Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-13
HAS CONGRESS THE POWER Tc
CHANGE THE STANDARD
OF PAYMENT.
By / w. Porter.

show. In the long contest which be-
gan when II became known by the peo-
pie that an act had been passed sur
reptitiously by Congress in 1873 de-
monetizing silver, the writer of this has
repeatedly challenged In the public press
an affirmation that Congress possesses
the Constitutional power to demonetize
silver. The advocates of the gold STAN
dard knew too we'll where the public
ADMISSION OF such right would land
them to ever make 1t.
They knew then as they know now
That II such power was inherent that
another Congress would possibly apply
1t to gold, and certainly with as much
right. The whole scheme having ORR
sinated in Europe from an apprehen-
sion among the holders of state and
other securities soon after the discoy-
cry OF gold in Australia and California
mat unless one of the precious money
metals was deprived of its monetary
functions. money would become too
cheap. This was publicly avowed in
EUROPE. 1t was sought first to de-
monetize gold, 1t being reported that
very much greater additions to the gold
production than facts ever justified
germany after Holland, and then Aus
ira actually demonetized gold. It had
no eILect Tor the reason that all gold
anu all silver was freely coined by the
states forming the latin union. and nil
Soid oTered at the British mint CO
the commercial world remained under
the bfmetalllc law.
Ihen the assault was made upon sil.
vel. OIL whicn metal the United States
vas vas becoming the largest prducer. We
wili not go over the dark chapter of
uupiicity and folly, If not downripht
treason, which made our country Ph a
prime instrument in the consummation
az the most gigantic act of spollatjon
me me world ever witnessed. 1t was mn nor
IF 1,
VISITED upon the whole civilized ,.o,Id
ana not confined to our own coupt,,,
Wtnout the concurrence of Cbristior
america the outrage could NOT Rae
Oeen consummated, nor can IL be nor
petuated without our concurro,,o r.
iact so well known that every afyort !, u
oeen made to defeat al attemnts 40
eofTect the abuse heaped upon bn,n,ase
i,a.ions deeply in debt. Twice have tha
tia.liefican people won by overwhe,,e
d mS .nuJortties for the right. only to ho
one go Wy executive votes, or, as in
Ease an understanding that ono
awaited free coinage not 60 az,
H o. NUS compromises were forcnG 49,,
oneiii IN lieu of the restoration ~
hon, n'is "a tional right of which thev h.d
Monev 10 the main question now.
tarioS' standard money, existod ~,
.erior TO our natIonal exiStnn.s an
n,iI,u UNI Oh that money was tho Sn, '.,,
Inliied dollar, named IN o. oPaniSh
age act III our frst coin
h., ms ms dollar was divided into Fraction.
ali cn.,d peopi .,, of the different colonies
i,e to the unit-doilars tn 'neir
u,Vision of the unit into sly 90 ..e
eisht shillings. in different nnia in.o
ana na1, an subdivision OF the shiIlInr ner
re espohdins. In Virginia a shIIljn. MOI n,a.
II 1-2 pence. iorh lt was
80 insrained was the habit OF comnr.
,ns IN shillings and pence among H.
t'ui, mat now after more than n cen
Jury since our adoption of the dec,r,a,
system IL Is very common I'm mnnv
nuttn y, ene country to find people com
"WSo nov IN shillfngs and pence.
men In the course of human
esen.s our independence was esta biisb'
eo, and our Constitution was nflonted
cessation TO secure to all the neonIn
uniformity and stability in their monev
TO IN no, Congress ne1e was vested full power
10 coin money and regulate the value
thereof and of foreign coin.
IL Is well to note In these DAVIS Of
reckless legislation the extreme cara
Oh me fathers not to infringe upon the
rights OF people under existing
Standards while providing a coinaee
with the national authority and bear,ns
its insignia. D"iiis
me unit shall be dollar of the value
OF the Spanish milled dollar now Cur
rent. Not a tenth of grain did II
9eVlate-this unit-from it's prototyne
PROVISION was then made for minor
coin and for gold coin. We will onJv
mention the fact that the lanruasc
ing to the gold coin was that thsv
were to be of the value of ten. FIVE and
two and-a-half dollars. anu
our present purpose being to show
.hat congress having regulated by law
IN. me american system of money, that
the value thereof related simply RI
the weight and fneness of the coin
Ihis is proved by the fact that In Akin.
the value of foreign coin. 1t was hy
their relation in weight and fineness
10 our own standard. 1t could not fir
the value in the sense Of purchasinr
power, as our Supreme Court lotnT
decided. It's stability and INTEGRITY
was fixed. -
In so establishing the standard the
power of Congress was exhausted
no state shall pass any law impair
ing the obligation of contracts" saws
the great charter. Can Congress- 10
It? - w.
AS directly bearing upon this. we
have the following from the recent de-
bate in the Senate on the financial hill.
Senator Allen, in his earnest apnnaI
to the Senate, referring to the consti-
tutional prohibition against the mas
sage Of any law impairIng the obliea-
ton of contracts, said: THAT II aid
not prohibit the nation Che did not saw
ConGress), for the nation can make
new constitution and Congress cannot
Here Senator Spooner arose and said:
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