The times. [volume] (Richmond, Va.) 1890-1903, 1898-01-30
SUNDAY, JANUARY 80. 1898.
THE PEOPLE SHOULD BE MADE 10
UNDERSTAND 1T.

We can add very little that is new TO
what we have already said in regard 10
the senate's resolution declaring that our
national bonds are payable in silver dol
lars. but the opponents OF the measure
openly declare that it is intended as
part Of the programme Of the national
campaign In 1900 and the advocates of
sound financial system for this country
should not omit a full discussion of it
now while popular attention is fixed upon
81.
There was never the slightest reason
for bringing this resolution forward az
ahis time When the law was passed
authorizing the issue Of the governments
bonds now outstanding the dollars OF
the government were silver as well as
gold. as they How are. The bonds simply
promise dollars" and Of course. the
government had a right to pay any dol
lars that were dollars. No one in his
senses could ever have thought. therefore,
of denying that the government had the
right to pay the bonds in silver dollars
In addition to this, the late Stanley Mat
thews offered the identical resolution in
the Senate twenty years ago, and 1t was
then passed and has stood on the records
Of the Senate ever since unrepealed. 1t
was then declared to be the sense OF the
Senate that the bonds were payable in
silver: that has ever since remained the
declared sense Of the Senate, and II could
not possibly he made any more the sense
OF the Senate by passing the resolution
again than IT already was. The whole
thing. therefore. was mere leather and
prunelIa that counts for absolutely no
thing. 1t is fortunate for the country
however. that nothing more will ever be
heard OF this resolution In Congress. In
all probability. II will now go TO the
House of Representatives. and Will be
probably referred to the Committee on
Coinage. and there II will forever rest
amongst other forgotten things.
Nothing, therefore mas been done but
TO excite people who had begun to be-
lie,e that the silver agitation was over,
and this excitement may have an un-
business that As been going on so steadi-
" and so surely for the pas. few months.
. Possibly that may he avoided, and II 1t Is
then the whole discussion has been case
OF beating the lir.
We cannot for our life understand how
any man who believes in the principles
of fair dealing should be willing to pay
our bonds in silver II the silver dollar
were not kept up at par by the govern
ment-if. in other words, It was allowed
20 shift for itself and II should fall in
value to what II is really worth, forty
four cents. We understand. OF course,
how there might be some sort OF equity
IN doing this as against a man who
bought bond during the war for sixty
cents on the dollar.
But the bonds are payable TO the
bearer. and. ever since the country re-
sumed specie payments ali the interest
has been paid regularly in gold or its
equivalent.
Now, suppose some citizen Of Russia,
seeing the bonds payable 10 the bearer
ana KNOWING lndN inc government a.
ways had Seen paying the interest in
gold. had given one thousand gold dol
lars for bond under the belief that the
government considered the bonds gold
bonds. Would II be fair 10 him
20 insist upon a hidden right
OF ours OF which he never heard
and pay him only forty four cents
when he had expected 10 get dollar?
Would he not have been justified In think
ing. under all the circumstances that sur
rounded the case when he bought the
bond. that our government Intended the
world 10 believe mat II would always
consider aud treat It's bonds as gold
bonds? II he would have been JUSTIFIED
IN thinking this would II be fair to him
90 avail ourselves Of a technical right
IN tbs law that We had to pay the bond
of IA the deprecated silver dollars?
II seems to Us that to ask the question
b 10 answer It. We DO not soc how we