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SOUTHERN BANNER. MARCH 12, 1878
ho be anticipated
. n. X
Said to ite jjftb| liglitest-triahln£>t the mo»t
bcmtifal, TrhrajKiirt, best, nnd largest Sewing
Machine in the world. Ladies and tiie public
are invited to call and see, at the Office, next
dcor to Wm. McDowell’s, College Avenue.
THE SILVER VETO.
Washington, February 28.—The
following is the full text of the Presi
dent’s message vetoing the silver bill:
“ To the House of Representatives :
After very careful consideration of
I ’ use bill 1,093, entitled, ‘ An act
t«> authorize the coinage of a standard
silver dollar and to restore its legal
tender character,* I feel compelled to
return it to the House of Represen
tatives, in which it originated, with
my objections to its passage. Holds
mg the opinion, which I expressed in
my annual message, that neither the
interests of the Government, nor the
l>eople of the United States, would
he promoted by disparaging silver as
one ot the two precious metals which
furnish the coinage of the world and
that legislation which looks to main
taining the volume of intrinsic money
to as full a measure of both metals
as their relative commercial values
will permit, would he neither unjust
nor expedient, it has been my earnest
desire to concur with Congress in
the adoption of such measures to in
crease the silver coinage of the coun
try as would neither impair the obli
gation of contracts, either public or
private, nor injuriously affect tbe
public credit. It is only on the con
viction that the bill does not meet
these essential requirements that I
feel it my duty to withhold from it
my approval.
Mv present official duty as to this
bill permits only attention to the spe
cific objections to its passage which
seem '.<> me so important as to justify
me in asking from the wisdom and
duty of Congress that further consid
eration of the bill for which the Con
stitution has in such cases provided.
The bill provides for the coinage of
silver dollars of the weight of four
hundred and twelve ami one-half
grains each of standard silver, to be
legal tender at their nominal value,
for all debts and duties, public and
private, except where otherwise ex
pressly stipulated in contracts. It is
well known that the market value of
that number of grains ot standard
silver during the past year lias been
from 90 to 92 cents, as compared
with the standard gold dollar. Thus,
the silver dollar, authorized by this
bill, is worth 8 to 10 per cent, less
than it purports to be worth, and is
a legal tender for debts contracted
when the law did not recognize such
coins as lawful money.
The right to pay duties in silver, or
in certificates of silver deposits, will,
when they are issued in sufficient
amount to circulate, put an end to
the receipts of the revenue in gold,
and thus compel the payment of sil
ver for both the principal and inter
est of the public debt. One billion,
one hundred and forty three million,
four hundred and ninety-three thou
sand and four hundred dollars of the
bonded debt now outstanding was
issued prior to February, 1875, when
the silver dollar was unknown in the
circulation ot this country, and was
only a convenient form of silver bullion
for exportation. Five hundred and
eighty-three million, four hundred
and loriv thousand, three hundred
and fifty ol the funded debt has been
issued since February, 1873, when
gold alone was the coin for which
bonds were sold, and gold alone was
the eoin in which both parties to the
contract understood that the bonds
would be paid. Th«*e bonds flowed
into the markets of the world. They
were paid for in gold when silver had
greatly depreciated, and when no one
would have bought them if it had
been understood that they would be
paid in silver. The sum of $225,000,-
000 ot those bonds lias beei^ sold
during my administration for gold
coin, and tbe United States received
the benefit of these by reduction of
the rate of interest to 4 per cent
During the progress of those sales
a doubt was suggested tp to the coin
in which payment of those bonds
would be made. The public an
nouncement was thereupon author
ized that it
that any
gross, or any action of any depart-
raent of the government H would 1
of the principal of these bonds or the
payment of the interest thereon in
coin of less value than the coin au
thorized by the law at the time of
tbe issue of tbe bonds, being tbe eoin
exacted by the government in ex
change for the same.
In view of these facts, it will justly
be regarded as a grave breach of
public faith To undertake to pay these
bonds, principal or interest, in silver
coin worth in the market less than
the coin received for them. It is
said that the silver dollar, made a
legal tender, will, under its operation,
be equivalent. in value fully to the
gold dollar. Many supporters of tbe
'bill believed this* and would not
justify an attempt to pay debts,
either public or private, in coin of
inferior value to the money of the
world. Tbe capital defect of the
measure is that it contains no pro
vision protecting from its operation
preexisting debts in case the coinage,
which it creates, shall continue to be j
of less value than that which was the !
sole legal tender when they were j
contracted. If it is now proposed, j
for the purpose of taking advantage ,
ot the depreciation of silver in the !
payment of debts, to coin and make j
a legal tender a silver dollar cf less |
commercial value than any dollar, j
whether of gold or paper, which is i
now the Jawiuj money of this coun- i
try, such a measure, it will be hardly j
questioned, will, in tip; judgment of j
mankind, be an net of bad faith.
