The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-01-22
XLVTH CONGRESS--Second Session
WASHINGTON, January q, 1878.
+. CEN 4

SENATE.
The Senate resumed the consideration OF
the unfinished business, being the resoIu-
ton Of Dir. Matthews declaring the right Of
the Government to pay interest and princi-
pal of the bonds in silver.
Mr.. Jones of Florida spoke at some length
as to The power granted Congress by the
Constitution to coin money and regulate its
values, and argued that ut the time the acts
OF 1869 to strengthen the public credit, and
OF 1870 to authorize the refunding OF the
national debt, were passed, the silver dollar
was legal tender OF the country, and Con-
greSs had no power to exclude it from the
coinage OF the country. he claimed there
could DC no legal tender under the Con:ti
tuition except gold and silver.
He then referred to the argument that
Germany, England, and other European
countries had demonetized silver, and said
had 1t come to this that the policies OF Eu-
ropcn countries were TO control the Ameri-
can republic He had heard Of such alliances
before, but they were always to crush out
the liberties Of the people. 1.-The policy Of
demonetiZing silver began With kings and
emperors and ended with q republic. He
denied that it could be called -repudiation
to pay the bonds in silver, and said that re-
pudation was revolving to the people. He
then referred to the condition or affairs Mt
the close Of the late civil war, and said it
was necessary then for time to abandon
that system Of finance which existed pre-
yious to the war, but the necessity
had passed away, and now the cause
OF all the distress throughout the coun-
try must lie sought for in our present
financial system. He spoke OF the abun.
dant crops, and said the troubles and
f.ff hn
land were not brought about by natural
causes. They were the work Of man. He
showed at some length the various financial
acts Of Congress in regard 10 that Of 1869 to
strengthen the public credit, and said it
should have been called an act to increase
the burdens of the people, as 1t was intend
ed to bind them to the payment o. the debt
in coin. He hoped the purpose Of Congress
now was to lift up silver, the much-abused
metal, which God had d1crecd should serve
man as money. 1t had been argued that the
act of 1873, demonetiZing silver, was passed
because silver was not reliable, because it
fuctuated in value. He denied that this
was true, and said from the organization
Of the Government down to 1873 there
was legislation respecting coinage which
showed that there had not been any varia-
ton whatever in our silver coin. II any
coin should have been abolished on account
of being unstable in value it should have
been gold lie spoke OF the advantages OF
silver money, and said there was large
channel in the business OF the country
which silver alone could till. 1t was prac.
tically the money of the people.
In conclusion, he advocated the adoption
Of Mr.. Matthews's resolution because be
thought it was for the true interest Of the
country, though, OF course, he entertained
the greatest respect for all who differed
from him. 49,
The Senate adjourned till 1:30 P. NJ. to-
morrow to attend the mock-funeral Of Vic
tor Emanuel.
HOUSE OF REPRESENTATIVES.
7 Nothing was done in the House excep
the introduction OF the usual batch Of bill
for reference to committees.