National Republican., 1883-12-06

whether Of law OF fact, interfere with such
execution.
Mr.. Morrill, then addressed tho senate on
the bill introduced by him relating to
the coinage He said that the present unsatis-
factory condition of our gold and silver coin
age appears so pronounced as to demand the
serious ana early attention Of the senate.
Though nominally representing the double
standard, their relative proportional value is
a fiction too gross to endure and when the
fiction oxplodes, as some time IL must OK
plOde, the heaviest loss will fall upon those
least able TO bear IL. Our silver coins, and
all the minor coins arc practically nothing
moro than tokens, representing values re.
ceivcd for them much above their actual
value.
Tho present actual value Of the silver dol
lar is S5I cents, instead OF SO cents in 1873 at
the start OF compulsory coinage; and we are
daily doing all we can TO depress its value at
home by laborious additions to the enormous
pile in tho treasury, until 1t threatens to
topple ovor, carrying with it its false and
fiimsy scafiolding Of equivocating silver GER
tifcstes, which, when redeemed, must be re-
deemed in a metal Of quito another color.
Silver will not be accepted for certificates
while anything much better can be had.
The accumulated tons Of silver dollars now
held by the treasury are conspicuous over
production, reorganized, distrusted and
avoided by everybody.
We are compelled to seek and to use at least
$24,000000 of revenue annually, with an OPP
tion which allows the use Of $4,000, 600 above
all that would otherwise be required, in order
to perpetuate tho colossal folly of boarding
3,455 tons of silver dollars, 742 tons of frac-
tional silver, and 140 tons Of silver bullion,
rs useless, oithor to the government or to the
people, as the buried treasure of Capt Kidd.
1t may be falsely supposed that the large
accumulation Of silver dollars in the treasury
is there for the redemption of outstanding
silver certificates but not one Of these certifi-
cates ever has been or ever will be presented
by the holder for redemption in silver. They
will all be tendored at tho custom house,
instead Of gold, tho first, moment our
exchanges feel the shock of an adverse
balance OF trade, or whenever there is
an excess Of imports over exports,
and then the real difference between the
standard of our gold and silver coins will
become painfully manifest. We are bound
by law to accept and receive silver certificates,
IN violation Of our pledged public faith, as
the equivalent of gold, at the custom house.
When the contingency occurs exposing
the hollow truce existing between our gold
and silver silver standards, gold will become
fugitive and sink below the horizon, and a
hickering single standard of silver, whether up
or down, will become dominant. The disastrous
effects thus to arise cannot fail to disjoint our
whole commerce, and will invade the home of
every wage-receiving laborer Of the country.
Failing to keep our proper share of the
products Of our own gold mines, as well as
silver all the evils of o suddenly deprecated
currency will be sure to revisit us, and with
proclamation that they come to stay.
Mr. Morrill, then reviewed at length the
history Of the coinage from tho irst coinage
act of 1872, and showed that while gold had
hut a slight foothold in our country from
1902 to 1884, silver had as little from 1887 to
1853, aud then referred to tho history of the
trade dollar. He said that there are in cir
culstion, at the present time 500, ,953,7s0 of
our silver coinage There arc also $141, ,337,-
533 more in the treasury. which the govern
\ ment would be only too glad to unload. Half
'Ss much of fractional silver, and about three
times AS many silver dollars are now in the
treasury as are held by the people,
Mr.. Morrill, criticised the lawsby which
The designs aud devices of the mint are lin
tied to those of eighty years ago, and said
that our coins should, from their size and
character, be easily distinguishable whether
by sight or touch, one from another, and
there should be no silver or nickel coins
which, by being gilded, would simulate and
pseS Tor gold.
He urged higher real value in frasiienSI
silver coins, or restoration t9et}6{ 8 Serties
which which they held until d1s -, and the
nickel 81 ssln" substitution OF not pan two mills
lie concluded "a follows: .w
- Beyond all these points, let me urge that
our coins in aptness Of design and perfection
of artistic execution, shall not be inferior as
they ooniessedly are, to any foreign examples,
hnd certainly not inferior to the ordinary
work OF the best silversmiths or goldsmlths.
Let us have American coins so good that the
people will be willing to work for them, and
gladly carry them at their own expense,
without asking FREQ transportation from the
government
The Greeks and Romans left no monuments
illustrating their career more permanent
than their coins. We have tremendously
deposited in the corner stones of many large
edifces specimens of the United States coins.
Should these ever become visible to distant
posterity, will they be likely to reflect much
honor upon those who have thus challenged
future consideration? The rapid extinction
\ going on in our pu blic debt, and the wonder
full growth Of the country in population and
\wealth, indicate that our great seaport
on the Atlantic, and possibly another
on the Pacific, may ere long prove to be an
aggressive competitor for the controlling mon
ctary power of the world. Producing all the
silver and gold that we require for domestic
use, with large surplus to supply the de
mands Of others less fortunate, may we no
declare In Cromwellian phraseology, "that II
the beauty of mechanical execution the coin
of this nation should not be behind any
nation 2" And, therefore, let me urge tina
hero and now Is a proper time and opportu
nifty for some action creditable to the govern
ment, worthy Of congress, and such rs viii
have the lasting approval of tho people.
Mr.. Morgan offered q resolution, which wa
agreed TO. instructing the committee on In
dian affairs to inquire into the policy anc
expediency Of creating o military academ.
west of the Mississippi river for the training
and education of Indian youths and men n
to proper age as soldiers and to admit them
when qualified, into the regular army o
enlisted men.
Mr.. Hoar introduced bill concerning
federal election. 1t provides for the use Of
certain specified form of patented ballot bo!
and counting device, and requires al
balloting and counting of ballots to b
done in open meeting, the meetin
not to be adjourned until all bal
lots arc counted and the result public
reclaimed in such open meeting by th
officer in charge, which officer shall be
United States marshal or supervisor, who sha
be custodian Of tho boxes, &C., as the repre-
sentative Of the attorney general who sha
have primary charge of and responsibility fo
such boxes.
A message was received from the Presiden
and, upon the conclusion of Mr.. Morrill,
remarks, the senate went into executive SCI
sion, and shortly afterward adjourned.