
version.


There is absolutely no excuse for hard
money Democrats to disregard this plan
They have complained that the resumption
act was indefinite, that it made no provision
for the accomplishment of its professei
object. They now have the opportunity tt
make the act of practical effect by grating
upon it the recommendations of the Presi
dent and his Secretary. The business inter
ests of the country and the national honol
demand that action be taken at once. DELAY
is needless and dangerous. The President ha:
proposed plan for resumption, and it rest.
with Congress to reject it or to carry it out
The responsibility is now with them-mort
with the House than with the Senate, for tt
the former body belongs the provision of thu
ways and means, the increase of revenue
and diminution of expenditures, through
the committee selected for that purpose. The
matter should not be looked at in partisan
light. If hard-money Democrats find thu
majority of their party in the House opposed
to resumption it will become their duty tc
strike hands with the Republicans and to car
ry the project through. The country de
mands this of them, and will accept no eva
sion.