As to ail debts heretofore con-1
tracted, the sjJjtvr dollar should be i
made a legal tender only its market
value. The standard of value should
not be changed without the consent
of both parties to the contract. The
national promises should be kept with
unflinching fidelity, There is no
power to compel a nation to pay its
just debts. Its credit depends on its
honor. The nation owes what it has
led or allowed its creditors to expect.
I cannot, approve a b’ll which, in
my judgment, authorizes the violation
of sacred obligations. The obliga
tion of tbe public faith transcends all
qitc lions of profit or public advan
tage. Its unquestionable mainten
ance is the dictate as well of the
highest expediency, as of the most
ncessary duty, ami should ever be
carefully guarded by the Executive,
by Congress and by the people. It
is my firm conviction that if the
country is to be benefited by silver
coinage, it can be done only by the
issue of silver dollars of full value,
which will defraud no man, A
currency worth less than it purports
to be will in the end defraud, not
only tbe creditors, but all who are
engaged in legitimate business, and
none more surely than those who are
dependent on their daily labor for
their daily bread.
Rutherford B. Haves,
President of tbe United States.
Ex. Mansion, Feb. 28, 1878.
PIANOS DELIVERED
jlINT
ATHEISTS, GA.,
$170.
$170.
THE GREAT ESTEY ORGAN,
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PRICE LIST OP THE
Cheapest Furniture Bouse in Georgia,
IP. IE3L SHOOK,
No. 15, Marietta Street,••••* Atlanta, Georgia.
Dressing Case Suits, 10 pieces, only $75 90
Full Marble Bureau Suits, (Walnut)...... 58 00
i or 4 Marble « “ 38 90
All Walnut Suits “ “ 30 60
Parlor Suits, 7 pieces $45, $50, $60 00
Solid Black Walnut Wardrobe, ornamented top.... . $15 $0
Walnut Panel Bedsteads 8 90
Extension Table......... i .........*1.10 f
Walnut Bureaus $11; % or A Marble ....$15 00
Full Marble Bureau, only 20 00
Marble Hat Racks, only 12 50
Fancy Folding Chairs (nandsome).. $3 50 e&ch
Maple Cane Seat Chairs $6 00 set
Maple Cane Seat Nurse Rocker $2 00 each
Maple Cane Seat Full Arm Rocker 3 50 each
Wall Brace ArntChairs..... 9 00 set
Cotton and Straw Mattresses $3 00; Cotton and Shuck 4 00
Wardrobes, Sideboards, Marble Table Ettegeues, Fancy Rockers, besides
an endless variety of all grades of Furniture. Remember that I am the
ORIGINATOR of LOW PRICES in Furniture, and believe in short profits.
All inquiries cheerfully andswered. SEND AND BUY.
50 Bedroom Sets, 9 pieces; Walnut Bureau, only $20.
r>_ S. SNOOK,
teb2-2m. No. 15, Marietta Street, Atlanta, Ga.
bbbjvjxbjvi barber
DAVIS.
SAPP '
v r .>• '
BRIDY3
B«OP
Every
body in’
vited
to Call.
I will undersell any house hi the United States,
test this, wliiclfis to address
Gr. P.
There is bat one wav to
Broad Street. Over Burke’s Book Store.
52 Wh.it3laa.Yl Sfcrsst, Atlanta, Ga.
Pin nos and Organs in the South
$®“TIh* only Exclusive! I) - Co
feb5-tf.
’CLAIM to have the Largest Stove
in this market.
CLAIM to have the Heaviest
- Stove for the price in Athens.
Ahead of All
COMPETITION
Southern Mutual Insurance
COMPANY,
ATHEISTS, GEORGIA.
VOUNG l„ O. HAHItlS, President j
STEVENS ii OH IS, Srmtarjr.
(irons Asset-, Ajnil I. 1SI7, • • l>2 j
Resident Directors.
