Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1884-03-27
Necessitysof a Republican Congress.


Necessitysof Republican Congress.
The recent decision of the Supreme
Court sustaining the legal tender quality
of Treasury notes makes the election of
Republican Congress next fall 4 matter
of prime necessity. 1t will be under
stood that the court has not had under
advisement the policy of fiat money, as
that question belongs to Congress and
can never come before judicial tribu-
nal. The court simply takes the ground
that the authority to authorize the issue
of government notes and to make them
receivable for public and private lndebt-
edness is lodged in the hands of Con
gress and that there is nothing in the
Constitution preventing the exercise of
this authority at any time. This power
being conceded by the highest judicial
authority in the country it behooves the
people to be more careful than ever in
their choice of representatives.. A Con.
gIess favoring initiation will have the
| power under this decision to authorize
such an emission of paper currency as
would place heavy discount upon its
| face value, unsettle the values of real
estate and all articles of prime necessity
Danish gold and silver from circulation
and reduce matters generally to the con.
ditien prevailing from the fall of 1878
to the resumption of specie payments in
1879. We do not say that the court
would be blameable for such state OF
affairs. The fault appears to lie in the
constitution, inasmuch as it does moi
inhibit Congress from making paper 4
legal tender. While the present circula
tion of legal tender notes was authorized
by a Republican Congress, it is historic
ally true that the party in itself has
always been the answering advocate Of
real rather than representative money
the circumstances under which the so
called greenbacks were issued. Suffice
it to say that their circulation grew ou
of the necessity imposed by the war, anC
they form part of the debt imposed b,
the great Democratic rebellion. Wnil,
the Republican party has been the un
swerving advocate of a sound financia
policy, it has been invariably antagoniz
ed by its political adversary. Th
! | Dannoratio Darty haS dur;nu tba ,,s
; twenty years, favored all manner o
, financial heresles. 1t has demanded tn
manufacture of fiat paper money by tn,
ton, and advocated the payment of tn
national debt with irredeemable prom
ises to pay. For the sake of success
: would again champion the cause of fla
currency and, if entrusted with power
would swamp the entire business of tn
, country through the reaction which in
variably follows the imitation of value.
1t is an unsafe party to trust, PARTICULAR
in view of the recent legal tender deci.
! ion. The bankers, the merchants, an
5 all business and laboring men of Tn
t country know the value of well repr
: lated currency, and they cannot affor
: To place their interests in the hands of
= party likely to take advantage of til
the power which the court decides Al
pertains to Congress. Safety can oni
a be found in placing the entire legislatiy
r branch of the government to Republica
y hands, and the people will consult thej
$ own interests by electing none but Re
K publican representatives next fall an
J thereafter Cleveland Leader.