New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-08

The German Government in bonds, with view, !.
was understood, OF holding them "a a CON lesciso i
drawn gold from rs to aid establishing thclr gn'
standard at home. Thus, b. GDo move tue oo he
Government destroyed far as lay in Us power, ,ne
then existing value of silver money, enhaneeu co y,
quently the value of gold, ana theh Sot me- aoJ which
drw gold from liz a. the moment OF their mr.,
would ALA be the moment OF our own sore usti.
do not say that the German GoyernrIh, nnt prr
feet ,ht w. do but % say that the subjects OF that E
pirp iave no right to complain Oh on, % 80 no If
our stando., coins And the German 'oyeranent; py
ilinng VIII; the DECENTRALIZATION Oh % r. a. ea s
Ihat sfond rd coin in Old position ana MAKE IL as
'' ~, Gnyrrnmeit TO pay and profitable tor their
subjects to receive the one metal 's 'he ot"'''
DOLLAR OF l25 GRAINS.
t,;,b,,when we pIedyed the public creditor In 1870
that our obligations should he paid IN the standard com
Of that date silver bullion worth in the Lohdoh
market fraction 60 pence per ounce us a'er's
for the past eight months has been about 81 PENCE m
price reckoned in gold in both cases But the large u
ference due partly to the rise IN gold rs wen f'o Tue
fall in silver Allowing for both these causes anu
striking the difference 1t will be found in the Judgment
OF many Of the wlsest In this country. perfectly
safe TO issue dollar of 42j grains standard silver: as
one that anticipating the full and legitimate influence
of demonstration, Will equate Itself win ne god u9
lar and efectnaly guard against the dram OF our goI
during the time necessary for International conference
in regard to the general rcesiablishinent OF silver
as money. And when that general establishment
shall be effected with a coinage of fewer grains.
the dollar which am now advocating VIII not causc
loss or embarrassment 10 any one The miner OF the
ore the owner of the bullion, the holder OF Tile CON- ana
the Government that issues IT, will all in turn be bene-
flied twill yield profit on reconage, and VIII be
advIntageolsy employed in commercial relations
with foreign countries. Meanwhile VIII insure 10 our
laborcrs at home full dollars pay for dollars worth
of work. ,,
And I think We owe this to the American laborer.
Ever since we demoueized the old dollar have been
running minis at fun speed coming new silver ao,
lar for The use the Chinese cOoe and the Indian pari
"A dollar containing 400 grains OF standard silver win
its suprrorIty over our ancient dollar ostenta0usy en-
graved ITS reverse side. To These outs'ue paipa-
rans" send this superior dollar bearing an OBJ
tons. goddess of liberty, our denant cart DIT
federal unity, our trust in GG rms dollar contains ,hS S
fathers" proposed TO be recoined by the pendlns
bill and than four times as many OF these new
dollars have already been coined were coined OF
all other silver dollars in the United states. .u
In the exceptional ana abnormal CONDITION OF the e
yer market now existing throughout the world we nave
felt compelled TO increase the felgh Oh 'Be uo WIZ
which We carry Oh trade with the heather nations OF
Asio And snail we do less for the American lsbOrcr at
hOmcl Nay, shall we not do ittle DclteI an 'ii''
more for those OF own blood and our own hFcFlr
II Won re,uonetize the dollar Of the fathers your minis
viii he at once put work two different dollars an
teren in weight different IN value. different In prestige
different in their reputation and currency throusnout
the commercial world. Ii Will read sfankcV ~ 1istiY
tt The yyeiier aud more valuable OF these dollars u
,"dc TOR nm Ignorant class OF hcahen abOrers in emma
aud India and that the lighter ana less vaolc u ,uo
for tie Intelligent ami educated laboflnsmah VINO 10
ChariIy the adagc says, begin at home. Charity. The
the ght 10 demand that justice shoud begin az home
Aud M his and IN the name OF common 5cnsc anu
common honesty, ask ihdt the american ,oislg', " ~
which naked aud furnishing aud degraded iaDoieis
of India and CHINA refuse 10 accept
PROVISIONS OF MIR. DIAINEs BILL
The hill which now offer substitute FOR the House
BIZ contains three very simple provisions:
l. That the dollar shall contain Al grains OF standTd
silver shan have unlimited coinage, and BE- an unlimited
legal tender.
