The Caucasian. (Clinton, N.C.) 188?-1913, 1896-09-24
THE MATTHEWS
RESOLUTION.
This Preamble and Resolution Was
Introduced in Congress De-
oember 6, 1877.
PASSED JANUARY Is, 1879.


able In Coin-Either of Gold or Silver
| Who MAS Stanley Matthews?
In 1873 FIVE years after the bill
that substituted the Trade Dollar of
| 420 grains Of standard silver and
made legal tender for five dollars
for the original dollar Of Alp II
grains of standard silver, and which
was legal tender in any amount
the Congress Of the United States, by
two-tbirds vote in a Democratic
House and three eourths vote in a
Republican Senate, adopted the fol-
| lowing preamble and resolution in
troduced III the Senate by Stanley
Matthews, Of Ohio:
PASTE THIS IN YOUR SCRAP BOOK
"Whereas, By the act entitled AN
act to strengthen the public credit,
approved March eighteenth, eighteen
hundred and sixty nine, it was pro-
vided aud declared that the faith of
the United States was thereby sol
emily pledged 10 the payment in
coin, or its equivalent, of all the in
terest-bearing obligations of the
United States, except in cases where
the law authorizing the issue Of such
obligations had expressly provided
that the same might be paid IN law
ful money or other currency than
gold and silver; and
Nv hereas, AL the bonds OF the
| nted States authorized to be issued
by the act entitled AN ac: to au-
thorize the refunding of the national
debit approved July fourteenth,
eighteen hundred and seventy, by
, the terms Of said act We're declared
. to be redeemable IN the coin of the
, then present standing value, bearing
: interest payable semi annually in
such coin; and
Z "Whereas, All bonds of the United
+ States authorized to be issued under
+ the act entitled AN act to provide
, fOr the resumption OF specie nay
=. ments.' approved January Il, 1873,
are required to be Of the description
of bonds OF the United States de-
9 scribed IN the said act Of Congress
=. approved July II, 1870, entitled IAN
: act TO auLUoflZo Lub reLunuluS Oi lue
national debit and
;, "Whereas, At the date Of the pass
!, age of said act Of Congress last afore
q said. to-wit, the 14th day OF July
: 1870, the coin of the United States Of
standard value OF that date included
silver dollars of the weight of 412 l..
grains each, declared by the act ap
: proved January 18, 1887, entitled
q AN act establishing a mint ant
g regulat ting the coins of the United
n States to be a legal tender Of pay
/ ments, according to their nomina
u value, for any sums whatever; there
: fore
y "REsOLvED, By the Senate-th
l. House of Representatives concurrin,
@ therein-tha all Of the bonds of tn
q United States issued, or authorized
,. 10 be issued under said act of Con
q cress herein before reclted, are pay
II able, principal and interest, at tn
g. option Of the Government of tn
l. United States, in silver dollars, o
se the coinage Of the United States
1t containing 412 IL grams each Q
I'd standard silver, and that to restor
u to its coinage such silver coins as
IN legal tender in payment Of sal
IL bonds principal and interest, is no
- IN violation OF the public faith, no
SO in derogation Of the rights Of th
,t, public creditor
~ This resolution has never bee
a. rescinded and is still in force. Ever
e. bond issued since then has bee
ee issued in the same form, and has th
declaration on lts face that it is issue
e under the act which makes bonds r
OF decmable in coin, either of gold I
he silver. Of the standard value of Jul
rd IA. 1870, date three years prior
.st the demonetization Of silver. Fro
IS that date to this, every purchaser
IN United States bond not only h;
N, notice, printed upon his bond, tn
ur be can not decide for himself wheth
it shall be paid in gold or in silve
're but that he will receive whichever
rd most convenient for the Governmer
ire Ia addition TO the notice print
upon his bond. every bondholder b
IN had the foregoing preamble and I
on solution of Congress to teach h:
ou how false and fraudulent are t.
ess promises made to him in newspape
It and by Presidents and Secretaries
nd the Treasury that he shall be paid
re gold. This notice has been standi
the for eighteen years. No gold mor
Tas metailist has dared to offer a reso
ton to rescind it. Mr.. Clevela
to and the Morgan syndicate themsel1
the bore testimony that the bonds We
lou not payable in gold when they be-
'lu- Congress last year and the year
Yer fore to pass law making them p'
est. able in gold. It will be rem membe1
so that Mr. Cleveland lectured Congr
den severely on this subject, and plai1
the declared that the reason he could !
OF sell the bonds at higher price '
Ia because they were not payable
you gold. An effort to make them .
With able in gold was defeated in c
ton gress.
iuei I. WHOWAS STANLEY MATTHEW'S
and Stanley Matthews was good l.
rl1v yer and it is we'll known that he
= appointed Supreme Judge of
United States by President CART
at the request Of Mr.. Hayes, who
not appoint him because he was
t II relative. Ills resolution, 40
fire quoted, concurreo IN oy the g
|. at body of the peoples representa-
ssh. in both Houses of Congress, decls
ioht that all the obligations of the Uni
Are States which are in the form of bo
Ioor. "are payable, principal and inter
|, the at the option of the governmen
ests. the United States. in silver dol
Ifety of the coinage of the United Sts
n Of containing four hundred and tw
snic, and a half grains each OF stant
1ests SILVER"
vas "rba ,o,v n-;oo of Ton cents nor =