The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-01-26

would have returned aud prosperity
/ existed throughput the couatry, but
the interested bondholders could not
wait for things in their natural order
AS il was too slow. 1t was thought
that rapid contraction of the paper
currency would restore prosperity, and
the early resumption of specie pay
nients. This course of contraction bad
been pursued, Tut unhappily none of
the good results anticipated followed.
Tee volume of paper currency in cir
cuistion had been regulated BY the
government, aud not by the require
ments OF business Since che panic OF
| 1873 Dothins bad fiOurishet save gov.
! etBmeBt ho'.ds. Thesenate adjourned
30 Monday.
Mr.. Jones, az Florida, spoke at some
length az to the power griutej con
gress by the constituted u coiu
money, regulate its value, etc, anS
| argued that the time the acts OF 1853
| TO strengthen the public credit, and of
! 1870 10 authorize the refunt,ing OF the
national debt, were passed, the silver
dollar was a legal tender cola OF the
country, s-d congress had no power to
exclude II from the coinage of the
eouDtry. He claimed that there could
be no legal tender under the cons;itu.
ton except gold and silver He then
referred to the arguments that Ger.
many, England and other European
countries had demouetised silver. and
said Has il come to this that the
policies of European government.
were TO control the American repub-
lie ~' He had heard of such alliances
before, hut they We're always to crush
out the liberties of people. The policy
OF demoDetlZing silver began with
kings and emperors and ended with "A |
republic.
lie denied that it could be called re.
pudiation to pay the bonds in silver 4
and said reputation was revoltii TO /
the people. He then referred to the
condition of affairs at the close of the /
sary then, for time, to abandon thst
system of finance which existed pre-
vious TO the war, but the necessity soon
pissed away, aud now the cause of all .
the distress throughout: the country
must be sought for in our present
financial system. He spoke of abund-
ant crops, and said the troubles and
embarrassed feeling now existing over
the land were not brought abpGt by
natura! causes, they were the WORK of
men. He reviewed at some length the
various financial acts OF congress with
regard to that of 80, to strengthen the
public credit said it should have been
called an act To increase the burdens
of the people, rs IL was intended to
bind them to the payment CT the
debt iu coiu. He hoped il was the
purpose of congress now to restore
silver, The much abused metal which
God decreed should serve man as
money, To its former position.
IL had been argued that the act OF
1873 demoBetizing silver was passed
because silver was not reliable, be
caue it fiuctuated irfvaIue. He denied
that this WAS true, and said that from
the organization of the government
down to 1873, there was no legislation
respecting coinage, which showed that
there had been any variation what
ever in our silver coin. II auy coin
should have been abolished ON account
of being unstable in value, 1t should
have been gold.
He spoke Of the advantages. of silver
money and said therewss large
channel in the business Of The country
which silver could nil and il Was em.
phstically the money OF the people In
conclusion lac advocated the adoption
OF the Tt solution of Mr.. Matthews, be
cause he thought il wa for the true
Interest OF the country, though, of
course, he entertained the greatest re-
spect for all who differed from him.
The senate adjourned TO half past one
tomorrow to attend the mock funeral /
of Victor Emanuel.
WAsHINGToN, ID. C., January 2l.-
In the supreme conrt, Wallace VS..
Loomis ct. al, trustees of the bond
holders Of the Alabama and Chatta-
nooga railroad, from the southern dis
trict of Alabama, affirmed.
The ways and means committee
have resolved To report iavorably on
the Blackburn bill, extending the time
Cor the withdrawal of whisky from |
bonded warehouses TO July I. 1878.
Colonel Prescott argued before the
sub committee on elections and privi- 1
leges In behalf Of NJ. Rsiney, the sit
ting member of the house from South
Carolina.
Advices received here state that the
Mexican authorities at Piedres> Negroes |
have delivered the murderer, Cordeva,
to the American officers. much TO the |
disgust of the Mexicans. who threaten
a rescue.
Adviees from The City of Mexico,
says the government has Instituted |
Inquiries to ascertain what officers of \
the Mexican army invited Lieutenant /
Ward, of the United States forces, to |
cross into Mexico. The government |
has determined TO oppose the crossing
OF the boundary by American troops.
The requiem mass said at st. Aloisus
to-day, in behalf of the late king of
Italy, was very imposing, and was
heard by the president aud diynitsr!es |
OF our republican government. The |
members Of the seua,e aud house At |
TENDED tae otsequiss in a body. The |
representatives of European potentates
were in full costume.
Colonel Adair, ds,sgate of the Cher
okee nation, was before the house com.
mittee on territories to-day and spoke
for more than an hour in opposition 10
the bill TO establish the territorial
government Of Oklahoma in the
Indian territory. He argued IN
the proposition was In the in
tersst Of land spectators, In
violation Of treaties, and the
decisions Of the suprems court and