Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-01-18
WHAT e.

WHAT EONSENSE.
Elsewhere In this issue Of the SEN
TINEL we have shown how Senator
Edrunds stood on the silver question
In 1867. Lately he has taken sides
against the demonstration of silver,
and on Monday he introduced q bill in
the Senate which declares that the
bonds of the United States be paid
only in gold coin. The Gold Hill NeWs
commenting on this subject remarks
as follows:
Now. Is Edmunds right in his propo-
sition that our bonds are payable in
gold? To answer this question, 1t is
only necessary to look back ut the time
when the bonds were issued and paid
for. Al that time we were without
money, and we needed 1t sorely. We
borrowed from nations in which silver
IL unknown rs money. We expected
to pay this money back in gold, and
they certainly had q right to ex pect it
back In gold. To pay it now In cur.
rency, which our creditors cannot use
n par value, will be worse than repu.
diation-it will be bsre-faced robbery,
national dish0n0r. What this nation
wants to day Is what President Hayes
and Senator Edmunds want-a silver
bill that shall be honest. We want
silver made . legal tender, but not for
past debts.
The argument Of the NeVs might be
very well. were not its premises erro-
neous. It assumes that we are seeking
10 pay our debts in . character Of
money not warranted by the strict let
ter Of the contract. This emphstically is
not the case. TN theconsrsry BY far the
largest share Of the Governments bonds
carry on their face . provision making
them payable al maturity ''in gold or
silver coin." This IL SO plain a case that
We cannot but marvel that a man is to
be found within the broad confines OF
the United States having the temerity
to take sides with the gold ring. 1t is
true that silver was fraudulently de-
monetixed Ia 1873. But could that cir.
cumssance affect the existing contract
between the Government and the bond
holders? For the sake Of argument
let us reverse things. Suppose that
silver to-day was at . premium and
gold at . discount. In that case, what
do you imagine would be the position
of the ~bondholdersf Is 1t not certain
that they would be clsmoring for
rem0netization. while ct the same time
insisting that the Act Of Congress de.
monetizing silver was . gross
outrage upon vested rights, and
in open aud palpable violation
Of the terms Of the contract between
themselves and the Government ?
Everybody knows that Is precisely
what they would claim. Now, what
10 sauce for the bondholder must he
sauce for the Government. The Nescs
wants silver made = legal tender. but
not for past debts. We want 1t made q
legal tender for everything, and especi
ally do We insist that the bonded debt
Of the United States shall be liquidated
as the time aud place and IN the precise
character Of money nominated in the
bond,r to Wit: gold or silver coin ~
the option Of the Government. This
Yves the contracE, and II It 10 to bring
dishonor on the Government to keep
ssrsctaAith xffhits creditors, Let IL come.
Bat there y no. danger Of that. Ali oi
tbs hns and cry about dishonor and
Sspudiation IL the work OF the gold
ring to frighten timid people. II will
end In Intellectual bluster, which
10 about ali the opposition to silver
amounts to, At best. The restoration
OF silver TO the place 1t occupied at the
time the bonds were negotiated. can
not possibly be considered dishonora.
BILE or as tending to reputation. We
simply get back to the starting point,
and that Is all there Is Of it. The bond
holder will stand precisely where he
did when he invested his money in
our securities. II this does not suit
him, he had better s'seli OUT"