Youxo L. G. IfAltRD
John H. Nkwton,
I>r. Henry Hin.i.,
Aluix P. Hearing,
Col. Robert Thomas
in v22-wly
Stktess Thomas,
Ki.ixa L. Newton,
FkriUsand Pntstz r
Dr. K. M. Smith,
John W. Nicholson,
THE WHITE SEWING MACHINE,
WE OFFER THE ABOVE MAGNIFICENT
Ammoniated Super-Phosphate
To tbe Planters ot Georgi i, an 1 Inva 1
w . „ , ■ citation in recommending it to the fullest extent.
\\ e snail endeavor to meet till legitimate competition, and fell assured that nil who usol
onr articles will be highly pleasc-d with .the results. We also offer our j
“ Eutaw Acid-Phosphate ”
Which we lielicve is e. jiol to any in tin- market. 11 COTTON OPTION GIVEN IFiDESlRED ”
Call on enr Agent* tor Term-and Price-.
GEO W. WILLIAMS & CO., Proprietors,
agent A ATHENS, ' Charleston. South Carolina. ,
JOHN C. PITNER. (118-4m 1
. u nnot:on or tolerate the redemption
• ;ibait
next
J. BANCROFT, Agent.
JftWftMi) ni I'll* XT .0-1L
CLAIM to have the Finest Ar
ranged aud most Elegantly
Finished Cook Stove Manu
factured
e 0. ROBINSON
H as jsut returned from a visit
amon gtho Principal IT ANO and ORGAN
factories in New York, Boston and other cities-
having arranged for the Largest sad most com,
plcte assortment ever offered South, at prices
ABSOLUTELY
BEYOND COMPETITION!.
Low Pri es Quick Sake.-.
Musical Instruments
OF EVERY* VARIETY.
Sheet Music anil Music Boohs
CLAIM that'I'can* Furnish the j
Best Tinware in the State as
Cheap as inferior Tinware is
now sold at in Athens. {
CAN Substantiate the above
claims aud would be pleased to do so
to any one desiring to purchase. Call
and be convinced at the
SIGN OF THE BIG COFFEE POT.
Broad Street, Athens, Georgia.
J. C. WILKINS,
aug7-3p>
OgAIf
•niff
PLANTERS’ HOTEL,
AUGUSTA., <3--A..
The Leading Hotel of the City.
Noted for its cleanliness, and the excellence
of its table.
RATES—$3 00 PER DAY.
The Proprietor solicits from the citizens ot
Athens a continuance of that liberal patronage
they have heretofore given him.
S.7.BROWN, -/'•
octl6-lm. Proprietor
CBMTRAlt HOTJBX.
AUGUSTA,
>T
1
THE LATEST PUBLICATIONS.
Musical Merchandise,
And everything pertaining to a
First Class Music House.
TUNING AND REPAIRING, PIANOS,
Church, Pipe and Reed Organs, nnd all kinds of
Musical Instruments Tuned and Repaired by
Mr. C. II. Taylor, the best skilled and one of
the most thorough workmen South. Mr. Taylor
devoted nearly fifteen years in the construction
of instruments in some of the best factories in
this country, nnd is tbo only authorized Tuner
for the AUGUSTA MUSIC HOUSE.
G. O. ROBINSON & CO..
265 Broad Street, Augusta, Ga.
OK ELEGANT CARDS, no two alike, with
£i*J name, 10c.; or 15 Comic Photos or Ac
tresses, 10c.; or 2t) Fine Scroll Cards. 20 stylos,
no names, 10c. post paid.
uov20-2t. J. B. HUST D, Nassau, N. Y.
LIVERY, FEEO 010 Si E ST1ELE,
Atbeas; Georgia.
GANN & REAVES, PROPRIETORS.
Will be found at their old stand, rear Frank
lin House building, Thomas street. Keep al-
w^rs on hand good Turnouts and earetnl dri
vers. Stock well cared for when entrusted to
our care. Stock on band for sole at all times.
dcelDtf.
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GEORGIA.
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M. THOMAS, Prop'r.
; <i- -a jr% # l) Ms *n v.-< i
This Hotel, soTweR known to the citizens of
Clarke and adjoining counties, is located in the
centre of tbe business portion of Augusta, con-
venient to Post .Office, Tel^Sphi Office .awd-
.«;I9 ,,iit-Depot, and offer* inducements, to the public
,, aqequalcd bv any other Hotel in the Cit” ta.tu
decMf. — -
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0,8 . — —.— .•».*<!-nail
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a* t ' —
SAM Jitq rl
Boot and SKoe-Ha]ser F 1
jail iww:
ftet class work turned opt-dn short notiee,
at*rr»
Jtion really abiie at tbpoffico.
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