The New York herald., 1877-12-11

They were the consevvators OF II. The President OF
the Ucicd States could only speak for the people IN
stituton- When he tMaIsnews) heard the talk that
was tho expectation OF tho purchaser OF tho bonds
that because he paid gold for them must receive
gold. no asked who had given out such expectation
" here haa Vie people spoken, through what chan
nsL through what seoncys Let the record be pro.
dnced. There were considerable Of another nature
which invited discussion. and into which perhaps tho
Senate ought 10 20. iuto witch perhaps ssAse who
60. but he would only briefly ssfsr 90 stncrL IL had
bean snad shas silver had deprccaled N value. dow
wa. was the loss measured " soids Why mol say gold
Mr EAros. tdem.l OF conn--Has not silver de:re.
Xr. MArTuxws~I snswer sver cam 10 day ,uv NOR.
Of every known product OF labor than could IN July
1870 Here "a Asia nowhere in the world has siivor
deprecatod the breadth OF hair. on the contrary, II
has maintained ITS position II today buy more
land. more houses, more calico, moro anything than
Mr. EATON said no agreed with the Senator that Il
could 10 America. but II could not aoroad
~ Nr. nATrhkws--m nat have We to do with abroad
what have we 10 do with tho inquiry whether lands
and houses abroad have appreciated value or not!
Who Is tners who does not know from actual personal
observation sha thing has gone down. aud that
gold alone mas gone up, Nothing could prevent per.
sons from seen: that but the blindness OF those VINO
hsve joinea IN sne conspiracy 10 exAh gold as the
MI. Epnusps, treDJ Of w. said, taking tho remarks
OF The senator 10 bc true about silver gold why
would not his philosophy apply as VOL TO copper aud
godf
MI MATThEws--Wo did not agree to pay IN copper.
Mr. EpMUSps then asked II The Senator IRON Ohio
was quite sure gold had appreciated, and II the price
OF. silks IN France In gold was high dvo years
AGO.
Mr.. Matthew's resumng his argument. said he had
the testimony Of his own personal experience, the
testimony OF tho list o bankruptcies throughout the
country and testimony OF tho lis, OF sherns sAlos TO
tho effect that everything but gold haa
precalcd IN value; what else meant all this
cry OF discomfort. WHAT else meant all this murmur OF
dissatisfaction? Tho distress OF the country
beyond all historical comparison IN country, AMI
q 10 hps
wheel TO throw the great mass OF our people into
bankruptcy.
In conclusion Mr. Matthews argued that II this ap-
probation OF gold should continue the best investment
possible would be to lock 1t up and await its apprec
alton.
SPEECH OF MIR. MORRILL,.
Mr MORRILL,, trep) of Vt. said II the senator from
Ohio had inroducod this resolution and asked its
reference 10 tho Committee on the Judiciary ne
mght have un icrstood his purpose The question
raised by hts resolution legal one and whenever
tho man question came up as 10 the remon
OF silver he (Mr MorrilD would be prepared TO ex.
press his views upon H. and ho hoped 30 DO able TO
show that II would be cheaper aud bettor for tho
Senator from Ohio (Mr Matshews) bad set
out with Tho declaration that we had the
silver. Il must 10 known to that senator that for
forty years tho country had coined silver dollars
except for expectation, aud only small amount for
that purpose. During all this timc tho govern
ment had been In receipt OF gold from customs duics,
every dollar OF which was pledged tor tho payment OF
Tho puoiic debt Gould It he possible now that Con-
grcss could LAY debt SO contracted could be paid in
anything but godY He quoted from Tho oct
OF February 25 1862. TO establish tho sinking
carried out tho whole debt OF tho government woud
DO paid IN very short time. II did seem to him that
tho pubic aitE had been pledged 10 pay the bonds In
gold coin Our Secretaries Of tho Treasury had gwen
such pledges, and their acts have never been repud
fourteenth amendment to tho Constitution OF tho
United States in regard to the validity Of Tho public
to to- prevsn. .hoss from the southern States
questioning It's validity and not 10 light the
heres,es Of OHIO. Now, in this time Of
been rebaptzei IN patriotism, nc appealed 10 thom
reject tho proposition OF the senator from Ohio
There were various other points OF that Senator's
speech 20 which he would like to refer had be tho
time TO DO So but one point IN particular ho could
looking up money In order TO gam thereby. Did he
not know that there had never been timc
10 tho history OF the government whom money
interest. He moved tho reference oil the resolu-
tion 10 the Committee on the Judiciary.
