The Jasper weekly courier., 1877-12-14

Them a. a repudiation Of the full obligation
Assuming that the bonds issued prior /
ie.5 were issued At time when the gol
dollar was the only coin In circulation q
contemplated by either Tie Government .
the holders OF the bonds as the coin wit
which they were 10 be paid, II l. far bette
~ pay these bonds Ia that coin than to see
y take advantage of the Unforeseen fal
OF silver bullion by new issue Of silye
coin 20 much less valuable. The power o
the United States 10 coin money aud regi
late the value thereof ought never 70 be ex
ercised for the purpose Of enabling the q oy
ernment 70 pay It's obligation la a coin y
less value than that contemplated by Ia,
parties when the bonds were issued. An,
attempt 70 pay the national Indebtedness ii
acoinage Of less commercial value than thu
money Of the world, would involve viola.
tion of the public faith and work irrepara.
BILE injury 20 the public credit. II was IN,
great merit Of the act of March, 1863. In
strengthening the public credit. tha,
u removed all doubts A. to the pur-
pose Of the United states 10 pav Their
bonded debt In coin. That act was accepted
a. pledge OF public faith. The Govern
ment has derived great benefit from II in
the progress thus far made In refunding the
public debt Al low rates Of interest. and
hence wise and just policy Of an exact
observance Of the public faith. will enable
the Government 70 rapidly reduce the bur-
den of interest on the National debt TO an
amount not exceeding >3O,UO.OnD per an
mum, ana elect an aggregate saving 10 the
United states OF more than 500 $4,000. be-
fore the bonds can be fully paid. In adapt
ing The new silver coinage 10 the or.
dinary uses Of currency in the
everyday transactions OF life, and
preserving the quality Of legal tender 10 be
assigned y, consideration u the first inn
portance should be 10 30 adjust the ratio be-
tween the silver and the gold coinage, which
now constitute our specie currency. a. 70 ac-
the desired end 0f maintaining the
circulation of the two metallic currencies
and Keeping up The volume Of the two pre-
cioti> metals A. our intrinsic money. IL j.
mixed question for scientific reasoning and
historical experience, 10 determine how or
~ what methods practicable eauilibrsIm
can paintained, which will keep both
metals IN circulation in their appropriate
spheres OF common use. An absolute eanal-
iyof commercial value, free from disturbing
Duc;uation>- i hardly attainable. and with
1uf u an unlimited legal tender for private
transactions assigned 20 both metals would
end 70 drive out of circulation the dearest
coinage, and di~app0ini the principal object
by the legislation inslew. Iappre-
lend. therefore. that the two conditions of
hear approach 70 equality or commercial val
AZ between the gold and silver coinage Of the
'aine denomination, and of Limitation N
amounts Tor which the silver coinage il 10 be
! legal tender, are essential 70 maintaining
10Th IN circulation II these conditions can
q successfully observed. the issue from the
mint of silver dollars would afford material
assistance 10 the community ia transition 10
edecmable paper money, and would facili-
ate ~ permanent establishment. Without
hese conditions. fear that only mis-
lief and misfortune would follow from A
oinage ~ silver dollars with the quality
4 unlimited legal tender. Even in private
any expectation of Temporary
a-e from an issue Of silver coinage 70 pas a.
legal tender AZ a rate materially above its
ommcrcial value j., am persuaded, a delI.
lon- Nor can think there j. any suh>tan-
al distinction between an original issue of
liver dollars AZ nominal value materially
bose their commercial value. and the res
orafion 81 the silver dollar at rate which
nee was, btlf ha- ceased TO be. it, CONNER
I'll value. Certainly the issue N 4 gold
oinage. reduced IN weight materially be-
~ ~ legal-tendcr value. would not be anv
NJ les present debasemcnt ~ the coinage
y reason of it, equality, or even exceeding
! weight good coinage. which Al some
al time had been commercially equal
the lega-tcndcr value assigned 10
le new issue. In recommending that the
equation of any silver coinage which may
E authorized by Congress should observe
ie~e conditions of commercial value and
ZNNtTURu
Y the feeling that every pos
bic increase should be- given 10 the
,umc 0f metallic money which can be
ept IN circulation. and thereby every poS-i-
Z aid afforded 20 the people in the process
securing specie payments. II l. because
my convictions that a discharge of those
,ndifions would frustrate the good results
hich are desired from the proposed coin
q. and emharras~ with new elements Of
infusion and uncertainty the business OF
e country. that urge upon your attention
e~e considerations. | respectfully rec
nmend 70 Congress that ia any leg
ation providing for silver COIN |
'e and imparting 70 il the quality of :
.ai tender, there be impressed on the
ea>ure iirm provision exempting public
'bts heretofore issued and now outsfand- ,
: from payment either of principal Or in
rest IN any coinage Of less value than the ,
e-ent gold coinage Of the country.
CIVIL SERVICE.
The organization ofthe Civil Service Of the I
untry has for number Of wears attracted !
pre and more of public attention. 80 gem 1
a has become the opinion hat the methods \
admission 70 II aud the conditions OF re- n
inning ~ u are unSonnd, that both the I
rat political parties have agreed in most 4
plicit declarations of the necessity ~ re- 4
m, and IN the most emphatic demands for Y
l have fully considered the dccla- Il
ions and demands TO be expressions Il
the sincere conviction Of the in Il
lgrnt masses of the people upon the sub Il
\, aud that they should he recognized and
lowed w earnest and prompt action Oh Il
paft 81 the Legislative and Executive q
pariments of the Goycrnment In pursu- Ii
n n the purpose Indicated. Before nv Il
'r~~ipn 10 Office cndcayored to have my Y.
a views distinctly understood. and upon
inauguration, my accord with the public n
mon was stated in terms believed 10 10 X
40 and unamhiguous. Nv experience fn II
executive duties has strongly confirmed
nrllel ~ the great advantage
country would lind IN oi,~pr,inr sfrIrrlv N
pian of The Constitution. which imposes 4
pa the Executive the sole duty ana re- N
nSihiilly of the selection ~ those n
leral officers who ~ law are appointed. ~
elected. and which Ia lfl. 49,. 49, Nv