, 1876-08-30
THE CHICAGO TRIBUNE: WEDNESDAY, AUGUST 80, 1876.

tint, because gold, a. measured oy The grtnbdek-
standari, IL cheaper than formerly, .,n, y IL,
therefore,, obtainab!o With ,e,s Ps0oue,mg n1cag
backs have risen n va1Me7 and not that gold has
deprecated. And Il requires more prounSing
power to procure either gold OF Ereenbaeks thaa
It aisl At the time ot which NJ ~ snI nsreaks'
Or is9Hs s. Il rct, u ae fos "'
ton Of commerce. coin.dolisr. a;o n n:sa @ both bottle to
I'D : 81 s e ~ III.
coin. .dollsrs. Now what ere thtss dollatst Ths!
~ :%, ofss: ct asss ~ sf.:
6ot T. produce da;i.,: Keeping tas an.s.
soma future da7, u doiars, thsy IN fact promise
whsn ths b. pron,ise wns made. [Bu. not to pay
creator Vaiao.I The premise 4 not 70 y psy ess.
Tain number Of tokens, but to pay tnc F&4ae shas
certain number Of tokens represented.
II this il truo (which It ts noD. what possible
difference can II mako to the creditor whether
tho tokens hc receives n payment a5o coid,
sve enPpsF tokcos b.
but Il IL not true. 7hs purehasna possr Or
value Of he standard dollar q ts D,taea Sfates
otoss he act Of 1873 tsds dtternsinea g Ms oatHs
XIII r.Shs shtsh xxi door teta, aid the present
purchasing power Of tho standard dollar Of tho
United States Is fixed by'the value or purehns,,
E w,c 9ses + Contains. @ r1 f. .6e gold dollar kas
since the act Of 1879, been the unit Of vals'e Of
tho money Of the United States, Just a. tho
silver dollar was before the passage Of thnt act.
ard. before tho passage Of the get Of ls7a tho
coinaac Of gold coins was authorized by law, and
thoeo coins were made 1esal-tendcr: Tho gold
coins might then have been regarded - tokens
Of Representative colns,-each dollar Of encll
rntn. rtnrsssuffnu silUt1. dollar, which.
was was tho tsda standsra dollar, and would DO
atlIl but Tor the swIu!aling act Of 1873,
which makes the gold do9ar IN the standard, tn
,thcreby arbitrarily compc's tho man who three
years ago agreed to pay bis note for 500 Ia
coin-aollars, 70 pay TO per cent more in value
tlan the standard dollar ut the time Of the con-
| trnction Of the debt.
liz says further: ...
| Whero there arc two st1ndards Of valuation, Tho
right OF the holder Of cont.actto to PAY eon. .dolars
hs ne,nst ns b. mag Il ~ aesS s Ss
| ionsibo.
Without admitting this, answer, Il. H. not
| tTuo that there ever wcro two standards OF val
UNFIT nj. SINNER 4 @ 's srgumsRt ] based on "pnblic
policy j need not be noticed. Ths old adago
that q Honesty Is the best policy" Is applicable
to public ~ well ~ private policy; and no man ~
honesty requires that any contract should bc
performed In any different manner than In ao-
cortanco with It's express terms; and any con.
tract mafle prior to 1879, for tho payment Of
coIndolars, Is, by Tie law in force at that time,
payable in saver. dollars. True, payment might
have been mado IN gold at TIC option Of tho
la lt6ar would e. compelled to receive it. nut, &C.
cordIng to the Pecksnitllan morality OF
our friends who oppose the rcstora.
ton Of silver, sllch payment would
have been dishonest II gold was commercially
cheaper than silver. And II gold, from any
cause, had, before the day Of payment, bcconc
tho most valuable metal, 1t would be equally
dishonest to require tile debtor to pay gold.
Consistency ts towcl. j. W1hsu1p.