23 39 It was determined in the negative, Yeas. The yeas and nays having been heretofore ordered, Messrs. Anthony, Barnum, Bayard, Blaine, Burnside, Chaffee, Christiancy, Conkling, Dawes, Eaton, Edmunds, Hamlin, Kernan, Lamar, McPherson, Mitchell, Morrill, Paddock, Randolph, Rollins, Sargent, Wadleigh, Windom. Those who voted in the negative are, Messrs. Allison, Armstrong, Bailey, Beck, Booth, Cameron of Pennsylvania, Cameron of Wisconsin, Coke, Conover, Davis of Illinois, Davis of West Virginia, Dennis, Dorsey, Eustis, Ferry, Gordon, Grover, Hereford, Howe, Johnston, Jones of Florida, Kirkwood, McCreery, McDonald, McMillan, Matthews, Maxey, Merrimon, Morgan, Oglesby, Plumb, Ransom, Saulsbury, Saunders, Spencer, Teller, Thurman, Wallace, Withers. So the amendment was not agreed to. On motion by Mr. Edmunds to amend the resolution by striking out, after the word "interest," in the fourth line, the words "at the option of the Government of the United States, in silver dollars, of the coinage of the United States, containing four hundred and twelve and a half grains each of standard silver; and that to restore to its coinage such silver coins as a legal tender in payment of said bonds, principal and interest, is not in violation of the public faith, nor in derogation of the rights of the public creditor," and in lieu thereof inserting, in gold coin or its equivalent; and that any other payment without the consent of the cred. itor would be in violation of the public faith, and in derogation of his rights, (Yeas... It was determined in the negative, Nays... On motion by Mr. Matthews, 18 44 The and yeas nays being desired by one-fifth of the Senators present, Those who voted in the affirmative are, Messrs. Anthony, Barnum, Bayard, Burnside, Christiancy, Conkling, Dawes, Eaton, Edmunds, Hamlin, Kernan, McPherson, Mitchell, Morrill, Randolph, Rollins, Sargent, Wadleigh. Those who voted in the negative are, Messrs. Allison, Armstrong, Bailey, Beck, Booth, Bruce, Cameron of Pennsylvania, Cameron of Wisconsin, Chaffee, Coke, Conover, Davis of Illinois, Davis of West Virginia, Dennis, Dorsey, Eustis, Ferry, Gordon, Grover, Hereford, Hill, Howe, Johnston, Jones of Florida, Jones of Nevada, Kirkwood, McCreery, McDonald, McMillan, Matthews, Maxey, Merrimon, Morgan, Oglesby, Paddock, Plumb, Saunders, Spencer, Teller, Thurman, Voorhees, Wallace, Windom, Withers. So the amendment was not agreed to. On motion by Mr. Morrill to amend the resolution by striking out the words "are payable" in the third line, and inserting in lieu thereof the words, will be payable if the silver bill should become the law of the land; also, strike out the word "is" in line 8 of the resolution, and insert the word if; and after the word "creditor," in the last line, insert, will be detrimental to the economical interests of the government and people, It was determined in the negative,{ Yeas.. 14 41 On motion by Mr. Matthews, The yeas and nays being desired by one-fifth of the Senators present, Those who voted in the affirmative are, Messrs. Anthony, Barnum, Bayard, Burnside, Conkling, Dawes, Eaton, Hamlin, Kernan, McPherson, Mitchell, Morrill, Randolph, Rol lins. Those who voted in the negative are, Messrs. Allison, Armstrong, Bailey, Beck, Booth, Cameron of Pennsylvania, Cameron of Wisconsin, Coke, Conover, Davis of Illinois, Davis of West Virginia, Dennis, Dorsey, Eustis, Ferry, Gordon, Grover, Hereford, Johnston, Jones of Florida, Jones of Nevada, Kirkwood, McCreery, McDonald, McMillan, Matthews, Maxey, Merrimon, Morgan, Oglesby, Paddock, Plumb, Saulsbury, Saunders, Spencer, Teller, Thurman, Voorhees, Wallace, Windom, Withers. So the amendment was not agreed to. On motion by Mr. Edmunds that the resolution be postponed indefinitely, Yeas... It was determined in the negative, {Na On motion by Mr. Matthews, 22 43 The yeas and nays being desired by one-fifth of the Senators present, Those who voted in the affirmative are, Messrs. Anthony, Barnum, Bayard, Blaine, Burnside, Christiancy, Conkling, Dawes, Eaton, Edmunds, Hamlin, Kernan, Lamar, McPherson, Mitchell, Morrill, Paddock, Randolph, Rollins, Sargent, Wadleigh, Windom. Those who voted in the negative