Savannah morning news. [volume] (Savannah) 1868-1887, 1886-01-15
SILVER LINED PATRIOTS.
SENATOR BROWN BURLS SHAFTS
AT THE BONDHO LDERS.


WASHINGTON, Jan. 14.-In the Senate
today MIR. Beck said that there had come
To him, he did not know why, several
tetitions to be presented to the Senate
urging Congress to suspend silver coin
age. He had declined to present such
petltions, and had returned them to the
PERSONS sending them to him. He had
pursued that course because he believed
fine sending Of such petitions had been in
Hgenced by q circular letter marked
"conddentiaP sent out by the committee
of the New York Board of Trade and
transportation. Mr.. Beck read a copy of
tae letter 1t asks its recipient to write
q pcrsonal letter to Speaker Carlisle urg-
mg him to refrain from placing extreme
silver men on the Coinage Committee of
the House Of representatives, and also
to write personal letters TO Senators and
representatives urging the suspension Of
Noiuage.
Mr.. Brown called up Mr.. Beck's silver
rosoiutiOn and addressed the Senate on it.
Ii would be unwise, MIR. Brown said, and
unjust TO the people to suspend the coin
age OF silver at present. So far as the
t0ndnOlders were concerned the medium
iu which they were to be paid had not
ualed in the bond. They were to be paid
in the lawful money Of the United States.
CHANGING TIRE CONTRACT.
AZ the time of the contract greenbacks
we're lawful money of the United States,
and almost the only currency. The bond
holders, however, many Of whom had paid
IN silver only 40 or 80 cents on the dollar
ior their bonds, soon went systematically
10 Bork to increase the value of their de-
gaSds against the government. They
ised the columns Of influential news
l8pcrs and the brains Of influential men,
~ secured the passage OF the act of
'G9 changing the contract aud making
ke bonds payable in coin without giving
ior that change any new consideration.
coin" meant gold or silver. But not yet
satisfied they soon had the pleasure of
seeing the refunding act of 1870 passed,
which prescribed that the new bonds
should be paid in coin Of the then standard
,Hue-the same standard as that Of to-
lay.
WANT THE EARTH.
To would be naturally supposed, Mr..
Gown continued, that this system Of
hanging a contract from time to time,
making it each time more valuable to
tae creditor, had been carried far enough,
od that the people would not be asked to
l1'uore than to pay in gold or silver coin
.au0riginal greenback debt worth 40 cents
10 the dollar. But not content even then,
1e next step was 10 demonetize silver,
lr if silver could be permanently de-
4p0aetized there would be effected re-
sdletion of the quantity of coin with
W1ich, under the contract, the debts
were TO be paid, and the value of gold
coin, the only coin left, would be greatly
\ slacreased.
THE PEOPLE WRONGED.
After the demonetizing act had been
essed, however, the people ielt that they
ad been wronqed and sent representa-
ives to Congress to repeal it, and to pro-
4 vide for a reasonable amount of annual
slvel' coinage. Since that time the cred
1 OF dass had failed to influence Congress
pms had been fortunate enough to continue
8 % receive payment in gold alone. Those
l@n had been receiving gold alone, while
zal other creditors Of the United
n ates had to take silver or green
#b2css. The result was that the
F.. 6l3s had steadily advanced until they
awere Dow worth 120 to l24 But the cry
a f3li was that the bondhOlders should be
s ealt literally with, and that taxes must
Increased in order to pay them better
Mcurreucy than other people. so as to keep
Z tue credit OF the United States"
s hen the per cent. bond was at par Mr..
f0wn did not care to tax the people to
4put tho credit any higher. The officers of
lne Treasury, he said, should treat all
lbBc creditors alike. If they paid the
9pdholders in gold alone they should
$dhe labOrer IN gold.
SHOULD BE PAID OUT.
Mr.BrOwn insisted that it was the duty
"a Fne Secretary of the Treasury to pay
nem,out to public creditors whenever
fnythlug was due and il that did not dis
ose OF them he should call IN enough
Donds on which the people are paying in
rest to absorb the silver dollars and so
mp the interest payments. II the public
EDITORS were paid $50, 900, 900 or 0,000,-
'o OF silver their endeayOr would be to
eep up the value Of silver. If paid in
'l alone their endeaYOr would be TO de-
rebate the value Of silyer-to make it
resent less OF property. IL it were
lo mat II was not honest TO pay them In
yer on theground that the silver dollar
ds n0t an honest dollar Mr.. Brown
9Ald reply that it was always honest TO
AZ de0t in the very currency which the
t0s1r by bis cOntracthad agreed to take.
SOR COMMON HONESTY.
De creditors had secured several sue
essiNt changes in the contract, and the
nlI3ct as 10 now stood was that the
fdHu' ers should be paid in gold dol
VA 't niANGt NOAlAEH AT LEN convenience
Too rea Jury. Though they had thus
0 % take payment in either gold or
e' hey were being paid m gold alone,
lao everybody else was paid in silver.
was neither fair dealing nor common
e'l Ever since the passage of the
jflS remoueuZing silver and d-
'0s t4e col lage OF S2,000,000 a month
nc1O.dcrs and sankers had been
a'enirg that All our gold would be
i'd 30 we did not stop coming silver
~ now eirht years since the passage
act and stiil according 90 the re-
oi the Secretary ofthe Treasury we
vince as much gold cOiu az silver
l 90 the country.
SOLD IMPORTS IN EXCESS,
i.most every year we had imported
t"id than we had exported. France
'fctmany had three times as much
N 'nucr h silver coin as we bad, vet
Hh,iF was several times larger
Hre countries combined, while our
Rlon was more energetic and enter
tIAh lhst of any other country In
'ilo. We had within the past i've
A years exported 5000. 900. 900
OF merchandise more than
ndd Imported. Those fgures
.ALta abum OF monoY which foreign
l"A paid us over and above the
."~e pl commodities, lnaamuch as
h lhe medium of setfltpgnt be-
EUROPE and America we would re-
tAkl Tor our European balances.
ntl commerce with China in tea.
HIIN NNrnvII uuN fHrtf. .s. ..r.. .r.f