The daily gazette., 1880-01-15
Frank Ta.k about Finances.
SAMUEL TowNsENp's OPINION OF FL
NANCIAL. .LEGIsLATION.
To fbs Er,Yifov nffLe Gazeffe.


SAMUEL TowNsEND's OPINION OF FL
NANcIAL. LEGISLATION.
To the Editor ofthe Gazette:
have been shown petition that Is
being handed around to obtain sigma
lures 10 be presented to Congress, sus-
tanning Mr.. b yards bill now before the
Finance Committee OF the Senate, pro-
posing To repeal the legal tender act. l
do not know that 1t Is particularly neces-
sary al present for Congress TO waste
time on that act. In fact, If Congress
you'd let nine-tenths Of their Rratutious
legislation on the finances of the country
alone 1t would be far better for the peo-
pie. The working people Of this coun-
try-the farmers aud mechanics-have,
by hard work and rigid economy and
the good luck Of having good foreign
market, put our country on Its feet
again, and the lawyers, (for Congress Is
composed In Dine-teDths of lawyers
non producers), II they would attend to
other business and let finances alone, the
farmers and mechanics, merchants and
tradesmen would take care of the
finances of country themselves.
The Democracy Of Delaware, In State
Convention, laid down platform on
finances as follows: A gold and silver
standard, and paper to be convertible at
thu will of the holder at any time into
either gold or silver.
Mr.. Bayard contended for gold alone
as the standard, which was not IN har-
mony with the old Jackson idea, or the
present Delaware Democratic platform.
criticised the course of our two Sena-
tors on this matter, as Mr.. Bayard vota
one way and Mr.. Salisbury the way d.
rectly opposite. The Dover Deidpdredn
came out In short paragraph, saying
that the votes of Mr.. Bayard and Mr..
Salisbury were in perfect harmony.
This explanation was about as sensible
as 1t would be If Two ships run out of
the capes of Delaware and out of sight
Of land and one hauled round due
north and the other due south, stern
to stern, sailing in the directly opposite
course, but at the same time, as the Del
daodredn says, "acting in perfect har-
mony." That dust might shut up some
persons eyes, but precious few.
Now, supp Sc certain kind
of paper was made legal tender during
the war,-does 1t do any harm now
when it can be changed for gold or sill
YER? There Is not too much money
gold. silver and paper, all together, al
present. Therefore why not let 1t alone,
aud permit the trade TO regulate itself
Are not coppers and pennies made q
legal-tender to double the worth of the
copper, and are not bonds and notes a
legal-tender Of the person who issues
them as far as he Is WORTH
When the Rebellion broke out Secre-
tary Chase tried TO carry on the war
with gold and silver, and soon ran
ashore, and everything would have had
TO come to stand-still If it had not been
that the government made a legal-tendei
Of certain paper, which they issued and
the great mistake was that they did not
issue enough of this money, and should
never have issued government bond.
Then the debt would have been at
home. If Congress, tomorrow, would
repeal the legal tender act, and solemnly
declare that there never again should be
legal tender act passed, 1t would
amount to no more than idle wind, for
when all or part of this present Con-
gress were dead and If an emergency
arbse for need of legalizing certain
paper or even oyster shells as money, they
would do 1t, and the people would take
it for whatever amount was guaranteed
on the face of it by the Government.
or course the Government would have
to protect said legal tenders, whatever
they issued-even II they had to put a
clause in the legal tender law, making
1t death to counterfeit such legal ten
ders.
Lei Congress find something else to
do and let the legal tender business
a'one. Ii it is thought best by traders,
merchants, farmers and mechanics to
let the legal tenders die and pass away,
let them do so. SAMUEL TOWNSEND.
Townsend, Del, Jan. IL, 1880.