The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-07-07

President Grants administration IA re-
gard 20 the finances had proved Ia al re-
spects successful II 10 not until ISL that
he devoses any considerable attention to
the subject. and then he SAYS that the
distinctive measure Of the Forty-nfth con-
gress Was shs passage a. the act for the
coinage OF silver dollars In al the pre-
vSous debates relating 70 the resumption
Of specie payments. ~ related by M
Blaine. there II no ailusion whatever 70
silver. ana 20 far - bis book IL concerned
II wosld sssa that the silver question
played . very unimporsant part Ia the
discussion en- tbs return from paper cur
rency 20 coin
In the debates In the rorty-ffth con-
rrsss. in is7. several men who are now
well known In connection with the ST.
yer movement figured prominently.
mouesary commission had been formed OF
which John r. Jones was one. and he az
pressed the beilsf that the United states
should M the value At isA TO L Bland
wse then In favor Of 1s to 1. President
Hayes. In his msssage. had referred to the
matter ana expressed the belief that the
interests OF the government or the people
would not be promoted by disparaxing sis-
yer. but held that n should be used only
at its commercial value.
III" said he. tho United States had the
undoubsed right to pay It's bonds In siiver
coin. the little benefit from that process
would be greatly overbaianced by tnc M
furious eject OF such payments IL made or
prooosed against the honest convictions
OF the public creditor
In congress thirsy-four SENATORS deaiv-
cred speeches on the subject, many OF
which were deliberately prepared sena-
tor Edmunds, OF Vermont. whose aouity
a . constitutional lawyer and whose m
fegrfty a . legislator have never ossn
auesttousd. exprsssed the opinion that the
bonas we're payable In gold coin or its
equivalent. and that any other payment
would be in violation OF public faith.
II II with the debates In the house. how
aver. that Mr.. Blaine chiefly deals Refer
ring to the subject generally. he remarks
that within the previous ten years many
AZ the European nations had found difii-
4
but we're withheld frosn adopting any 9TH
ar course By the influence and example OF
England. This does not prove. OF course
that the double standard would not Dc
better. but II h important as showing
that even the great European nations hes
itated TO undertake 10 maintain ratio
without the concurrence Of the chief COM
mercsd power: the obvious inference De-
tnr that without such concurrence tAs
measures would be disadvantagsous 10
them.
Morrill,. Of Vermont VINO was one OF tns
s,ronxess men In congress for many years.
warned the house that the proposed sstAo-
,ishment Of the ratio of is to would De
fearful assault upon the public credit
Hs said: .sTt resuscitates the Obsolete DOL
lar which congress entombed In 1884, worm
Lea. than the grecnback IN gold. and yet
"a be n fun legal tender" He thought
that the causas OF tho depreciation OF
silver were permanent. With propheue
vision n. declared nearly twenty years ago
that .the future price may wavsr one way
or the other. but II must finally se'us a.
much lower point"
Sargent. OF California, opposed 'ns p'ii
"A against good faith and against the IN
terests OF the government and the peop's'
1.hsre were many who supported the hil-
o. r~.mre but the most remarkable
argument was that OF Mr. Blaine VINO
said that geld and silvcr are the money
Of the constitution. ths money In exist
ence when the constitution was formed.
ara congress has the right TO Regulate
their rslatsons" He favored the coinage
Of s.ueh q silver dollar az will not only
90 Justice among cur eitixens At home.
but prove an absolute harrieaae against
the rose uonc-rnstalrsts." But. he added,
ana herein lies conclusive proof that he
disagreed with Mr. bland. was opposed
TO the ratio OF Is TO I. and ala not believe
that -urs grains Of silver woal1 make
such doMar"
The esii was pssses. ea, with Al amend
men, limiting the amount os courage.
which was very far shert Of FREE coinage.
bat even then President Hayes fesrss tbs
altirnass consequences. He said that the
silver dollar aafhertHea Is worth eight or
ten Ter cant less than :, rurports 10 Re
worth. ard - made legal tender for
dsess contracted when THE law ga not
recognise such coin as iswfnl naoo.y.
~ fs my firm convscsson that ~ TIRE eeun-
Try L. 20 ~ benefited BY a silver coinage.
~ can cnly be sone by ire issue Of silver
cellars % fun value which VIII sssrsrd no
man A currency wcrtA less saan I. par
ports 20 ss worth VII IN IN. .nt eefraus
not ensy creditors pa; al who are engaged
Ia lewstimats business. aad aon. mere
surely tsaa thess who are dependent 81
their daily issor tcr their saHy brad
Tia si-ervnce in opsn,oa was then much
an aaw. ia. great Hssss 81 TIRE Demo
cratic party ara a considerable number ee
Republicans w~re IN f.vcr % eosnlnx ST.
yer teslars er fun legal tsnser. regard
less cf shslr intrinsic equality ~ita goa
ccfia-s. tAts creating tvs u.staffs car.
rra,tes Offering N value for AZ purposes
81 soxamsFessl sxeh&ngs wtts tAe weris ara
keensnx sassa e, an equality &C valus A.
hems by TIE scrcs q law A ua&geyfsv 81
Republicans Ard = minority c< rssnNSra..
asserted he ssesss'ty 8; rnA.assinins al
Yer ccla a. faE LEGAL tender. hat ueas u.
basis 81 eewAlssy N sntrznxc xssus wisa
s. x>it se-ar
IRIS esssnsts % ire poliey 81 beth s.8ss
Is s1usess Ia NJ. n.Aias's eva lAnxzsxe
ans e serves - s>ew ,Ast r~ifAe~ see
tess sure tie saa&'tsr eou's ~ uaAtnsasaes
r. sraas=ctaans VITA terstsa eoantyssa bat
shss ira eaAntlsv o. sssvsr zstxat Re ssseav