The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1879-01-03
[BY TELEGRAPH TO THE oREeoNIAN.] ]

[BY TELEGRAPH TO THE oREGoNIAN.
NEW YORK, Dec o. At the New Eng
land dinner tonight SecretsFy Sherman, re-
spending to the toast 1.-The national faith
to be guarded as .watchfully as the national
| life" sail Public faith to nation is like
courage to man or like chastity to a wo-
man. It must be beyond suspicion. The
nation that will not observe it's public faith
when pledged is dishonored and ought to be
stricken from the roll of nations Nothing
| can excuse a violation of the public faith
except orerwhelmingne necessity, which knows
! no law. All of us will agree to this axiom,
but, as our Puritan preachers would say, the
difficulty is in the application. Questions
have arisen upon the construction of laws
relating to public Obligations, upon which
men have honestly differed; but one thing
was always clear and nndisputed-tha the
national faith was pledged to the payment
| of the U. S. notes in coin. The time when
| it should he done and this only was ques-
tion of public policy. The public faith was
pledged with the issues of the first note in
March, 1862. It has been repeated by con-
gress. by both political parties, and was
| made definite as to time by the resumption
act rejoice with you that the time is
near at hand when this plef fge is to fulfilled,
and when all our money will be kept equal
| in purchasing power with the best gold coin,
issued from the mint. It has been a hard ro' d
TO travel, but when we wtrs driven from
the specie STANDARD, by the necessities of
war. It was certain that we must return.
and that when we did it would be with
difficulty and suffering
We delayed too lohg the voyage; we
| wasted our resources in Improbable enter
pri ses and riotous living before our people
could be induced to attempt the task. Now
that it is nearly completed, it's maintenance
will be easy or difficult precisely as the bus
in ass men of the country, and chiefly OF this
CITY, make it, Congress, hitherto doubling,
| waits in hopeful expectancy the mainten-
| ance of resumption. The supreme court it
lis believed is unanimous in favor OF restor-
| ing coin rs the constitutional standard OF
money. The president Of the United States
will not only enforce the resumption act,
but has an abiding faith in its execution.
The powers invested in the treasury depart
| ment are ample to- meet all demands, even
, in extreme emergency, but I do not antici-
| pate any necessity for their full exercise.
Coins will be largely used in the ordinary
| transactions of business but other forms OF
money. strictly limited in amount to the
! sum that can safely be maintaiued at par
with coin will be freely paid and accepted as
IN ,ney III all transactions and for all de-
M, ,nds. The necessary confidence that will
depend very much upon men like you, who,
in tha great marts of trade, haadls the pro-
ductions or 7psr nsuole cnlsntss- lEsg ~ arc
guided by9fIie pubi, go,d 40 well as enlight-
eened seif-int ,rest. you will support the
policy of resumption. The notes OF the
| United States, like it's honds, will travel
with increasing credit the circuit OF the
| world. These: notes should be regarded,
not as heretofore. irredeemabie and depre.
ciated money. but ass the coin certificates OF
great nation, rich in mines, workshops
and broad fields, and richer still in untarn.
ished honor Every man should feel that
to aid in this is a matter Of pride; to OBJ
strnct it a just cause OF reproach. you
NAV be sure that the executive branch of
1.-The government will do its full duty IN
maintaining resumption. 1t will rest wltnl
the business men of the country to make =
the beginuiny of hopeful prosperity.