, 1877-08-25

only III. Wtnsor voting tn tho negative.
REMONETIXATION.
TnE sItvEA DOLLAR.
Sp4ctni DlspateA to 7As TffaHnt.
MILWAUKEE, Aug. 3f.-Tha Secretary read
the proposition offered BY The Cincinnati Cham
tcr Of Commerce - fo1iows:
R>sotrsd. That the National nnarl Of Trade, #
view Of the near approach Of thr tmc appointed
for the rn'nmptton Of specs payments. and also IL
ot Yeb IL. isI re.Sre.faiiv reeomrmSs @ gsio IL sht
CnnGfess nf The Enttef Statcs 4 cnn-idcrattnn oi
ths psapt'ety q resstah1i.h.a the .lser d'.r 81
paa&ags OF said act, ~ 4 init Df money value.
NIL 0ANo. oV cFxcfxNATr
sail that hn held very strong ard kcrious con.
vtcttons on this subject. There wis no time re-
corled In the history Of cnmmerre when e[lsrr
was not considered as tho standard OF value. II
was as uetl adapted n zohl for TINT purpese,
anti he WA almost tempted 10 believe that In
tha earliest aets there MAS something Of a
Divine declaration Of lts fitness for usc a. mon-
ey. Now there wern fneD who actually declared
that atver wa* mt suttah1e for u.e aa money a4
ali. and thu wi'nfe question Inns tn he fonght
| ovrr again. Tito legislation unfnyoralto tn It
hxd ber, pushed str.ugb Cougrcas in tho inter.
eats Of tie fnoncy.1 classes. and
ii An isslninu$ WAT.
In 1871 silver WAS dcrnouettxctl It was
singular fact that, within short t!n,o Of Mr.
| ehermah's protn'*stnn That the silver dollar
shouIt, be lcgaa.ten1er for amounts nnt!cr
| sion Cnngrcss thnujl have recommended Tint
the t'ofds should BE- made payable in "cotn."
thst il in 1nld and silver. II has been objected
that silver was too bu,ky, but that objection
lid mot nnw hold for Tic business Of thu com.
Try was conducted by bills OF exchange. III
wantctl those bills Of exchange to be bascll or
l Nr,,jf and .ffr fra,F s3ntt1k $J,& A~ftn III
wante.! uo papcr i1ollars ut nil But wlcu
Tits desirable rcst.l: SHOULD be brought
abt,ut. he eonl'l not nay. liz wanted. however,
tf' sce ln energies OF this Hoar.l tifrectctl 10
warJt its attainment. No tnan could sav *,
| actlT how nl,eh money was needed lor tht bl,tt-
ness Of the country. and Il would bu q qucstIou
for sclentlsta and business mca to consider frum
time tt ttmr.
LIE ugslhEp TO AMEND Tus nrsotrTtoa
by adding tlls words, "tllat It's coinage ie re-
eumcd u the extent Of al leass 3j0,030,00o per
year, and that Il b. made full lcgal-tculcr.''
Thr rcason fq: this vas that the gold
dollar. had proved to be On tnconyc-
| ntcpt coin. That distinguished statesman.
Alexander Hamilton. haa found great
diflrnlty In determining whether gold or silver
SHOULD Ia mada thr standard. ffc decided tIat
no preference ought tu bc given to either, but
held tl'a. gold, as being less variable, might
poasest allght AdsRntagc- But he declared
cmphattral1y that TO attaet the unit Of saluc to
one metal would be to degrade the other to tho
level Ct merchandise aud to lcstrny lts uscful-'
! nca a l.. circulating medium. Tho speaker
quoted from distinguished financial authority,
who hs1d that England or onv other country
could oaly become monomctallic bv rendering
th~ entire world 90. Tho author held that
aoFn1Aa auonF or Eus 4s7oxcAT'oa or
followed hy tho iusoxIcation Of Frankfort,
could hayc hurried Germany Into IN attempt to
deEonettze silver. The apcalser believed 1t to
md ~ Il i roiti wsrs nude TIC ony ca!rcut5 .hcy
wuull 20 through decade after dcea.ic OF rom
| mcrrlal depression. Englan1's policy Of auanesj
W. selfish ons' md tne ADOPTION of tho gold
ya2sal to England. Etve them tho right to cu!.a-
silver. even II nouo was crer colucsi: The Amer
lean people had been insrftcd by. fhn tlen,one-
effect had been sn,ngEls, through Congress,
The speaker favored tho Chicago proposition,
but did noi want u lose dav.
