The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-03-21
the FINANCIAL QUESTION.
Ex-Governor John M. Palmer. of Illi-
nols, Expresses His View Re
specting the Power of
Congress Over the
Currency.
a HARD MONEY DEMOCRAT.

louisville, (Ky.) News, March 15)
SPRINGFIELD, Ill, March IL, 1873.
George Baber, ESQ:
DEAR SIR have noticed the very
kind references made to my name that
have been so extensively copied from the
Daily Erening Nelos, and have apprecia-
ed your good opinion and good will, but,
at the same time, have left some curiosity
to know what the Ne,cS would consider to
be "soundness' on the money question ?"
Your letter of to-day, for which | am
obliged, relieves my curiosity on the point,
but the requirement of an agreement with
Senator Voorhees, on 'the money question, -
as a condition OF soundness of faith, leaves
me outside Of the pale of 1.-THE church
Tor, alas | am al old fashioned hard
money mau-so obdurate and fixed in my
opinions that deny the power of congress,
10 time of peace, to make treasury notes a
legal tender for private debts, and. if !
could admit the power, | would oppose It's
exercise, for in my judgement, no system
OF hnance or money is as vicious or danger
Gus to the interests of this country as that
which makes the amount Of the currency
depend upon the action Of politicians who
compose the two houses of congress, or
that gives partisan secretary of the
treasury the control over the matter That
congress is an unsafe depository of the
power to regulate The amount of the
currency required by the business of the
country is abundantly shown by the fact
that what is known as the provision of the
law "demonetizing silver" was passed BY
congress and voted for by many members
OF both houses who now ludicrousy enough
attempt to evade the responsibility of their
votes, insisting that, at the same time.
they did not kn0oC that the bill contained
the obnoxious provision. Concedinp the
honesty of all these apologiziug gentlemen
as L cheerfully do, what can be said of
their capacity or attention to business ?
Some ct the members of congress, who are
now the most clamorous for what they
style reconciliation Of silver" are among
the number of those who sorrowfulIy
confess that they knew not what thew
did"
And as further illustration of the
utter unttness and incapacity of congress
10 regulate the currency, it will be remem
bered that prior to the session Of 1874 =
the country, under the operation of existing
financial legislation and of natural laws.
was steadily, but slowly and safely, MOVING
10 the direction OF return to the resump
ton OF specie payment The subject of
resumption at that time was attracting the
puolic attention, and was likely to embar-
rass the political parties in the canvass of
1876. 10 avert this for the renpblican
party it then, by its majority in both
branches of congress, pledged the federal
treasury to resume specie payment on the
first day Of January, 1879. The measure
was adopted by the republican members
oil congress In caucus, and voted for BY
all of them, including those that are now
most :lamorous for its repeal, They well
ded everything to supposed party neces-
slty and so it willie be, as long as the
business and currency, and, in short, the
people is treated as the stake to be played
Tor at every election.
regret that so many democrats are
now disposed to concede to the federal
government the enormous and all. absorbing
power OF issuing and regulating the amount