, 1877-08-25
Tho Objections 10 Double Standard
Not Well Founded.
Dotlt Foreign and American Dondlold-
ers Hare Been Munif1cently
Rewarded.
The Argental Wealth Of tho Country
Should b Applied to It's Proper
Use.
specie-Faynents, Without tbs Use Of
Silver, Will 30 indefinitely
Deferred

New ToRK, Aug. is, 1e77.-1a The Editor Of
ne Htp Fork Tribune. The discussion Of
tit a.tscE question, ~ hope and believe, pro.
crosses satisfactorily, The strong positions taken
1y the advocates OF the silver standAEf hare not
tccn shaken Or weakened BY lts opponents. The
fact that tho Consultation designated silver mad
gold u lhs legal currency Of cur country, au.
tho1lxing Congress to determine tho weight
and va!ue Of coins, and prohibiting The Slntes
from making anything but silver and gold legal
standards, IL neither denied nor questioned. Nor
IL tho further fnct that the laws OF Congress- from
the Inauguration Of the Government, With uulm.
portant executions, provided tor the payment of
principal and intesear OF ths public debt IN coin.
denied. Nor viii It be asscrted that
there II any constitutional power 10 I'm
pair the obligations Of the contract which
entltIcs the public creditor 10 the payment Of
lis debt, principal and interest, IN silver or. gold
80 clearly fncontEovertibo IL this point, that, 1t
tho sccrcsary of Tho Treasury should tender pay.
Mcnt Of q debt contracted befora tho law Of 1873
In aitscs and tho creditor rcfuacd It. tho question:
II earned to the Supreme Court Of the United
6tatcs, would be decided In favor Of the Govern.
ncnt, on the ground that
EVEN CONGRESS HAS NO POWER
10 impair tho Obligation Of the contract.
1t Is not perhaps to bo regretted thst the con.
stdcsaton Of tic bill rcuonettzlug silver, which
passed tho House Of Representatives by large
tor,ty, was postponed by tho Scnate. The merits
Of ,ls question will bo bctscr understood when
Congrcss rcntsombles. Those who saw rcsump-
tlon and prosperity IN tho near futuro. by
repeal Of Tho law Of 1879, wilt not
long bo atigmattzed a. ''inaallontst4." We
are enjoying, In tho subsidiary silver which has
quietly taken tho piaco Of paper stamps. gratfr.
ng .nstal1mont upon tho full measure Of The bless.
tender viii confer upon tho people. And yct thcsc
blight half and quarter dollars and dlncA arc held
ssosa;ss ot ;ng'e staaasd u parts Vi
Meantime. ths ono-EtandaEd theory, ~ tho dis
caysioM progresses, .erows weaker. Tia one e.stand
tilstea. carried eserys hing 6y storm. i ha1o
carefully examined thoir side OF the question.
Ths argument L narrowed .s down to tyo point,
That 4 doublc standard IL inconvcnicnt;
md, scconl, that Amorlea proluecs too mucn
qures tho adoption Of gold stsndard. ID tho
dawn Of civilization, and for many succeodfng cen.
lutcs, there wha but single standard. and
THAT BrANDAnD WAS SILVER.
'ts!lser !lsH bssn standa1d," n the LANGUAGE Of
.sss .'.adii Stpk Id 5ssn s ssssa
standard would have been silver.
The law of 1911 demonet!ztng silver waa quietly
uose md o1ect wers not undoratood By ono out Of
1yc Of tho members who voted for IT, Nor. until
.hls discussion comnenesa VA ths s1.tense
np, ss our proSos sssH' tho IL ss p'''sa
H. o f. s, ha: Sss to sppe
aud oppscss labor, Thetu seems tn tho minds uf
t4s adsscaes q the gold stanasd but one interest
must yield 10 the bondholdtrs. No matter whist
amount u loss or sndetns reaches otner interests
tscsed. The bondhoiaors aTa moi oaly wards
d tho Government, bat enjoy ihs YIN.
Bsn{ ,na q :hs ps ,,s s'sry oi9ss dfpast:
may AeGk In yAln for fMpl0ymunt, but tho nona-