The daily gazette., 1878-01-29
Passage OF fhe silver Bill by
T the senate.

From the Reading Eagle. sia,y
The U. s. Senate did good days work
yesterday IN passing the resolution Of
Stanley Matthews of Ohio, providing
for the payment of both principal and
interest OF the I, IS. bonds In silver. OF
course there will 60 up universal howl
from ali tie oreans Of the bohdhoiders,
but the latter may as well realize the fact
that the people are not willing to be COM
pletely ruined for the benefit Of one pafs
ticular class, and that class the one which
has done and Is doing the least u revive
the almost paralyzed industrial interests
of the country. 1t Is not denied that the
persons who purchased bonds during the
war greatly strengthened the hands Of
the government for the suppression of
the great rebellion, but the fact that a
large Amount of these bonds are held by
persons In Europe who are notoriously
hostile. to the perpetuity Of the American
Republic except 90 far as their personal
profit Is concerned, shows that the bond
holders invested In these bonds as mat
ter OF profit to themselves, and not gems
orally under the impulse of patriotism
The bonds were purchased for rgreenbacks,
ct lime when greenbacks were at q very
low rate according toa gold valuation,
and ever since their purchase they have
drawn high rate of interest in gold,, No
matter how many manufacturers. stopped,
how many working people suffered and
even starved for want of employment,
how the soldiers and sailors suffered for
their pay, how the business of the whole
country was completely ssagnated; . NO
mQtfar flnIiUlr s., &Lx.
whole country was compelled to submit
to reduction OF wages, the bondhold-
ers never once missed the payment OF
their high rate Of interest In gold, never
once consented to q reduction Of one lot
or title of their demand for their pound
of flesh; never once admitted the fact,
plain TO every one but themselves, that
the bonds were payable in lawful money,
of the United States. silver, gold or,
greenbacks. They caused the demone-
tization Of the silver dollar and proclaim
ed that greenbacks were the best cur
rency In the world, and yet, even when
these greenbacks are only trifie below
par In gold, they refuse to take them in
payment for their bonds and demand
payment in gold coin, though they know
full we'll that TO attempt such payment
would be 10 bankrupt the nation.
The people are tired Of this sophistry.
Even President Hayes admits that "the'
people welcomed silver money" 1t Is
good enough for them, 1t was good
enough for their fore-fathers, and they
are determined TO use it. It Is we'll that
their Senators and Representative begin
that most of the bonds, computed at
their purchase value In greenbacks, have
already been paid several times over In
the way of lnterestin gold. and the peo-
pie are resolved that they will no longer
submit TO such extortion.
Ifgold should by some means sudden
ly fall In value far below the price Of
silver and greenbacks, would the bond
holders accept payment In gold then2
Not at AL They and their organs would
howl bitterly about depreciated currency,
and demand payment In silver or gree1-
backs, -,ohichever happened to be 1ie most
The case is just this. The American
people are honest. They intend to nav
their national debt. They say to their
creditors-7"We cannot pay you IN gold,
we have not the gold to pay with, and
we never promised to pay In gold. We
viii pay you in lawful money of the
United States As you refuse to accept
and interest, in silver ney cSin, % 5or% S'Rn. tar
more noso IN gold than soere NE greenbdcks g
nth aohichyou purchased the bonds. Take.
that or nothing"
Nov let the House also pass the Silver
bill of Mr.. Matthews, and let President
Hayes, il he wishes 70 preserve the good
opinion Of the people OF our country at
large, sign It without quibbling or delay.
Il he should refuse to do so, Congress
should pass 1t over his veto. They have
been at home among their Constituents
Let them perform it feal lessly, without
regard to the money cliques Of New
York and New England, who have
nearly ruined the country in their selfish
efforts to cram their already pletborio
purses. ~