Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1898-03-09
GOLD PAYMENTS.
The Presidents Recent Talk to
Wall Street
True Meaning Of His Promise to Pay
Bonds I'm 1.-THE Beet Money I'm The
wOrld.'' A Notice OF "HOId.Up'' to
the Debtor Glass.

the Debtor Glass.
In his speech at the banquet of the
Manufacturer Association President
Mckinley said, Nothing should ever
tempt us-nothing ever will tempt us
to scale down the sacred debt of the
nation though a legal technicality.
Whatever may be the language of the
contract the United States will dis
charge all of its obligations in the cur
rency recognized as the best through
out the civilized world at the time of
payment" In legal par1ance "tech-
nichality" is formal or verbal quible
over some slight inaccuracy or express
sion; and instance like a statute or
contract shall be construed according
to its strict letter regardless of what
the lawmakers or contracting parties
intended. 1t is thoroughly estab-
lished and unquestioned rule of both
law and equity that written contract
shall be so construed as to carry out
the intent of the parties as expressed
by the writing. Where the language
of a contract is clear, no court will
ever presume to change it to meet any
real or imaginary equity. 1t will
leave the parties where they have
placed themselves by their own lam
guage. If President Mckinley were
IN aopear - court Ne ~ attorra,, ~
argue that the word "coin" in the bond
contract was a mere technica1lity, it is
doubtful whether the court would allow
him to proceed with the argument.
The term technically" has not the
remotest application to such a case.
At the time the contract was made the
word coin" had perfectly clear and
definite meaning. Everybody knew
exactly what it meant. 1t did not mean
exclusive gold coin any more than it
meant exclusive silver coin. It meant
both or either without preference. The
fact that gold has since doubled in
value has not changed the meaning of
the word coin. There is nothing OBJ
scure, nothing ambiguous, nothing
technical in the wording of the con-
tract. The long and short of it is
that gold has gone up and the bond
holders must have it no matter what
the contract says. The expression
technically" was an unfortunate
one, but it is altogether in keeping
with the glittering generalities which
nuke up all of the Presidents rhetor.
ical flourishes. The question of "sca1-
ing down the nations debt" is not
involved. The opponents of the gold
standard do not deny that the debt is
sacred" or that it should be sacred1y
paid. On the contrary. they positive.
ly assert both propositions. But they
insist that "sacred" obligation is
equally binding on both parties to it
that the gold men are violating the
principle by demanding more thar
their just due, and President McKin
ley says that our sacred honor re
quires us to give it to them. Wher,
does he get the authority either in Law
or morals to declare that the United
States, must pay its obligations il
currency recognized as the bes
throughout the civilized world, what
ever be the contract? He might JUS
as properly say that if we had Dor
rowed shells and agreed to pay cookie
shells we must, nevertheless, pay in
gold. Generosity is beautiful and
lovable quality. Mr.. Mckinley may
have it in large measure, but he
should be careful to confine it to the
disposal of that which belongs to him
If he became unduly generous in Civ.
ing away other peoples money it ma
not be "technicality" stealing, but i
will be at least very grave misfeas
ance. He must remember that he &C
cupies fiduciary relation to the
American people If he has made the
mistake of supposing that he is simply
the agent of the creditors under a sor
of immoral oblig alton to give them al
that he can, he should correct the er
ror at once. He should CAREFUL,
guard the creditor against wrong, bu
his highest and most sacred duty is t,
protect the people against unjust ant
extortionate demands. He has a per
feet right to pay his own individual
debts as he pleases, but when he un
dertakes to say that the country mus
pay in the best currency, i. e., tn
dearest money that the contract CALL
for, it is tyrannical usurpation O
authority, and shows either an ignor
ance of the first principles of common
honesty or total disregard of thos,
principles.-H. F. Bartiue.
The news is confirmed of the deatl
of VIM. B. Sampson, postmaster a
SkaPuay. Alaska and SON Of NJ n