The Leavenworth weekly times., 1878-02-14

Nr. BLAiNE'S speech presented the fol
: lowing points: Gold and silver coin ar
the money OF the Constitution. The organi
iaw conferred 10 power on Congress to DC
clare that eIthe- should not be money
congress, therefore, has no power 10 demon
eiize silver any more than gold, or than il
mas 70 deaioueriZe both. II, therefore, silyel
has bcen demone,ized. he was in favor o.
rernone;izing 1t; IT lis cUinsge had beer
prohibited, lie was II favor OF ordering it tC
br resumed; II 1t had been restricted, hs
I vas IN FAVOR oi having il enlarged
Congress has TIE exclusive power 10
coin gold and si., . ID regulate their
value. Ii Germany should remonetize sill
Yer and the States OF the Latin UnIon re-
| open their mints. silver would resume It's
/ former relation with gold. He believed the
| EuropeaScountrie- would be driven to full
remonetization, and then they must of ne
cessity accept their old ratio of l5l of sill
yer TO ! of gold. Then we shall be COM
PEELED TO adopt some ratio instead of our
former, Is to /. II We fail To DO this.
We shall lose our silver. which will
seek the highest market But the difficult
problem is how to re-es;abiish silver with
out the cooperation of the European pow
the cnrrent value of gold, We invite Europe
| 10 take our gold from Us, which will force
lis to single silver standard, and cripple
our relations with the leading commercial
countries In the present conditions at
current rates of silver, the free coinage of
the dollar containing 4l2l grains gives an
illigiiimate profit 10 the owner of
bullion which would deiraud the man who
. L II L. L..
follows that the free coinage and circula-
tion Of this inferior dollar must be at the
expense Of our gold, which will flow out
with the certainly and the resistless force
OF the tides. What gain, therefore, would
be made in this circulating medium, II, on
opening the gate for silver 10 flow in. We
open wider the gate for gold to iiow out
Until Europe renoneti2es We cant afford 10
coin dollar as low as 4l24
grains. After Europe remonetizes on the
old standard, We can't afford to coin dol
lar above 400 grains, because If
we do silver will leave Us. Mr. Blaine ar
gued that it was public injustice and pri
vate wong in making debased silver !
STANDARD which must inevitably fix a lower !
standard value Tor our paper money. He
urged for a strict regard 10 the interest of |
public creditors, which is indisolubly |
bound up with the interest |
of the people. lie repudiated the
specific demand for the payment OF bonds
in gold, hut they must be paid in good and |
not inferior silver dollars. Our pledge to
the public creditor in 1870 binds US to pay
in the standard of then existing value. A
silver dollar OF 425 grains would equitably
represent dollar Of that date. Such
dollar will benefit in turn the miner, the
owner OF bullion, the holder of the
coin and the goy,rnment, and will
insure to our laborers a full dollars
pay for a dollars worth OF work. Fer these
reasons he advocated the unlimited coinage
Of legal tender for a dollar of that weight
lie did not expect the adoption OF his sub
stitute in view OF precluding COM
initials and the avowal of Sena-
tors. He was not in line
with either extreme; those who favor
a single gold standard, or those whose
view. ii sustained, would force us to a sin
gle silver standard. We needed both and
could have them only by making each the
equal OF the other He called attention to
he fact that the dollar proposed by the bill
5 lighter and less valuable than the one
,oined by our mints for the ignorant class
# heather laborers in China and India,
md in the name OF common sense and
'ommon honesty he asked the American
congress net to force upon the American
aborer an inferior dollar, which the naked. +,
amishins and degraded laborers of India
md China refused to accept. He denied
he assertion that the people demand cheap
money. They demand an abundance OF {
Ii,ax- do .Yn,,l.
,olh standard that will exclude silver and
,eneiit those already rich, nor do they want
IN inferior silver standard that will exclude
,old and not help those already poor.
They wan, both metals in full value and {
n equal honor. {
Mr.. BLAINE concluded his remarks at
p. m.
Mr.. JOHNSTON then spoke in favor OF
he bill. He said it could not have escaped {
he attention of any one that portion OF l
he public press, especially that OF the g
iorth, had indicated that the South stood
eady at any time to repudiate the public
lebt OF the United States. lie wished to
ay for himself, and on behalf
Il his southern colleagues on the ,
loor, that no people had the ,
lationai honor more at heart than the peo- y.
lie OF the South. They had passed through
he most terrible suffering and did not pro- .
,ose to undergo the journey again. III they ,
lad no better motive for upholding the i,
rational honor than that of self interest, j.,
hey would not do anything to bring dis !
redit upon the government. The people !
i the South know tha' their condition was
mixed with those of the North,
nd they must uphold the honor and credit G
f the government. All were in the same '
oat and the Southern people did not 4
ropose TO scuttle or wreck n
hat vessel. SO far as they were concerned, O
hey proposed that she should have pros C
erous voyage. lie argued that silver was b
ne of the products OF the country, and it b
'as the duty OF Congress to see that it was d
ot injured. There was great popular a
emand for the reconciliation OF silver G
he people of the country believed it was C
emonetized by fraud, and that the act d
hich demonetized twas smuggled through
nd should be repealed. He denied that
ne reconciliation OF silver would drive $
Did Out OF the country, and spoke at length "
the necessity Of bi-metallic currency "
.eferring to the demonetizing OF silver by a
Germany he sa d all knew that the German II
npire to-day, notwithstanding the large p
received from France, was in the e'
lrocs OF financial distress. That did not a
,eak well ior the practical effect of demon u
izing silver. lie then spoke OF the valne
silver TO the cOlored people q
the South, and said they knew 3
Dthing about the value of gold and
id not appreciate paper. Remonetize
liver and much of it would be absorbed
Y him. The philanthropists and aboli- L
onists who had freed the negro ought to
,nsider what they should do for Its prac-
cal benefit. Give the colored people OF q
lie South the money they want, and it
ould make them better citizens. They
ould have something to work for and it
ould encourage industry. OF
Mr. HILL then took the floor, but before d
-oceeding with his remarks yielded to Mr. W
organ, upon whose motion the Senate
ent into executive session. al
After the doors were re-opened. the SEN &
e adjourned.
HOUSE.
WAsHISGToN, D. C., February 6.-On al
otion OF Mr.. Cox, (of \. " a resolution VI