National Republican., 1878-03-07
Is the Silver Dollar Dishonest {?

Is the Silver Dollar Dishonest
In a recent editorial we sought to show
some Of the causes which, originating both
in financial legislation and in executive ac-
ton, have resulted in widespread disaster
and in general dissatisfaction. Since that
article was published the speedy passage by
both Houses Of the silver bill, in spite of the
Presidents veto, has abundantly demon
strated the existence of the dissatisfaction,
and also Of the universal desire on the part
of the people for some immediate remedial
legislative action. Up TO the present time
none of the evils prophesied by the gold
monopolists as the certain and immediate
consequences Of the passage of a law restor-
ing silver to the currency have appeared
If, however, there Is not at first distrust
among foreign bond-holders and consequent
selling of bonds, 1t will be indeed strange,
for, so far as they possess any influence, the
gold monopoly press organs, their advo-
Gates in Congress, and the Executive of the
Government have excrted il all to impress
upon the world the belief that this act of
legislation, which has been for weeks evil
IDENTIFY inevitable, was a deliberately dshon-
est act-an attempt to debase the coinage of
the country, and TO violate solemn con-
tract with its creditors. Whatever these
people could do TO impair the worlds conf
dence in the honesty Of the United States
Government they have done. Eager to keep
the advantase OF thoir own wrong thoy de-
clare the coinage Of the dollar in silver Of
the standard weight and fneness ordained
by law II and which silver dol
lar must be just of that
standard weight and fineness, in order to
meet the terms Of the contract Of the United
States bonds-to be a deliberate debasing of
the coin of the United States, and they
search history to find parallel instances Of
the debasing of ron, and then proceed to
draw indictments against the integrity of
the United States, which, IL credited by the
European nations would justify them in
declining all further relations with nation
Of thieves and swindlers. These atrocious
charges are based on the fact that in the
present time, when silver has been demone-
tized and It's only value is for its
uses in the arts, this uncoined sill
yer, Of no value as money, is Of less
prOportionate value 10 gold, which now has
a monopoly in its use rs money, than il
held when both were used rs money. Since,
at the time when by law directing no
more silver dollars to be coined Ia law, by
the way, which in no wise interiered with
the legality of the csin, the silver dollar of
prescribed weight and fncness still remain
ing legal coin, only no new ones were to
be made, which as no coin Of any kind was
then in circulation, was not at that time a
matter of interest TO any one, the silver
dollar was at premium of three cents
over the gold dollar; aud, furthermore since
at the present time, the lOng-dishonored,
unredeemed paper promises to pay of the
Government, of no intrinsic value, and not
even fully endowed by the Government with
lcgal-tender qualities in that they are not
receivable by the Government for duties on
imports, are neycrthcless-thcse worthless
rags, utterly without intrinsic value, and
which have no currency in foreign cOun-
tries-worth rs much within one and n
quarter per cent uS lHc lullN mOncllLcu
gold dollar; nOH-cOmsiGt, as the lawyers say
l. C., it does not appear, but that possibly
when this amount of silver which now
without any value as money, is worth ninety
cents of the gold dollar, shall have been en-,
dowed by the United States Government
with the full powers of money, shall be
stamped with the superscriptiOn of the
American CESAR, and be received and re.
ceivable for all debts, public and private, il
will then possibly be equal in value tG
the piece of paper, not intrinsically worth
one cent in gold, which nevertheless is
made, by the Government impress alone
equal to ninety. eight and threc-iOurths cents
in gold The intrinsic value of the money
the circulating medium Of u country, is thu,
demonstrated to represent less than two part,
in the hundred, while the Government au,
thOrizatiOn represents over rninety eight part,
in hundred. II is then on the strength o.
a possible difference of one and one -iOurtl
per cent. that these sticklers for thcil
country's good fame have not scrupled tc
endeavor by every means in their power tC
place her before the world in the attitud,
of deliberate dishOnor. The argument Is
that though piece of WORTHLESS
paper, partially endowed with legal
tender powers, is made by the Govern
ment stamn canal In ninety- -eiuht onf