are, Messrs. Allison, Armstrong, Bailey, Beck, Booth, Bruce, Cameron of Pennsylvania, Cameron of Wisconsin, Chaffee, Coke, Conover, Davis of Illinois, Davis of West Virginia, Dennis, Dorsey, Eustis, Ferry, Gordon, Grover, Hereford, Howe, Johnston, Jones of Florida, Jones of Nevada, Kirkwood, McCreery, McDonald, McMillan, Matthews, Maxey, Merrimon, Morgan, Oglesby, Plumb, Ransom, Saulsbury, Saunders, Spencer, Teller, Thurman, Voorhees, Wallace, Withers. So the motion was not agreed to. No further amendment being proposed, On the question to agree to the resolution, as follows: Resolved by the Senate (the House of Representatives concurring therein), That all the bonds of the United States issued, or authorized to be issued, under the said acts of Congress herein before recited are payable, principal and interest, at the option of the Government of the United States, in silver dollars, of the coinage of the United States, containing four hundred and twelve and a half grains each of standard silver; and that to restore to its coinage such silver coins as a legal tender in payment of said bonds, principal and interest, is not in violation of the public faith, nor in derogation of the rights of the public creditor, It was determined in the affirmative, Nays Yeas ...... 43 22 On motion by Mr. Matthews, The yeas and nays being desired by one-fifth of the Senators present, Those who voted in the affirmative are, Messrs. Allison, Armstrong, Bailey, Beck, Booth, Bruce, Cameron of Pennsylvania, Cameron of Wisconsin, Chaffee, Coke, Conover, Davis of Illinois, Davis of West Virginia, Dennis, Dorsey, Eustis, Ferry, Gordon, Grover, Hereford, Howe, Johnston, Jones of Florida, Jones of Nevada, Kirkwood, McCreery, McDonald, McMillan, Matthews, Maxey, Merrimon, Morgan, Oglesby, Plumb, Ransom, Saulsbury, Saunders, Spencer, Teller, Thurman, Voorhees, Wallace, Withers. Those who voted in the negative are, Messrs. Anthony, Barnum, Bayard, Blaine, Burnside, Christiancy, Conkling, Dawes, Eaton, Edmunds, Hamlin, Kernan, Lamar, McPherson, Mitchell, Morrill, Paddock, Randolph, Rollins, Sargent, Wadleigh, Windom. So the resolution was agreed to. On motion by Mr. Edmunds to amend the preamble of the resolution so as to read as follows: (Proposed amendment in italics.) Whereas by the act entitled "An act to strengthen the public credit,” approved March eighteenth, eighteen hundred and sixty-nine, it was provided and declared that the faith of the United States was thereby solemnly pledged to the payment in coin, or its equivalent, of all the interest-bearing obligations of the United States, except in cases where the law authorizing the issue of such obligations had expressly provided that the same might be paid in lawful money or other currency than gold and silver; and Whereas all the bonds of the United States authorized to be issued by the act entitled "An act to authorize the refunding of the national debt," approved July fourteenth, eighteen hundred and seventy, by the terms of said act were declared to be redeemable in coin of the then present standard value, bearing interest payable semi-annually in such coin; and Whereas all bonds of the United States authorized to be issued under the act entitled "An act to provide for the resumption of specie pay. ments," approved January fourteenth, eighteen hundred and seventyfive, are required to be of the description of bonds of the United States described in the said act of Congress approved July fourteenth, eighteen hundred and seventy, entitled "An act to authorize the refunding of the national debt"; and Whereas at the date of the passage of said act of Congress last aforesaid, to wit, the fourteenth day of July, eighteen hundred and seventy, the coin of the United States of standard value of that date included silver dollars of the weight of four hundred and twelve and a half grains each, declared by the act approved January eighteenth, eighteen hundred and thirty-seven, entitled "An act supplementary to the act entitled 'An act establishing a mint and regulating the coins of the United States,"" to be a legal tender of payment, according to their nominal value, for any sums whatever; and Whereas it appears from the records of the mint that the total coinage