South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1878-02-22
Se,itk 8ranflr antelii9eneer.
RoMNEY. FRIDAY. FEB. ~. 1877.
[wsshiog,on correspondenes Baltimore Son. ]

lwsshiugton Correspondents Baltimore suu.1
'~In the Senate ON the Ilth, the con.
sideration ofthe silver bill was resumed.
Mr.. Davis West va.) said the bill WAS
Of great Importance to the wbofe coun-
try, and especially To- the agricultural,
manufacturing and laboring classes.
He reviewed at some length the various
coinage acts since tho Organization of
the government, and said when the act
of 1872 was passed IL was q question
whether silver alone or both gold &; sill.
yer SHOULD be the standard. II required
the united Efforts OF Hamilton, WASH
ington and others to have the double
adopted. This plainly indicated that
the founders OF the government favored
silver az money. The population OF
the world under the silver standard a
lone numbered $40. 100000; under the
goh standard alone, lS0,450.000. and
under the gold and silver standard com.
bined, 1872. 500, 900, showing a difference
Of 563, $50. 900 in favor Of silver.
He argued that It was unconstitutional
to demonetize silver; the constitution
recognized both gold and silver as the
legal standard. IfCongress could demo.
netize silver it could demonetize gold
also, and then We wousd be without a
coin. He then referred to the argument
heretofore made In the Senate against
paying The bonds in silver. and contend-
ed that it would be violation of cons
tract 10 pay the bonds in gold alone or
in silver alone. The contract Gale I
for their payment in coin, and Congress
had no right to change the contract eth
CIR im favor Of the debtor or creditor.
The act of 1878 'demonetizing silver was
passed without due discussion. and fol-
lowing it came financial distress throagh-
out the country from which the people
were suffering to day.
lie believed that the rempnetization
of the silver dollar AMI making it full
legal.tender would soon cause it to G.
quail the gold dollar in value. The de-
monetization Of silver had decreas
its value. Demonetize gold anil the
same result would follow He OPPOSED
any amendment to change the weight
Of the silver dollar from 4l2l grains.
and said to do so would be changing
the value of the dollar named in the
bonds OF the government besides in.
crease the weight Of the dollar wouh
make silver OF greater value than gold.
and drive silver from the country. lie
believed to pass the bill now before the
Senate would he productive OF good, at
least it was worth fair trial. 1t would
aid in the resumption Of specie pay
meut because it would large lysincrease
the amount ofcoin with which to resume.
1t has been sail that the agitation OF
this question was even now causing the
return Of our bonds from Europe. Nm
his opinion the return of the bonds was
due entirely to another cause--onr ex-
ports exceeded our imports. The bal
ance of trade was in our favor, and this
excess had to be paid to the u. States,
some OF which was paid with bonds. lie
also favored the reconciliation of sill
YER, because it was one four chief pro-
ducts. Its RECOMMENDATION would relieve
tie financial distress, restore confidence
and be the beginning OF that prosperity
so long a stranger to our people.