The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-09-12


who was Chairman Of the Ways and Means
!; Committee, said This bill Is measure Of
necessity, notofchoice. Noone would will.
ingly issue paper currency not redeemable
on demand, and make II a legal tender. II
isneyer desirable to depart from the circu.
lating medium which by common consent
OF civilized nations forms the standard Of
value"
Mr.. Fessenden, Mr.. Sumner, Mr.. Alley,
OF Massachusetts, and others, In discussing
and advocatingthe measure, without sin
gle exception, admitted the experiment to
be dangerous one, and one that would be
ruinous us permanent policy, and they
declared that 1t was not, and should not
become permanent policy.
The Democratic members, such as VAL
landingham, insisted that the legal tender
clause was unconstitutional, that 1t was u
forced loan, that it would be unjust and
disastrous, and they opposed the measure.
President Lincoln, after the passage OF
the act, spoke Of the issue OF United States
notes for currency Us n measure Congress
was compelled to resort to on account OF
the pressing demands of the Treasury. lie
said:
"a seturn 70 specie payments at The earliest period
WIN uue IeSaIa 70 al nteisn CVh
yaSn Ky " k ~ W Spd
reduce these fluctuations to the lowest possible point
VII Away, b leadiag Phrpote 10 wise ISEi:ation
eob ~ n ,Sa IN MI
guard asainst lheai.n \
And when the leral fender net came be.
foro the Supreme Cont 81 Inc United
States. the majority az the Court argued
| the circ,lmstai,ces and Iecessities Of the
government as iustifiable grounds for the
Issue Of the currency and Il, tlleir decision
rpported in IN Wallace. 'the Court saws:
aIti.sl.,r ,hat thsse no,,, srs otlIra,op, Of IN,
United States Their iauio Imports obligation. aud
sySry one Of them bears on u face promise to Pay
sum wv, M Ir s 4. ,Ss coIm ~
United STATES cOrtain weight and 6nsness Of gold or
silver, Thee notes arc obligations. They
olnd ihs ns''oaai n'h' Ahe! afe '"''ei'''' '"''
'sss !.
Anu asain,
he @ ~ Ta,1 AC ~ az a. n not ~. XIII ra.
rs on tho assertion that their emission Is collage
any regulation q tho value q money. NOT % Tsa
.ejt thai. . Congress may make H"y"f"' SAlf@6a' 40
'G c,o D ,hor :, Tho oninion of those
Sleariy, uei, ~ ano Sf ~ .Un,, Nc ,I,oSo
Wiz nU ,no,oJ !. Srnon ;is nnssa.e tlis oct
WHO up 'inn ~ ,.ecoss;,r II wos rocoo.
' VIZ = ~ oIaor danast,,rc from thn Avail
ll ILs ~ cIeai ~ n -, ~"
nliH sa.e poa,S3 " Al ,I,o tr,,nnoI;cv md
.nat s ~ ,.o no Mo;n Lv tbe Rsnmh.
i S;". 'U,.o ,, 10 cIosn ~ Tho yrar ;s N
hy;nc ah3ut such state of things as will
make this heretofore irredeemable paper
currency convertible into coin. And tits
upon this proposition that the Republican
party OF Ohio and OF the country go to
the people. AS it was clearly put by Sec
rotary Sherman in his Toledo speech, the
Republican party are in favor OF such an
amount OF legal tender currency Us can be
made aud Kept convertible upon demand
into gold or silver coin; that much and no
more. Whilst the Democratic party, on
the other hand, are in favor OF an amount
of legal tender currency such as may meet
the wishes and the demands, or rather the
exigencics OF what they are pleased to call
the business of the country, without any
regard whatever to its ,conyertibility into
coin. -
II It was hardly justiiable in the Con-
gress OF 1862, when we were plunged into
the midst Of a fearful war, demanding mill
ions OF money daily to carry 1t on, to issue
this irredeemable paper currency, what
possible justification can there. be In this
wear 1878, when the receipts OF the Treas
ury arc thirty millions beyond the wants
or the needs OF the Government, to issue q
further amount? stl5g
rurRMAS's RECORD.
a. III 10. bo.o q, oorroct;on
want - , ,e r u,s s LEI 10 ,inr;n"
WIN Wlia1 iiaNS neen say S,,. W. IL liz
WORDS OF SnugS ,. l ssu,os ~ .ha Dill III
senate OF ny T sH I.es .S on o,,s n
aay Q. narcl, lot, ,,; :Na,'5 I's
H. soil. - aArc' We IN do the business of
i, i1e saia a ips VII vi ~ t;no rnon wIolIy
!ns coun,yi o.s an s ~ aro mc N have
u iaeui n ~ eS;Sts elsewhere through.
Wv. ~, ;s,;i;saJ ,SorIJS Forit Il of no use
ous le sdy n,,i,, icreasc thc err.
~ ay meos p,sv nv hnndreI mil.
reiicy ao,.s'S; s ,a" S;3 Nat tbreo vcarsn"o
IONS ow, an, ;ts a ;ncroass tiitvfonr mill.
ou . uusnoa,nI;f ,n, ;ncroosa Il one hnn.
in'ls tisi :I,; au - ~. brce yoors hcnce
uEsu M. ii ~ ono,S.r ;,a,nara ior n fmr.
.iere VIII W " T,'a INV same Arguments
tiGr lnure a5 a., s wy s,Mo nrSss,rc will
W, WI, w useu, w Soon ,vLooorer there Ia
nc orouEnt 10 Ien. naonla hecome
9ver,taulE mnen ..'i'e,pps noop,e have
deeply IN aept, oI Ma , ..h;nh p cop o,iv he
schemes o. specuiasi9 ,; m ~ ,h e nn mr."
secured ~ ah iI,ala ,s,od IL IL tho ~lirl ~
mat sha!i turn iie., il'' Ios ~ omass;na
speculation; OF III sIie aSsao s,o.o ~ tL;nrs
fortunes; M.'tlIeNc, Sat oaonc;nS viii hn st
comes about, .lie sS sas Hi ho made tbnt
woFS, le Sili,e si.o.s S ~, ora nnsh;n"
are being maze now anu .ii III. SI' - ha ti,e
US l9r""tu , ~ MS - ~ cMrrencv Tint
re :M ..a,.aT tho OWLS nnder which
VIII on .I. ass' iahor ' Ieast is Is nv
we ,t,I ~ lFGse'i9iAoo'' nv 'V'''' 30 "
Again he says; Are We preparGu 10 uv
clare that under goVerhhient wni i'.I; ou'
fathers meant, IL they liea n MY .i' ~,
should be hard money government, pus
which has dritted long way from u, ln .ha
intention; do we now, a Eg.DI1 snd u;,vor
world over, mean TO DANISH solu anu sltNer,