Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1877-12-19
OF the remarks Of Senator Allison 10

t0f the remarks OF Senator Allison In
the silver discussion Of the SsnAtcs
Mr.. Allison raid hcregretted ex-
ceedingly that the Senator from Ohio
(Aathews) had thought proper to an
tagonize his resolution to what he
conceived to be the main question be-
fore the Senate, namely, what shall be
done with silverp Unless silver
should take its place q as money the
bonds of the United States must
be paid in gold. All the arguments
thus far against the resolution Of the,
Senator from Ohio were based upon
the idea that it was the intention of
the Senate aud the country to pay
bonds in coin of less value intrinsic
ally than gold coin. The argument
of the Senator from Delaware bay
ard) was based wholly upon the idea
that if we restored the silver dollar
of 4l2k grains, it would not be equal
in value to geld coin now in circnla-
ton. The Senator (Bayard) asked
the question whether there was any
place in the world where 4l2k grains
Of silver were worth % $40 grains of
gold. He (Allison) could point to Q
place where 400 grains of standard sil-
yer were equal to rs $40 grains of
standard gold. That place was the
Bank Of France. The standard of
silver now proposed here was a
standard of l6 to l.
| He favored such legislation az
would place the two metals practic.
ally at par with each other on some
sure basis. As to the obligation Of
the government TO pay its bonds in
gold, that depended in agreat meas
ure upon what should be the coin Of
, the country at the maturity of tn,
: bonds, but in the mean time govern
ment had interest to pay upon them
! and it should be paid with the money
9 contemplated in the contract whel
t the bonds were issued. He argued
r that silver was money of account
: and unit of value under the law o
t 1892. Was not the great debt incurr
v ed on account of the war with Grea
Britain of 1912 paid in silver? Silve
n was o money of accounts in all trans
! actions of the government as we'll q
As far as the law wa
n concerned the purchasers of on
# bonds understood that they wer
l. payable in either gold or silver coin
J. He (Allison) believed the countr,
could go on coming silver for year
to come at the rate of $5O, O0O, OOOa yea
j. without disturbing at all the relation
]. between silver and gold. He believ
ed that, with proper limitations an,
: RECOMMENDATION of the silver dollar
u silver could be maintained at pa
70 with gold at the ratio of 15k to L.
d The reconciliation of the silver dol
n lar. with proper restrictions, woul
have the effect of making silver equs
y to gold Who were those who di
l. not believe to-day that if gold shout
be demonetized by all nations,
would fall in value, and should al
nations demonetizc silver it would, d.
" crease in value more than now even
.. The value of these two metals as MOI
ey depended on their use as SUCH
le He represented q state as loyal to tn
n. credit of this nation as any state ]
Is the union. The people of Iowa il
- tended that the obligations of ii
government should be fulfilled to Il
10 letter of the law; that there shoul
be no reputation but It would N
e. do to say that the section of this cou1
ID try that proposed to remonetize 81
80 yer proposed to violate national hol