Year: 1878

SILVER QUESTION AND BONDhOLDEHs.
EDITOR STATESMAN When preachers en-
ter upon the discussion of political questions
in their pulpit sermons, they must not find
fault If some Of their congregation see hit to
answer them in an equally public manner.
Those who Were present at the Unitarian
church, last Sunday night, had the privilege
OF listening to the able and gentlemaniy pas
tor, upon the subject of remonetizlng silver.
We are always willing to grant to every per
son the same right a thinking for themselves
which We claim; bat we have never been
able to see the propnety Of denouneing, in
bitter terms, those who entertain, on i'm
portmt national questions, different views
from US; and We can See no reason why the
able pastor OF that church should come to
the conclusion that every man who Is to-day
supporting the Blaine silver bill Is an enemy
and traitor to his government, and wishes to
violate the solemn obligations which our
country has made with those who have pur-
chased her bonds Has any bonds ever been
issued by the government that show upon
their face that they are tn be paid in gold
coin, and nothing else, We say, empatically,
no, And no one ever thought OF their be-
ing paid in gold coin, until the monied pow
er obtained control of congress, and then the
form of the bonds was not changed, but
law was passed without consulting the
wishes of the American people, which de-
monetiZed silver, and made 1t legal tender
for only five dollars This was the act of
| February 3, 1873, Revised Statutes, page IL,
section 1886 1t provides as follows


"The silver COINS Of the United States
L To-. 81 lpa
for any payment not exceeding fve dollars
in any one payment.


BY this act the value of the bonds was IN
creased and the coin of our fathers changed
and those who. had purchased our obhgatio


without paying one dollar for them in golN
obtained class legislation from congress
which enabled them to require the govern
ment to pay gold and silver contract, IN
gold only. 1t does not take much moral
honesty to see that if the Blaine silver bill
becomes law, the bondholder will get Just
| what he contracted for, nothing more, and
nothing less 1t is contended by many that
inasmuch as silver has greatly increased IN
amount since the issue of these bonds, that
| the government ought to make up to the
bondholder its corresponding decrease IN
value. 1t is well known that the great IN
crease III silver, is owing to the development
of silver mines on the Pacific coast. Such
an argument amounts to simply tins, that
the government ought to always hold itself
ready to make good any loss which private
individual sustains by reason of the uneX-
pected and unusual yield of any product
which comes from mother earth III America ;
and the man who invests his money III wheat
this year, and holds it for the purpose OF
speculation, but finds an unusual bountiful
harvest next year which causes decrease IN
! the value of wheat, ought to have relief
bill passed in congress to make mp his loss.
By the act of March 18th, 1869, Revised
Statutes, page 73322, section 3G93, the faith of
the government was pledgedit to pay our debts
sin com or its equivalent, except, where the
law authorizes, the same may be paid IN law
full money or other currency, other than gold
or silver"


At the time this act was passed such men
as secretary Sherman, senator Edmunds and
many others of their class, who are now the
mere pump-handles for the monied power in
congress, were the mcst strenuous III advO-
eating the payment OF the bonds In gold and
silver but change has come over the spirit
OF their dreams SO, Mr.. Editor, you can
see that our worthy pastor is not alone in
crying "Gold, gold! Give me gold!" when
there is 10 gold. He said that ..our bonds
fell half per cent. and then per cent.
in Europe, so that the advocates Of the silver
for them" Admit the fall and then ask
the cause why? 1t was not because the mon
led power III Europe feared the security
which our government gave them, but it was
because If the unnatural and unjust value
which the act of 1873 had pat upon them,
and it was about to be taken away by restor-
ing them to the standard Of valae which eX-
listed when they were issued. Again he says
that ''upon these bonds is written payable
Ill gold, and Europe says to us take back
your ie" Beg pardon! Read the bonds
over again, and you will not lind one which
says "Papable III gold, = but they do say,
Payable in coin. This is just what we
propose to do-pay as We agreed-but if tie
advocate Of the monied power is correct, why
pay iI gold. Why Rot pay in diamonds,
and by a similar process of reasoning gold
could be demonetized and diamonds made the
standard OF value as more precious commo-
dity. Again our worthy pastor says that the
inscription on the new silver dollar ought to
be ''an eagle over the carcass of poor pack
mule, who had died packing the silver y
Allow me to suggest stllbetter inscription
to be placed on the gold coin, let it be a
b'lzzarJ over the carcass of poor laboring
man, who has died i'll attempting by honest
labor to support his family, and pay his debts
IN full, when he receives his pay for his Ia
Dor in demonetized silver. 1t is notorious
fact that i'll many portions of the east
to-day, the rich man pays his employees in
deprecated silver for their daily toll. He
then sells the necessaries Of life at gold
value, and thus realizes the benefit of double
discount on silver. Is there any wonder
when we have such legislation as the act OF
| 1873, that riots and devastation walks like a
giant over our far land? That grand old
man, Thad. Stevens, who was chairman of
the tinanance committee III the house at the
time, gave us fair warning. We needed not
his voice, bat the clouds of just retribution
burst upon our heads in 1877 Let US have
more legislation and more preaching for the
poor man. The rich can and will care for
themselves. They bought most of the bonds
at from 40 to - cents on the dollar, and they
ought to be satisfied II they get their pay
Now in the coin Of our constitution, without
further depressing the laboring classes.


Yours, JUSTICE.


THE SILVER CoSTROvERsY-The line oI