The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-12-04

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value than that contemplated by parties
when the bonds were Issued. Any at.
tempt 10 pay the National indebtedness
in a coinage ofleas commercial value than
the money Of the world would involve 4
violation Of the public faith and work
irrepatable injury 10 the public credit
Il was the great meri. Of the act OF March,
1859, In strengthening the public credit
that II removed all doubt az TO the pur.
pose oil the United States to pay their
bonded debt In coin. That Act was ac-
copied asa pledge Of public faith. The
Government has derived great benefit
from II in the progress thus far made in
refunding the public debt at low rates oil
interest, An adherence to the wise and
Just policy Of an exact observance Of the
public faith will enable the Government
rapidly to reduce the burden Of interest
on the National debt 10 an amount ex.
ceeding $4,000, 900 per Aunum, and effect
an aggregate saving 70 the United States
Of more than SS00,0O0,00O before the
bonds can be fully paid.
In adopting the new silver coinage
10 the ordinary Uses Of currency
in the every day transactions Of life and
prescribing the quality Of legal tender 10
be assigned to Il, a consideration Of the
first Importance should be 40 to adjust
the ratio between silver and the gold
coinage, which now constitutes our specie
currency as 10 accomplish the desired
end OF maintaining the circulation OF
the two metal Currencies aud keeping
up the volume Of the two precious melals
as our intrinsic money, Its a mixed
question for scientific reasoning and his-
torical experience 10 determine how far
and by what methods practical equilib-
riam can be maintained which will keep
both metals In circulation 10 their appro-
PIRATE spheres Of common use an abso
Lutte equality oil commercial value free
from disturbing fluctuations IS hardly
altainable and without Il an unlimited
legal tender Tor private transactions
assigned to both metals would immedi'
ately tend to drive out Of circulation the
deaFer coinage and disappoint the prin'
cipal object proposed by the legislation
in view. tapprehend, therefore, that the
two considerations Of near approach
10 equality OF commercial value
between the gold and silver coinage OF the
same denomination and Of q Limitation Of
the amounts for which the silver coinage
IL to be a legal tender are essential 70
maintaining both in circulation. II these
conditions can be successfully observed
the issue from the Mint OF silver dollars
would afford material assistance to the
community in the transition Of redeem
able paper money, and would facilitate
the resumption Of specie payment andis
permanent establishment, Without these
conditions fear that only mischief and
misfortune would flow from a coinage
Of silver dollars, with the quality OF un.
limited legal tender. Even in private
TRANSACTIONS, any expectation Of tempo.
rAry ease from an issue OF silver coinage
to pass as n legal tender at a rate mate
rally above its commercial value 10, | am
persuaded, a delusion. Nor can | think
that there Ia any substantial distinction
between an original issue Of silver dollars
at a nominal value materially above their
commercial value and the restoration Of
the silver dollar ut rate which once was
but has ceased to be its commercial val
ue. Certainly the issue Of our gold COIN
age reduced in weight materially below
It's legal tender value would not be the
leSs a present debasement Of the coinage
BY reason OF It's equaling or even exceed.
ing in weight a gold coinage which At
some past time had been commercially
equal to the legal tender value assigned
to the new issue. In recommending that
the regulation Of any silver coinage which
may be authorized by Congress- should
observe these conditions Of commercial
value aud limited legal tender | am gov
erned by the feeling that ii is barely
possible that an increase should be given
to the volume OF metallic money which
can be kept in circulation, and thereby
every possible aid afforded to the peo:
pie 10 the purpose Of resuming specie
payments. It il because Of my firm con.
Viction that disregard Of these condi.
tions would Illustrate the good results
which are desired from the proposed
coinage, andembarrass with new elementS
OF confusion and uncertainty the busi-
ness Of the country, that | urge upon
your attention these considerations. /
respectfully recommend to Congress that
III any legislation providing for a silver
coinage and imparting to it the quality
Of legal tender, there be impressedou the
measure firm provision exempting The
public debt heretofore issued and now
outstanding from payment, either OF
principal or interest in any coinage Of
iess commercial value than the present
gold coinage OF the country.
CIVIL SERVICE.
The organization Of the civil service OF
the country, which has for a number Of
years attracted more and more Of public
attention, has generally confirmed the
opinion that the methods Of admission 10
it and the conditions ol:remaining in it,
are uusound; that both OF the great pOlit.
ical parties have agreed in the most ex.
plicit declarations OF the necessity OF re.
form, and in the most emphatic demands
for it, have fully believed these declara.
tons and demands to be the expression Of
a sincere conviction OF the intelligent
masses OF people upon the subject, and
that they should be recognized aud fol.
lowed by earnest and prompt action on
the part OF the Legislative and Execn-
tive Departments OF the government. Ia
pursuance Of the purpose indicated
before my accession to otIice eudeavored
to have my own views distinctly under.
stood, and upon my inauguration my &c.
cord with the public opinion was slated
in terms believed TO be plain and unam.
bigous. My experience in the Executive
chair has strongly confirmed the belief in
the great advantage the country would
find in observing strictly the plan oil the
Constitution, which imposes on the Exc.
cutive the sole duty and responsibility Of
the selection Of those federal officers who
by law are appointed, not elected, aud
which in like manner assigns to the Sen.
ate the complete right to advise and con.
sent to or 10 reject the nominations so
made; whilst the House Of Represents.
tivcs stands as the public censor oil the
performance Of official duties, with the
peroSative Of investigation and proaeCu.
ton in all cases Of dereliction. The
blemishes and inperiections OF the civil
service may, as think, be traced ia most
cases to a practical confusion OF the du.
ties assigned to the several departments
Of. the Government. Ny purpose in this
respect has been to return to
Al