| 8iR IsAAc NEwTnN
had settled tue guestio, nj silver currency In
his DAY when, rs Mnstes OF the Silnt, be tstued
silver IN grcnt quantity, the result OF which was
thu. gold a1nl s!lyor zapdlv upproxinlatea ta
value, allh the louh}e atAnt!anl was restored
surely thu opinion Of suel' . man, respected b.
the whole world for ha scientific atta!araetts,
was worthy Of respect.. On the question ot
policy there Waa something y ~ sal'!. Thu
free - to admit Of Imitation. He waa
sorrY TO he looked upun BY ME. Rope.
and other gentlemen ~ vi iu1atsonfkt. a'h
| denied the soft Impeachment M one roull
tell what mineral wtAjtl, might bu hidden In
| tho kutchtx anil Inoaltaln-t0ps ot
THE BLACK lllLts.
nnd thousands Ut rA.u wcrc there scaking tat
gold. Could anv gentleman 1ec1Are that the
, dav m!pht not come whcit Eo3sl would bc mora
plentiful thsu silscri ln auch case, they
would have TO rail- ecentIsts together asaiu =,
determine values. tbs selence Of tsuance do
I nt4t,.lc4l tho rcmonetizatlon u silver. They
should mako tbs pendulum OF tiusneu llse thu
pendulum Of clock. OF two metals. onn which
could expand and tbs other I cent'ust, thereby
AM- wsxsoa
salt that IN 1Hg America lad collage coasist-
Ing ot gold md s'l,sr IN the average proportion.
went out Of tho country. consrrss pasesA q
| law changing ths standAn! To ii ta !, and this
rousse drove Ill tho gold out Of the countTy.
The Iseo!a.ke Of silver Il shI. t!'ne a. snY s.to
!tAhly lead to ons or thr other gvll,R out Of tho
country. The ratio estahlsss'c,a ~ the Latin
Union WA l''s to l. 4 man cou'd With 0ttect.
sn.l ; half ounce. Of silver buy one ounce oi
gold In France. could taxa hIs guild to England,
and there buy seventeen ounces of silver With
, 4. The consequence ~n that Franoo wAa
, drained Of Gold.
, lead. an., other ,acfafs. Trus. silver vas tho
no<t ancient Ut ths precious metals, but ahers.
T | weEs many athur sneitut lhtnsa which tt you'd
srarrcly pay to reintroiuer. The aneteus plov
aud bulosk-eart would scarcely a.tce with thu
. prugfess Ut civilization. Originally tilser ~
Z tho currrnt money snd prices dt$sease1:
I The discoveries at guild IN Me1kN aud
{ Peru wrrs \ great gain tu tho debtot
t | tlast+ pr whAl the Crntleman callcti
: tho ). borrowing class, Prizes wcEu cnhsncesl
. greatly, and thots who had bought Oh credit r.,
|. cclYea the beuAft. is thc bussncs3 OF tho world
Increased 1t be<ae AerrAsarv IL hare al extesAu'
u | II valuable t,eiiun Vi exchange. easily trans,
) fc.rs4 and. being *sanr aad l'anl u ohsatn uoi
I 1lat'ls tu Buot otuatsuuk to auy :tr4s sxtent. II
I bad beeu AAstrled shat co.t llal Eoue Oh ~
prs,ttatiny and that this VA misfortune 10 The
debtor clas., lie held that low p1ise. xsFs .
/. ! heurnt to the peupie u iaxgc, uoia hat
/ lxsu proved ii h.. Nv the experience
) OF many years, tho best stanaxrl "
U | value alAl the I<ast sublcxt 10 fluctuations
During The E4n,r 1vstN, oslux to peculiar cir
: eulus.auecs, silver had undergone sAauy elanges
III yal.,s. Ii VA a.npo<siois for any one natiol