Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1877-12-26
GOVERNMENT BONDS.
A Debate In the United states Sen ate on
the Bond Question and the silver Bill.

lhe discussion III the United States
Senate, on Wednesday, December IL,
upon the real issue of the day, should
be read by all men. The speeches Of
the Senators being short and to the
point at issue, we give the proceedings
in full, and request our readers to give
the subject an attentive perusal. The
proceedings are as follows =
The Vice President. There comes
over as unfinished. business of yester-
day resolution, which will be read.
Mr. Herman. | understand that the
unfinished business is the resolution
offered by the Senator from Ohio, Mr..
Matthew'S
The Vice President. 1t is about to
be laid before the Senate. 1t will be
read by the Secretary.
Mr. Herman. was going to ask the
Clerk to report the resolution.
The Chief Clerk read the resolution
submitted by Mr.. Matthews on the 9th
inst, as follows
WHEREAS, By the Act entitled Gan Act to
strengthen the public credit" approved March
Is, 1869, it was provided and declared that the
faith Of the United States was thereby solemnly
pledged to the payment in coin or It's equivalent
Of all the interest bearing lignsons of the Unit
ted Ststes, except in cases where theiaw utbor-
iring the issue Of such obligations had expressly
provided that the same might be paid In lawful
money or other currency than gold or silver; and
WnEREAs, All the bonds Of the United States
authorized to be Issued by the Act entitled :" An
Act to authorize the refunding Of the national
debt" approved July IA, 1870; by the terms Of
said Act, were declared to DO redeemable In coin
Of the then present standard value, bearing inter
est payable semi-annually in such coin and
WHEREAS, All bonds Of the United States
authorized to be issued under the Act entitled
"An Act to provide for the resumption OF specie
payments" approved January II, 1875, are re-
quired to be Of the description Of bonds Of the
United States described in the said Act Of Con-
gess approved July "A, 1870, entitled "An Act
to authorize the refunding Of the nstional debt
and
WHEREAS, At the date Of the passage Of said
Act Of Congress last aforesaid, to wit, the l4th
day Of July, 1879, the coiu Of the United States
Of standard value Of that date included silver dol
lars of the weight Of il2l grains each, declared
by the Act approved January Is, 1887, entitled
" An Act supplementary to the Act entitled An
Act establishing Mint and regulating the coins
Of the United States," to be n legal tender Of
payment, according to their nominal value, for
any sums whatever Therefore,
Be iresoired BY The Senate, (the House Of Repre-.
seniotires concmring hereia) That all the bonds
Of the United States issued or authorized to be
issued under the said Acts Of Congress hereinbe-
fore recited are payable, principal and interest,
at the option of the Government Of the United
States, in silver dollars, Of the coinage
a tho United States, containing 412l grains
each Of standard silver and that to re
store TO its coinage such silver coins as legal
tender In payment Of said bonds, principal and
interest, is not in violation Of the public faith
nor in dcrogatlon Of the rights Of the public
creditor.
The Vice President. The pending
question is on the motion to refer the
resolution with the amendment offered
by the Senator from New York Mr..
Conklingl TO the Committee on the
Judiciary.
Mr. Herman addressed the Senate at
great length IN opposition to the reso
luton. His speech Is withheld for re-
vision
Mr. Wallace Mr.. President, ! shall
not attempt to-day to enter into an
elaborate argument OF this question
Mr.. Beck. The Senator from Penn
sylvania yields TO me ior moment,
and thank him for allowing me TO
make an explanation OF a question l
put to the Senator from New York. l
do not propose TO make speech ON
this subject. | am too new a man
here to hope either to convince the
Senate OF the correctness oil my views
or to change or influence a single vote.
But asked the Senator from New
York a question which he seemed TO
think had nothing IN II, as 10 the
amount OF silver coinage oil the oniteo
States. lie stated the iact 70 DC that
there had been only so,o4o,ooo coined,
when i suggested TO him
Mr. hernan' SILVER uo,lars' ! saiu'
Mr.. beck. l meant SILVER uoiiars
when ! suggested 10 MN that tnere
had been coined since 1919, from iof
TO 1871 sixteen ana one nal, millions
oil what were known as trade uoIiars,
which l thought ~ was ialr 10 suggest
was part oil the SILVER coinage
Mr.. Herman. NO, they are not iegai
tenders, but mere TOKENS
Mr.. Beck understand ana there
fore the suggestion was regarueu as
being worth nothing NOW, i asscr.