Mr.. CoxKLSG said ne wished 10 submit an amend
ment before ITS rcfcrcuce and that was to strike ous
tho words, ''Bc Il resolved by the senate uhe House
Of Representatives concurring thercin" and insert
lieu thereof The words, "Resolvcd by tho Senate and
House OF Representatives He said his purpose was
TO make II joint resolution instead of u concurrent
resolution, SO that II II were adopted, would go TO
the Presidcnt for his signature. Tho national Exscu-
tive had deposited with him onc-sixth oil the legisa-
he tnouEht there should DO expression OF the tui
legislative power.
NJ. TpussAx, ldsm.) Of Ohio, argued that waa
declare ITS opinion as TO what tho law OF the land
and was perfectly eompe,en for the two houses OF
Congress TO do SO ny concurrent resolution, and II
Congress entertained opinion 70 existing state
OF the law that opinion should not be nullincd by
veto Of me President He wanted everybody 70 un.
might act as he saw iii hoarnfter but he did not ask
the President Tor his opinion now. Tho resolution
submitted by his colleague tMr. Matthews)
raiscd simple question OF law. Tncro no
COSTLY for referring II to q committee. There was
nothing upon the subject but one or two statutes and
O n
debate In the Senate ono hour. He was marvelousiy
curious TO know by what reason any lawyer could ar
rive at any other conclusion than that expressed
tho resolution OF his colleague
Mr. EDnUSDs sad the question with him at tho pres
cnt nom snt was. What would bo the effect Of the
ago OF this resolution upon the public crcdy IL pro-
posed TO declare tho opinion OF tho houses Of Con-
sress not as law, and what ehec. would that have
candid, II Congress was 10 say anything affecting tho
public credit that IL should DO dono by law
In manner that would DO binding horeaftcrf :
Such resolution this would do nothing effective.
II would not njure The rich bondboder Tho bloated
ondnoldor gene rally able to take care OF himself
but IL would injurc tho widow the orphan toe labor
ing casses VINO had invested tho money Ia govern
ment bonds and enable spectators and gamblers TO
gamble on tho public credit. He favored tho amend.
ment OF the Senator from New York
Mr.. THURxAH said he had been nirs years n
tho Senate. and " tbero had been any nnan.
cal legislation for tho bcneHt OF tho widow and
phan laborlng classes he had tailed 20 It. Tho
Senator from Vermont warned the senate that tors
resolution would endnnger the publ credit Sinco tho
Senator spoke he tMr Thurman) had opened his Now
York paper.
Mr EDnuxDs--Wbat Ia tho namc OF the paperf,
Mr.. 1uuRMAr-lt IS tho New YorE World, which
know the Senator from Vermont reads daily with in
tense admiration. tLaughtcr) Continuing hts re.
marks he said the Senate last week ade tho Silvor
bill the special order for Tomorrow and he saw when
he opened his paper that gold was onc-sixtecnth
lower Tor the week. He turned then TO govern ent
stocks and he found that every bond of tho United
states had risen IN value tnat bill made tho
special order.
Mr. MoKnnL-How much has silver fallen since tho
Bland bill passed.
Mr. THURMAN rcpcd-You have dom oncfized silver.
II Is not quoted The Senator assumed tnat gold
immcnsurabIe standard Of vavc with which evcry-
thing cso must be compared. There never had bccn
In his humble Judgment OF all the humbugs hc over
know of moro Of hambug than about hts silver
bill.
Mr.. EDnrNDs-T think SO too. (I.aughtoE)
Mr. THURMAN, continuing. said there was one class
Of people who thought IL the bill should pass all thcy
would have TO do would bo 70 hold up thor hats aud
silver dollars would rain into them; and shcre
anothor class who thought tho public credit would be
ruined by IT. There reason for any such sup
position. Any such idea was falIac,ous. he COM
moned tho report Of tho Secretary OF the T.cae-
ury in regard TO tho demonstration Of silvcr,
ana argued that u would not be on
No. hua ~n~Aa n