of the silver dollar has been eight million forty five thousand eight hundred and thirty-eight dollars; and Whereas the silver dollar of the United States had been long obsolete as any substantial part of the money of the country, and that which had been so coined almost entirely converted into other forms of metal, and did not exist at the time of the making of any of the existing loans of the United States, or those from which existing loans have been refunded; and Whereas by the provisions of the coinage act of eighteen hundred and seventy-three, passed on the twelfth of February of that year, and of the Revised Statutes, enacted on the first day of December of that year, all provisions of law authorizing the coinage of such silver dollar were repealed; and Whereas, since the passage of said last-mentioned acts, gold coin, which by reason of the premises has been the only existing lawful coin tender and standard of value for all payments above the sum of five dollars, as it had been the only one in fact for many years before, the United States has borrowed in gold coin from the people of this and other countries the sum of not less than five hundred and ninety two million nine hundred and ninety thousand and seven hundred dollars, at a rate of interest lower than that of any loan ever before made by the government, and payable in coin; and Whereas the holders of all government securities have a right to expect that, however much the United States may change its laws so as in fact to affect their interests favorably, it will never evade or repeal favorable legislation, either for the purpose or with the effect to make money at the expense of its creditors; and Whereas, differing from the transaction of affairs between private persons, the public creditors have no effectual means of enforcing the payment of their loans, it is a duty of the highest obligation on the part of the United States to pay its debts in such a manner as to meet the just expectations of its creditors, and to refrain from taking advantage of the cheapness of silver, by reviving either obsolete coins or obsolete or repealed coinage laws, in order to provide for payments in silver; and Whereas the substantial present value of the silver in a dollar of four hundred and twelve and a half grains is only ninety-two per centum of the calue of a dollar of gold, it would also be unjust for the law-making power, by new legislation, to compel all private creditors to receive from their debtors such a silver dollar at par in the payment of pre-existing debts, and equally unjust, and even more cruel, to compel the great number of citizens of the United States who subsist upon the wages of daily labor to receive payment for their work in money either depreciated or debased, Yeas It was determined in the negative, Nays On motion by Mr. Edmunds, 17 43 The yeas and nays being desired by one-fifth of the Senators present, Those who voted in the affirmative are, Messrs. Anthony, Barnum, Bayard, Burnside, Christiancy. Conkling, Dawes, Eaton, Edmunds, Hamlin, Kernan, McPherson, Mitchell, Morrill, Rollins, Sargent, Wadleigh. Those who voted in the negative are, Messrs. Allison, Armstrong, Bailey, Beck, Booth, Bruce, Cameron of Pennsylvania, Cameron of Wisconsin, Chaffee, Coke, Conover, Davis of Illinois, Davis of West Virginia, Dennis, Dorsey, Eustis, Ferry, Gordon, Grover, Hereford, Howe, Johnston, Jones of Florida, Jones of Nevada, Kirkwood, Lamar, McCreery, McDonald, McMillan, Matthews, Maxey, Merrimon, Morgan, Oglesby, Plumb, Ransom, Saulsbury, Saunders, Teller, Thurman, Voorhees, Wallace, Windom. So the amendment was not agreed to. On motion by Mr. Morrill to amend the preamble of the resolution so as to read as follows: (Proposed amendments in italics.) Whereas by an act to provide for the payment of outstanding Treasury notes, and so forth, approved March second, eighteen hundred and sixty-one, it was provided that it shall be at the option of holders of the Treasury notes hereby authorized by this act to exchange the same for the stock herein authorized, at par, or bonds, in lieu of which said Treasury notes were issued," and this option would be more appropriately restored than any other; and