The New York correspondent of the Daily News, who is
usually right, announces (October MI) that President Cleve- land has come to a most important resolution. He has resolved to set the Senate, and possibly the law, aside alto- gether. That is to say, be will send a message to Congress announcing that his Government has suspended the Act requiring the purchase of silver. The reason for this high- handed proceeding is, that the Treasury receipts for the quarter are £4,200,000 below the estimate; and that, if the purchases continue, the deficit by the end of the year will be £10,000,000. It is said that the people will approve this action, and there may be a clause in the Sherman Act sufficiently doubtful to allow of protracted argument ; but the blow to the influence of the Senate will be a tremendous one. If the President can exercise a dispensing power when- ever the public safety requires it, the ultimate authority in the nation vests in him. The conflict, if it arises, will be watched with intense interest, all the more, perhaps, because it has arisen on a financial question which the people as a body do not profess to understand. It will test the strength of Federalism to the very utmost.