. That all the profits Of coinage shall 60 TO the Gov
eminent and lot Ia the operator In silver bullion.
g. That silver dollars silver bullion. assayed and
Mlnt-stamred. may be deposited with the Assistant
Treasurer at New-York for which coin certificates may
be issued The same in denomination a. Uniicd States
notes not below So and that these shall be redeemabe
an demand IN com or bullion, thus furnishing paper
circulation based on tan actual deposit OF precious METAL
giving rs notes as valuable those Of the Bank OF Eng
land and doing away at once with the dreaded ncon-
yenlcncc Of SILVER account OF bulk aud weight.
lido not fail Mr. President, to recognize that the COM
initials and ayowas oscnaors this question preclude
the hope Of my substitute being adopted. Indeed do
NOT fail TO recognize that this question am not In
line with either extreme with thos, believe in the
single gold standard or with those who, by premature
and unwsc action ~ must regard H. would force Us 10
lie single SILVER standard Either VIII be found in my
Judgment great mlsioriun" 10 IDS rountfyi We he,l
both gold ana silver, and We can have DOth ony Nv max
49, nov that in the nations where both have been fully
recognized, the most widely difused, tue steadiest
loved; that true form Of prosperity which
reaches all classes but which begins with tic d'y Ii
structure Of wealth. The exclusively gold nauOn IKE
England may show the most massive fortunes IN the
hopeless poverty In Ar humber walks 81 ne The go!d
and silver nation, Ike France can cXhh no such ma
ydua fortunes a. abound ~ England, bat IL has peas
antry that, with their silver taviEGt can py war III
deunity that would have bcssaFcd the sod banker ."
London and to which the p,asaniry OF England could
not have contributed pound STERLING Ia gou nor SIN
gle shilling Ia silver.
coin Of fu value. compared with the lrrcdcrmabsc
paper or compared even WIN silver OF inferior Nah
.IN IN a. ~
OF tens O millions, perhaps hundreds oi non- III inc
aggregate savings which represent coh-o!ui'u 'Ii1
n tnc of iIOm tc savage To the scholar
developed IN childhood and remaining with hHo-to
value the metals which In all tongues are called pre-
cius Lxrr.vc paper money leads 10 eXirayagincc To
Ia want, We painfully Witness on All Hlurr
toi,, And In the midst 0f the proof Of IL dcnoralzing
and destructive effect We hear II proclaimed III tue
Halls OF Congress that "thc people demand cheap
money" deny it, declare such phrase TO be total
lstppchrns0n, total misintrrpretatiun Of the p1pu
lar wish The people do not demand cheap money Ihcy
Crmald an abundance Of good money, which Is an en-
trclv different thing. They do not want single gold
standard that Will exclude silver and benefit those al
ready rich They do not want AL Inferior silver standard
that III drive out gOd and not help those already poor
They want both metals. III fun value IN equal honor III
whatever abundance the bountiul earth viii yield them
10 searching eye OF science and To tho hdd hand OF
labor l., ,.,.,
olls honorable cOmpanOnship as money ever since IN
teligent trade known among men, IL Is well nlgh
forty centuries since Abraham weighed To Ephr0n Inc
silver witch he had named In tine audience Of the sons
OF Ieth-i TOO shekcls OF silvercurcnt money with the
merchant" since that time nations have risen ana
fallen races have disappeared dialects ana languages
have been forgotten arts have been lost treasures have
pershrd continents have been discovered Islands have
been sunk In the and through all these ages and
through all changes. silver and gold have rcgned
suuremc a3 the rcprcscntutIycs OF value, the media
of exchange. The dethronemcnt Of each has been at
tempted in turn and sometimes the dcthronencnt OF
both but always III vain Aud here to-day. de
Iberatiug anew the problem which comes down 10
rs from Abrahams time the weight OF the silver that
shall he current money with tho merchant"
When Mr.. Blaine concluded, there was applause
in the galleries.
The Vcc-Presidcnt said he assumed that persons
in the galleries were ignorant of the laws of the
Senate. but he gave notice that if the applause
should be repeated the galleries would be cleared.
Order was restored in the chamber.
REMARKS BY MR.. JOHNSTON.
r,,p eor-Tu Soi ICIToUS FOR THE NATIONAL HONOR