The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1878-01-23
SILVER CHIMES.
The Popular Movement in Favor of RemOneti
Zation.

PROCEEDINGS OF THE STATE CONVENTION Al
| SPRINGFIELD, ILL.
The platform was then adopted, as fol-
lows:
Whereas, By act of Congress of April
1892, provision was M 4de for the coinage o
the Spanish mlled dollar, then current
containing 3I14 grains of pure silver, TO be
| the monetary unit of the United States
and although the standard weight of said
dollar, which was originally 4lG grains, in
Guiding the alloy, was, in 1897, reduced to
4121a grains, yet tie quantity of pure silver
| which it contained aud its intrinsic value
remained unchanged for period of more
| than eighty years, during all which time
the silver dollar So coined continued to be
the monetary unit and standard measure OF
| value tor the United StafeS,
Whereas, Silver and gold concurrently
have constituted the basis of the monetary
system OF all nations and peoples since the
earliest period in the history of clvilize
| man; and
| Whereas, Silver coin has always consti-
| tuted the chief and frequently the OILY me-
| talic legal-tender currency in general use
among the masses OF the American people /;
| and,
Whereas. The business aud credits of the
| whole country, during almost the entire
period of the national existence. have been
adjusted TO this standard measure of values /;
and,
Whereas. All bonds OF the United States,
by law and tile terms expressed on their
face, are pay able in coin of the standard of
July IA, 1870 nam .iy, silver of 4l213 aud
go Il %. S grains; therefore,
Resolved. Tina the decentralization OF the
silver coinage of the UHi'ei states was q
change in our monetary system SO grave
and so radical in its character and so vitality
aft citing th5 commercial interests anu
rights of the people, that it ought not to
have been ventured upon, even nder Cir
enstanees III ast favorable, II Ill alter fun,
thorough and exhaustive discussion of its
merits before the people, and the covert
scheme by which this most important move
was perpetrated upon the country, without
one word of discussion, either in or out OF
Congress, and the obstinate persistence with
which the cheme is still prosecuted, in a
time of unparalleled business prostration
and disaster, and with the forced resump-
ton of Spe Gle payment in imm ediafe pros
pect, discloses reckless disregard for the
public welfare, on the part of its movers,
which merits our severest ceneure and con-
domination.
Resolved That one of the obvious pur-
poses OF the act denonetiZing silver was to
increase the value of the Government
bonds. and correspondingly increase the
public's burden by securing the payment
of those bonds in golh, when, by their terms
plainly expressed on their face, they are
redeemabie in coin of the standard value OF
the United 5 ates on July ii, 1870, at which
time silver dollars rs well as gold dollars
were lawful tender in payment of all debts,
to the bondholders this advantage, to which
they are in nowise entitled, the people have
been clandestinely robbed of the legal-ten-
der quality ofone-half their metallic cur
rency, thereby greatly enhancing the diff
ficulty and danger of the proposed resamp-
tioa of specie payments, and unjustly in
creasing the burden of every Individual at
large.
Resolved, That we view with just alarm
the position taken by the President on this
question in his late message, and We have
good reason to believe that his Judgment
has been warped and misguided by the bad
counsels of his constitutional advisers into
the adoption of line of policy which would
give the bondholders an undue and unjust
advantage, greatly to the detriment of the
people. We have searched in vain through
his message for any word of true comfort
for the struggling masses, by whose labor
the money must be earned to pay these
bonds. We regard his suggestion that by
yielding to the demands OF the public cred@ |
itors these bonds may be exchanged for |
others at reduced interest, as a delusion. |
There are two parties interested in this |
question-thOse who are to pay as well as |
those who are to receive payment. We |
demand that justice-simple Justice be done
TO both by restoring the old, time-honored |
standard measure Of values. The burdens |
Of Government will then rest lightly upon /
the shoulders of a prosperous people, but |
we see no hope of returning prosperity in /
the financial policy of the President and /
his mal-advisers.
Resolved, That the holders of the Govern /
nent bonds not only have no right, legal or
equitable TO demand payment otherwise /
Than according to their express terms, but +
he Government cannot with due regard to I
he rights of the people, waive ita option to /
pay In silver or gold, and restrict itself 70
payment in'gold only; and that when the at
sempt to do this Ii made By legislating out
IF existence the whole silver coinage OF the L
country as legal tender, and &C the same