The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-01-16
THE NATIONAL HOUSE OF REPRE-
SENTATIVES ON THE SILVER BILL
AND THE RESUMPTION LAW.

1t is well to inquire what the peoples
representatives have done in congress to
mitigate the cruel curses that radical legis-
lations have brought upon the country. In
this terrible hour of scourges, worse than war
and pestilence, the people may well afford to
be candid. There is no controversy with re-
gard to the absolute and pressing necessity
for business relief. Upon this proposition
all honest men agree. The supreme demand
is national prosperity. To accomplish pur-
pose of such transcendent importance con-
summate ability and patriotic devotion to
the welfare of the country was and is
still required. Now. then, we ask, what has
congress accomplished? What measures
have been devised, and what is the tone Of
public sentiment? The bill which passed
the house of representatives by vote of f61
TO 81, proposing the reconciliation of silver,
its free coinage and unlimited legal tender
being constitutional, wise, prudent and just
to all parties, is as popular with the people
as it is possible-all things considerable
conceive. The re-enactment of the coin law
as it stood upon the statutes Of the country
prior to 1878 is in the interest of the people,
in the interest of business and
in the interest of equity. 1t proposes the
right thing to be done at the right time, and
the objections to the bill have been puerile,
selfish, and in direct antagonism to justice.
The measure is opposed by those who are
subsidized by the money power, or by TRIM
mers Who are more anxious for their future
political status than for the general welfare.
One of the chief arguments, or rather falla-
cies, urged against free coinage is that bull
lionists will make profit of eight cents on
every dollar coined. That is to say. they
will send their bullion to the minis, worth 80
cents to the dollar, and take back coin worth
100 cents to the dollar. But the
persons who make this objection to free
coinage assume that If silver is remonetized
and coined at the rate of from two to four
millions of dollars per month, that bullion
will at once advance to par. Should such
be the case it would not matter to the bull
| ionists whether free or limited coinage be-
comes the law of the land, since in either
case they would make the profit of eight
cents on the dollar But the cruel feature
of the objection to the demonstration OF
silver, and the benefits likely to accrue to the
people thereby. is found in the fact
that the purpose is to legislate against
the interests of 44,999,0 900 OF
the people that the remaining one thousand
who may be bullionists shall not make any
profit on the coinage of the silver. These
men are willing that business shall remain
PROSTATE; that confidence shall still longer
be exiled from the marts of trade; that bank
ruptcy shall go forward; that idleness shall in
crease, with its accumulated curses, if there
by few bullionists shall be prevented from
making profit upon coinage. These obiec
tons however are put forth to obscure the
real facts in the case. The bondholders want
gold, while the contract definitely provides
for ''coin''-gold or silver. The people are
beginning to comprehend the purpose
OF. the few who are opposing the Will and
welfare of the many. The vote in the house