The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-03-01

that they would be paid in silver.
The sum Of S225. 5000 Of those bonds
has been sold during my administration
for gold coin, and the United States re-
ceiyed the benefit OF these sales by re-
duction Of the rate OF interest to four per
cent. During the progress Of these sales
n doubt was suggested as TO the coin in
which the payment OF these bonds would
be made. The public announcement was
thereupon authorized that II Is not to be
anticipated that any further legislation
OF Congress or any action Of any depart.
ment Of the government would sanction
or tolerate the redemption Of the princi'
pal Of these bonds or the payment Of The
interest thereon in other than the coin ex.
acted by the government in exchange for
the same. In view Of these facts it will be
Justly regarded asa grave breach Of pub
lie faith 10 undertake TO pay these bonds,
principal or interest, In silver coin worth
10 the market less than the coin received
for them. 1t is said that the silver dol
lar made legal tender by this
bill will under It's operations be equiya.
lent in value to a gold dollar. Many
supporters Of the bill believe this,
and would not justify an attempt to
pay debts, either public or private,
in coin OF an inferior value 10 the
money Of the world. The capital de-
feet Of the measure Ia that II contains
no provision protecting from its operation
pre.existing debts in case the coinage
which II creates shall continue TO be OF
less value than that which was the sole
legal tender when they were contracted.
II Il is now proposed, for the purpose OF
taking advantage Of the depreciation OF
silver in the payment OF debts, to coin
and make a legal tender a silver dollar OF
less commercial value than any dollar,
whether OF gold or paper, which is now
the lawful money ofthis country. Such a
measure, it will hardly bs questioned,
will in the Judgment OF mankind be an
act OF bad faith. Asto all debts heretofore
contracted, the silver dollar should be
made a legal tender only at its market
value. The standard OF value should
not be changed without the consent Of
both parties TO the contract. Nation
al promises should be kept with un.
finching fidelity. There Is no power to
compel nation to pay its just debts. Its
credit depends on its honor. The nation
owes what ithas led or allowed its credi-
tors to expect. / can not approve q bill
which in my Judgment authorizes the
violation OF sacred obligations. The OBJ.
legation OF public faith transcends all
questions Of profit or public advantage.
IA unquestionable maintenance is
the dictate az well OF the highest ex.
pediency as OF the most necessary duty
and should ever be carefully guarded by
the Executive, by Congress, and by the
people. Il is my firm conviction that il
the country Is to be benefited by silver
coinage II can be done only by the issue
OF silver dollars OF full value, which
will defraud no man, and n currency
worth less than II purports to be, will in
the end, defraud not only the creditors,
but all who are engaged in legitimate
business and none more assuredly than
those who are dependent on their daily
labor for their daily bread.
[Signedl RuTHERFoRD R. HAYEp,
| President Of United StateS.
Elscutire Mansion, FEB. %, 1878.
The message having been read in the
midst Of profound silence, the Speaker
stated that the question was, will the
House, on reconsideration, pass the bill.
Mr.. Stephenson that l move the pre-
vious question. [Clappipg Of hands and
other demonstrations OF approval among
the members
The previous question was seconded
and the main question ordered.
| Mr.. stephens-I propose that by gen.
eral consent every member shall he per.
mitted TO have printed in the Record such
remarks as he may desire to make on this
subject.
| Mr.. Banks-I object.
Mr.. Fort--As this message is not TO be
printed, / ask that 1t be read again.
fShouts Of mo, no." from the friends OF
the bill
The Speaker-Does the gentleman de-
sire to have the message printed?
Mr.. Fort-I do not.
The Speaker-It goes on to tho record.
Mr.. Fort-I mean TO say that as it has
not been printed for our consideration, ii
should be read again tefore II vote is
taken.
Mr.. Cox, OF New York; object to
having it read again. 1t Is charges Of
fraud by fraud
Mr.. McCook-T call my colleague 10
order and ask that his words be taken
down at the clerks desk. [shouts OF
"Down, down, order, ORDER" from the
Democratic side OF the Chamber. II de-
mand that they be taken down aud read.
Mr.. Cox-I simply said that the mes.
sage ia a charge Of fraud by fraud.
Mr.. McCook-That was very improper
language to be used in the presence Of the
House.
Mr.. Cox--It was very true expires.
sion Of the general sentiment.
Mr.. McCook-1 insist upon the ques-
tion Of order.
The Chair thinks the gentleman (Mr.
Cox was not entitled TO make any re.
marks at all.
Mr.. McCook-But he did make them.
The speaker-The roll call has been
commenced and must be proceeded with.
Mr.. McCook-I ask for the ruling Of
the Chair on the words used.
The speaker-The Chair thinks the
language OF the gentleman from New
York out Of order. He had no right TO
use It, and the reporters were not bound
10 take 1t down at all as part Of the Con.
gressional record.
Mr.. McCook-That Ia all that ask
that it shall not go on the record. l
thought it singular expression for the
gentleman TO use.
The spsaker-The Chair did not recog.
nize the gentleman to make the remark,
Mr.. McCook-Does 1t go on to the
record.
The speaker-The Chair thinks Il
should not 20 on to the Record.
Mr.. McCoOk-yery we'll, sir. That is
all.
A vote was then taken and resultsd-
yeas 1896, nays 7S.
The last three votes were cast by Messrs.
Bragg, Cook and Kelley, all Of whom had
been absent from the House by illness,
but came in by unanimous consent TO re.
cord their votes, which they did in the
affirmative.
The Speaker then announced the vote,
and said In obedience to the requirements
OF the Constitution two.thirds have voted
In the affirmative, and the bill passed, the
objections Of the President 10 the contra.
ry Notwithstanding.