, 1877-11-25

LIE EGfEA1 CE 4hL 1At41 I4l,4L.
Tie vote in the House Of Representatives
on the passage of the bill to repeal SO much
of the Resumption net as directs the rcdemp-
ton Of the greenback5 on demand III coin
OH and after Jan. l, 1870, showed but q small
majority in favor OF the bill. The vote was
yeGs, l33 nays, 120. and 81 dodgers This
minority in The House, Eeirg small, would
iudicatc that the bill will have no chance
Of passing in the Senate. This result may,
however, be largely affected by circumstances
as they occur within the next few months.
. IN the first place, Congress will remain in
cohtiauou5 session until next June. 1t that
date there will still be six months of time
intervening before the datc Of resumption.
The probabilities Of obtaining supply Of
coin with which to redeem will, by tnet
time, be more definitely established: and for
this reason many members who have no faith
in the assurances of the Secretary Of the
Treasury were willing to postpone action
for the present But Il great consideration
coyfrnng many members on this subject Was
tb1 prospect of remonetizing silver, and Civ
he the country the benefit thereof in the way
OF resumption. The free coinage Of silver
would bring to The mint q large supply Of
silver. far in excess Of tie capacity Of the
mint to coin into dollars. but the silver in
coin and in bnrs would nevertheless be on
hand. aad certificates of the deposit of these
bars in the mint to be coined would have
| the same y:lue rs tho coin itself.
| With the whole sum of silver
on hand, coined or On deposit waiting 10 be
/ coined, and all available to meet coin obiica-
tions, whether Of the Government or Of the
panis, the difficulty Of rcdeeming greenbacks
in coin will be obyiated. Silver and
greenbncks will be equivalent, and rcsu1n,,-
ton will have taken place Us matter Of
course. That Silver bill is yet pending in
| tie Senate, but with prospect Of passing by
decided majority. 1t is not yet law, and
the strongest efforts will be made to dcleat
the bill, even after it shall have passed both
| Hcuses Of Congress. If the Silver bill shall
bo vetoed. aud the Government shall in-
| slst upon attempting to redeem in january,
1879, III Gold and force the country to adopt
m exclusive gold currency, as demanded by
the ShylocIs, then NJ appeal to the country
at the election of Representatives next
November may determine a,thoritatiyely botl,
the question of gold resumption and silver
reconciliation.
The Wall street ShylccIs are forcing mat
| tcrs to direct issue with the peeople. If
they snail i'll any way procure the defeat of
silver reconciliation, then they must take
the consequences 10 defeat that measure
is to put the country at defiance It is to
challenge the people to do their worst, and
ut the election next fall for Congressman
and for State Legislatures which arc to elect
Senators, there will be q popular unaniality
such as has not been witnessed since the
country rose en- n.asse to vote men and money
for the War. Afr. B1AsD's speech WIS not all
an idle threat. It Was fair notice that, in
conflict between the people and the .Shyloc1s,
the hitter may congratulate themselves if tho
reconciliation Of silver and the repeal of
resumption in gold be all that will be on-
forced By the popular will =
The Resumption law, with silver ren,on-
et1zed and flowing to the 1nints in quantities
exceeding the coinage capacity of those es-
adjustments, is one thing but the Resump
ton law, with silver demonetizedc cnd payment
OF all debts public and private in dear gold,
is quite another thing, While Represents
tive in Congress might be willing to tolerate
the Resumption law with silver restored rs
legal-tender, md the nnints employed in
coming Silver dollars, the same Representa-