Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1877-11-28

bonded with the clearest and fnlIes
understanding that it was to b
paid in gold and silver, the money o
the Constitution. There could no
have been any other reasonable un'
derstanding. Well this ran along il
this way, and besides was affirmed in
the meantime by an act of Congress
in 1869 SO, declaring, in order Ia
strengthen the public credit. In 1873
by clanGlestine, or at least through
obscure legislation, the coinage of sill
yer dollars was stopped. In rs Ger
many commenced her plan Of demon.
eAizing silver. The act of '73 and fur.
theE subsequent legislation, degraded
silver in this country. 1t confined it,
use among us to the channels of com.
lnerce, rs we use iron. 1t was rele-
gated into spoons, watches, door
plates &c sc. This was the degra-
dation Of silver we speak of. Now
after having kicked silver, as it were,
into the ditch, we ask is it just, is 1t
honorable, to insist that the present
value of silver, under such circum-
stances, shall be taken as the true val
ne? We answer that no honorable
man can say that it is just. Re-clothe
silver with the legal tender habili-
ments which is its due-place it where
it stood when the nation's.obligations
were made and when so lifted from
its degraded position, let FITS value be
determined.
1t is the opinion of we'll informed
men, of honest and able statesmen,
men Of great experience, that such an
elevation of silver will bring it up to
about an equality with gold. At all
events the most memorable rule of jus.
tice to all concerned demands that sill
YER should first be restored to its lie.
gal tender statns before it's value be
determined. Under the terms of the
silver bill now pending, there could
not be over $24, 600, 600 of silver coin
ed in six months, and probably there
would not be over $l5,O00,0O0 coined
in that time. Still the re-cloth.
ing of silver with its legaI
tender quality for that space of time
would probably determine its true
value, and then Congress could, BY
Legislation, re-adjust, if necessary
the relative value between the metals
If there was much difference betweet
the gold and silver coins ON the ole
basis ofl6 ounces OF silver to one o
gold, then Of course. a re-djustmen
would be just and imperative. Nov
very briefly let us look at the othe
side of the question, viz: the gold O.
single standard side of the case.
| 1t has always been accounted SAT
rule to only issue of paper three dol
lars to one Of specie when such pape
( Is liable at any time to be presente,
Tor redemption. Now assume, 70
convenience, that upon the relativ'
value of l6 ounces to one. the tw,
metals, gold and silver, are abou
equal. II, then, we discard silver 4
. money factor c: the country. on,
half the basis of all paper money /
destroyed and the coin and the cur
rency are reduced one.half. Thi
would have the effect then of decrea
ing one-half the purchasing medium
and this would, Of necessity, redu'
!. one-half, the price of everything.
would reduce the pay of the laborel
one-half, upon the basis we have q
sumed.
Il Again, il would double the intrins
! value of ell evidences of debt. We al
clear that any attempt to produe
such result or anything like it, wi
i hurl from power any set Of men VIII
\ attempt it, and we must say such
punishment would be e.ninently Jus