The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1877-12-06
SILVER AND GOLD DOLLARS
Letter from ThurlOw Weed.

10 the tAdiscr IF the New York Tribune;
In your issue Of ye5tetdat, SD the sill
yer question, you say: eve make
broad distinction between them and the
bi-metalists. The latter think specie pay
ments can better be sustained by the use
Of the two precious metals than by one"
This Is precisely what have earnestly
urged in letters which you we're kind
enough to publish, but which, L regret
to say, found no favor with onr leading
journals. And this is precisely what can
be accomplished w th the consent and
cooperation of sticn journals. In tax
ing ground fer constitutional moneJ
standards, the press would disarm the
infationists, "repudiators," e" dema-
soepes." etc ;. whose malgn influence is
always to be dreaded. Let the friends
of resumption content themselves Wit;
the money standards of the constitution,
and solution of that question will soon
be reached. Resumption without
prosperity will prove alike tenn
pUrar5 and disastrous. Our specie
basis should be as broad as pos
sible. Congress is invested by the
constitution with full power. The silver
and gold dollar can be made of equal
valu5. Keithcr has any money value
without the "superscriptiof'' 5f the
Government. Silver was "degraded"
by its demonetization, while gold was
appreciated by the passage of the law of
1878. Kepeai thst law, and authorize
the coinage of the silver dollar eatiai III
value to the gold dollar, and we shall
socn realize the truth of the PROPOSE
tion which you deny, namely, that silver
and gold will "fnd q common level"
Resumption with one standard will
signally fail. The basis will be too mar
row. But by availing ourselves of the
double standard both previously equal
in the language and spirit of the con-
stitution, resumption and prosperity,
twin financial hand-maidens, will scat
ter their blessings bountifully amidst
rejoicing people. It Is urged against
the double standard that the single one
has been adopted by the Latin Govern
ments, and that for this reason we
should voluntarily deprive ourselves of
one.half OF the money power of our
country in working otit the resumption
of specie payments. To this I reply,
that our first duty is to be just and true
to ourselves. Silver and gold coin
are the monetary standards of
the constitution. We agreed to pay
the national creditors the interest
and principal of their debt in coin. We
have for twelve years been paying in
terest, in gold, upon more than 81, ,0O0,-
100000. The bondholders, while gold
is at a premium, receive largely more
than the per cent. " nominated In the
bond" And these premiums, as has
been truly said, were squeezed, drop
by drop, from the sweat Of labor; Now,
labor has borne, with exemplary pa
tience, quite enough of injustice and
oppression, and it vbehooes Congress
end the administration. to bring their
best Judgments and their paterna sym
pathies to the consideration of this ques-
ton. When the insidious law Of 1873.
demonetizing silver, shall have been re-
pealed we shall be prepared to confer
with other Governments in relation to
the double or single standard. 1nterna-
tional congresses have been convened
for the consideration Of far less import
ant subjects Meantime, let us hope
that otir Government will mature and
establish a financial system which will
equally protect the credit and honor Of
the nation with the prosperity and hap
piness of the people.
THURLOw WEED.