Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-11-17

The Propositions OF the
Pacific Roads.
LITTLE PROSPECT OF THEIR &C
cEPTARcE BY CONGRESS.
GARFIELD ON THE AnTLREsuMP.
TON SCHEME.
Proposed Revision OF Tariff and
Rcvenue Laws.
The Army Appropriation
Bill Passed.
The Most Logical Speech Yet
Delivered.
THE PROPOSITION TO REDUCE
VOTED DOWN.
ESPECIAL DrsrArcurs To rHs ooLp HnI
DA IL Naval
THE PROPOSITION TO REDUCE
VOTED DOWN.

ESPECIAL DI.rArcuEs To rHs ooLD Hul
pAL II Naval
GARFIELD on she AnN.Resumptieu
Biil.
WASHINGTON. Nov. l7.-In the House
yesterday. tho bill to repeal the date Of
resumption being under consideration,
Garfield said this was . we'll discussed
topic. Its features were old. lie appealed
10 tho general Judgment Of mankind on
the question Of currency. In 1850 there
was general prosperity. and then II was
tho best settled Of all questions that tho
only safe and Trustworthy standard OF
value was coin Of ascsrtained weight and
hneness. or paper currency convertible
into coin at tho holders will. That was
then, and had been for o long time.
the unanimous opinion OF the Amer
lean people. Here and there, there
had been dreamsrs who looked upon
paper money ~ the fetish Of their idolatry.
but tho dreamers were then so few In num-
Der that they made no ripple on the cur
rent Of public thought aud formed no part
Of public opinion. That opinion was then
the aggregate result Of the opinions OF the
foremost Americans who ever thought and
wrote on tho subject. No man had ever
sat In tho Presidential chair and left on
record any word ON the subject which
spoke Of safety In finance except In coin
or paper convertible into coin. No man
ever sat In tho chair Of the Secretary OF
the Treasury and spoke at all on tho sub
Iect who had not left on record an opinion
equally strong. from Hamilton down TO
the father Of his distinguished colleague
(Ewiug). and down TO the present day. II
seemed 10 him the general judgment Of all
who deserved to be called leaders OF tho
American people ought to DO considered
worth something In an American House OF
Representatives In the discussion OF .
great topic like this. What happened 70
produce this change from the general level
VI public opinion In 1861? Every man
know the history Of the war. Tho over.
mastering necessities Of that war had led
the men Of 1861 TO depart from the doc
trins Of the fathers, but they had not dc.
parted from II IS . matter Of sentiment.
but rs 4 matter Of urgent and overwhelm-
ing necessity. All who voted for
the ~greenback law In the House and
Senate hal done NO under protest, and
with the declaration that at the earliest
possible moment the country should DO
brought back TO the old, safe established
doctrine Of the fathers. Like the compan-
ions Of Ulysses. they had dashed them
,s.w orh.rIoJ an The s,ormy and hazard.
m. az. ~ nsnsr nancy. an that they might
nv, hs bsgpiicJ Law The syrcn n which
micbt I've ann 10 Them when they wcro on
tbe wild waves. put times were changed /;
nav men were on deck. Only twelve years
had passed since the House. with only six
dissenting votes. resolved TO stand again
by the old ways and 10 bring the country
back 10 sound money, and now what was
found-a group Of school men and doctrln-
aires 1.-THE latter unknown twelve years agol
were found In favor Of what they called
absolute money. declaring that . piece OF
paper stamped 90 u dollar" was q dollar,
that gold and silver were = part OF tho bar
barism OF the past which ought forever 70
DO abandoned, that resumption snoulu
never take place aud Thai eras OF prosper
ty were paper eras. Coming back 70 the
prosperous era OF 1850. he asserted that
although banking was free there was D
s207, Ooo, 1000 Of paper money In circulation
and above $500, 900 900 In coin. HOW
much was In circulation today Seven
hundred and twenty.seven million dollars
In greenbacks. fractional currency and
fractional silver. q about n ane mi million
dollars In copper, IN All s~.So,ooo'vvo o,'
elusive OF The gold eireuiahon On sno ~, ',
cific coast. He put u 70 tno udgmeh. VI
the house whether II, IN looo, unu eao liz aSo
banking. with no re~strichons, s~ioI,VVo,Vvo
was the limit oil the possible currency IN
circulation, almost twico that amouns was
needed, u hardly enough IN Io..l :.
had been assumed that specie payments
rould inJpre the dep,os e'ass' nnd Sv ,Ss,
therefore help tne r,en' mc uen,ea u .ns
/ Ht'lNesfS