The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-11-12
The Silver Question,

One of the few really good measures
passed by congress at its last session was
the act remonetizing silver. Washington
specials indicate that President Hayes will
recommend to congress the passage of an
other bill reducing the amount of silver
which may be coined per month, or else an
increase of the weight of the silver dollar.
Either proceeding would in reality annul
the spirit and effect of the late law restor-
ing silver 10 its present position. There is
little doubt but the silver bill of the last
session fairly expressed the will of the
nation upon that subject The people
honestly desired the restoration Of the old
silver dollar with all its functions as in
days past, and SO strong was the demand
that congress passed the law over all oppo-
sition even that of presidential veto. 1t
is not at all probable congress will attempt
to prevent the operation of the resumption
act, and therefore the secretary of the
treasury will be allowed the opportunity
OF accomplishing that result if it can be
done. lift should fail, as it is quite prob
able 1t may, the secretary will not be in a
comfortable position either as the head of
the treasury department or as leader of
the republican party, but iDasmuch as
he has staked both his own financial
reputation and the finances of
country on the hazard of the re-
suit be must abide the consequences.
Ii resumption should be successful the
question will be settled once for all and
there will be no necessity for argument or
reaction-it will be an accomplished fact
and that will end the matter.
But the proposed agitation of the silver
question and the change which is to be
asked for indicate that the success of re-
sumption is not yet an assured fact. or
else that in the last moment the capitalists
have discovered some way in which thew
can make further ard final squeeze for
their own special benefit aud to the de-
triment of the people at large, The pro
posed change would operate wholly in
favor of the creditor class and would add
to the burdens of the debtor. 1t would be
only another phase of the communistic
principle by making another divide for
the benefit Of the money holder. And
communism in favor Of capital is every
whit as Objectionable as it is when called
Tor the other way 1t is just such unfair
and unwise legislation which gives cow-
munlsm It's footing, enables it to make
Roadway by having real cause of griev-
ance, The injustice of unwise and IN
called for Legislation in behalf of capital
only serves as ruinous precedent, and
will induce retaliation whenever it SO
chances that the tables are turned.
Secretary Sherman is reported as saying
the late elections have settled the financial
question, because the greenbackers have
been buried out of sight, and he believes
the democrats will not dare to inauRurate
any measures of imitation or practically in
terfere with resumption. The democrats
as party have not given any special indi-
cations OF an intention to support or bring
forward measures of imitation, but the par
" Is strongly committed in congress and
out OF 1t to a bi-metallic currency and TO
AUG coinage OF silver, and if the admins