, 1877-08-17

IFaeHet IS coin faln-s. NfItEn2 IS clearer i'll the
fundamental law than the 1ctitat to ti,,ycr,,-
incnt uf the Constitutional poru.. II, make It's
dErhf!lt a etthttttnts 3or lc:ll-tv.tIer money,
Exceptsas tclclsc ia :ac eti.eEyca.:y of wAr
The present legn1-scndcr notes were held n he
constitutional By sliyi,iti cort On this cTnYni
alo'. II Is ,c4;iaiIy impossible tn. retro the
nathn!AI banking ,'ufretny by taking ap u1ni 'lh-
chsrging the lpnls held as sy!Iaterais With d
furthcs Issue Of icgaf-ttnr!er ,'o.cs.
T11Er CANNOT HI hist.EAEnED
With the fcghf-te.rler Hntcs of ANY issue without
Violating the faith n:nl ',unor of the ,,atit,,.
pledged to tltetr payment IN c'tn. ficluru to
sEcstc payment. enable th; banks l., make
tbs plensuTc oi tic imj.icr, aud they viii
constitute MI agency incunltarahty superior tu
the centralized 1,olt1cnl tis,wtr at Washington
iof regulating the volume q t'irschey AZ corl-
rs 70 e wats n n ,as 70 e
tallty, who know its wants by persona! rt,1,ta:t
with them. facilities and powrt to Supply tt,utc
wants ~ they n1ay arist. IT rctuSn!zcs tic
n1!;ngip's o. hMne'r',lo IN itrn's1!',. md rcsa-
tial srhoul insists that tho ntrrconvestts,ity Of
coin am! paper money cti better ,o effected l,y
tlie arbitrary CONTRACTION and rntlret,cnt OF lc.
Ka'lener notes nnt!l their sain~ s'lalIie brought
In the contracting DOW er at Washington tint
might not nlways bo influenced by virtue. 1t II
q power that cnn be much tnsfc safely excn,ltctl
y TIE people 1t hoilc, through slle ordinary
poltttcsana piled by tic bulls and bears Of Wall
street. Tho existing strain upon Western H.
terests and Western capital by tho shrinkaga OF
Falnes without a!IFinkage ri liabilities, makes
ttas sia,o ~ f'e'so"'c'''o''S 1ofuuen eohtFae
''''' "'''' SIMPLY SUICIDAL,
Ausmentfne tho rallc by sheer force of making
money scarce wnu.tt tioubly intensity tue strain;
would cause tho final fracture. For these reasons
u x9M.a seem t1e dictate ol common sense That
u papcf money, and the gradual approact, to
tom vancs arc things to lie resisted i possible
N ay plan y reeunptiu1i and l!enec tlta. either
p{sr ,ofsea aIo xa1 Or ipseca b entraetio q the
power is .'..-.. .-..
ALrKE HAZARDOUS AND CxwtsE.
The existing volume of currency embraces
portion ot Eol rofn. The gradual replacement
than that already in circulation would tnnsn,aiu
conRtancy 0f yolitmc, and ii,scnsibly hut
surely bring about i,,tcrconycrtlbittty
without shock OF disaster. This
substitution Of an additional unI sufficient
amount uf gold cotuaec il il WERE nractiI-,bc Il,
cotnmund 1t, but at present it IL not, Cau it be
done through the reconciliation nf stlyerf
1io here quoted from the Ohio Republican
platform resolution favo,i,g goll and silver ~
money, and thr reconciliation Of silver, and
from tue Democratic platform resolution de-
nouncing tho enactment of tue measure de-
toa svef ~ ann tae 's'tofa
that ., both Conventions i,ave declared for re.
yention having favored restoring To 70 silver
jcct deserved so,ao eof.lderutIon. ri1c M value I
Of the OLD dollar recently tIropped Iar below
that Of tic icgai.tcnder nots 't a. ts latter wa
H. i"osi H. '.on Ny ~ ~ Eua; u W. e9ntna
nrsctnfs, ~. ,.,.,s NV .,.t sn"h W
,iic " .m s,,a elrIpo5sa1 ~ aseaagas
out alailono1 Or breach Of contract: Further, #
wa ts o IL syer poy ~ hs
in the rcstnrcI ,Ioiior oy hkot rn,phi III IND
f1ucnps, inr ni,,nHh u n,s nKo "s'sn1 @ ,.' a.,a
eontracte4 e wtth Immediate Inference 70 rny-
aeMt ln cRai LehAcs notest ~ rs taey xere r.
deemablo IN tho ola dollar, It must hase been
contracted with reference 10 possible payment
In that coinage. Also, rs thu y,|up Of legal
tender couldncrcrr1se ahoyc tho " luc Of tho co
ever much II slou' cn2cciaio naa n
inf,,,tjtc ran in IFan~t In mi, rnuirs,.f. hv
.iischaron Inn, n u. ,io11sr .o,;n.,aataY
ness hare been contracted during tl'c lour ycars
judge tk West West con.!nusa: R '''N' "''''"'''1"'o''
ThIs ,ndcbtedne,, bas hem ,u,crc ,r,o viii, RAT.
crcnco to payment IN icSal.tcnders. lnS yaino or
eli eon sos 81 s eesenee a a o.
Cline in vnao of Inc Old aIlycr doiiar below that pf
leEal. tender noteu, which f"uld not, Isse
destn.bo In that M doi.a9. 'ei i.esee nc :" con. M
p,ltsory payment Of tuch recent iniebt.
fane.: fe. H., T. IT, ,n.w,!.t.sa.d @ dollar ot
tender shail haye 4 o. time wLsn payment .aii
sio 5 Of Of sueh powcf Aa ao'a'''' 0' 'oe e1e''
Again, abont seven hundrcd n,ftttnns of tra,,.
md Ssnk notas are oa'"teadns. s y wSs st