Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-03-30


tender u payment Of ali debts. public and
private. except when otherwise expressly
stipulated. they are receivable for GUS
toms. taxes. and all public dues when
held by banking associations they may
be counted as part OF their lawful re-
serves. and they are red semed by the
government iu gold. at the option Of the
holders. These advantageous attributes
were deliberately attached 10 these notes
at the time OF their issue they are fully
understood by our people 10 whom such
notes have been distributed as currency.
ana have inspired confidence in their
safety ana value, and have undoubtedly
thus induced their continued and content-
90 use ass money, instead Of anxiety for
their redemption.
STATEMENT OF OBJECTIONS.
Having referred To- some incidents which
I deem relevant 20 the subject, IT re-
mains for me 10 submit a specific state
maut Of my objections 10 the bill now un-
der consideration.
This bin consist Of two sections ex-
Guiding one which merely appropriates
q sum sufficient TO carry the act into ef-
feet The first section provides for the
immediate coinage Of the silver bullion in
the Treasury which represents the So
called gain or seigui0ragc. or which would
arise from the coinage OF all the bullion
ou hand. which gain or seignioraee this
section declares to be S55,156GSl. II directs
that the money 50 coined or the ccrtiil-
''''' '''"'' VIZ, 'o'' sun ~ u9ei ~ .Ie
P"' '"'"' W t"""0 'NPo'N'. - a.'u piV.
WIS 'i''' ~, ~, 10 ~ ,ti0 .'' ',u' ,
'''v ',.,,i.. ~, 'i'V
't'"i -, ga. IN - 80 -. - -
3t.., l.... 80 '.,,,,,'il,,',,. 49, cot,
SCOT ION uIfi1riIst ia la coined
,r,-. ...'.l,,,t ......,,, ,1,,.c,, ,ha, nc coon
, ,...,,,s... a., In. - ,,,t'' ,.oi.,,-
,,it ia
l'I'~' '"' REMAINDER "' IA" "ulI'H
,' ,''o ','' ''''.','' ''.''' ~, ,I3i
-'' .1'. -.
".' '"S H,l'', ~ rt'....,.,' 80,
.'' we "F''"', W ',, ,, 7,
." i' -, -,
..., .' , a. I',.,,i - s'.tJ r@t"e
IN ~. -, ,,.t''.,,,d t',, ,b,II h1
,...., a., ,..,,,,,,, Ill
.t,, ,,',.i ~. 80. In, a., ,bo ,r,,no-
. -, ,,',,, ,to cotns,, rro,,ide,l
g., .,,I tb,, su,.., certi6r,tss Shall he
t.'t 80, s,,cb c.t, in Tho manner NOW
.......i.1 t,i,., f. T., to,,..,.er een.ciallv
l,.li.,.i -; r.,t, ...,,o, hat tho or, ehail
''' -, .,', ,,t.,In, Iau,.
..,.,t.., g.. ,t,a ,o,,,i -, cbaracter ar
-. r. ,,,,a+n,.,i., as ,bo rro,s,,,v rotoe
20 a. su,,or
,i. ,c3
,r,,.. MI. ,.,l H. most unfortunately
c..,',,,,,,,I Nc,,iv e[erv sentence pre-
s.,'.. ,,,,.,rt.,i,,,, and in,itcs controversy
.. H., i,s ,nnanin,- and intent. The FIRST
..,,i..,, a.. ..erociaII, f,,,lt,, i, This respect
.,.I a. j.. .,tr.,r.i,, d,,Ltf,l ,rhotber its
,..,,,,,,,,.' ,.,,i Uni, IN. core,,nmation
,.r i,s .,,,,,,end r,,rrne.s ann led to be
.,.,,..,r. 80 a., hi,, In
L
'"',' ''' ,i,,,' '' ~ i..i,,,,t,,, ,ro
,lt..,,i.,..,, &C :, j.. caurd INTO
standard silver dollars; and yet there Is
/ positively nothing IN the section 70 pre-
/ vent Its co1nafe INTO any description OF
/ S.Nef COINS 40" ""'l"ii@,i ul'l'l @ si,S
J eN'9Uhs law suppose ms SeJU0'l vas
a''' '"''"'tl d. III '''' ''' ". WV WV
+ treasury '"il.d Tor MONEY 'lNlei man ',ie nv
4 S'lt",'iise '"'noii 0"u'i a. e','' '''''iS
( council 10 p'iin.' 'ie 'NH''' oi S''eei w.,
,i'''d''S H' "'1 1"'',' VI SN~" O0.'',+, '-,,, ,to
IL" '""""'tV "'"'" '.a' 80 - ''','
/ l-H"d'''' "' ."," 49,, ~. ,',.'
