, 1877-11-17

MuscArixE, a., Noy. 15.-1 hare been read
Ing an article In THE Tribune Of Tuesday last,
headed ''Tllo Nation and tho !Shyoeks." 1t says,
lit was not to be expected tint tho prres Of
New York, representing tho Wall-strcct Shy
foekt, should regard with favor tho scmoncttza-
t!on Of silver as lcgal-tcndcr." Not repre-.
scntlng the Shytocks OF New York, or the Molly
MaxuIrcs of any other place, cndcayor to look
at these questions with some degree Ok
candor; not with the cyo Of politician,
It Is true, but at tho plain facts
Of the ease. Calling persons !slqtoeis
or Mn,iy.Siaguircs amounts to yery little, cx.
ccpt with tho ignorant; and mcn rarely resort
to calling nasncs until all argument falls them,
or wlcro they wish 10 appt ul to the tgnoransa
and prcjultccs OF t',cir rcade1s.
The plain statement Of this case seems to 10
this: The bonds were issucd by The Govern.
,ucnt at q time when both gold and silver coin
wcre lcHul.tcndcr, aud wcro Of equal value In
buying, selling, or paying debts; but III 1S71 a
law was enacted demonctizlnR silver, and by so
doing reduced Its value. This was the tho de-
ltberate act OF the debtor, who aOne had power
to enact law having this effect. Tho creditor
had no power oyer tho matter, and, therefore,
cannot be hcld responsible for ita consequences.
At this time, when silver eau be lad at
low price, III consequence Of tho debtors act-
you prnposu to have 1t remonctlzcd for The pur"
pose OF paying tho debts OF tho country and III.
lividuals at rs ccnts Oh the dollar, unlcas you
put Into tic silver L0llnr dollars worth VI
silver, Il looks iiks tLts: The o9ycrnmcn,, b..
amount, tile creditors taktuG lis paper i. tuol
| faittl; hut The ucbtur, wishing tU repudalr
portion Of Its debt, takes thEa method to d" II.
Of silver that made tho coined dollar worth .
dollar; and now you want to pay its debts with
Tint deprecated silver. Perhaps THE TnlHGSa
can rec tho hunesty Of such all net, but IL Is nat
:s S,sfve, visible to oess ss ''s 70 Of lin in ""sss ss
eetor. ' no fai's "a sec tho pronrtety oi Tns
rRnySE applying its slnra 10 thoss .'e.,t. men o.
New York mud elsema,ero who arc TUG cre,!asots'
when they object 10 beug forced , e take "
cents on tho dollar Us payment iu full.
10 not know Or care what tho Nuflon SAYS
on this subject. Neither TRIBUNE nor -fdi'o"
ran make ons hair black or white Ia ttls mailer
Iloneat dealing between man aud man, aud Ie. r.
tween tho country and Its rretlftora' eail ~ ~
the question what tho Government got lor
its bonds, u was of aee, and OF good IN Mnde,.
cctyctl,-ull L. valued tho paper wortt. No ons
eau dispute tls without accusing itof STUPIDITY,
which, thc lrlends Of tho iorcTn.Acnt should 10
assumed tn uo. All tlis nonsense md wtulns
u 1ns 'rM'nuAz about getting y tuat etlslsa. ,'a
lent fur tlu u0ystulncnt bOt"ls IL simply bah,'
jsl uuu dues not ut ua cnahlIort will the d!..
nifty If tls arst a,ut beat }Mixr III .e roftafrE"
Nur docs II make The tcast litfercncc whcthtf
the crclEtu1s lent IL solid gold Of solid fron, u
zs It acknowledged At the time tho paper w.
isaued, tEc 1oyernMcEt received tllt suItI value
0l it, paper; II makes no ODDS what It was u.
N1w let lilo Government enact law that lha
creditors shall Lake the silver, worth only y
erts 0n lfte dollar, for their bon1s or pay on'y
that amount, no nattGr wlictor III gold. silver,
or greeuburks; IL Is simnly regulating pet
cent vi the nlebtelneka Of the country, aud 20
iar dishonest; anI u is ouy less dishonest ts,an
rsp!tdiata tle whols, n proportion TO- 20, "e ~
lis Legitimate work, would Tepudlato all iudebs'
cdhcss.
The unly honest way 1T whicl, silver cat, 10
Iemoncilzcd i " put 100 cents worth of u lhto
q dollar. Which II done, Lhcn tue question resls
on tue cxpcsllcnry Of having two different
uletats as standards OF yallc, Instead Of Que.
JOHN UNpERWO0D.