The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1879-12-17
Chicago Tribune [Rep.l

I Chicago Tribune [Repl
"rhe Presidents recommendation to Con-
gress to suspend the coinage of silver dollars
is an evidence that his opposition to silver
is as relentless rs if there had been no ex-
preston of public sentiment. He opposed
! the restoration of the silver coinage; he urR-
ed that if the coinage of silver was resumed
it should not be made a legal-tender, and
especially not legal-tender for 80 much of
the public debt rs was issued after the de-
monetizat.on in 1879. Popular feeling,
however, prevailed over the Executives
objections and the coinage Of the silver dol
I lar was restored. The President vetoed the
7 bill, and the veto was promptly overruled
/ The President has, however, never yielded;
/ the whole power, force and influence of his
Administration have been persistently eNar-
/ cised To depreciatc the silver dollar to dis
courage its use, and generally cultivate a
sentiment in favor of an exclusive gold
coinage. His present message is of this
character. The recommendation 10 ssus-
pend the coinage of silver dollars is practi-
cally to again demonetize it. The net of
1873 suspended the coinage of silver dollars
and the act of 1873 simply restored that
coinage. Practically the President proposes
To again demonetixe the silver dollar, and
against that there will be an almost unani-
nous popular protest The President claims
that if the coinage of silver dollars goes ou
the gold will leave the country The Pres
ideut said that in 1877, aud Secretary Sher-
man and all the banks and money-lenders
said the same thing. They said even that
if silver was remonetized not a dollar Of
gold would ever come into the United States,
that the Government would not be able To
sell bond; and that generally the country
would go to the awful bow-wows and re-
sumption Of specie payments would never
l. l..
now? The Government has since then issued
800. 900 of four per cent bonds, the
principal and interest of which are both
payable in silver at the option of the Gov
eminent. The absurdity Of the statement
that gold will rush out if silver coinage goea
on ought to be plain even to the Treasury
Department, Why does the gold flow into
this country, and why does it Aow out? II
has poured in, and is now pouring in, 10
pay the balance due US on our export and
import trade. The receipts Of gold from
without increase or fall in proportion TO the
rise and fall Of this balance OF trade. So
long as the balance is in our favor the gold
will come hither of necessity. 1t can't ho
stopped, even if we coined "A million Of silver
dollars a day. The moment the balance Of
trade changes and is against us, then gold
will 90 out to pay that balance. 1t can not
be stopped by demonetizing silver. Ii will
to the same law which now brings it here.
This balance of trade may change at any
time; large crops in Europe next year might
be sufficient to effect such change and when
it takes place the gold will 60 Its coming
in and its going out, therefore, can not b.
effected one way or the other by the coinage
of silver"
Chicago lnter-Ocean [Rep,l
Whatever the personal objections enter
tanned by Mr.. Hayes to the Greenback cur
rency, the present is a most inopportune
moment for airing them. We are on the
eve Of Presidential contest, where the
questions OF national supremacy and rnr-
sOnal liberty seem likely to be permanently
decided. The Republican party, which has
lost ground for a number of years, appears
once more united aad strong, and with she
one great issue before it would sweep the
country next year. To distract it now, To
introduce disturbing questions in the ranks
at this time, is not only unwise, but utterly
ineXcusahle. The President does not feel
the pulse of the country correctly if he sup
poses that an attempt such as be suggests
will not awaken a storm of protest. Tho
proposition at this time to retire tho green
back currency will not be countenanced or
tolerated. Congress will oppose il as the
people oppose it,, and that without regard to
individuals ideas as to the strict legality Of
the lega-tender act, on the broad and gen
eral ground that this is not the time 20
agitate the matter"