The Weekly Kansas chief. [volume] (Troy, Kan.) 1872-1918, 1878-02-14
silver in Congress.

Many persons do not understand the different
silver propositions before Congress, and they
confound the Matthews Resolution with the
Bland Silver Bill. Below, We give them both.
TO show the nature of each.
The Matthews Resolution, which las passed
both Houses by very large majorities, has no
force in law, but is simply au expression Of the
opinion and feeling of Congress 1t has been
said that Senator Matthews introduced the reso-
luton at the instance of the President, who
wished to feel the pulse of Congress on the Sill
yer question, in order to regulate his action in
approving or vetoing the Bland bill, should it
pass Congress. But this is probably mistake.
Matthews says that, while he agrees with the
President on his general policy, they do not
agree on the silver question. The following is
his resolution, with its preamble:
.WEEREAs, By the act entitled, An act to improve
the public credit, and approved March 10, 1863, it
provided and declared that the faith of the United
States was thereby solemny pledged to pay in coin
its equivalent all interestbeariDg obligations of
the United States, except in where the law
torzng the Issue Of such obligations had expressly
provided that the same might by paid in lawful mon
ey, or other currency than gold and silver; and
WHEREAS, All bonds of the United States author
lied to be ssned by the act entitled An act to author
ze the refupding Of the Saoual debt approved July
H. 1870 by the terms of said act we're declared to be
redeemable in coin of the then standard value, bear
ing interest payable semiannually in such coin and.
"WHEREAs, All bonds of the United States author
lied to he issued under the act entitled An act to
provide for the resumption of specie payments, ap-
proved January IA, 1875. required to be descrp
tive Of the bonds of the United States, described in
said act of Congress- approved July Ia, 1870 entitled
an Act to authorize the refnndng of the National
debt and
of Congress- last aforesaid, to-wit the 18th day OF
july s0 the coin of the United States of the stand
ard value Of that date included the silver dollar
Jy entitled s ae
mint and regulating coins of the United States to
be legal tender of payment according to their
ina vaiue, for any SUMS whatever therefore, be it
hesoired, BY the Senate, 1.-THE House of Represents
tves concurrng therein that all bonds of the United
States issued under said acts Of Congress
rected, are payable, principal and interest, at the
option of the Government of the United States, in
silver dollars of the coinage of the United States
containing 4lei grains each of standard silver, and
to restore to its coinage such silver coins ega
tender In payment of said bonds, principal and inter
est is not in violation of public faith nor in
of the rights of the public creditor"
The following is the Bland bill, which hal
passed the House, and which will pass the Sen
ate, perhaps this week. The bill, as it passed
the House, ends with the words printed in brack
cts. The Senate committee on Finance strucl
| out the words in brackets, and added the word
which follow. Whether the Senate will adop
the amendment of the Committee, or pass th,
bill as it came from the House, has not been in
dcated by any action thus far taken:
an Act 10 authorize The free coinage of the sandart
slrer dollar, aud TO rbsore its legal tender character
BE IL enacted etc., That there shall be coined a
the several mnts of the United States silver dollar
of the weight of four hundred and twelve aud hal
grains Troy of standard silver, provided in the
of January eighteenth eighteen hundred and thirty
seven, which shall be the devices and superscrip
tions provided by said act which coins together witt
all silver dollars heretofore coined by the Unite,
States of like weight and fineness, shall be lega
tender, at their nominal value for all debts and
public and private, except where otherwise provide,
by contract; and any owner Of silver bullion may de
poste the same at any United States coinage mint
assay Office, to be coined into such dollars, for hi
benefit, upon the same terms and conditions as gol,
bullion is deposited for coinage under existing laws
And the Secretary of the Treasury is authorized an,
directed out of any money in the Treasury not other
wise appropriated, to pugchase, from time to time
silver bullion at the market price thereof not les
than two million dollars per month, nor more thai
four million dollars per month, and cause the sam
to be coined into such dollars And any gain or seg
norage arising from this coinage shall be accounet
for or paid into the Treasury, provided under
stng laws relative to the subsidiary COINAGE provide,
| that the amount of money at any time invested il
such silver bullion, exclusive of such resulting coin
shall not exceed five million dollars