Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1894-12-21
THE QUESTION OF DOLLARS.

its import, they would be the last to think
favorably of it. Finance, though it affects
each mans pocket, is apt to be regarded by
him as something very distant from that
pocket He hears with mild, but hest
tating degree of satisfaction, Of the Popu-
list plans for plenty Of money for every
body: then of section of both of the great
parties for free silver. and so on; but as a
matter Of fact he does not realize the alb
surdities that have been pressed on the
consideration of the nation. In reading a
copy OF the Congressional Record OF De.
cember 18th, we came across the report
and accompanying speech of Senator Nor
nance, which is well worth reading. He
said that his remarks would be addressed
to "Some marvellous Senatorial Bills and
Quack Panaceas for Real and Imaginary
Grievances, and he reported, adversely,
from the Senate Committee nine bills which
had been introduced during the session.
We give list of them, with the comment
that nearly all came from the POpulist
corner of the Senate while some were in
troduced ''by request" by Republican Oh
Democratic Senators, without endorsing
them:
S. 1887 A bill directing the Treasurer OF
the United States, upon the receipt Of nOnin-
terest- bearing twenty-five year bonds, not to
exceed one-half of the assessed value of the
property Of any State, Territory, county,
township, municipality, or incorporated town
or village said bonds to be retired at the rate
of per cent. per annum, to issue full legal.
tender Treasury notes to the face value OF
said bonds (estimated), s12. 900 900, 600.
S. 1892. A bill to provide for the issue OF
s., 800, 900 in legal-tender Treasury notes,
to be loaned to States, counties, townships,
villages, and individual citizens, without in
terest, 50. 5OO,0OO,O0O.
S. 1900. A bill authorizing a sufficiency OF
declaratory-not promissory-tull, not par
tial, legal -tender money. not in excess Of the
sum of 81 900 per capita, to establish systems
of cooperation, and for other purposes,
5000, 100000.
S. 325. A bill to increase the circulating
medium by issuing Treasury notes to the
amount OF $500, 900, 600, payable in lawful
S. 4so. A bill to authorize the issue of
$500, 100000 in deelarately legal-tender money
and for other purposes, and forthwith call in
ali bonds for immediate redemption, $780,
600, OO0
S. 9l6. A bill to direct the Secretary of the
Treasury to purchase all silver bullion mined
in the United States that may be offered at
$1.29 per ounce, less the charge for coming,
and that full legal tender notes shall be
issued to eight times the value of the silver
bullion so purchased, not exceeding $50, coo, 900
per month and to continue for three wears.
ST, 800, Coo, Coz.
5. 1856 A bill directing the Secretary of
the Treasury to have coined all gold and
silver now in possession Of the Government,
and also to have coined sufficient amount
OF lega i-tender paper money to make the
Whole amount of paper, gold and silver mon
ey 5000, 900, 600
S. ll7s. A bill directing the Secretary of
the Treasury to prepare and issue Treasury
notes TO an amount equal to three and one
half dollars for every dollars worth of gold
and silver coin and bullion belonging to the
United States not set apart or reserved by
law (estimated) $500, 900, OOO
S. 2O29. A bill directing the Secretary to
pay off all Understanding obligations, all
Treasury notes. gold and silver certificates.
and national bank notes, and to issue paper
money to Che AMOUNT necessary to pay as
aforesaid, and also to- pay all salaries of
officers. or wages, and afl>appropriations
made by Congress whatsoever, 5000, 900, 600.
Besides these nine, there were taree bills
lying on the table for consideration. as
follows:
S. 1900. A bill to appropriate S. 800, 900 for
Immediate use in relieving want and destitu-
ton, but not to exceed in any State 81 for
every ten inhabitants, Sc, 100000
S. 976. A bill to establish a bureau of
loans on real estate and personal property
and the issue Of Treasury notes equal in
amount to one dollar and half for every
dollars worth of gold and silver coin and
bullion belonging to or coming into the
possession of the United States, except the
redemption fund (estimated) $780, 900, 600.
S. 595. A bill to provide for the immediate
issue and circulation of $3.50, 900, 900 of Treas
ury notes, $3.50. 100000.
1t may be safely said that these bills call
for the issue Of ten times more paper money
than there is of all kinds now in the Whole
world. The greatest calamity that ever
overlook the United States was the action
OF the government in creating money
that is in issuing greenbacks-paper-an
making ..liem legal tender. 1t furnished
4ssssa ground for the people on which to Test
a belief that the government could make
money out Of its credit, OF, in other words,
make it out Of nothing. The national
government has no right under the consti-
tuition TO do more than coin gold and silver
and establish the values of the same. The
U S. Supreme Court against the opinion
OF the highest legal minds of the country
legalized this issue of greenbacks, and from
that decision has followed an Untold demon
alization of the ideas of the people regard
ing finance. 1t is not surprising that
under. such a decision from the highest
Federal court. there should have sprung
from the States of Colorado and Kansas
such propositions as that the government
had the power to issue paper to the extent
of 81 900 per capita; that the government
should issue paper for sc, 00O, goo, O00 to fur
nish work for the people, and that the gov
ernment should assume the debts of all
States and cities and issue paper for the
amount.
Side by side with these financial PROPOSE
tions runs that of free coinage for silver, a
proposition to take forty-eight cents worth
of silver bullion, coin it, and call it one
hundred cents. That such wild cat propo-
sitions should take root in the South, where