The daily gazette., 1877-12-31
DECEMBER 3I.IS17

- M DE- - IL 10
SENATOR BAYARD, in his speech on
the 18th ult., says gold dollar is now
worth 440 grains of silver. In 1879 1t
was worth 4l21 grains of silver or, the
silver dollar was worth 103 cents In gold.
Now, the characterization Of silver, we
believe caused all this depreciation, ana
the passage of the Bland Silver bill will
put silver back to its relative value with
gold. The government sold the bonds
payable in currency or in coin at valua-
tion of 4l2a grains, the bondholders and
their lobby had silver demonetized and
gold advanced to pay the bonds now in
gold is to pay 440 grains of silver ; and
this too on $2,300,0O0 900; are the people
such "consummate fools" Gas the Com
mercidl calls the forty-one Senators) as
to be swindled in this way.s We think
not. They will have the silver dollar
put in its place in the volume of curren-
cy and pay the bonds in coin, either
gold or silver, of the value Of 4123 grains
of silver or in greenbacks perhaps, if
greenbacks 60 up to par, as we believe
they will after the Bland bill passes. We
are in favor of double standard and
opposed to a monopoly Of either gold or
silver for currency. We are therefore
not in favor of the proposition OF Mr..
Stanley Matthews to pay the bonds In
silver only. But Mr.. Matthews resolu-
tion, If it passes, will not be law nor
does it contemplate single standard of
silver.
If the Bland bill does not pass, and
the present status of gold remains, every
dollar of our city, county and State
debts, as well as the government debt,
will have to be paid at the rate of 440
grains of silver to the dollar, when they
were contracted on basis of 412l grains.
In addition every mortgage will be pay
able on the same basis. 1t is needless
to tell us that the greenback is "legal
tender" as we'll as gold. We know and
the people know that the same schemers
that had silver demonetiZed without
reading the bill, could bring an action in
the Supreme Court after the adjournment
of Congress to test the question whether
paper was a legal tender and we all
know what that Court is-lts seven 10
eight is still fresh in the memory of the
people. We know that it did decide that
paper was legal tender but it has had
accessions since, and if it had not been
thus changed, it might reverse its de-
cision as it has done before.
We believe we promised an "honest
dollar" in paper or in coin, either, il
you please, but the dollar that is now
sought to trick the people into paying is
dishonest dollar; and the Bland bill
which simply restores silver to its posi-
tion as legal tender, is the fairest and
simplest measure that can be adopted
Gold is coined free and SO was silve
until it was demonetized. Now, let thu
two metals be again restored to the posi-
ton they occupied before the war, ant
silver will go to 103, which it was wortl
when the bonds were issued and befor
the bill was passed making the bond
payable in gold exclusively. The pee
pie agreed to pay In gold and silver col
or in paper. No Congress was authorize
to promise more. To say so is to sa
they could with the same cohsistenc
cause individual contracts made to pa
mortgages in silver payable in silver
reduced valuation or, in fine, to pa
the bonds inpaper. If one class of pc
pie have the right to favor the paymel
of the bonds in coin of higher valu
another class have the right to favor Il
payment of the bonds in coin of low
value. The cost comes from the labor
the whole people, and it is not fair
tax all for the benefit of class in O
section, whether in the East, or the we
or the North, or the South. Just NJ
now the East wants to be favored if S
is favored to the cost of the South a
the West, how long will it be before
South and West section will want to
favored? 4? The result may be that c
section in which Delaware is will me-
have her turn. Let us pay what we 0
and no more.
To-day is the 25th anniversary of
marriage of Mr.. and Mrs Hayes, ;
Mrs. Hayes is to be presented with a