The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1885-08-27
The silver Question.

and important subject for
and worthy of the best eff
iorts eff the learned editor of the Re
publican, but it is hardly necessary to
. fair and full discussion of 1t, to in
1ulge in the pharisaical foolishness of
charging his opponents with being
ignorant of the definition of the most
common and simple English words.
Nor is it exactly honest, if there be
any wrong in continuing the coinage
Of silver, to assume that the Republi-
cans are entirely blameless in the mat
ter, as their former action will fully
That the Republicans
party is changing front on this impor-
tant question. and is going over, body
and soul. to the service of the money
of Wall street, is evident
by the following statement:
The Ohio Legislature of the winter
of 1877 was largely Republican in ma
iority, and it passed the following res
olution, with only one negative vote
in the Senate and three in the House !:
RESOLVED, by the General Assembly
of the state of Ohio, that common
to the tax payers, the letter
and the spiait of the contract under
which the great body of its indebted
ness was assumed by the United States,
and true financial wisdom, each and
all demand the restoration of the silver
dollar to its former rauk rs lawful
money.
This resolution was forwa rded to
Stanley Matthews, then one of Ohio's
Senators at Washington, who present
ed it before the Federal Senate, at
which time he also presented the fol-
lowing resolution, drawn by himself,
for adoption by Congress
Be it .esolved by the Senate (thc
House of Representatives concurring
therein(, that all the bonds of the Uni.
ted States issued or authorized to be
issued under the said acts of Congress
herein before reciteti (scts of March Is,
1863, July IA, 1870, January ii, 1879,
are payable, principal and lntert ST, al
the option of the Government of the
United States, in silver dollars OF the
cuinac of the United States, contain
ing 4l24 grains of standard silver ana
that To restore to its coinage such sill
yer coins as a legal tender in payment
of said bonds, principal and interest
is not in violation of the public faith
nor in derogatiOn of the rights of the
public creditor.
In the course of his speech, after
summing up all the obligations of the
Government and when issued, Senator
Matthews said:
Therefore it seems to me, outside
of all legitimate contention in this ar.
gument in respect to the obligation O
the Government, that all the bonds
issu sd prior to the act of 1869, and ali
the bonds issued directly under the
act of July IA, 1870, known as the re.
funding act, by their terms, by the
plain and proper meaning of the words
are redeemable as of right, in the true
and lust sense of that word, in the
coins known to the statutes of the
United States on those dates, either
gold or silver, according to the weights
and rates expressed In the statutes
then in force" "Hence, ac
cording to my construction of the
rights of the creditors of the country,
in order to keep ourselves in u position
to perform the contract according to
its letter and its spirit, We ought to
restore the silver dollar and keep it as
a part of our coinage just as it was be-
fore, without the loss of a particle of
its value as a circulating medium, q a
iuil and complete legal tender, ~ it
stood in 1878. when il was struck out
of the list, qualified according to the
ratio of its value to perform equally
with gold every function of money,
a lawful tender in payment of every
debt, public aud private. In this Way
and in this way only, are we able tU
keep ourselves in the attitude required
by the law and by the contract for til,
performance of the oblip ation."
Upon being questioned as to non
purchasing power of siIver as compar-
ed TO that of gold, Senator Matthews
made reply in these words:
1t can be demonstrated by an i'm
pregnable array of facts that silver can
today buy more Of every other known
product of human labor than it could
i'll July, 1870, gold alone excepted ;
lands, houses, stocks of merchandise,
machinery, labor. everything but gold;
here, elsewhere. In Asia, in Europe,
throughout the whole continent, no.
where, measured by the average price
of the general commodities of the
world, has silver del rsciated the
breadth of hair. On the contrary,
it has maintained its position.
The best and highest English author
tiles so affirm. So far rs our own un
happy country is cOnc+rned, we need
no proof except the personal expert
ence and personal observation of every
Senator on this floor. Who is there
that does not know from actual per.
s0nal knowledge of the fact That every
thing has gone down and that gold
alone b " gone up?" n Through.
oIt the world everywhere a most ex
traordinary depression in values eX
lists and there is no cause that prevails
a| generally as that effect. and adequate
To account for it, but the blindness oi
that cnnepiracy which has sought &c
eXalt gold as the god and king of mon
ny. IL il the decentralization of silver
in Germany, followed by practical de
mhnrtiZation on the part of the mem
bers of the Latin, union, and into
which We have fallen, that by taking
away from silver the principal part o
it's utility as compared with gold, and
bg investing gold with the monopoly
which does not. either by nature 0l
ny right, belong to ii; has given to it q
fictitious aud Il Fictitious value, so thai
everything expres srd to be payable in
money by being converted into gold
has added to it's value per centum OF
per centum, until it has turned ou
that the very best and most fruitful
and most profitable Investment tn n
ia these days man can make is t.
take his money and lock 1t up anG
k keep it idle and divorce it from enter
prise aud labor, so that by its mere
appreciation gold alone is to be
the measure, not only of all men. buI
Of all things"
We have in pickle a number of able
articles upon this interesting and i'm.
portant subject, clipped from our ex
changes, which we propose to publish
in the near future, pro bono publieO.
GENERAL GRANT to General Buck
ner: 1--WE may now we'll look for
ward to a perpetual peace at home and
a national strength that will screen us