Whereas it was provided by an act approved February twenty fifth, eighteen hundred and sixty-two, when duties on imported goods were received in gold exclusively, entitled "An act to authorize the issue of United States notes, and for the redemption and funding thereof, and for funding the floating debt of the United States," "that all duties on imported goods shall be paid in coin, or in notes payable on demand, heretofore authorized to be issued, and by law receivable in payment of public dues; and the coin so paid shall be set apart as a special fund, and shall be applied as follows: "First, to the payment in coin of the interest on the bonds and notes of the United States; 66 Second, to the purchase or payment of one per centum of the entire debt of the United States, to be made within each fiscal year after the first day of July, eighteen hundred and sixty-two, which is to be set apart as a sinking fund, and the interest of which shall, in like manner, be applied to the purchase or payment of the public debt, as the Secretary of the Treasury shall from time to time direct;" and Whereas by the act entitled "An act to strengthen the public credit," approved March eighteen, eighteen hundred and sixty-nine, it was provided and declared that the faith of the United States was thereby solemnly pledged to the payment in coin, or its equivalent, of all the interest-bearing obligations of the United States, except in cases where the law authorizing the issue of such obligations had expressly provided that the same might be paid in lawful money, or other currency than gold and silver; and, by the same act, "to strengthen the public credit," it was provided that "the United States also solemnly pledges its faith to make provision, at the earliest practicable period, for the redemption of the United States notes in coin"; and Whereas all the bonds of the United States authorized to be issued by the act entitled "An act to authorize the refunding of the national debt," approved July fourteenth, eighteen hundred and seventy, by the terms of said act were declared to be redeemable in coin of the then present standard value, bearing interest payable semi-annually in such coin; and Whereas all bonds of the United States authorized to be issued under the act entitled "An act to provide for the resumption of specie payments," approved January fourteenth, eighteen hundred and seventyfive, are required to be of the description of bonds of the United States described in the said act of Congress approved July fourteenth, eighteen hundred and seventy, entitled "An act to authorize the refunding of the national debt;" and Whereas, by the same act, to provide "for the resumption of specie payments," when gold coin was the only legal-tender coinage for all sums abore five dollars, it was provided that "On and after the first day of January, anno Domini eighteen hundred and seventy nine, the Secretary of the Treasury shall redeem, in coin, the United States legal-tender notes then outstanding, on their presentation for redemption, at the office of the assistant treasurer of the United States in the city of New York, in sums of not less than fifty dollars; " and Whereas, at the date of the passage of said act of Congress last aforesaid, to wit, the fourteenth day of July, eighteen hundred and seventy, the coin of the United States of standard value of that date included silver dollars of the weight of four hundred and twelve and a half grains each, declared by the act approved January eighteenth, eighteen hundred and thirty-seven, entitled "An act supplementary to the act entitled 'An act establishing a mint and regulating the coins of the United States,"" to be a legal tender of payment, according to their nominal value, for any sums whatever; such silver dollars being on the fourteenth of July, eighteen hundred and seventy, valued at more than standard gold dollars, and being valued on the fourteenth day of January, eighteen hundred and seventy-eight, at only ninety and eight-tenths cents: Therefore It was determined in the negative. On motion by Mr. Edmunds to amend the preamble by inserting after the word whatever" in the last line of the fourth paragraph the words |