The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1880-09-15

Let MS briefly recite the facts:
On the 18th Of July, 1876, Mr.. Ian
ders, (DemocraD, of Indiana, who, by
the way, Is the candidate of the Democ-
racy of that State fer Governor, in this
canvass, introduced an amendment TO a
pending measure as follows:
I f" Ind Drorided further, That the Secretary
/ of the Treasury is directed to authorize the
coinage of standard silver dollar of the
same weight and fneness as that in use
January ], 1861, and that said dollar shall
be a legal tender in payment Of all debts,
public or private"
Mr.. LANDERs, of Indiana The House
can clearly see my object in introducing
this amendment; il is couched in language
so plain that no man can fail 10 understand
it. My object is to restore the silver dol
lar to its proper position. the position it has
occupied ever since 1872 until BIZ the action
of Congress it Was demonetized in 1873.
The creditors of the Government inyari-
ably took their option. They bought our
bonds with Treasury notes when they were
not worth over fifty cents on the dollar !
l am not complaining OF that, because II
was the law and when man lives up to
the letter of the law there Is no ground for
complaint. But the debtor class has an
option in that law. They have right to
pay those bonds and the interest on them
either in gold or silver coin. Now it is
clearly to be seen that the object of this
law of 1873 was TO deprive the debtor class
of that right; and it IS for that right | am
now conteuding. / contend that the right
which was taken from the debtor class by
the act of 1873 should be again restored to
them.
Did not that act repudiate the contract ?
Did it not say that the debtor should not
have the rights that belonged to him under
the contract? And isnot that population =?
1t is of the same class Of legislation rs that
of 1869 The act of 1859 was a repu-ia
ting act. 1t repudiated the contract and
said that the bonds should be paid in coin,
which under the original contract should
have been paid in lawful money. 1t said
that hereafter they should be paid in coin
alone. And now because one kind OF coin
il depreciating in value this bond holding
class is not satisfied with the first repuda-
ton act, and declare that such silver coin
shall not be regarded as money
The object of this amendment Is to pre-
vent this second outrage and act of repudi-
alton. Now if the debtor class has a right
to pay their debts in silver, will this Con
gress deny to them that right? If they
have not that right. and Congress should
say that silver is full legal tender, it is a
question for the courts to determine and as
AZ a matter course they are always open to
decide such questions. From the legIsla
ton OF the past it would seem that the
debtor class haye had no rights here. Shall
this thing continue Are your constltu
ents all creditors Mime belong 10 both
classes.
But the gentleman from Ohio, (Mr. Gar
field, dwells on the fact that silver has de-
clined in value. Now, when a contract has
been made and parties bound by it to pay
debt either in silver or gold coin at its law
ful rate ak + it Is any fault of the debtor
if either Of these commodities decline in
value before the debt falls due | never
heard that question raised before. Suppose
contract to be made to pay debt in
wheat or corn and the price fixed is the
standard of certain number of pounds to
the bushel, and when the time for delivery
arrives grain has declined in value, would
any sensible or honest man say for that
reason more pounds should be put into the
bushel to pay the debt? There Is just as
much sense in one proposition rs the other,
Certainly your contract Is not to pay in the
precious metals at what they are worth at
the time of payment, but to pay in them at
their value when the contract was made,
and it would be as much an act of injustice
to the people to change that standard as it
would be TO the bond-hoiders should they
appreciate its value.
Here are some extracts that are worth
reading:
Mr.. FoRr, of illinois, g In
1878 the law of eighty years standing by
which silver dollars had been made legal
tender was repealed. / ask the gentleman
to search the records and see if that ques-
ton was ever discussed in Congress. No,
Mr. Speaker, it was put through under the
suspension Of the rules at the bidding OF
the bond-holders, and, the Congressional
Record shows, without even being read to
the House OF course | was not here at
that time but l have examined the records,
and state that so far as they show, the
House wac lius a3gised that this old, time
honored law was even tG he InOaipel to say
nothing of its being repealed by the theu
pending bill.
This mischievous law repeating the legal
tender quality of silver dollars was stolen
through Congress as ] believe, by being
hidden in the body Of Tong bill peofess-
ing only to modify the coinage laws, and
was not discovered by the good men who
were on guard here then.
Mr.. Speaker, in my humble judgment, this
is the most gigantic scheme ever organized
has been set on foot all over the world by
the Rothschilds and others If The creditor
class To double their own enormous wealth
and double the debts of the debtor class
The promise to pay is so many dollars, and
the value of the dollar doubled, and vet
have the result as stated. Mr. Speaker, why
is 1t that our couHtrymen of all other peo-
pie, are to be the greatest losers by this
unhoiy sehenie7 Why is it, earnestly ask,
'"Av ioin the conspiFatofs, and help
InaC -. '-~~~'>d noorandize the
money kings of Europe?
AIR. GARFIELD
Opposed the amendment of Mr. Landers,