The Southern herald., 1898-02-25
Continuation Of the Speech BY
Hon. W +. Love ia Congress.


This act is cited ih the bond, and
i, is stipulated in the bond that II .
is rsdsrma5ls a, the pleasure ofthe
United States afler a certain date
in coin Of the standard value Of
th- United States on said July IA,
1870, with; interest in such coin
irum The day Of the date Of the
bond. Could a contract be more
definite than Ihis2 The contract
designaies the coin" with great
certainty by the fixed and unfailing
guide Of the standard value of the
United States" Any coin, there
fore, that fills that standard Of val
ne is lawful coin with which tG pay
the debt, and the creditor can Aot
lawfully refuse 10 accept 1t.
The commercial value Of gold or
silver is moi hiA,ed al in the statute
or the bonds. The law has made
no pledge as TO the commercial val
ue ofthese coins, here or elsewhere,
and our contracts are free from such
construction. Congress used the
utmost care in providing this law
under which the public debts were
to be founded. ItprOyided for the
issuance Of bonds, and the act spec
flied all the terms and conditions
Of the agreement, leaving nothing
TO interference, and precluding the
right Of any and all to alter, vary,
or enlarge the stipulations, direct
ly or indirectly.
Now, as to the question Of JUS
tice. Justice and good faith are
one and the same when we come to
measure the rights of the parlie:
to an agreement. The law OF the
; contract is the true rule Of justice
and the faithful execution of thi'
law is the full satisfaction Of al
; 1.-The demands Of honor. Each par
ty is still bound by the contract al
originally made, and the real ques
! ton before US is, does the nationa
honor require us to absolve oui
J creditors from the part Of their con
: tract which requires them to taxi
e silver dollars of 4l2t grains. con
! tanning 37ll grains Of pure silver
or gold coin, at our option, in pay
' nent thereof?
e 1t certainly can not be assumed
d that as a part of our national obi
E CATION we are bound legally or MOI
e ally TO pay our bond-holders abroa
VI in a coin better than that which W
y would compel our own people t
Z take. Shall we pay the men VIII
d fight the battles of the country an
n the laborers who produce the weall
/. Of the nation in a money inferic
r. to that paid the foreign bond-holC
Il ers? Cedainly not. Will the RI
r publican party continue to impo'
Ie etjth the masses Of our people
II enrich the classes?
s, Do you propose by your vote
Of on this measure TO discrlmina'
nj against the debtor classes, whiC
le embrace more than three fourths
ID our people, TO increase the weal'
s. and power Of few who are aIreac
le immensely rich as the result
ne class legislation?
in 1t is contended that since Il
of Government has sold all of
al bonds for gold, a fact which | den
SIS il would not now be fair or Just
ed redeem them in a deprecated mo
an ey. If because we have receive
d. gold as a consideration Of the CO
IT. sideration Of the contract, now '
IT, are therefore necessarily and ju;
We ly to pay gold in return-this arg
ps ment would Of itself condemn Il
lat act Of 1859 to which we have abO
les allu led. What's just for the ere
Of itor is just for the Governmsr
i'll what is right for the creditor
en- right for the debtor. II is to
lal measured Oy tne same law, Oy u
ID, same measure of abstract justice.
,es Having succeeded in repudii
of ing this act by stipulating that 4
az Government should pay coin i
av stead of currency, we are now tol
mt startling as it may be, that I
hr word "coin," which was eubstitl
he ed at the behest of the money pc
ts, er, does not mean gold and silv'
r but gold only.
a The silver dullar came tot US wi
Be the birth OF our Government.
TO- was devised as the unit of val
Ter by Thomas Jefferson, and adopt
by Congress as one Of our mon