, 1876-08-19

!lanidation In Enfprc md Amerlcs. and n'e silver
IN ths Emit 4. creditor Of tc WGstcrn atatea 1hn
t. .w to nr5.s s so n whsn y
aacd a. coin In i:nrnpe and America, It must 20,
thrnueh EnE'nn,l. to hain. .-.. -,
bcGan IN England innd was con!nct 10 her own ,er-
ttory and her Weatcrn, ttomfn!ons! In 1Kld. tn.
dncna no slvcr heraclf, shc found Nae for ali tho
md 9 s:ensfai Xmsf! f!ss !" her East indis tr.ie il
+ 're sseS ss a' to H.. III ,,sr Fin, En-
ind sutsttute gold, "a u.ensufs which Il II nut H-
likely haa md much to do With the financial dIs.
q wo e nucpes q E"sss III sb,t liz i now now
at w tx In thIs country to Tho rams end conceal
ing 4 .se9,s 70 me 'ns real g!st u tho aestlon' 'y
ho(1srs Of Government bonds.
medium II p.yment o u, s bonea sh,ene.s
has nothing TO do with tho qucation Of tho uso Of
silver AS genera! medium Of liquidation. II onr
mast do 10. even il silyer i monoy. s0' ~
Tho effect Of demonetlzfnR silver upon the value
Of that metal io! Its producers In tho two Americas
ts also secondary question, NJ # appears IT, tho
writer. The question of .gtosteat inpnrtancs sp.
pssrs to he whether tho circulating tntdium Of or
q 'ye9 %hIsh ss
y Enropa and America. and thrco.guaEtera Of 1t
u W lnclIdc the Orient. and ~ dou!ls the pns-
a tnas Il eSs esStott n Hnssa .nk s' %i
b tis ony sSun!,y benefited by 'uea
SENATOR s11EI,aIAN's VIEWS.
Mr.. Srnator Sherman, In 4 recent speech 10 hls
constituents, comes to the defense Of tic AmcrI.
can silvor dollar. lie explains Tint his concurrence
In honsrtioh At the tats session ss that Congtces
could act tnscl!iRontty next wintcr lie ntl-
mates TINT 3 majority In Congress faror the re.
coinage Of the silver dollar. lie takes no stock In
tho gold theory; ho clnlms TINT the silver dollar
was a lcgal.tenlcr, md that tho debtor had the
right to pay his dobts In nllyer, II he thought
proper. His romarkt arc full Of intero.t just At
tln ti,c. 1iero Ii whit he said On this subject;
- l do not now. fe'low.cit1xcns, enter fully upon
tho great qucstlon Of Tho restoration of tho old
1tsr doa, ~ ne MONEY sf sseSn s
subject The most careful considerations, and was
ts frat I" preposs the 5ecsTng q ths old silver
Ifian, hays no aoaSt: nit t@lers @ arc n so''.
aestSa El.h ths issa1 t, of ts dollar detail. about
ion-how rapidly It can b. coined; how far il sl,al
be- tG to WHICH M 4 ahall hc
O. II oa4 ~ H.
to dcmonetize gold and ita trus rotation 10 guild.
All these are questions wIac nun will consider
the two Houses tho Silver bill. an not nj lii'.
srty 70 ,tats what occurred except Is y shown by
In favor Of issuing The old dolarthe dollar In To-
gal oxistencs sings 17u2, contalng 412 10 grains,
I'D on'y domon9tlzod in ls7 %e" vas worth
port IA v. ri Il eltsa!at,Gn sill, itS.s
%sa eee and ~ ae xss ~ vii IL. " It'll S o. sss
debtor to ray II silver dollars S we'll IL gold Dol.
!at.; J. wa a.. lcsa1 opton: The rrlaliye ,nlne
the right remained To tho debtor 10 pay in either
dollar and thereforc, In tho cheaper dollar. Tho
more. dfause of tho cofnaKe Of thp silver dollar
tracts: And now, wien Ill our domestic contracta
have been based upon deptec!ated paper money,
s :1ssp eass: To- ~. al ss Ill., aa as e9a M
the pnhslc dcbs 1t would seem not only legal but
T,g6t II the bfoadest scnse uf the term, Tia. W
fall Of silver bullion to rccoin the old silver coins,
soipsl md Tlth 4 them pay oa5 dsprsciated no.es
decided majority q both Houses were In iayur Of
M shi. policy, bnt ~ execution u T. work Of time.
!. year; Wo therefore provided tor ali
tho sa;H. a;ivs, coin that BY Po'ssyhllty ean
st..es driven to their utmost capacity nutti lss aIy
1878. So far We agreed And wo could hnYa
agreed upon recolnfng the old silver dollar; but
now payable II gold. Or bo paid out for lnteseat
cluded. therefore, that ~ Il could not be coined
composed Of members Of both Houses anu or ex.
Pcgts In coinage md exchange, with view to col
lect and report tho fullest information po.shlc.
Thus The question Of tho old silver dollar Ia post
ponod until next winter. when 1t may bc decided
With all the lights thnt discussion inAy throw upon
Il. know that 1t can bo and Ought 10 bu made an
instrument Of resumption q welt a. vaat rccs to
all our industrial classcs. These questions will be
decded bJ tho Republican party as all the great
tho people. The Democratic party, as t,snnl, Will
denouncc what do, then hesitate then acqutcyco,
then approve. and then embrace.