Evening star. [volume] (Washington, D.C.) 1854-1972, 1877-11-30


The Presidents Message According
10 the New York Sun,
he TAKES A STAND F0e SPECIE REsUaP.
TOMS NOT OPPOSED TO y LIMITED
SILVER COINAGE.
The following appesrei ia the ". Y. SUa of
yesterday:
sage OF the de fdc'O President is unusually
long. 1t contains defense OF the southern
policy and suggestions of the Mexican poll
cy, which are, OF course, subordinate 20 the
financial chapter OF the message. He dis
cusses the financial question very fully, and
then takes q stand for specie resumption.
He is not disposed to look unfavorably upon
limited silver coinage, as is shown in the
following extract. which is from an extra
prCOl slip OF portion of the message now
being printed by an extra confidential set OF
printers specially detailed for the work:
UlOn most anxious and deliberate exam
inaliOG. which 1 have felt it my duty TO i've
10 The subject, am but The more confirmei
III the opinion which L expressed in accept
ing the nom nation for the presidency, aud
again upon my Inauguration that the policy
OF resumption should be pursued by every
sui a'ile means. and thai no legislation
would be wise that should disparage the u
portance or re;ari the attainment OF that re-
suit. / have no disposition ana certainly no
right TO question the sincerity or the intelli-
gence OF opposing opinions, and would
neither conceal nor uDdervalue the consider
ahle difficulties AID even occasional dis
tTeSsts which may attend TIE progress of the
general and permanent prosperity. l must,
however, adhere to my most earnest convic-
tion mat any w&Vering in purpose or un-
Sit adiness in methods, SO far from avoiding
or reducing the Inconvenience inseparable
from the transition from an irredeemabie To
redeemable paper currency, would only
tend to increased and prolonged disturbance
In values, and, unless retrieved, must end q
serious disorder, dishonor and disaster in the
financial affairs OF the government AID OF
the people.
Closely connected with this general subject
OF the resumption Of specie payments Is one
of subordinate, but still OF grave Importance
mean the REIMBURSEMENT OF our coinage sys-
tenn by the renewal or the silver dollar as ali
element in our specie cur ency, endowed by
legislation with the quality or legal tender
to greater or less extent. AS there is no
doubt of the power OF Congress under the
constitution to coin money and regulate the
value thereof, and as this power covers the
Whole range OF authority applicable to the
metal, the rated value and the legal tender
quality which shall be adopted for the coin
age, the considerations which should induce
OrdiscOurage a particular measure connected
with the coinage belong clearly to the prov
ince of legislative discretion and of public
expectancy. Without intruding upon the
province of legislation in the least, have
yet thought the subject of such critical I'm.
Iortapce il the actual condition of our al
fairs, as 10 present an occasion for the eXer-
else of the duty imposed by the constitution
on the Presinent, OF recommending to the
consideration OF Congress "such measures
as he shall judge necessary and expeiient.,
Holding the opinion, as do, that neither the
interests OF the government nor OF the people
OF the United States would be promoted by
disparaging silver as one of the two precious
metals which furnish the intrinsic nouey of
the world, and that legislation which Shall
look to maintaining the volume of that in
metals as their relative commercial values
will permit would be neither unjust nor in
brief and Indefinite statement of certain es-
sential features in any such legislative
measures which feel 1t my duty to recon-
mend.
lido not propose to enter the debate, repre-
scented on both sides by such able disputants
in Congress and before the people and in the
press, as to the extent to which the legislation
OF any one nation can control this question.
even within its own borders, against the
unwritten laws Of trade or the positive laws
OF other governments. the wisdom Of Con-
may be presented for my approval, may
wholly supersede the necessity OF my enter
ing into these considerations. and willingly
avoid either vague or intricate inc uiries. II
is only certain plain and practical traits Of
such legislation that desire to recommend
to your attention.
coinage, regulating its value, aud imparting
to IL the quality of legal tender IL seems TO
me OF great importance that Congress should
should not lose sight of its action as Ope-
ratil In two-fold capacity, and in two dis
tir CT directions. If the United States govern
mtnt were free from public debt, its legis-
idllVe OeallDS WIN Inc QreStlOn OF silver
coinage would be purely sovereign and gov
ernmental, under no restraints but those of
constitutional power, and the public good as
affected by the proposed legislation, bat in
the actual circumstances OF the nation, with
vast public debt distributed very widely
among our own citizens, and held in great
amounts also abroad, the nature of the silver
coinage measure as affecting this relation of
The government to the holders OF the public
debt, becomes an element in any proposed
legislation OF the highest concern. The obli-
CATION OF the public faith transcends all
questions OF profit or public advantage other
wise, and its unQucstionable maintenalce
will ever be carefully guarded by Congress
ard people alike It cannot even add TO our
peoples sense OF this obligation to know as
they 90, that such maintenance Ia the die
tate es well of the highest expediency as OF
the most necessary duty.
The HURON Observation-Disclosures from
CuTrituck Club House, N. c., state that the
bodies of Cadet Engineer Edmund e.
LOomis and an unknown sailor washed
ashore at that place, aud have been buried in
tie sand The bodies OF Easign Banner
Captain Guthrie, twenty-five sailors, ana
two suyfmep have also bean recovered