, 1877-03-02
THE CURRENCY QUESTION.


CiurAoo, Feb. 2A.-feleving that the currency
question IN, IT this tlme moro vitality Important to
thu business interests and prospersty OF tho nation
than any other, and that through tho sophlsms Of
some and the studied silence Of others, coupled
With the neglect or refusal Of public Journals to
fnlly and freely dIscuss It, II IL 1uro ln,pcrfectly
understood than subjects Of this magnitude should
b. BY tho people, fuF whose bencat alone all laws
are passed; and believing that the law OF 1879 dc.
1nonettzing silver was not only un1nst,
injurious, and adverse to tho Interests
Of tho people, bat absolutely laconssttu.
tionat, and Impressed With this conviction,
It has been the strong desire Of my heart to awaken
inquiry on this sublect, 10 that thoughtful minds
might bu led to Investigate, and, by full knd fair
discussion of the subject, the truth might bc 10
presented ~ to secure that legislative actou that
tho interests Of Tho country required. have said
that believed tho law Of 1873 WAS unjust, in}uyi-
ous adytr1o 10 tho lntercsa OF tho people, and un-
constitutional. II muat be admitted, 1t my belief
IL we'll founded, thal tho law sAuusd never hnyo
been pAsacd, Aal that II should have bceu repealed
whcu IL character was known. In my former arti.
cics have presented soma Of The considerations
that led to these conclusions; allow nc 1t thla
tsme 10 give my reasons little more
1uoshodlca!ly than have heretofore dune, and.
tfst, II 10 its eansiitutlnnalIty, ly the constl-
tuition, power Il given Congsesa 10 borrow money
to coin .aoney,-to regulate tho value thereof, and
to regulate tho value Of foreign coin: Gold aud
The terms used to designate money. such -
dollas, pounds stancs t!laiefs. ese., arc n,ercly
gold Or sllses IN such dollar pound, ftane ete. ~
thsrs should BE- and when colnud Il bcc0lius
formed il duly In coming Il. Il,e power 10 re9u-
lats Tho value Of monsy Ia simply aud solely The
pa 'a fn: :fs
the power to rsg4!a lie vapa Of foreign coin IL
only determine ls relative value In gold silver
70 tho gold ulser dollar Of this Government, and
these ate all tls constitutional powers that Con.
gscss possesses over the u.oncy q4sst!on. Does
Tho power to coin m0Rey extend farther than to
mnkc tbs necessary arrangements for assaying and
testing the quality " tbs gold presented Tor coin.
Of void or silver the pledso OF The, !doyerament
thai II contain. ~ auy grains VI gold silver
The law requires should constitute dollar, OF
pstt4 Of doltar, Or number of dolsars, ~ the
1t give tho power ~ say that gold sllyer IL not
money, or That either u not money! For 1t oa9
eau he demouttlzsd. then both-aud II both, then
eonttsc.., j. prevent tas collection ., asIts. and
overturn Ill Tho regulations by which the commes-
clAt trpnAactlona OF the world have Lren
performed 10 past centuries. lhe power ~
cuin MONEY does not gyu tho powef 10 drstruy II.
It may be sald thai ihe power 10 regulate The raas
| Of coined money Eiyea, power ~ demonetixs II.
Whit have before said upon this power, Il sp.
peaE4 to as, " sutc!aut 1nswer To lis sAtef ftun.
va pressntsd Ia e1ehsuye fes N sricis Il .houid
not be nstessa1y " haYc pair ct kcales 10 weigh
It os resort to chemcal siaysls to dtterDiue !ts
! purity-fos both had been aready dpae by the
psArtl upon the lace Of the tttn presented. Ger.
taiuly The power 10 regulate tho Saiuc Of u,ouey
did rot cours{ the power 10 taJ Vt bud no value.
| Tie powes to gega!sts ths yalus Of foss!Su COIN