The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-01-18


II is significant feature of the silver con-
troversy that the party in favor " the silver
dollar comedies very nearly with the party
which opposes the resumption Of specie
payments. They clamor for the coinage
of silver. but large proportion Of them
do not intend that the metal shall be cur
rency after it is coined. All that they
want IS To lower the standard ac-
cordlng to which our paper money crcu-
lates, and thus still further to depreciate IL
The real issuo before the country is. there
fore, not SO muck whether we shall have re-
sumption in silver or resumption in gold
but whether we shall have resumption at all
\ proof that this is the vital point Of the
silver question is afforded BY the speech OF
Senator VOORHEES, of Indiana, delivered
in the Senate on Tuesday last. 1t was
devoted to demonstrating that coin never
should have been used at all to pay the
obligations Of the Government and that
grecnbacks and greenbncks only should con-
stitutc the national currcncv Here il
summary Of what the speaker and his party
demand:
They demand tho restoration Of the silver dollar the
repeal. Internationally. ~ the act of Jan IA 1879
connecting resumption ot snecie pavmen. IN Jauuar,
is7e that the national banking system be- removed aui
circulating medium ~ sufficient quantity be- provided
b, tie Hovcrnmtnt that tins currency shall be inside 10
legal tender in payment Of al debts public sni private
And then we have the usual threat Of the
terrible things which will happen If the
principles OF sound finance prevail.
! have no word OF menace to utter ON tbs foor. hut
IN behalf OF every laborcr aui every ~ tie soil
whom represent warn all such value their invest
mens that when these doctrines spousn are sought
to te enforced tlis air aud Will be oonyuscd u
AsonN AMI the ics OF liberty viii blaze forth again
heN did iou years ~ defence O the natural rights OF
man
The absurdity ~ denouncing as doe
trine OF dcspoti-m the honest payment Of
ones debts needs no comment and IL Is
lamentablo that senator Of the United
States should be guilty Of it, but the fact
that he is thus guilty alarms us more than
his threats. Reasonable men can hc rea-
soned with. hut 1t il in vain to argue with
lunatic- Mr.. VOORHEES, and all the rest Of
the advocates Of unlimited paper money
suffer under a species Of craze which denes
logic and arithmetic Knowing only that
the effect ~ the first greenhack issue wa,
to raise prices, they are sure that a further
issue would raise them again. and seeing
that the approach to specie payments ha.
been accompanied by a fall in prices. they
conclude that the only way To- arrest that
fall is not To- pay in specie. They have
neither eyes nor ears for any interest, but
those of people who have bought property
with borrowed money and the great multi
tudc To whom this money is owing, are in
their estimation only cruel oppressors. The
man who holds land or merchandise which
does not belong to him, is a suffering angel.
but the labOrer, the widow, aud the orphan
who have lent him their savings are en-
Titled to no consideration whatever. How
the dclu-ion j. 10 be- dispellcd We cannot
tell. We see. however, that it is widely
prevalent, and deplorc it accordingly.
Tho indications now are that the silver
hll VIII pass the Senate, be- vetoed, aud
then fail To receive the two-thirds vote
necessary to make II law over the veto. IT,
however, the result should be otherwise. aud
the bill should command the support of
two-thirds If both Houses OF Congress, we
may look 10 see Mr.. VOORHEES, and his
friends come II the front with their imitation
schemes. The question will then arise
whether the Silver bill shall he executed or
whether IT shall he suffered t. become %
dead letter, and it seems 10 Us that this
question may ~ well be answered now
You gentlemen who want the silver dollar
restored, do You mean to Use it after you
got il, or do You not That j. what you
ought - tell the country at once.