Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-02-05
The Silver Dollar.

| he NcW 0rk Board or 1TaGe and 1!aDS'
portaton held q meeting yesterday and adopted
a resolution that memorial BE- forwarded to
the Senate and House ef Congress. recitlng the
evils Of the plethora Of silver currency which
have hcca experienced hg merchants ii the
city.
The memorial states that wholesale march.
ants Of New York experience great inconvenl.
eDca from the accumulation OF silver coin re
| ceivcd from their customers who arc principally
retail tradesmen. AS the Board will not re-
ceivc the silver Oh deposit except to pay it back
in kind, merchants are obliged to sell it at a
discount, and add the amount Of the discount
to the price Of their goods; thus. the loss in the
| end falls on the consumer, and tho only person
benefited is the money broker. The memorial
concludes: Silver coin Of the present wnieht
| and standard is now at discount of , to per
ccntum ~ compared with paper, and practical
IL the heaviest part Of this loss falls upon the
poor man. Ii silver dollar is coined contain
Ing 2 sill less weight OF silver than those at
rrrs>Ct Ia circulation, the loss will be proper
ii0Hatey greater There are certain uatural
laws which clnnot be abrogated, and while it Is
possible for the uatoo through its representa-
,ives to say to the nations creditors: We will
| pay you vi III uOilnlS UluClCut lluu lHUSc Shu
expected, end worth only what We please to
make Them il is not possible to prevent the
Ea'ion lrGn, suferiog indirectly from the adop
ton of such course. The rule that honesty
is tie hest policy, applies equally 20 communal
lies ard nations as 10 Individuals. and We do
nat bell, " i: TO be good policy for a great ma
ton to violate te spirit Of an agreement even
i! the letter CT it permits.
"Nc arc noT so near the practical resump
| ton Il specie payments upon the same basis as
the rest of the world that it seems pity that
this much 10 b. desired result, which will bring
| real and permanent prosperity to the whole
| country, should be interrupted and postponed.
| We sincerely trust that measures which Hre in
| triascally inconvenent and burdensone to COM
MERGE may b. defeated, that reason may prevail
over unthinking cIamor, and that enlightened
craftsmanship will firmly staud between natiooal
honor and those who either foolishly or wlllully
&:cl:: to overthrow it.
SUPREME Court DEcIsGoN.-In the U. S.
Supreme Court, yesterday, Griffith D. Neal,
plaintiff in error, vs. Langhornc, Soruggs ct al,
executors; ia error to the Supreme Court Of
Appeals cf the State IF Virgic;a. 10 this case
it is said that 10 the section Of the law Of 1867,
exempted fron the operation Of discharge 10
bankruptcy, debts created by fraud, are asso-
ciatrd directly with debts created by cmbtZzlc-
ment; aod that such association justiies, if it
docs tot ABSOLUTELY require, the conclusion that
the fraud referred to 10 that section means posi-.
tive fraud, or fraud 10 fact, involving, az docs
emo agIemcnt, moral turDitudo, or evil design,
aud not Implied fraud, or fraud in law, which
uay exist without the imputatioD Of bad faith,
CT immortality. Such q construction cf the
statute is most consoDant to equity, ard is con.
aisteDt with what is supposed to have been The
object and Intention Of Congress 10 cnac|iOg
law by which the honest citizen may be rcliev
cd from the burden Of homeless Insolvency. 10
this view CT the case Meals discharge 10 bauk-
ruptcy barred the claim against him 10 this
case. D&c,ce reversed with costs, and case re.
naadtd Tor further proceeding IN conformity
with the opinion Of the court
Amcag tic bills introduced in The House Of
Representatives, yesterday AID referred, was one
to so amend The Constitution Of the United
States as . provide Tor the election Of Presi
dent AID Vice President by direct vote Ct the
people, and to provide for second election
ftom among lie Two highest candidates, if
nciiher secures a majority Of the popular vote.
The Attorney General Of New York has
begun suit against the L1ug Island Railroad
Company for the removal Of MIR. Thomas Il.
Sharp, the receiver, and the winding up of the
corporation as lEsOlvcnt under some other re.
c3iver.
IL tho House Of Representatives, yesterday,
Mr. Hunton presented the petition Of 3. +.
Gsult for compensation for properly taken dur
ing tho war, which was referred to the Com
mittee on War Claims.