The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-02-27
THE SILVER VICTORY.
Its Extent and Significance.
[Chicago Tribune.l

OF the DaLlOD, ana IN spite OF the declared
opposition Of the most influential members
of the administration, the man principle of
reconciliation of the old silver dollar, CIV
ing it a full legal tender function for all
debts, public and private, has been decided
sffirmativeiy by more than two thirds ma
jority in both houses of congress. The
struggle has been long and bitter, and the
result notable triumph OF the popular
will over the desperate resistance OF the
money henderson, the country at large over
two or three money centers. 1t has at no
time been a party question, since members
of both political organizations have been
ranged on either side. II regarded section
ally, then the result is a fair triumph OF at
least thirty-three states over five, for only
New York, New Jersey, Massachusetts,, Con-
necticut and Vermont can be equitably
counted as against silver. III regarded from
a popular point of view, RECOMMENDATION was
demanded by at least ten to one OF the voting
population of the United States So far,
then, the congressional Endorsement OF the
principle is in accord with every theory of
popular government.
The story of this legislation may be briefly
told, though the discussion has extended
over period of many months. The double
standard was abandoned by revision of the
coinage act of 1873 which was made in 1874.
IL was so clandestinely accomplished that it
was not till two years later that ii became
generally knOWu lndL tue monetary SySCeIu
of the country had been radically changed.
Meanwhile many persons who had been
members of congress, and many Others otfici-
ally connected with the government, were
profoundly ignorant of what had been done.
As soon as it became evident to the country
that this legislation, in connection with the
resumption ac', was forcing futile but dis
astrous effort to resume specie payments in
gold alone, there was an instantaneous and
universal cry of halt" The first step to
take was the restoration of the old money
standard, 10 the abandonment of which the
people had never consented. Mr.. Bland, of
Missouri, introduced brief and simple bill
as long ago as last spring to restore the sill
yer dollar and provide for free coinage
thereof on the same terms and conditions as
the gold dollar. This bill failed for lack of
time before the expiration of the session.
At the beginning of the new congress bill
similar in terms was reported by the house
committee On banking and currency. and
has been known by courtesy as the Bland
bill 1t passed the house by more than
three-fourths majority. In the senate the
bill was so amended as to eliminate the pro-
vision for free coinage, limit the coinage of
silver dollars to 81, 100000 month, secure
to the government any profit that may
accrue from the purchase and coinage of
silver, and provide an appropriation for an
international commission to urge the general
adoption of the double standard. 1t is
this BILL adopted in the senate after an
able and elaborate discussion of several
months, in which the house has now con-
Cured.
The bill now passed received an actual
vote of 4S yeas to 81 nays in the senate, or
more than two thirds, and, allowing for the
known sentiments of the absent senator's a
full vote would have been 81 yeas to "a nays
also more than two-thirds The vote by
xrIf on h. - AoIl -
it came from the senate (which was the test
vote was 2O4 nays to ~ yeas, which was
nearly three-fourths vote in favor of the
vote. If all the absentees al would have
voted against the bill, which is absurd to
maintain, there would still have been more
than two-thirds majority for it. The bill
was accepted by the house. not because it is
satisfactory in its details to the silver men,
but because il provides a legal acknowledge
ment of the double standard, and furnishes
basis for making this double standard fully
operative by future legislation.
An analysis of the vote in the house
shows that OF the ~ votes cast against 1T so
were republicans and % were democrats
Among these there were onlv three weste IN
Minnesota, republicans, and Williams, dem
ocrat from Michigan. There were eight
votes from the south against the bill, viz:
Bisbee, republican, of Florida, Gibson and
Leonard of Louisiana, Jorgensen of Vir-
ginia, Metcalf of Missouri, Schlelcher of
Texas, Swain of Maryland and Williams of
Delaware. OF all the votes against the bill
New York furnished II republicans and 10
democrats; Massachusetts, eight republi-
cans and one democrat; Pennsylvania,
seven republicans and one DEM
ocrat' New Jersey, three repub-
licans and three democrats; Vermont, three
republican,, and Maine four repub-
licans. The extreme infiationists, un-
der the lead of Springer, of Illinois, and
Ewing, of Ohio, developed very little strength
in their effort to oppose the bill on account
of its shortcomings and this encourages the
belief that, il the bill be permitted to
promptly Become a law under the sanction
of the president, the greenbackers will be
powerless TO carry through their pet schemes
of an unconditional repeal Of the resumption
act and the substitution of greenbacks for the
| national bank notes. But if the president
interposes his veto, and that veto shall have
the effect of preventing the bill from becom-
ing law, or even the effect of occasioning an
indefinite and hazardous postponement OF 3
final settlement of the question, no man can
foretell the extreme lengths to which natural
resentment and justifiable indignation will
drive the representatives of the people.
The personal sentiments of the president
on the silver question have long been known,
| bat il should now be seriously considered by
him whether he has a moral right to place
himself in opposition to the people after it
has been absolutely demonstrated that they
are represented in this question by more
| than two-thirds in both houses of congress.
| IL the original vote were less than two
thirds, and il were a matter of doubt whether
/ the requisite constitutional majority could
/ be obtained to prevail over the veto. the
| president might justify himself in using his
/ prerogative, If prepared to give constitutions
al reasons for doing so. But the two thirds
/ vote has already been cast; it is not possible
that the president can urge any reasons.
constitutional or otherwise, that have not
already been ably presented and overridden
and to interpose his veto under these condi-
tions will be TO assume the personal respon-
sibility for all the expense. disturbance and
anxiety incident to the unnecessary delay a
veto will occasion. 1t is responsibility
which no one man should be willing to take
| upon himself.
MaherDia (oderata) is blossOming, and APP
paars in a few floral ehODs where IL ~