10, '''N~", ~, - 80 ......,, .,,
't'i ~ ~. w. ,,... ,,r,,,.,,,,, ,rfo do.
~ s..,i'., ~, c,ner,.s,
., ...t .f,i,.... ,lif,o,
,i.i.o,,,,, owl
,.,...,,.,'.. !, ,n,, .,.,rt + am, clear maj
nm. ,r.s.nf perul.xiti.s ana cmbarras ss-
,,.,f. of The SECRETARY of IN. Treasury
,,..,,., ,,,t o., t, .,,,,,,,.nt.l tv davoIvin.,
80, i'i,,, t,. ,,..,,,i,,, ,.r a. law, "a nm
r.'r,.,i, and c,nf,.rJ
80, rnt ,,uIin, boyvaver IN rest my
1,'t''..'.n E, nj. s.cti,n solaly ON tbesn
,.,...,,,.ts. d., ,,,. i,,do,,.rt ao,pd finance
4....., 49,, C,,,,,,,..,,5 d. f,rth., infusion Of
,1., i,,,., ,,,, ,,,,ro,,,.,. az This finn. nm
/ a..,..,r,,.ni.d Ly further aJenIat. nroyi-
sion for the maintenance. i'm our Treasury
of ID s,fa gold reserve
.,,. .,,....,,.,,
-'''
Doubts also arise as 70 lhe meaning
| ana construction oi the second secuoh oi
| inc Dill II the silver HoHdlS thticih dl-
iectcd 10 he colhel are as ue section
/ provides. 10 De- held IN IN" IieaSury loi
| redemption or Ir asuIy notes IL IS sug-
scstei that strictly speaking. certificates
| cannot be issued on such coin 'ln IN,
manner now provided by law because
these dollars are money held in the
| Treasury for the express purpose OF re-
/ Gccmiug Treasury notes on demand
/ which would ordinarily mean that they
| were set apart for the purpose OF sub
stituting them for these Treasury notes
| They are not, therefore. held in such a
| way as to furnish basis for certiii-
| ncates according TO any provision Of eX-
| isting law. II, however, silver certin
| Gates can properly he issued upon these
dollars theIc Is holhilE III ule sectloI
| 49,. - ,hoe. cortidcato. II thav wer,
-. 20 M came character as silve,
..,No,t,s in circnlation undor cvIstinr
! -. ,,.o,,il al best bo racsivohl.
- 90 o,,st,,,s taves and an nuhli,
my W. - ,,o l.,,,,1,.o - ~,
N".s, "',' q, d, to cav tbn least evtroroo.
'l""' i" :" ,'to,t'rr ,Io o.r,icoa,o.' /,
no"',,.' t..'.. ,,a,,id ho Iau,f,,iI,, rocoi,.o,
, Trr e,cb ,,,rnosos
| e'v" ,.,.i.',.o. oIso nav, bo cold ~ tho IN
e.n,nt,,i.s ~ cvnression i'm tbis hin the,
o,..at,,i,. o,,cbt NOT IN hc found In lecis
S',,'r .'e,actinr subjects so irnnortant ant
.l,l,,t,,c, oe onr finances ana chr
~ ~I"i s,at,roe otber and moro i'm
49,, rooeons for my disapproval o
| tbi, sac,io, I shall however. assume tha
n"dor its provisions the Treasury note,
| t.s,,od In rovuent for silver bullion vii
| oo,,in,o ~ be redeemed as heretofor,
| in silver or gold at the option of the hold
| ,rs md mat If when they are presented
| for rodernptlon. or reach the Treasury II
auv other manner. there are in the Trea
| sury coined silver dollars equal In nomi
| nal value TO such Treasury notes, then
! and In that case. the notes Will be de
| stroved and silver certificates 10 an equa