The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-07-14

ot July. Referred TO the Committee Of
Way and Means.
Mr.. Thompson, from the Committee OF
Contested Elections, reported resolution
In the South Carolina contested election
case declaring that neither Butts, the con
testant, NOR Mackcy, the sitting mem
Der, we're lawfully elected to Congress
Ordered printed. .,,,
THE SILVER BILL.
Mr.. Payne, from the Conference Com
mittee on the Silver Bill, made repor
and proceeded 10 explain 1t. -.--.. =
tNorE.-Mr., Paynes explanation OF
the points Of difference was in substance
the same as given In the Washington dis
patches on Tuesday night.
Mr.. Payne went On 70 explain that IL
regard 10 the proposition to make tht
silver dollar a legal tender for all debts
public and private, the committee hat
been unable 10 agree, but two Of thu
House conferees and all the Senate con-
ierees had recommended the omission
from the bill Of all that related
10 the silver dollar. He showed thai
owing 10 the extraordinary decline IT
the prices Of silver within the lasl
few months and most remarkably within
the last ten days, the silver dollar oi
the weight and fneness prescribed by law
Is to-day worth no more than eighty cents
relatively to gold and less than ninety
cents relatively TO greenbacks. SO ex;
sremely sudden a change in the value: o.
The silver dollar made the proposition oi
declaring It legal tender, most start
ling proposition and one Of a revolution.
ary character. Certainly Congress and
the country should wait before the stan
dard value Of silver was fixed by law
Perhaps 1t could be determined at the
next session, but il could not be now. The
conference committee therefore could not
agree in recommending any policy in
reference 10 the silver dollar.
Mr.. Lawrence inquired whether Gov
crnment bonds might properly be paid in
silver dollars.
Mr.. Payne replied that in his opinion
they could legally be paid in silver dol
lars.
Mr.. Landers, one Of the House con.
ierees, opposed that part OF the report
which omitted all reference to the silver
dollar, and argued in favor OF the resto.
ration Of the double standard, which had
been the standard Of the country from the
foundation OF the government up to 1867
Mr.. Fort regarded. the pending ques-
ton as one OF Decentralization Of silver,
and asserted the public debt and almost
all private debts Of the country had been
contracted when the standard dollar was
a legal tender. The bondholder should
be held up to his contract and should be
paid in a commodity which he had agreed
10 accept; but il was said that silver had
deprecated. If, however, gold should
depreciate through discovery Of some
great bonanza, what would the gentleman
from Ohio (payne) do, would he in inter.
est OF the bondholders say that gold had
deprecated and was dishonest money,
and that therefore the bond holders
should not be compelled to take their pay
in gold but should be paid in diamonds
or some other more valuable commodity.
Mr.. Bright opposed the adoption OF the
report and argued that by implied
recognition in the Constitution gold and
silver were lawful money OF the United
States, and that therefore the demonetiza-
tion OF silver was unconstitutional.
Mr.. Cox, chairman Of the Committee
on Banking and Currency, argued in
favor OF the adoption Of the report, and
he suggested that the bill introduced by
Mr.. Wells, OF Missouri, to allow the
owners Of silver bullion to deposit it in
the mint and receive subsidiary silver coin
in payment, was better bill than any oi
those passed By the House, but that bill
was not before the House. The confer
ence report was not amendable. III il
was adopted the issue Of silver coin wonld
be facilitated. II it were not adopted
there was no hope for relief this
session. He might argue with the gen.
tleman from Indiana (Mr. Landers) that
even government bonds should be paid
in silver as well as in'gold, but he would
not stop 10 argue that or other pertinent
questions. The real question was whether
this report which would furnish silver
currency to the people should be adopted,
or whether the people should be deprived
OF that relief? .F.
Mr.. Kasson said those who sustained
the report demanded that the wages oi
labor should not be paid in depreciated
money. No man dealt honestly with the
laborer Of the country who didn't propose
10 pay him for his, labor in good. money
On that platform he had stood fol
years against all clamors for inia-
lion and all attempts TO reduce the money
Of the United States 10 the value Of that
Of San Domingo. where it takes a mar
ket basket full TO buy n dozen Of eggs foi
breakfast. A vote for this bill was not a
vote to demonitize silver, but, TO remoni'
tie and to satisfy the demands OF the
community for silver change.
Mr.. Garfield said the House had been
brought face to face with what seemed or
one hand pubic honor and on the other
the deepest public disgrace by the altera'
tion OF the propositions presented TO the
House. He argued that since 1884 there
had been but one standard Of money ir
this country. Thedollar, althoughit had
been embodied in the two metals, gold
and silver. Congress, had sought, how
ever, to make the dollar 10 hoth'equiya.
lent to keeping the amount OF metal il
one 40 adjusted to the amount OF metal Ii
the other, that the dollar 10 gold should
be equivalent to the dollar in silver
Every hour, he continued, that We have
had double standard 1t has been double
only on the ground Of equivalency, anf
when by shifting the value Of the two
metals in relation 10 each other they have
changed. Congress has come In aud equal
lied them, either BY increasing the amoun
Of metal in one or by decreasing II in th'
other. 1t has so happened that by fluctu
ations forseen In 1878, silver has so de-
preciated in value that il II were now
as thank God II is not-one OF our lega
forms OF payment in all amounts t
creditors Of the Government, the mel
10 whom We are paying money every day
all around us, could be swindled 10 III,
extent OF 81 cents on the dollar when pay
Ing them in silver, rather than in gold
or rather TO the extent OF 10 cents on thu
dollar when paying them in silver rathe
than in paper. We are solemnly bounC
by the act OF 80 10 pay our bonds in coin o.
its equivalent. Do you say that you cal
pay them In deprecated silver and still
keep the law Of equivalency which wa
the spirit OF the law Of 1869? YoI
violate the law when you violate ever,
essential word Of It's equivalency. Thl
whole meaning Of this Is that there is ii
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