The interior journal. [volume] (Stanford, Ky.) 1872-1881, 1878-11-15
THE Congress of the United States

tHiVus tuhCttu INV ttilrihiNt wv
silver dollar ~ pari e the legal
currency aud making il fnr al purp".
ses the full equal Of gold. BY the lie.
monetizing act Of lS73-an act con-
cocted in the dark and its passage pro.
cured by false pretenses, by downright
lying. 10 fact-the silver dollar had
been condemned and hsni-hed frpn
circulation rs money, aud the holder
Of gold and Of bonds bearing coin in
terest thereby enormously profted. In
1875, the resumption act was passed,
the effect Of which was to make all
debts payable on and after January LIST,
1879, in specie, and silver being de-
monetized, specie necessarily meant
gold. So. hut for the remopetization
act Of the last session, resumption
would have to be accomplished upon
an exclusively gold basis, and its hard
ships thus n ade doubly intense.
The chief object Of the remonetiz-
ing act was to facilitate resumption, it
beirg plain to all sane men that Il
could be effected with more ease to
the Government add less distress to
the people by the use Of both metals
than that Of one only. The capital
lists, as il deligbting in human misery
not less than in pecuniary, gain oppos-
ell that act Of palpable justice with all
their combined power. In spite Of
their opposition the emphatic demands
of an injured people compelled the
Congress to undo the iniquitous work
of 1873, and to restore to them the
constitutional dollar. The opponents
Of this measure Of justice predicted
that great evils would result from it,
such as change of values in all COM
modities, great depreciation of Gov
ernment securieties and general finan-
cial confusion and decentralization.
These predictions have proven as
false as they were hypocritical. Hav-
Jog failed TO defeat the measure by
giving false alarm and by every 9TH
er means, fair or foul, which their
devilish ingenuity could invent, they
propose now to MULTI, its benefits by
by adopting course Of systematic
hostility towards silver money. This
new plan of war is set forth in an nd
dress just published, of the leading
Bank Presidents of New York. to the
Secretary Of the Treasury, and is as
follows:
ITO decline these deficient coins (silverl
when offered them upon deposit, to refase
them ia money in their commercial exchange
With each other"
Prohibit the payment Of balances on
the Clearinghouse In silver certificates or
in silver dollars. excepting as subsidiary
coin in small sums"
"To hold the same attitude in respect to
silver dollars that California Banks have
done RESPECTING legal tender note-, that is,
accept ia, m nnly when legally compelled,
dad deciiRe J'gfler commercial "h,dioas viii
ME eo@peLiing party"
Such is the cowariiy, insidious and
dishonorable attack that is to he made |
upon lawful money by King Nam
mon us announced from his throne in |
Wall Street. in which. as a matter of
course, all his little minions from the |
Atlantic to the Pacific, will promptly
ard heartily join. The silver dollar
is to I've demonetized, not by legisla-
ton, by ostracism. II is to be brought
into disrepute and put at discount by |
the ipse Dirt of money changers, who
are it, foes, that they may be aggran-
died. 1t l. to he slandered out of
respectable tnaDcial circles just as
many an innocent lady has been SIAN
dered out Of respectable social circles
by the Shiny tongues of liars.
The course proposed by these men
is practical notification. With their
immense power. derived Us II has been
from class legislation, they will be
able Ia neutralize to great extent, if
not to utterly destroy all the advanta-
ges that would otherwise result To the
Government aud to the people from
the free use of silver coin. The OBJ
ject of these sharpers is too obvious to
escape detection. II is to bring odinm
upon silver as a circulating medium
TO produce so much dissatisfaction
with it that its demonstration will be
demanded by the people. If they
can succeed 10 establishing a perma-
nent discount upon i their object will
he fully accomplished.
ALEXANDER SMITH, the Republican
elected in the 18th New York District !
to succeed the Hon. Clarkson n. Pot
Ter, who was not q candidate this time,
lived just long enough IN learn that he
had been victorious, when la turned
over. aud. with sweet smile playing
on his features. fell asleep in the
cold arms of death.
The body of A. Z. Stewart. the
millionaire merchant Of New York, I
was stolen from its vault in 81. Marks