Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1877-12-12

rs our intrinsic money. 1t is vexed
question for scientific reasoning and
historical experience to determine
how far and by what methods
practicable equilibrium can be main
tanned, which will keep both metals in
circulation in their appropriate spheres
of common use, as absolute equality
/ Of commercial value, free from disturb
ing fluctuations is hardly attainable,
and without it, an unlimited legal tender
4 for private transactions assigned to both
metals would tend to drive out Of circu-
lation the dearest coinage and disap-
point the principal object proposed by
the legislation in view. | apprehend,
/ therefore, that the two conditions of a
near approach to equality of CONNER
cial values, between the gold and silver
coinage of the same denomination and
of limitation of the amounts for
which the silver coinage is to be legal
! tender, essential to maintaining both in
circulation. If these conditions can be
successfully Observed, the issue from
the mint of silver dollars would afford
material assistance to the community
i in the transition to redeemable paper
money, and would facilitate the resump-
ton of specie payment and its per-
manent establishment, without these
conditions, | fear that only mis-
chief and misfortune would flow
| from coinage of silver dollars with
the quality of unlimited legal tender
| even in private transactions. Any ex-
pectation of temporary ease from. an
! issue of silver coinage to pass as legal
tender at rate materially above its
commercial value, IS | am persuaded,
a delusion; nor can think that there is
any substantial distinction between an
original issue of silver dollars, at NOM
inal value materially above their COM
mercial value, and the restoration Of the
silver dollar, ut a rate which once was,
but has ceased to be commercial
value. Certainly the issue Of our gold
coinage, reduced in weight materially
below its legal tender value, would not
be any the less present debasement of
the coinage, by reason of its equality,
or even exceeding in weight good
coinage, which at some past time had
been commercially useful to the legal
tender value assigned to the new issue
In recommending that the regulation
Of any coinage which may be author
lied by congress. should observe these,
conditions of commercial value and
limited legal tender, | am gov
erend by the feeling that
every possible increase should be
given to the volume of metallic money
which can be kept in circulation and
thereby every possible aid afforded the
people in the process of resuming specie
payments. 1t is the excuse of my con-
viction that a disregard of these condi-
tons would Illustrate the good results
which are desired from the proposed
coinage and embarrass, with new ele-
ment of confusion and uncertainty, the
business Of the country, that l urge up
on your attention these considerations.
| respectfully recommend to congress
that in any regulation providing for a
silver coinage and imparting to it the
quality oflegal tender, there be impress
ed in the measure provision exempt
ing the public debt heretofore issued
and now outstanding, from payment
either of principal or interest in any
coinage of less value than the present
gold coinage of the country.
INK ORGANIZATION OF HE CIVIL SERVICE
of the country has for q number of years
attracted more and more of public atten
ton, SO general has become the opinion
that the methods of admission to it and
the conditions Of remaining in it are
unsound; that both of the great political
parties have agreed in the most explicit
declarations of the necessity Of reform,
and in the most emphatic demands for
it. | have fully considered the declara-
tons and the demands to be the express
sions Of sincere convictions of the intel
ligent masses of the people upon the
subject, and that they should be recog-
nizcd and followed 10y earnest and
prompt action on the part of the legis-
latiye and executive departments
of the government IN pursu-
ance of the purpose indicated.
Before my accession to office / endcay-
orcd to have my own views distinctly
understood, and upon my Inauguration
my accord with the public opinion was
stated in terms believed to be plain
and unambiguous. My experience in
the executive duties has strongly con
tirmcd the belief in the great advant-
age the country would find, in observ-
ing strictly the plan Of the constitution,
which imposes upon the executive the
sole duty and responsibility of the
selection of those federal officers, who
10y law are appointed not elected, and
which in like manner assigns to the
senate the complete right to advise and
consent to or to reject the nominations
so made, whilst the house Of represen-
tatives stands rs the public censor OF /
the performance of official duties with
the prerogatiye of investigation, and