The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1877-08-03

period for the redemption of the United
I" States notes in coin. Com mercial pros
"perity, public morals, and national credit
" demand that this promise BE fulfilled by
ga continuous and steady progress to
specie payment"
This resolution was adopted, as an article
of republican faith, while the law of the
land provided for the resumption of specie
payments by the first day of January, 1879.
That date was fixed by the almost unani-
nous vote of the republican members of
both houses of congress, and at the time Of
It's being fixed the act was made test Of
party fealty. The republicans Of Ohio
had just come out of successful campaign
in which they placed themselves squarely
in favOr of resumption on the day named,
while the democrats had placed themselves
squarely in opposition thereto, and Ruther-
ford B. Hayes had been elected governor
on this issue. 1t is conceded that he could
not have been elected upon any other issue.
Such was the position at the time OF the
| pdhhukC VI kLc lEbOlutlOh hhu ~ COulu hoNO
but one interpretation-that the repub-
licans Of the country were unal-
terably opposed to the postpone
ment of the day fixed for resump-
ton. Upon this platform Rutherford b.
Hayes, whose unequivocal position on this
resumption question was well known and
understood, was placed in nomination for
the presidency and is now president Of the
United States. Under these circumstances
the re-aff1rma,ion and adoption of this res
olution can bear but one construction. We
should have been better pleased had the
convention, in 30 many words, pronounced
against any change in the date clause Of the
resumption act but we cannot, in politics,
always have everything we desire, and
after all, the resolution is sufficiently ex
plicit for all except carpers.
The Ohio republicans are afflicted with
the silver craze, now 80 prevalent through
out the west, but it seems to be Of the mild
est and least offensive form possible. They
demand the decentralization of silver,
which, of course, can only mean that thu
silver dollar shall be recoined and that, al
prior to 1873, it shall be made legal ten
der. AS we have explained before, thu
ouly alteration made 10 our silver coinag
when, az it is called, silver was "demone
cited" was that no provision was mad
for the coming Of the old legal tender ell
| yer dollar-all of the other silver coins be
} ing authorized and made legal tender TO
} the same sums as for twenty years before
, And further, as a matter of fact, although
, the silver dollar had been down to 1873
legal tender in payment of debts 10 an.
amount, yet it had ceased to be current TO
twenty years, and was coined only in linn
tied amounts for the convenience OF for
eign trade the same as the 'trade dollar l
: now coined. So that, in fact, the demone
tizstion of silver worked no injury TO an.
one, and the demsnd for its remonetlzatio
is more matter of sentiment than of prac
tical importance.
They modify their demand for the re
monetization of silver, however, in such
way that we doubt If the worst radical ad
vocate of single gold standard can fin
any Iault InerewIIn. Iney demand IN
reconciliation of silver and that, wit
gold, 1t shall be legal tender for all deb
. "except when otherwise specially pre-
"vided by law" bat that its coinage an
valuation shall be so regulated that our pee
e pie shall not be placed at disadvantage
n trade with other nations. In other wore
1 that the Hneness and weight of the slvt
v coinage shall be 80 regulated that it shall I
all times be equal in value to gold. Wit
the constant fuctuaton in the price of 81
O YER, this would be almost impossible {
u accomplishment; but if it could be dom
II It's weight and value could be at all tint
= made and kept equal with gold, we fail
o see any objection to such money. As ii i
l. however, it looks very much like trimming
n but this silver clause, as well as the att
"a tude on the resumption question, is va
= improvement on the democratic platform
= and, as we have said, is much better this
we even dared hope for.