The citizen. (Frederick City, Md.) 1895-1923, 1896-09-11
The Matthe VS. Resolution.

Payment of government bonds in
silver was expressly Endorsed by res
olution concurrent in form, which
passed both Houses of Congress in 1879.
1t is kno an as the Matthews resolu-
ton, icing introduced by Senator STAN
ley Matthews, a Republican. of Ohio,
afterward a member Of the Supreme
Court of the United States, in opposi-
ton to the appeal of Secretary Sher-
man to Congress asking that an ex-
press exception be made requiring gold
coin alone to be paid for principal and
interest on bonds issued since 1873.
The text of the resolution reads:
Whereas, By the act entitled IAN act 10
strengthen the public credit" approved March
II, 1869, it was provided and declared that the
faith Of the United States was thereby solemn
ly pledged for the payment in coin or its
equivalent of all interest bearing obligations
OF the United States, except in cases where the
law authorizing the issue Of such obligations
had ex pressly provided that the same might
be paid in lawful money or other currency
than gold or silver; and,
Whereas, All the bonds of the United States
authorized to be issued by an act entitled "An
act to authorize the refunding OF the national
debt" approved July 18th, 1870, by the terms
of said act were declared to be redeemable in
coin Of the then present standard value, bear
ing interest payable semi-annuaDy in such
coin; and
Whereas, All bonds OF the United States au.
thorized to be issued under the act emitted
IAN act TO provide for the resumption of spe-
Gle payment" approved January 18th, 1875
a q 6pSQrInfinn nf
of the United States described in the said act
ofCongress approved July IA, 1870, EMIT ed
IAN act to authorize the refunding OF the nat
ional debit" and,
Whereas, At the date of the passage of said act
Of Congress. aforesaid, to-wit. the 18th of July,
1870 the coin Of the United States of standard
value of that date included silver dollars OF
the weight OF 4l214 grains each, as declared by
the act approved January Is, 1897, entitled
IAN act supplementary to that act, entitled
AN act establishing mint and regulating the
coins OF the United States" TO be legal ten
der of payment according to the nominal val.
ue for any sum whatever; therefore be it
Resolved, by the Senate, the House of Repre-
sentatives concurriDg therein, that all bonds of
the United States issued or authorized to be is
sued under the said acts OF Congress hereiube-
fore reclted are Poyo6te principal and interest,
States, In sttver dollars of the coinage of the
United States containing 4l2l< grains each, of
standard silver; and that to restore to its coin
OF said bonds, principa and interest, Is not in
violation Of the public faith nor in deTo0dton of
the rights Of the public creditor.
The Pittsburg Post quoting the res
olution as above, says:
1.-THE resolution was debated for
nearly two months, and did not reach
a vote until the 18th of January, 1879.
The influence of the money power and
the Hayes administration, with Sher-
man as Secretary of the Treasury, was
brought to bear against it, 1t was
legal proposition by one of the most
eminent Republican lawyers of the /
Union. The preamble, it will be OBJ /,
served, constitutes statement of the I
case and an irresistible argument.
"The resolution passed the Senate
on January 25th, there being AZ Sena-
tors voting for it, 20 against it, and IA
absent or paired. This was more than i
a two-third vote. OF the yeas 10 Re- 1
publican and % Democratic Senators, I
and OF the nays Is were Republicans
and Democrats. A majority of the \
Senators of both parties voted for it.
We have the ayes and hayes before US.
The resolution was voted for by Sena-
tors Cameron and William A. Wallace,
OF Pennsylvania; by Matthews and
thurman, Of Ohio; by Mcdonald and
voorhees,, of Indiana; by Oglesby and !
Davis, of Illinois; by Allison and Kirk
wood, OF Iowa; by Cameron and Howe,
OF Wisconsin, and by Judge Mcmillan,
OF Minnesota, well-known in Pitts