The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-01-25

Al the state dinner to-day, President
Hayes handed Mrs. Waite and Colo.
mel Bristow, OF Kentucky, handed Mrs.
Hayes to the banquet,
The Judiciary committee will present
an elaborate report by its chairman
Representative Knott, of Kentucky,
in the case Of Smalls, member OF con-
gress from South Carolina. The report
holds that his privileges do not shield
him from the custody OF his state un.
der the charge of felony.
House-The steamboat bill occupied
the house, and progressed as far as the
last paragraph.
Senate-Mr. Lamar, of Mississippi,
said he would vote against the resolu.
ton Of Mr.. Matthews for the payment
Of the bonds principal and interest In
silver, and also the amendment there.
to OF Mr.. Edmund's to pay them in
gold, because he believed they did not
set forth fairly and fully the true
issue. The senator from Ohio, Mr..
Matthews, had argued that the act OF
1869 to strengthen the public credit
was passed on account OF the appre-
tensions that the principal of our pub.
lie debt was payable in legal-tender
notes. In his, (Mr. Lamar's,) opinion
the argument In favor ofthe right OF
the government to pay the bonds In
green backs at that time was stronger
than the arguments now addressed to
the senate in favor of the right of the
government to pay the bonds in silver
coin.
BY the law of the land, this green
back currency WAS elevated at that
time as full legal-tender for every.
thing, except custom dues and interest
on the public debt, and silver now Is
not legal.tender He concurred In
the opinion that in 1879 the bonds Were
payable in greenbacks, according to a
literal construction of the contract.
He did not believe it was wise, poll.
tic or statesmanlike now for the houses
of congress, in advance OF any legisla.
ton, to proclaim their position upon
this sweeping and radical revolution
in our financial system, He believed
there was more than one method OF
remonetizing silver, so as to place that
metal upon solid foundation as part
of the currency of this country. He
believed 1t could be done by the co.
operation of all those nations which |
desires to remonetize it, He believed !
a ratio between the two metals could |
be fixed so as to answer all the require
ments Of trade and business, but there
must be cooperation. The United
States could do nothing solitary and
alone to restore the silver dollar to the |
service Of the world. 1t was an admi.
rable object, but he did not believe the
Bland silver bill would accomplish the |
double standard. Its peculiar element
was that one metal aud one metal
alone should DO the ruling metal, and
that metal must be silver. We had |
better adhere to greenbacks than coin
this metal unless the European coun-
tries coined it also. If the Uni.
ted States should attempt to have a
bi-metallic standard when the prin-
cipal European countries had gold |
standard alone, the result would 6e
that this country would have silver
standard alone. Silver occupied a sub
ordinate position to gold in the money
of European countries, and congress
must legislate with reference to what
exists, with reference to things AZ they
are.
The Bland bill proposes that the old
silver dollar should be coined as a full
legal-tender. Would any one deny
that the effect Of this measure would
be to drive the gold which is In
this country far beyond our limits,
forever, and remand US to the nono'
metalism Of silver? Gold WIS the
great machine which swung the pro.
duce Of one country to another in bulk,
while silver answered the purposes OF
domestic exchange. This bill was not
advocated as a permanent measure of
finance, looking to last in the pros
perity of the country. 1t was simply
TO relieve the offering among our peo.
pie. Ifupon sound principles IL would