The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-01-19
Night Associated Press Report

HOuse-A bill was passed removing
the disabilities Of Charles l.. Scott Of
Alabama.
After an hour spent on private bills,
eulogles OF the late Senator Morton, OF
Indiana, were pronounced and the
house adjourned TIL Monday,
Nominations-A, ii. Pool, marshal
OF California; q, w, 4. Vernon, sur
vey OF customs, Baltimore; Frank N.
Wicker collector OF customs, Key
West George Williamson, collector Of
customs, New Orleans; George Baldey,
receiver of public moneys, New Or
leans.
The committee on Pacific railroads
OF the house elected Thomas $. Bell,
OF Virginia, clerk.
The senate IN executive session con-
tirmed James Il. Jolley, collector of
customs, Teche district, Louisiana /:
Lansford l., Lewis, attorney, eastern
district of Virginia.
Mr.. Conkling, of New York, pre-.
scented several petitions of the citizens
of Albany, New York, demonstrating
against the passage Of the Bland silver
bill, Laid on the table, the bill hay
ing been reported to the senate.
On presenting the memorials, he
said they were signed by men repre-
senting not only money and property,
but enterprise also, and they expressed
the opinion that the passage of the
bill would be prejudiced to the honor
and credit of the government. He
also presented the memorial Of the Al
bany board OF trade against the pas
sage of that bill. Laid on the table.
AT the expiration of the morning
hour, the senate resumed the consider
alton Of the unfinished business, being
the resolution OF Mr.. Matthews, of
Ohio, declaring the right of the gov
erhment to pay the interest and prin-
cipal of the bonds in silver
Mr.. Merriman, of North Carlina,
spoke In favor thereof He said the
subject was worthy Of the most serious
consideration, and he trusted u free
and frank expression OF views would
lead the senate to wise and whole
some conclusion. He would discuss
the resolution submitted by the sena>
tor from Ohio (Mr. Matthews), and
not the expediency of remonetizing
silver. He would never consent that
the honor and good faith OF the gov
eminent shOnld be impaired In the
slightest degree.
The naked question before the sen
ate was whether the government could
lawfully pay its creditors in silver of
the standard of value of July Ia, 1870.
He then reviewed, also at some length,
the financial legislation since 1862,
and quoted from various acts to show
that all the bonds issued were payable
in legal tender coin OF the United
States. When these acts were passed
there were but two species OF coins
established by law, to wit: gold
and silver, and as the contract
stood between the government
and Its creditors, the government
could pay its debts in both or either OF
these coins. The fact that there was
more or less of a particular Kind OF
coin in circulation when the bonds
were issued, did not effect the contract
at all. 1t had been argued that the
creditors of the government did not
have the silver dollar in view when
they bought the bonds, because silver
was not then in circulation. That
made no difference, the law then pro-
yided for the coinage of the silver dol
lar as well az of the gold dollar, and
had It been intended to exclude the sill
yer dollar when the bonds were Issued
why WAS not clause inserted for that
purpose?
That the government had the righ'
to nav It's bonds in silver was clear, anC
he could not see how any such actor
could be looked upon as reputation
He spoke of the business prostratior
aud suffering existing throughout thu
country, and argued that it was the eff
feet of unwise legislation. The finan
cial legislation since the war had beef
calculated to enhance the value OF thu
boz DIS of the government In the hand
of creditors.
In the natural order of things ate
the close of the war, specie payment
would have returned and prospelit!
existed throughout the country, bu
the interested bondholders could no
wait for things in their natural orde
as 1t was too slow. 1t was though
that a rapid contraction Of the pspe
? currency would restore prosperity, an
the early resumption OF specie pay
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