Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1878-01-16
Forthwith Congress.

1le luuS uOlludy reCesS hhNlHS NA"7N"'
the two Houses met last Thursday.
In the House Fernando Wood had his
investigation resolution on hand, and after
a day Or two's fight over it, succeeded in
getting it passed. A large number OF
committees will proceed to put out drag
nets-as profitable business us can be eX-
pected from the present Congress. 1t is
better that they be engaged in finding out
bad deeds done by others than in commit
ting like deeds themselves.
The Senate went to discussing the silver
bill and speeches have been made by Stan
ley Mathews and Dan Voorhees, in favor
of silver reconciliation. Mr.. Edmunds
Monday introduced the following amend
ment TO the preamble and resolution of
Mr.. Mathews of Ohio, submitted before
the holiday recess, declaring the right Of
the government to pay the bonds, principal
and interest, with silver, The amendment
reads:
Be ii enacted, That all the bonds of the
United States, issued or authorized to be
issued under the acts of Congress, are
payable, principal and interest, in gold
coin or its equivalent, and that any other
payment without the consent of the credit
or would be in violation Of the public
faith and in derogation of his rights.
Whereas, 1t appears from the record of
the Mint that the total coinage of the sill
yer dollar has been $685. 1913; and,
Whereas, The silver dollar of the United
States had been long absolutely obsolete as
any substantial part of the money of the
ed almost entirely converted into other
forms of metal, and did not exist at the
time of the making of any of the existing
loans of the United States, or those from
which existing loans have been refunded !;
and
Whereas, BY the provisions of the Coin
age act passed on the 18th of February of
that year, and of the revised statutes en-.
acted on the first day of that year, all
provisions of law authorizing the coinage
of such silver dollar were repealed and
Whereas, Since the passage of said last
mentioned acts gold coin, which by reason
Of the premises, has been the only existing
lawful coin tender and standard of value
for all payments above the sum of S., as it
had been the only one in fact for many
years before: the United States has Dor
rowed in gold coin from the people of this
and other countries the sum of not less than
1892, 10000 at a rate of interest lower
than that of any loan ever before made by
the government, and payable in coin /;
and
Whereas, The holders of all govern
ment securities have a right to expect that,
however much the United States may
change its laws SO us, in fact, to affect their
Interests favorably, it will never evade or
repeal favorable legislation either for the
purpose, or with the effect, to make money
at the expense of its creditors; and
Whereas, Differing from the transaction
of affairs between private persons, the
public creditors have no means of enforcing,
the payment of their loans, it is a duty Of
the highest obligation on the part of the
United States to pay its debts in such n
manner rs TO meet the just expectations of
its creditors, and to refrain from taking
advantage of the cheapness of silver by
reviving either obsolete coins or obsolete
or repealed coinage laws, in order to pro-
vide for payments in silver; and
Whereas, The substantial present value
Of the silver in u dollar of 4l2 10 grains
being only ninety-two per cenlum of the
value of dollar of gold, it would also be
unjust FOX the making power by new
Legislation to compel all private creditors
to receive from their debtors such silver
dollar at par in payment of pre-existing
debts, and equally unjust, and even more
cruel, to compel the great number of cit-
zens of the United States who subsst upon
the wages of daily labor to receive pay
ment for their work in money either depre-
ciatcd or debased.