The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1896-09-19
A VOICE ON THE ROBBERY /
Schuyler colfax on the Great
Crime of
1873.
THE CASE STATED 1HPARrlALLY.
Republican Authority to Confute
the Doubt
erS.

/
Advance Nov. 20 of that year:
On the Cars, Nov. 26, 1877.
My Dear Sir: To your request to write
you brief letter for publication on thu
silver question Tor to allow an unsigned
one wrote to your paper last year to be
| reprinted with my nance, I cheerfuily
summarize my convictions on the sub.
ject in a few propositions that seem tc
| me to be almost automatic:
i. This is in theory, and should be in
practice, government of the people, fol-
the people, by the people, where the pop
ular will should be obeyed
z. If today gold and silver were both
equally legal tender, as when We in
Cured the war debt and suspended
specie payments temporarily, a PROPOSE
ton as a preliminary to resumption in
1879, to now demonetize silver and pay
all debts, public and private, in gold
alone, could not carry the popular vote
of any district in the land, north or
south, east or west, and If submitted to
a popular vote would be voted down by
millions.
3. No canvass was ever made in any
district of the nation, prior to the act OF
1873, for the demonstration of silver; NO
popular assemblage or convention of the
people of any party ever asked for it; no
political platform of any organization
demanded it; no petitions from the peo-
pie Of any section of the Union sought
it; and of the hundreds of financial plans
for the relief Of the country, for the pay
ment of the debt, or for coin resumption
which were published and advocated
none Of them proposed such an act for
the ameliOrat!On of our financial ills
not one.
4. The demonetizing act, therefore,
was passed not at all as responsive to any
demand, or desire. or petition of the peo-
pie, and was SO ingeniously concealed in
a coinage act that neither the president
who signed it nor the present president
who has to execute it If not repealed
knew what had been done till long after
it had gone into effect.
5. If this Is really "a government OF
the people, and for the people, and by
the people" an act thus passed, though
it may have legal effect, is a popular
wrong that should be corrected by the
servants of the people promptly and
cheerfully-not haltingly, or grudgingly,
or reluctantly, or evasively.
6. If the explicit language of our ma
~tional constitution means anything, gold
and silver are equally the constitutional
coin Of our land.
Z. If the explicit language of the first
act Of Gen. Grants administration, "the
act to strengthen the public credit" and
which did strengthen it with our credit
ors and the world, means anything, the
nation pledged itself in March 1869, to
pay it's debts Gin coin or it's equivalent, !"
not in gold alone s~,--.y e.
8. If the explicit language of the
funding act of June, 1870, means any
thing the nation again pledged itself to
pay the bonds funded under it in "the
standard coin Of that date" which was
gold and silver, and not gold alone.
9. If in 1861-1S69 and 1870 corn and
oats were both and equally legal tender
for debts "between man and man" as the
phrase is, no consideration of equity,
honor or conscience would require that
debts incurred under and in full view of
a promise should be paid in the dearer
Of these products, because the other hap
pened to be cheaper from over produc-
ton or any other cause whatever.
10. If the demonetiz:ng act was pop
ular wrong; if it was neither demanded,
desired or petitioned for by the people;
if it could not now, were a new and orig
inal proposition before the people, who
ought to be the rulers of the land, COM
mand. even quarter of their votes
ought it not to be promptly corrected?
And, then, when the status quo" is thus
restored, would it not be an excellent
time afterwards to propose an interna-
tional commission of European and
American nations to determine what
should hereafter be the relation of the
two metals to each other?
l have endeavored, as briefly and as
tersely as possible, to submit PROPOSE
to demonstrate themselves without
wearisome argument, and hence omit all
extended reference to the optional plan
of resumption have several times in the
past years submitted, as sure to avoid
runs, unsettling of values and paralysis
of business-namely, for the govern
ment to redeem at it's own option In gold
or silver or a national bond, as proposed
when the greenback was first issued, APP
proximating, but not quite equal to, coin
in value; and using the greenbacks thus
funded in the purchase of our per cent
loans in the open market, thus avoiding
present contraction and ultimately re-
ducing all our government interest to 8
and per cent. This plan seems to have
but little chance of success in congress;
and as it is not necessarily connected
with the righting of the wrong done in
abolishing silver money and legal ten
der, omit any extended reference to it.
Schuyler Colfax.
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