The daily gazette., 1878-02-18
FIRST EDITION.
binage Of Silver Dollars
lecch Of Hon. Eli salisbury.
II Delaware, I'm the senate
orthe UnitcdStatcs. Won
d.v.February III. 1873.

|or,be United states, Won
day.February III. 1875.
s,A senate having under consideration
f,uI1u r. No lOg3) To authorize the
"o,sage OF the standard silver dollar
,o restore It's legal-tender character
In. SALISBURY said: ie ~,
kr, PRESIDENT: Few questions per
l have been before the Senate that
\ attracted so general interest In the
E,try or elected such earnest and able
Ne as the question now before the
Sale. | do not hope to prevent any
Of the question which has not been
adj presented. My only purpose in
Epylnp any of the attention Of the
he at all is to place upon record and
IRE those whom | more Immediately
esent some of the reasons which in
me to give to this bill my support.
the commencement of the discussion
HIS question, when the resolution
ch was offered by the Senator from
b rMr. Matthews] and which has
led The Senate was under debate, The
zion was assumed that the bonds ol
Goyernment could not be legally
IN gold or silver coin at the option
be Government. If / have under
u the tenor of the debate recently,
position has been modified, and 1t
bw claimed that there are equitable
deralions which entitle theholders OF
bonds to payment in gold coin alone;
as this is a question which ought to
nade perfectly clear TO the minds OF
American people, shall not think 1t
propriate to occupy short time OF
benate in discussing that proposition.
B is the honesty Of the American
e that however anxious they might
br the reconciliation Of silver.if they
d be impressed with the idea that
injustice was TO be done TO any Of the
lie creditors ofthe country they would
b to avail themselves of legal right
u the exercises Of that right was pro
Ted by justice 10 any creditor of the
|ernment.
is now admitted by Senators who
spoken in opposition TO the recoin-
Of the silver dollar as legal tender
he payment Of debts, that by the
IS Of the laws under which the bonds
be Government were issued. they
be paid legally in silver dollars con.
ing 4l2a grains Of standaid silver,
they insist that while this eau be
in compliance with the letter Of the
Rnd would be technical fulfilmenl
e terms Of the contract between the
ernment and its creditors, it would
nequltable, unjust, and breach Of
PC faith TO do SO. | shall not insist
The specific performance ofa con,
Y is at all times and under all circum
lces the highest equity, but do insisl
tne holders of our securities can
e no just cause of complalnt.,f the,
lelVe what they agreed to accept II
iieht OF them. In certain cases il i,
ll ana proper that a party TO a con
should have relief from his enpaoe.
iV' IL lie has entered Into it under ,
apprehension or in ignorance of facts
,as oeen taken by surprise or circum
leu Dy fraud, he should be absol veC
! nlS agreement or have it reformed
ioinS 10 The demands of justice an,
H. But does any one say that tb,
lelS oi Government bonds purchase,
u IN lSlorance of any fact essentia
Allown, or that they were taken b,
'riSe ana hastily and inconsideratel,
s'cu Their money in them, or doe,
Oao assert That they are the dupel
sufferers by fraud practiced upor
~ NO one will SO affirm. They be
.ne creditors of the Government
lntarlly and freely, with full know
y ol all the facts connected with tb,
Iasaa anu character OF the bonds. un
fenced by any Consideration hut
~ W proht by the advantages whIcl
UUllgallons oft the Government ofIere,
Investment; sesuie; The terms Of paymen
nrtai 'rptISi'ncally stated not only in th,
"nicn authorized the issue of th.
80, oe VaI W., was Impressed upon the
h., VI lhe obligation themselves.
SiJase,'' VI See' Mr.; President, any equitabl,
~. ,ueiallon that binds the Goyernmen
y oSI, Sne poOllc creditors or the holder
Oh bVJhnsa'iohs shss exclusively in gold, O
w. oiould lake from il the ontion I,
a~s "aise Them in silver dollars.
e'elal reasons have been ass;o,od l.,
h" "No oppose this bill why it woul,
Ids Of s.1 ~, = or honorable to pay th
bs ~s o,, ol Tue Government IN silver coin
VI slhal standard value,
i's IN y asserted that it could not bav
sers re of Silg u, contemplation of the mn,
in siin ii .ile bonds that they would b
s.Ver dollars, because there ws
al thar,,l i' when the bonds were issue,
cI sn,; Incline of the passage of the law
siIvSr ,noriled oni their issue but yery m
prssiIn 'oin IN the country. 1t is true
nn'Gv5sllehl, that in 1910. when th
yem. act was passed, and for seve
lh,,n Pior 10 That time, there wa
'tIe if u',. silver money in the coun,rv
|recla,, '.,s had been the result of an,
|nclinao.h ,oh IN the value of silver or an
[be ba.loh cn',. on the part of the peonl,
' IN coiua cEiuntry to continue it as one q
6iph' i' ha because Of such depreciatio,
Sa, iIs raa nave justified the expectatio,
bed a,'S uae a, as a coin would be discon
Imen, auu uo1,I Inat the payments ofthe Gov
'I, n,,s would be made in sometbin, @
kci,rn naS as 1t cannot be averred tnaI th,
[er Of 81 Isl silver money resulted from on
5recIa,ssa ia said causes. Silver had % M
korv vIo1SSi,th,atlon. oS At no time in th'
Eer' gpaa, Ua .le country was its purchasin,
|dIv SS,ualer Sa,'a or would the peopIe NOR
Eiee' naye Y, welcomed its return Int int,
! bean IN TACT its relative value of COL, %
|teG Iu u. one of the causes which sv,, nre
(ausc ~ siIar circulation among us. 1t wa wa
kinsicssIIiIv,,e silver r dollars were worth NOR "r
1 hooa than gold dollars that ,hon %