Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1896-08-13
HIS FLOP TO GOLD.
HcKinley'S Change Of Heart on The
Financial Question
REPUDIATEs PAST RECORD
To Secure o Nomination for Pres
ident at the Hands of Wall
Street and the Other Big
Gold Kings.

On the 9Th day of Decem Der, 1877
Hon. Stanley Matthews, a senator
from Ohio, and afterward q Justice o.
the Supreme Court OF the United
States introduced into the senate o.
the Uuited States the following pre-
amble and resolution:
Whereas, By the act entitled sAr
act to strengthen the public credit,
approved March Is, 1869, it was pro.
vlded and declared that the faith Of
the United States was thereby sol.
emnly pledged to the payment in coin
or Its equivelant Of all interest-bear-
ing obligations of the United States,
except in cases where the law auth
orlzing the issue Of obligations had
expressly provided that the same
night be paid in lawful money OF
currency than gold or silver; and
"Whereas, All the bonds of the
United States authorized to be issued
by the act entitled An act to autho-
rize the refunding of the national
debt, approved July Ia, 1870, by the
terms of said act were declared to be
redeemable in coin of then present
standard value, bearing interest pay
able semiannually in such coin; and
Whereas, All bonds of the United
States authorized to be issued under
the act entitled, An act to provide e
for the resumption of specie payment,
approved January ID, 1875, are re-
quired to be of the description OF
bonds of the United States describ-
ed in the said act OF Congress approx
ed July Ia, 1870, entitled 'An act to
authorize the refunding Of the nat
ionl debt; and
"Whereas, AT the date of the pas
sage of said act of Congress last afore.
said, to-wit the 18th of July, 1870,
the coin of the United States of stand
ard value of that date included silver
dollars of the weight of 4l24 grains
each, as declared by the act approved
January Is, 1887, entitled An act
supplementary to the act entitled "An
act established a mint and regulating
the coins of the United States" to ts
a legal tender OF payment according
to their nominal value for any sums
therefore be it
"Resolved by the Senate (The
House Of Representatives concurring
therein), That all bonds of the Unit
ed States issued or authorized to be
issued under tae said acts hereinbe-
fore recited are payable, principal
and interest, at the option of the Gov
ermnt of the United States in silver
dollars of the coinage of the United
States containing 4l24 grains each of
standard silver; and that to restore to
its coinage such coins as legal ten
der IN payment of said bonds princi-
pie and interest, ls not IN violation of
the public faith nor in derogation of
the rights of the public creditor"
On the 25th Of January, after many
unsuccessful attempts at amndment,
this preamble and resolution we're
adopted by the Senate precisely as
they read above. The vote stood AZ
years, 20 nays and IA absent Of
the years 10 were Republicans and
Of the nays Is we're Republicans. OF
the pairs one Republican voted on
each side. We call attention to the
fact that this resolution received the
support of Senators Matthew and
Thurman of Ohio, Mcdonald and
Voorhees,, of Indiana, Oglesby and
Davis of Illinois, Ferry of Michigan,
Cameron and Howe OF Wisconsln,
Mcmillan of Minnesota, and Allison
and Kirkwood of Iowa. These are
the great middle Western States in
which the people are now asked to
Jay that the great statesmen above
named were all wrong, and that the
bonds are not payable at the option
Of the government in silver dollars,
but that they are all payable in coin
1t whatever price it has to be bought
II the little handful of men who con-
troll the worlds supply.
On the 2Sth of January the pre-
smble and resolution were adopted
BY the house of representatives with.
out amendment by vote OF $50 yeas.
10 nays and "a not voting.
Among those who voted for it will
oe found the name Of that distinguish.
ID gold bug, the Hon. Charles Foster
If Ohio, afterward secretary of the
treasury under Harrison. He was
The first secretary Of the treasury to
discover that the option reserved by
the government to redeem green
backs in silver dollars was reserved
for the purpose of giving it away to
the holder of the note, who has from
that time forward exercised the op-
ton 80 reserved by the government
for its own convenience. There will
also be found recorded in favor OF
this resolution the name of the Hon.
William Mckinley, of Ohio, the pres
sent goldbug candidate of the Repub-
lican party for the presidency. He
is now unlikly to understand how
any. honest man could think of pay
ing government obligations in any
thing but gold coin. And yet there
has never been any change in the
law from the day he voted for this
resolution. The Hon. Amos Town
send, prominent member from
OHIO, also voted for the resolution.
The Hon. J. W. Keifer, of Ohio, vot-
ed for the resolution and afterward
hopo-oI Nv %ho poy,, h1ioapo NTH Tho