The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-09-29
how was silvar penaonetized2

Judge THURMAN, the senator from Ohio,
In his speech at Marion, insthat State, gave
the facts concerning the dennonetization OF
silver, which will interest the reader. What
he saws, OF course, IS strictly true. Those
who approve the reconciliation OF silver,
|, we are gratifed to see, have IN Judge aHo1-
NAN a powerful advocate OF their cause
The Judge said:
When did the silver dollar come to De ae-
lmonetized? It was demonetized oy ths
passage OF what are called the heV!sc9
Statutes OF the United States. the revised
Statutes OF the United States were COM
niiation OF statutes made by commissioners
annointed under an act OF Congress 10
gather together the statutes OF the United
States, which were scattered through some
eighty or ninety volumes, into one volume
that is, such provisions as were OF general
and permanent nature. -
They did so, and made great, big book,
containing more words, believe, than the
Bible. Now, mark it, that commission was
not authorized to alter single law IN It's
| meaning. They might improve phrase
olosy; and where there were two or three
laws on the same subject Identical in mean
ing they might drop those last passed, be-
cause the first had already provided for the
case.
The title of these Revised Statutes is
"Revised Statutes Of the United States,
passed at the First Session OF the Forty
third Congress, 1924, embracing the
Statutes OF the United States OF genera
and Permanent Nature, IN torce on me Isl
davof December, 1878, as revised and con-
solfdated by commission appointed unaei
act OF Congress"
This act, called the "Reylsed StatuteS'
was passed in June, 1874. and approved py
the President on the 22d OF that month. IL
was passed through the Senate without De'
| ing read, because it was supposed to make
no change whatever in the laW-it Was inere'
" read by its title.
Section 1856 Of the Revised Statutes reads
"Thc silver coins OF the United States shall
be legal tender at their nominal value for
any amount not exceeding five dollars IN
any one payment" -
it doesn't say, as the act Of 1878 did, that
the tradc-dollar merely should be legai
tender for the amount OF tiye dollars, put
the siluer coin, thereby including the DOL
lars Of the fathers, as we'll as the trade-doi-
lar; and in that way-that secret way
without its being known at all, unless 1t was
to some few who were in the secret, there
was taken from the people OF this country
the faculty of using more than 1O0,00O,OOV
in silver in the payment Of their debts; and
that, TOO, in an indebted country, and that,
too, when of all countries in the world we
ought to value silver, because we are tue
greatest silver-producing country III the
world, and just as we value wheat because
we produce so much wheat. And yet that
thing was Struggled through III that way.
Now, I tell you [ am for setting II rlSht
straight back where it was. Laughter anu
appiause.]
It is not unjust. and no man need tell me
il will do Injustice. On the contrary, am
in favor OF setting it back in order to DO
Justice. l say the man who contracted 4
debt: I say the nation that contracted debt,
when, under the law Of the land, the dollar
OF the fathers. Of 1928 grains standard silver,
would pay a dolar'of debt, say that in hon
estv that man ought to be allowed to pay
that debt with that dollar. Therefore shall
vote to put it back. hope we will put 1t
back; and when we do, I think that will be a
great stride toward bringing about rcsump-
ton OF Specie-paymcnt and setting the
finance OF the country upon solid basis;
but whether we do or not, l plant myself
upon the position that this Government
issued its bonds and promised to pay them
in coin, actually specifying silver as one,
and the men who bought the bonds knew
they could be paid either in gold or silver.
The State of Ohio issued her bonds; many
of the cities issued their bonds; counties
and townships issued their bonds; the peo-
pie issued their promissory notes and gave
their bonds; every one Of them had the
right to look at the statutes and say: When
this becomes due I can pay it in silver CON-"
which, from the time Of Washington until
this day has been legal tender [great APP
plusel, and no man and no community shall
be deprived. with my consent, OF that Drlvl-
lege rs Good"]; none at all. ..