Arizona citizen., 1878-02-22

dollar, and therefore if paid in silver
 the profit will certainly he handsome
 that by remoniiization the value of
 silver will rapidly increase and that
 as the bonds by law are payable in
 coin, the gold men are really the repu-
 diators when they seek to SO change
 the contract as to deprive the govern
 ment of one-half its power to pay, and
 that they are the ones really hurting
 the public credit by their denuncia- tions of Congressmen who, in pur. !suance of their oaths and convictions,
 are striving to redress a grevious wrong upon the people. The silver journals lcerlainly have the best of the argu.
 ments throughout.
 The Bland Bill making 41215 grains
 of silver a dollar, legal tender for any
 amount, passed the House of Repre-
 sentatives by an overwhelming majori ty, and is now before the Senate. Pend. ling its discussion, Senator Matthews introduced a joint resolution declaring
 that 1t would not be in violation of the
 public faith to pay the national debt
 in silver, and this resolution passed
 both Houses by over two-thirds maiori. lty of all the votes cast. That the bill
 will pass the Senate is certain, and
 the only question is whether or not
 it can pass that body over the expected | Presidential veto. The vote will eyi
 dently be very close, and the vote of d single Senator will be sufficient to turn the scale one way or the other, and as few Senators have not made public how they will finally stand, the matter
 is still in doubt, though the silver men are very confident.
 The Silver Bill is in no way allied 10 the bill repeating the resumption Iact, but many of its strongest support CTS, on the contrary, assert that the resumption of specie payments on the first of next January, will be impos- sible unless the resources of the gov ernment are increased by making silver legal tender. The bill still fur. ther is removed from the "rag baby g craze, which had for an object not only the repeal of the resumption act, but also the great increase in the amount of currency in circulation
 Since the above was written the teie- graph has informed us that, after an all-night session on the morning of February lG, the Senate by vote of forty-eight to twenty-one passed the bill reported as follows by its Finance Committee:
 That there shall be coined, at the se' eral hints of the United States, silver dollars of the weight of 41215 grains troy of standard silver, as pro vided in the act of January IS. 1857, on which shall be the devices and superscriptiOns provided by said act {; which coins, together with all silver dollars heretofore coined by the United States of like weight and fneness, shall be legal tender, at their nominal value, for all debts and dues, public and private, except where otherwise provided by contract And the Secre- tary of the Treasury is authorized and directed, out of any money in the Treasury not otherwise appropriated, to purchase, from time to time, silver bullion, al the market price thereof, not less than $2,000,0 per month, nor more than S4000,000 per month, and cause the same to be coined into such dollars. And any gain or seign- forage arising from this coinage shall be accounted for. and paid into the Treasury, as provided under existing laws relative to the subsidiary coinage: Provided, That the amount of money at any one time invested in such silver bullion, exclusive of such resulting coin, shall not exceed $j,000,000
 Sec. 2. That immediately after the passage of this act the President shall invite the governments of the countries composing the Latin union, so called, and of such other European nations as he may deem advisable, to join the United States in a conference to adopt a common ratio of legal tender as be tween gold and silver, for the purpose of establishing, internationally, the use of bimetallic money, and securing fiXity of relative value between those metals; such conference to be held at such place, in Europe or in the United States, at such time within SIX months as may be mutually agreed upon by the executives of the governments join ing in the same, whenever the govern menls so invited, or any three of them, shall have signified their willingness to unite in the same.
 The President shall, by and with the advice and consent of the Senate, ap- point three commissioners, who shall attend such conference on behalf of the United States, and shall report the doings thereof to the President, who shall transmit the same to Congress.
 Said commissioners shall each re- ceive the sum of $2,500 and their expenses, 10 be approved by the Secretary of State; and the amount to pay such compensation and expenses is hereby appropriated out of any money in the Treasury noti otherwise appropriated.
 Sec. 8. All acts and parts of acts with the provisions of this act are hereby repealed.
 The Bill will now return to the House, where there IS no doubt it will at once be passed as amended, by al large majority It is expected that President Hayes will veto the bill, ! when the issue will again be tried. It will be observed that while more than two thirds of the Senators voting,