The Centre reporter. [volume] (Centre Hall, Pa.) 1871-1940, 1878-02-14
THE SILrFR QUESTION IN CON-
GRFNS.

tkkNN.
The passage hy the Senate Of the e..
:. Of Mr.. Matthews resolution 20 pay
the bondholders in the Coins Of the
L, $, is matter ofimportance 10 the pco-
pie, as Il restores gold aud silver TO their
equivalent standard as ,egal tender IN
the payment Of dchts-yct We find the
gold gambler and speculator who are for
debasing the silver coin, crying out III
is law infringing the obligation of con-
tracts" while the very bonds which they
hold. have on their backs that the prin.
cipsl and interest are payable in coin,
the very word used in the Constitution
declaring that no state can make "any
thing but gold and silver coin = tender
in payment Of debts" Where the
breach Of contract the |. ). rescr-
we'd the right 10 pay the houdholders in
coin, the hondholdcrs loaned their mon
ey, accepted the terms 20 be paid IN coin,
aud they must be held 10 their contract
and receive il in gold or silver coin. Mr.
Webster in 1854 delivered speech on
the gold bill, from which We ms&e n
brief extract lie said, you know that
most countries make but one Of the
precious metals the medium for the pay
ment Of debts. In our country. from
the days Of Hamilton, the standard has
been t,qo>foli, We pay d'tsr iH gold or
slryr." That is all Mr. Matthews rrso-
ton enactS-reStorine silver coin 10 its
relative and equivalent value with gold
in the payment Of fdeb,s according 80 the
standard fixed by congress, viz, the sill
yer dollar of4I9l grains Of pure silver,
or 10 OF. Of silver to one Of gold, which
is an over.valuation Of gold and an nn-
dervaluation ofsilver.
Since the discussions ofthe gold and
silver question in the present congress,
we are obtaining some ligh, on this qnes-
lion, and 10 let our readers have the
benefit, we make an extract ar two from
speeches delivered in the present con-
gfeSs respecting the National debt cur
rency. II is stated that the debts Of the
eountry are nearly 1900 million dollars
that il was mostly contracted in curren-
cy; that We have l75 millions OF coin, $50
millions Of greenbacks, SIS millions of
bank notes in the country, maxi
ing an aggregate of SIS million dollars,
besides fractional currency" From 1868
10 1855 there were but few national
bank notes in use, period Of three
wears at the close Of 1865 the bankers
managed TO have about 500 million dol
lars OF legal tender notes and $50 mill
oas Of legal tender bonds converted in
70 per CT gold bearing interest bonds
added to the amount already under their
! control. "It was this converting Of cur
rency bonds for gold bonds, OF green
backs for bank notes.-the first 4 legal
tender, the other not legal tender-fOr
money that was not az interest, for in
terest bearing bonds and interest bear
ingcurrency without anything 10 redeem
L and the degrading silver CON that has
given rise 20 all the financial troubles OF
the country" Senator Thurman, OF
lOlio, in his speech, said, That silver
had been the metallic money OF the
world for thousands of years, and |. was
the MONEY ofihe Constitution. II the bill
Slould become a law It's tendency woulj
BE- TO put q stop 10 the decentralization
o. silver in other countries. Should vi
postpone the reconciliation Of silveI
until a compact with other nations h'
made, il would never be remonetized
He hoped our country would be ranged
" the side OF the bi-me'allic states. lie
he commercial world know that we dt
rot intend to abandon the use Of sil
YER"
In these extracts we have made, tn
reader will note that Daniel Webster
he great constitutional lawyer, stated OF
his very question that most countrie
make but one Of the precious m tails tn
Medium for payment Of debts. In o.,
'o,tntry, from the time Of Hamilton, tn
aandGrd has been t,roJold. We pay eithe
: gold or silrcr." And Senator Thur
man says, "and il silver was the none
# the Constitution" Then why debas
by undertaking it of its intrinsic an,
,oinage value TO please and pamper
:ew thousand money lenders, and specu
ators, as If they were Of more Impor
rance than 45 millions of people VIII
nave all the private and public debts t
pay2
JUSTICE TPICNPHdNT IN LOEl