The Louisiana populist., 1897-07-02

Whereas, BY The act entitled "An
act to strengthen the public credit" "
approved March IS, 1869, it was pro-
vided and declared that the faith of
the United States was thereby solemn
ly pledged to the payment, in coin or
Its equivalent, Of all the interest-bear-
ing obligations of the United States,
except in cases where the law author
lzing the issue of such obligations had
expressly provided that the same
might be paid in lawful money or 9TH
er currency than gold and silver: and,
Whereas, All the bonds of the
United States authorized to be issued
by the act entitled "An act to author
ize the refunding of the national debt" ;"
approved July IA, 1870, by the terms Of
said act were declared to be redeem
able in coin of the then present stand
ard value, bearing interest payable
Semi-annually in such coin; and,
Whereas, All bonds of the United
States authorized to be issued under
the act entitled "An act to provide for
the resumption Of specie payments"
approved July IA, 1875, are required to
De of the description of bonds Of the
United States described in the said act
OF congress approved July IA, 1870, en-
titled IAN act to authorize the refund
Ing Of the national debit" and,
Whereas, At the date of the passage
OF said act Of congress last aforesaid,
to-wit, the 14th day of July, 1870, the
coin OF the United States of standard
value OF that date included silver dol
lars of the weight of 412h grains each,
declared by the act approved January
1S. 1897, entitled "An act supplement-
ary to the act entitled "An act estab-
fishing mint and regulating the coins
OF the United States" to be legal
tender OF payment according to their
nominal value for any sums whatever;
therefore,
Resolved by the Senate (the House
OF Representatives concurring therein),
That all the bonds issued by the
United States, issued or authorized to
be Issued under the said act Of con-
gress hereinbefore recited, are payable.
principal and interest, at the option
OF the government of the United States
in silver dollars of the coinage of the
United States, containing 4121k grains
each Of standard silver; and that to
restore to its coinage such silver coins
as legal tender in payment of said
bonds. principal and interest, is not
in violation of the public faith nor in
derogation OF the rights OF the public |
creditor. Congressional Record, Vol
ume Z, part l, Forty-fifth Congress,
second session. page 564.
Among those in the senate recorded
In the affirmative or the passage of
the resolution will be found the names
OF Allison, Cameron and Jones. The
senator from Missouri (Mr. CockrelD
and the senator from Tennessee (Mr.
Harris) were paired in favor Ct the
resolution.
In the house of representatives the
resolution was concurred in as q
whole, the preamble and the resolution
being voted upon at the same time. by
one vote, and the resolution and pre-
amble were concurred in by the house
OF representatives on the 2Sth of jan
nary, 1878, by vote OF 189 to 70.
Among those voting for that resolu-
ton were William Mckinley, John G.
Carlisle, ex-Secretary Of the Treasury
Roger Q. Mills, William M. Springer
and ex-Secretary Of the Treasury
Charles Foster Of Ohio. There we have
the president of the United States and
ex-secretary OF the treasury declaring
that the obligations Of the United
States are payable in silver coin.