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President Grant Has Vetoed The

President Grant Has Vetoed The image
Parent Issue
Day
24
Month
April
Year
1874
Copyright
Public Domain
OCR Text

Senate inflation bilí, by oourtesy called the Senate finance bill. His message was sent in on Wednesday, and croated no little surprise, being unexpected by both the inrlationists and anti-inflationists in and out of Congress. He regards tho principie ot' the bilí as a total disregard of correct financial principies, as a violation of the oft-ropeatod pledges of Congress, and as a repudiation of one of the main planks in tho party platform. He expresaos a disboliof " in any artificial method of making paper money equal to coin, whon coin is not owned or held ready to redeem the promises to pay, for paper money is nothing more than promises to pay, and is valuable exactly in proportion to the amou n of coin that it can be converted into.' Sound as a nut. He advises an increase of the revenue, a provisión for the re demption of gireenbacks in coin, to be followed by free banking on a coin re demption basis. Also sound. The greenbaclo must be redeemed anc retired at an early day - -as early a day a is practicable or possible, and gold anc silver recognized as the money of the na tion, as it is the only money of tlie world Then with free banking, a circulation so cured and redeemable not in irredeemable but coin, Congress neet not fix the circnlation - as it cannot witl safety - but ínay leave that to be regula ted by the inevitable laws. of demand - the laws of trade. We congratúlate both the country an( the President on this veto. It is the ra; of light that presagos the coming dawn Michigan ought to be happy. A resolution lias been passed by the Legislatura that in view of the largo balance in the State treasury, n tax gliall be levied this year. - Itearth an Home. Perhaps it is useless for Truth to pu his boots on and attempt to run down that li - little mistake made by th Ilearth and Home and numerous other co temporarios, including the Bay Git; Chronidc, the editor of which- havin; been a member of the State Sonate Lieu tenant-Governor, Judge, Hnd had as pirations for CongreRsional honors - ought to be intelligent concerning Mich igan affaire. Tho Legislature has passet no such resolution and the State tax - notwithstanding that " large balanc in the State treasury," 11,316,009.85 on the 15th inst. - will be just as large nex year as last. The State Treasurer wil continue, as heretofore, to loan it to pe banks at 4 per cent. interest, and wil also, no doubt, snub the Legislature if i shall presume to ask him what securitie tho banks have given him or the State It niay be wise legislation to compe the people to disgorge so liberally in order that large balances may b kept on hand for the use of Treas ury fiivorites, or even to piece ou niggardly salaries ; legislation onl; equaled by that other wise legislation which " devised the great safeguard " o the treasury, $150,000 bail as protection against dishonesty and peculation, wit' million of dollar balances as a tempta tion and test. The Board last year stood 14 Republicau an 11 Democratie, yet the Arqus from the election up to the day the Supervisors met claimed th Board to be Democratie, 30 we should not fiat much fault with him (who ?) this year when h only claims one Kepubhcan Supervisor to be Domocrat. - Cotirier. Our down street cotemporary shoulc not make such an unnecessary show o economy in husbanding the truth, bu should dispense a little of its surplu stock oocasionally. Let us test its state ment by facts : The election last yea was held April 7 ; the Argus of the llth gave the names of all the Supervisor elected except one, and said as to the po litical status of the Board, " a tie witl Augusta to hear from," elassifying, it i true, Mr. Wïkkïïp, of Salem, as a Dem ocrat, on the best of assurance that h would in the future act with the Demo crats. The Argus next came out Apri 18th, in which the following editoria paragraph appeared : Auqttsta elected John D. Olcott, Hepublican Supervisor, which makes the new Board stan 13 Republican and 12 Democrats. Last year Republican, 14; Democrats, 11. This the 18th of April and the Super visors did not meet until the second Mon day in October. Comment would be superfluous. And now it is Baid that unusual political signifieance attaches to the appointment of Charles O. Clark to be Postmaster of this city : that íb, that Waldron is not a candidato for another Congressional term ; that he is looking for a bid to " come up higher ;-' and that the influence of the postoffice (or of Mr. Beal, Clark's backer) is promised - in consideration of this appointment - to the Hon. S. M. Cutcheon, of Ypsilanti, who imagines that he has a cali to aid at Washington in making the laws for the country. AU this may and niay not be. We shall be able to express a more dofinite opinión later in the season, not doubting, however (if we may judge by past successes), that our Courier cotemporary will be able to " deliver " in accordance with the terms of any contract. - Anothei rumor has it that the antiBeal wing of the party has sworn vengeance against Zack Ciiandler : for permitting such haste to be made in the confirmation of Clark, or perhaps his nomition. Well, opposition to Zack is laudable and ought to be encouraged, whatevor the motive. Too bad ! that announcement by ScilUYLEn Colfax that it is " his intention to remain in private life." The recent 8wearing at random done by Secretery Richardson, Assistant Sawyer and Solicitor Banfield, has done much to withdraw attention from the feats of Colfax in that direction, aDd he would certainly feel at home aniong Washington officials if he could only be induced to take a seat in Congress again. A Jokf. on Our War Senator- A late Washington story is that Mrs. Speaker Blaine had a difficulty with Mrs. Senator Sprague about a cosk. Meeting at a dimitir table with only Hon. Zuch. Dhandler between thom, Mrs. Sprague leaned forward and said : ' I am sorry, Mrs. Blaine, that wo have anything disagreoablo between us." The Hon. Zach. was considerably embarassed, never having heard the interesting story of the oook.

Article

Subjects
Old News
Michigan Argus