The weekly Oskaloosa herald. [volume] (Oskaloosa, Iowa) 1855-1885, 1876-10-12
SIGOURNEY NEWS ON SAMPSON.

''A"O A'ASf' oN JAM SUM
x * = Was it the part of
wisdom, under the then existing cir
cumstances, to oppose as Judge Samp-
son did, attaching the question of the
full legal tender of silver to the subsi-
diary coin bills; and to take away
the legal tender quality Of the trade
dollar?
The object Of the first of these bills
considered in the House, March 1G,
was to make an appropriation of
$l6O,OOO for re-printing the worn and
mutilatcd greenbacks, and to direct
the Secretary of the Treasury to
issue silver coins, as he had been
authorized to do by the act of Janu-
AIRY l4th, 1875, indemption of the
fractional currency. There was a
pressing necessity for the immediate
passage of the bill. The appropria-
ton for re-printing the worn and
mutilated greenbacks and fractional
currency fer the current year had
been exhausted. The bureau ofen-
craving and printing practically
closed. The mutilated fractional
currency constantly coming in, and
failing to be renewed and returned
to circulation, created q scarcity of
change. The employees Of the Bu-
reau were clamorous to know their
fate, whether they should be return
ed to work and pay or finally
dismissed. To keep out the fraction
al currency was costing at the rate of
81 100000 annually. If this policy
was to be continued there must be an
immediate additional appropriation
Of $25O,0OO to carry on the work of
renewal. There was lying idle in
the treasury already over $11, ,0O0,-
600 in silver coin, accumulated for
the redemption of fractional curren-
cy. The $50,00O.O0O of subsidiary
coin necessary to be provided to sup
ply the wants of the country was
probably all that could be furnished
by the mints before the next session
of Congress. The soft money men,
including many who are now the
loudest for the silver dollar, after
they saw silver was likely to be pop
ular, were determined to defeat the
issu of silver and desired to load
down the measure with any scheme
likely to delay its passage. 1t was
engrafting on the bill the whole legal
question, whether our legal tender
should be gold, silver or paper,
whether we should nave the single or
double standard, a financial problem
engl ossing the attention Of all the
leading countries of Europe, and upon
which, according to Senator Sher,
man, there had been published "more
"pamphlets, books and documents
"than any other question whatever
ain political science" 1t was certain
to lengthy discussion and great delay,
and as the subsequent events proved
from the fact that all that was done
was to appoint joint commission to
collect and report information fol
the next session, would have defeat.
ed the whole scheme, for that session
at least, of issuing the subsidiary sill
yer coin.
When it was proposed again to at
tach the same proposition to the sec,
ond bill to facilitate the issue of sill
yer, by the Landers amendment, il
was found necessary to abondon i
then for substantially the same rea
sons, and Senators and members who
declared themselves in favor of max
ing silver a full legal tender voted
against insisting on ENGRAVING it OF
that bill.
The trade dollar was originated by
the act of 1878. 1t was intended ex
clusively for the China and Japar
trade, to drive out the old Mexican
dollar, and aid the Pacific States il
finding a market for their silver
Owners of bullion had the privileg,
of depositing it in the mInts and hav
ing it coined into trade dollars at tn
bare cost, a privilege never given 70
any other silver coin. 1t never wa
legal tender for any more than fv
dollars, and the fractional coins W
were issuing was legal tender 70
the same amount. Notwithstanding
it contained 420 grains, "a more tha
the two half dollars, and u NOR
than the old silver dollar, it was be
low par in California, and Califoi
MIA Senators and members favore
its discontinuance as legal tende
The director of the mint also recon
mended its discontinuance in tw
different communications-one I
Senator Sherman and one to M
: Cox-on the ground that it emba
, rassed the Government in gettin
/, out the necessary amount of subs
diary coin.
It has been said the motion on I'll
Kelly bill to provide for the coinat
: of the old silver dollar of 4121 grain