Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1874-04-24
THE DEATH BLOW TO INfL.A.
IvOE.

to Congress, has vetoed the Currency
bill. His action in so doing is 10 be
~applauded. and the message is one oi
the best documents Vet issued by the
Chief Magistrate during the time OF
his occupancy of the Presidential
chair. In thus doing. he has showed
his tirinneSs in standing up for the
rights and interests of the people in
the face OF a powerful organization OF
influential men,. The increase of cur
rency is the demand Of speculation
rMn mad. which has. during the past
ten years, brought on, periodically.
of values, a crash III financial. om
mercial and industrial circles. making
the poor poorer. and the rich richer.
Had the bill been enacted. and had it
become part Of the law Of ;he land.
certain disaster. lurking iuthe progress
ui events, would have inevitably fol-
10 expect: and from the far West L.
the great East. from the North to the
distant South, there a universal
cry, beseeching the President TO Veto
the obnoxious bill. lie has done So.
and the Inflationisrs OF both Houses
openly admit their disappointment is
to the result. The gallant speech OF
Nevada's Senator. J. Z. Jones. seems
10 have awakenelthe eoantrytoa >en>e
nf the impending peril. and the sum
ming up OF his exhaustive speech was
the doa.h-5low OF the hill. Mr.. Jones
said:
While there may be q variety o.
ways, there are but two general roads
between which to choose: the one
leading toward initiation. the other
toward contraction. The former APP
pears easy and inviting: the latter
steep and rugged. But i'll the end, 80
surely a< effect follows cat>t. cOE.rac-
ton VIII lead Ia safety. honor. pros
perity. happiness and life; while intla-
ton will surely lead 10 dishonor, mis-
ery and decay
Again and again the effort WIS nude
to place something in the bill which
looked towards specie resumption, bu;
the majority was joined 10 its idols.
and >neered at every pea for Justice
and honor. No stronger language
could be used; nothing more to the
point could he said than an article
published in the .Natioa of reeen, date.
In reference 10 the subject. and the
blindness and folly of the initiation. the
article referred To SAYS:
The principle on which this initiation
of the currency has been advocated i
one which renders lie limit ot $500. hou.-
100 lndeftnSiDle. Tina, is a mere arbi-
trary line drawn by Il necessities du-
rin- the war. There i, no good reason
why, on initiation theories, it should
he di>re-arlpd. fSl00.0 $1,000 Oftre-h
pal er Will ST mu,a e in iUstrv" and
give lis cheap money" a. Kelley
says, 500. O0a.pJ0 more viii have SINH
lar effects. and 80 on al utHnftpm.
Imitation i Il Sh0rele,> sea under a
>tarle>> sky, &c tha, If the lac action
i'll Congress DE alop,ed IL a policy. i
starts u on u Yoyase "i;hou: end.
our only salvation lies in getting
back 10 specie payments. aud if the
public will not take the recorded en-
perience 81 It Ter countries and genera
tlon> a> a guide III dealing with the
matter. but nus have experience of
Its own. the experiment Viii be ZEN
dered all the less costly aud democrat
ling by making it as quick As posi-
bic in its operation. Therefore. if we
are to initiate let Us have out al once all
the paper that the widest intiationi>t,
thinks would be good for u. The al
Tentative. III short. presented to u> j.
somewhat like that which sometimes
presents ~it>elfto an engine driver when
he G a COW on the track if he can
stop before striking her. we'll and good:
but II this be Impossible, the
next best thing i 10 put on
more steam and cut through her. In
the meantime. or pending this pro-
cess, individuals can help the country
out OF the difficulty hv conducting
their own affairs as far as possible Oh a
gold basis. ProIniSsorv notes and
nearly all contracts can, under the de-
Cl>lonS of the Supreme Court. be law
fully made payable in coin. ana il will
hereafter be prudent as We'll ~ patri-
otto 10 do 50. Steady adhesion to this
policy by large numbers would grad
ually push the greenbacks aside for all
purposes but the supply OF small
change, and would probably before
very long open the eyes Of the rogue>
and barbarianS in Washington. wl.O
are now making us the laughing stock
OF the civilized world, and di>credit-
ing our securities in foreign market.