Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-12-14
1r. stevsns' Gold 8sn-Quaekery IN
IIufnce.

tinrnce.
Mr. SrrvKSs member Of Congress from
Pennsylvania and Republican leader Of TIE
House. Immediately on she assembling of that
body, offered Dill, the object OF which Was ID
brief terms. bv IegsIatioo make note or bin
issued by The United States. and made lawful
money aud legal tender. equal TO the value !, |
represents. in gold or silver In ether words, by
ia~. by ssimple legislation directed TO make
paper dollar equal TO gold dollar Wequotet~o
sessions oflhe bill TO show TIA. such intention
OF parpose ~ss really entertained by the Repub 1
Ile.u hslrman OF the Committee OF Ways aud /
Nesns Of RspsDlicsa Congress:
Sac 2. And be IL further enacted. That dol |
lar note fssped by the Governments OF the United I
States aud declared To De lawful money and = |
legal tender 10 declared 10 be ct equal value for
ali purposes a. The gold and silver coin of like !
denomination: and every multiple or fraction OF |
legal tender dollar shall be OF equal value with /
hke muldplss or fr.cuo1s Of coin Tor all parpo- /
pose- whatsoever
SIC 3 And be- Il further enacted. That when a
contract has been or shall be made pa able in coin
bullion. or other commodity. Il shall be deemed !
and adiudged % be payable IN auy note. or bills !
of the United States which Congress has or shall
declare 10 DC lawful money and legal tender. !
and nO difference IA rate or value shall be allow
Ell between coin aud legal tender money.
This proposition comes. be IL remembered.
from prominent Republican leader. and who J.
= recognized such by his party. The folly Of
che scheme IL not only illustrated by the signal
failure. u the governments which have attempt
sd il. but it should be self evident to the merest
novice in finance or business II would be jus
as easy to make water run Up hill by its own
voiition. as 20 change the laws of trade by egis
iative enactments Even the New \ ork Tri
bune. which /. disposed to favor all the financial
.exped'ents Of the administration. well ss-its
policy generally can see the difference ia what
it terms 'favorite loyalty" and the stern acts Of
commerce We copy some Of the COM
tneuts Of that print upon SIR STTyEss'
gold bill - they demonstrate most conclusiyely.
and from Republican source too. ia utter ina
,ili,y. and We may add ia,uty Says the Tri-
.bune:
Congress has power to coin money So had
the kings Who ia all ages had been driven by ne
ce-sity deba-e the coinage of their realms.
James III al England. when reignng over Ire
land oniy. issued bras- guiueas. which were IN
efect) promises 20 paw whenever he should be
able The idea .as that these would be replaced
by golden guiness whenever the king should
come TO his osn again They had thus value
ptopoffi,bed 20 bis chance or prospect Ot recOv
eriug he lost kingdoms. Fanatic loyalty might
insI-t that they we're a. good as any guineas bul
Commerce couldn't see il lie who should have
asked the Rothschilds and Hopes of that day to
receive them AZ their nominal value would have
met With reiusai- more less courteous. bun
alike decided
Congress might deesfc eyerg paving stone OF
brickbst doilsr and thus enable the indebted 20
discharge rapidly snd easllriholr several OblIga'
lions For a time under the influence Of such
legislation. paving stones aud brokbais would
maintain a certain currency value, aside from and
above that based ou their intrinsic qualities. But
set Congress proceed 10 enaci that paving
stone or a brckbat should be the legal aud az
tu,l equivalent OF an ounce OF silver or penny
weight OF gold, aud undertake 20 prohibit ahd
punish all exchanges or purchases which should
contravenc this equation. and It would throw all
trade into confas'on and anarchy without achiev
ing any counterbaancing good The laws OF the
universe utterly refuse To be subOrdnated TO vhe
acts OF Congress. product which has cost a
thossand dsyr' labor will 20. be exchanged Tor
or held of equal value With something that may
be picked UP IN two hours by the side OF almost
any country road Legislation may impair the
value OF gold. by Obstructng lis exchange for
other products or values: IL cannot make n cart
load Of paving stones the actual, enduring EQUIV
alent OF cart load ~ wheat or Of wool IN any
region where paving stones are sgpersbundant
Are ne potterlng over the II Cs OF hnancef
Certainly: but ho~ avoid It when our statesmen
and husnciI authorities have not yet mastered
even th.-ef With great respect Tor the abilities
of Nr stevens. say that an act of Congress
declaring paper dollar equivalent TO gold
dollar u q transparent aud miseheyous absurd
nv IL nav be -uch equivalent: VI At n, II
needs no statute 10 bolster u, hut vii take am
L. III u.
able IN coin ~ any bank counter or brokers of
fee Is dollar practically aud beuIhcenty Any
paper dollar - worth more or less according to
the fscItles and readiness ~herewith il may be
converted and tue cash value of that into which
i; u convertible Any legislation which declares
nothing te be something or iOrbids water TO run
down hill may De potent Tor incidental mischief
but can never achieve it, declared end
Let IA consider the OF miner Who has
spent the wear 1851 prospecting and delviug
among the glens of the Rocky Mountains. and
has thereby Accumulated twenty pounds Troy OF
virgin gold. equal To some four thousand dollars
in coin. Nv what right, 20 what purpose. shall
Congress forbid his exchanging this proouc, of
hls labor for so many greenbacks. or their equiv
slent in land or teod and clothing. implements
and farm stock. as these greenbacks will buy IN
open market I The right of the government to
take fitch. tenth. fifth. or even half Of
this gold ground rent. OF to deray the cost of
question. We freely concede that the govern
ment NAV take all il can fairly claim as ia due
but TO the rest. whv has the miner a clear
right 10 sel il tor the most IL will command :
WIN constrain him by law To exchange IL a. par
for that shich - no far equivalent Ia short.
why try 10 repeal he las OF grsvIi,tion by Al
act % Congress We are sure no good. but
much evil. ho~ from such empirical legi--
iatlon.
The fac, j.. Aessrs rulers of our land our
currency must re appreciated and stren thened.
not diluted aud experimental On To IT. i'm
prOyemeut three things indispeust able
Taxation; : Victory, Peace Oaly through
these-one or more. II not ali OF them-caa The
<orely n-eiei amendment come Away. theu
with all quackeries AMI JoggleFss. and face
yOar responsibilities like men' On YOU MessrS
C'ngrcssmoa. rests the duty OF taxation. let eur
generals ani atmirsls 90 trusted for victory .
~hie the Executive dues his utmost to secure
- soen "a may be. the rusretk be blessings 81
true. honorable. lasting peace,
The illustrations and argument. OF the rri
Dune sgAin-, Mr.. SrxvxSs' financial schemes
ean be summed up in few words: 1t IL inpo..
sible give value To that which has no valve
by arbitrary enactment, All such efforts have