The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1878-01-18
SILVER CHIMES
The Popular Movement in Fave,
zation. nemone

cation ef Remonat;
oeIADAN"S VI THE STATE CoNyps,
SPRINGFIELD, ILL. 1'oS AT
lows: 0opIeo, as fol.
Whereas, By act of Congress of
lI91 provision was made for the % Aiprl q
the Spanish milled dollar, then Coinage Of
containing 37H grains of pure silva current,
the monetary unit of the United 70 be
and although the standard weigh, states;
dollar, which was originally alC SUI IN OF said
Guiding the alloy, was, in 1887, Sans In.
4121a grains. yet the quantity OF nn uuced to
which it contained and its intrins;ee silver
remained unchanged for a period ~, value
than eighty years, during all which more
the silver dollar so coined continual Tine
the monetary unit and standard measn !" De
value tor the United States, Measure Of
whereas. Silver and gold concnrro.,
have constituted the basis of the mone,nu!
system OF all nations and peoples since ~
man; and 'nzei
Whereas, Silver coin has ALWAYS con..
tuted the chief and frequently the opIy u MI
talic legal-teDder currency in genarcI we'
among the masses OF the American neon use
and. p'0p'e
Whereas, The business and credits or =.
whole country, during almost the on. sne
period of the national existence, have lure oe
adjusted to this standard measure of volU eea
and,
Whereas, All bonds OF the United State
by law and the terms expressed on th"'t
face, are PAYABLE in coin of the standard ' NJ
July IA, 1870 namely, silver of 4l21 anS
go d %. s grains; therefore,
Resolved, That the decentralization Of n.
silver coinage of the Unite States was
change in our monetary system so srava
and so radical in its character and so vitsIr
affecting the commercial interests sn5
rights of the people, that it ought mot ~
have been ventured upon, even Under cr'
custances most favorable, until after fnu
thorough and exhaustive discussion of H.
merits before the people, and the cOva,,
scheme by which this most important movs
was perpetrated upon the country, without
one word of discussion, either in or ont NJ
Congress, and the obstinate persistence with
which the scheme is still prosecuted in
time of unparalleled business prostrafior
and disaster, and with the forced resumn.
ton of specie payment in imm ediate prc,.
pect, discloses a reckless disregard for the
public welfare, on the part of its movers
which merits our severest censure and con-
demnatiOn.
Resolved, That one of the obvious mr..
poses of the act demonesizing silver was tn
increase the value of the Government
bonds. and correspondingly increase the
public's burden by securing the payment
of those bonds in gold, when, by their term,
plainly expressed on their face, they are
redeemable in coin of the standard value Of
the United States on July IL, 1870, at which
time silver dollars rs well as gold dollars
were lawful tender in payment of all debts
public and private; that in order to secure
rh, hnn a1y an nh;
they are in noWise entitled, the people have
been clandestinely robbed of the legal-teD
der quality ofone-half their metallic cur
rency, thereby greatly enhancing the dr.
ficulty and danger of the proposed ressmp
ton of specie payments, and unjustly in.
creasing the burden of every individual st
urge.
Resolved, That we view with just alarm
the position taken by the Presidenton this 1
question i'm 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 delnSIo1
There are two parties interested in this
question-those who are to pay as well a.
those who are to receive payment. we
demand that justice-simple justice be done
to both by restoring tho old, tlme-hon0red
standard measure of values. The burdens
of Government will then rest lightly upon
the shoulders of a prosperous people. Oa1
we see no hope Of returning prosperity 10
the financial policy of the President anu
his mal-advisers.
Resolved, That the holders of the Govern
ment bonds not only have no right, lega "
equitable to demand payment otherws.
than according to their express terms Uu'
the Government cannot with due regaru v
the rights of the people, waive its option "
paw in silver or gold, and restrict itself 70
pawn ent in.gOld only and that when theM
tempt to do this is made by legislatlhg vu'
of existence the whole silver coinage OF Ius
country as legal tender, and at the ssIu y.
time depreciating the value OF one Oh "
most important products in the marKeIs VI
the world, the consequences of this .s ll
iOus scheme are so far-reaching anu uis
sstrous that it calls for unmeasured denuH'
citation.
Resolved, That the proposal W u!
bond-hOlders exclusively in gold #nma
their bonds do not call for, and at the S.Ts
time to demonetize silver so far as 70 m'aH
it legal tender to some small amount lOl :"
other kinds of Indebtedness. would DC
tial class legislation of the very worsI c .nsb
acter. We emphatically reject all s aOod
compromises. The money that IS sVSs
enough for the people is good enough io ois ~
bondholders; we demand that the .s s"d
dollar be returned to its full legal 'eI botb
quality, in the payment OF all deOLs s,;s y
public, and private, and we will be sa aiodss
with nothing less than this; and we Re pp@rps
ourselves to vote for no man Tor oonSS the
who Is not fully committed in faVofo'
measure. t8S has
Resolved, That we will resist the con sabs
nation of this wrong by all ho m rnou
means within our power. We can "f the
both Houses of Congress to insist up sba re-.
repeal of the demonetizing act, anu Isnn6btful /
storation of the silver dollar TO lts llassdpnt
place in our currency. and ii the iessd 10
shall, by the use of his negative, s1 GoUgress
debating the bill, then we call on oot 70 the
to append similar repeating CLAUSE end NJ By
general appropriation bill, ana s. thst
il To the LAST with full c01nehCe