The advocate and Topeka tribune., 1892-12-07
MONETARY ooMM1ssIssIoN.
iContinnled fronl pd0e 81

they have been disappointed In WHEY mas
since happened, it is in the fact that sill
YER has become the cheaper metal. They
always knew that the United States had
the same option Of paying in the cheaper
metal which they had themselves exer-
cised in purchasing. They may be some
what disappointed to find that this OPP
tion cannot be taken away by any
Legislation subsequent to the dates Of the
contracts which they hold, and that the
step from coin to gold is more difficult
one to take than the step from currency
to coin, for which the congressional reso-
luton Of March Is, 1869, seems to have
been sufficient.
The attempt to frighten the govern
n1ent from exercising its undoubted right
to pay it's bonds in the cheaper metal, by
proclaiming that il it does so It's honor
will be tarnished and it's credit impaired
at home and abroad, is unworthy Of con-
sideration. The punctual fulfillment to
the letter OF all obligations is the surest
and best support Of the credit of any
country. Itshonor can rest permanently,
in peace and in war, only on the patriot
ism Of it's people, which is sure to be
weakened if their substance is taxed to
pay premiums for the applause Of it's
creditors. The United States is the only
nation that has never made default in
it's promises. 1t has never failed to meet
punctuslly and fully all it's obligations.
It is nearly hundred years since it's gov
ernment was formed under the existing
constitution, and if it has not acquired a
perfect credit by the scrupulous fulfill
ment during that time Of all it's obligs-
tions, it cannot hope to acquire such
credit by anything that it can do here
after. Within that time it has seen the
strongest governments in Europe make
default in the payment of their obligs-
tions. Even Great Britain, for many
years during the present century, paid
the interest Of its public debt, large
proportion of which had been contracted
in coin, in inconvertible bank notes,
whose depreciation reached sometimes as
high as 30 per cent. While nearly all ma
tions have on various occasions met their
obligations in money less valuable than
they agreed to pay, the government Of
the United States stands alone and pre-.
eminent in the generosity and in the
folly Of paying in money more valuable
than 1T agreed to pay. The only COM
pensation which it has received for the
added burdens thrown upon its citizens
by an oVer-performRnce of its contracts
is the interested praise Of those bene-
fited, which is as insincere as it is inter
ested Those who obtain an unjust
advantage have real contempt, however
concealed, for the weakness that con-
cedes 1t. That sensitiYeness, so morbidly
manifested by some in respect to the es-
timation in which this government may
be held by it's creditors here and abroad,
and their Indifference as to the estima-
tion in which it shall be held by the great
mass Of its own citizens, instead Of being
evidence Of proper national pride, is an
exhibition Of weak and puerile vanity.
That sentimental idea of honor which
requires the abrogation of the plain
terms of written contract by one Of the
parties to it, against its own interest and
at the demand of the other party, while
suited to youthful fancy and refreshing