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Newspaper
Troy Herald
Location
Troy, Missouri, United States of America
Date
Feb 27, 1878
Page
5
The Troy Herald reports Pittsburg protests against tariff cuts while Congress readies repeal of the resumption act. It notes the Rende trial ending in life imprisonment, Hayes denying interfering with the returning board, Louisiana controversy, and Sherman predicting the silver bill faces a veto with mint output around 3 million monthly.
A London dispatch notes Russia pressing toward Constantinople with San Stefano seized and Bulgaria to be occupied by Austrian troops, signaling harsher peace terms and a chance of broader conflict. Europe faces potential mobilizations as Russia aims to control the Black Sea and close the Dardanelles, while Austria may act to shield Vienna. The papal conclave elected Cardinal Pecci as Leo XIII, with powerful praise from Rome observers for his learning, dignity, and prudent leadership.
The passage outlines coinage of silver dollars weighing 422 1 2 grains Troy with standard silver, legal tender at nominal value for all debts. Treasury to buy silver bullion up to 2 million monthly, coin and issue dollars, seigniorage to treasury, and limits on bullion investment to 5 million. Repeals inconsistent laws and invites European nations to discuss a common gold ratio.
A draft treaty outlines a Europe wide monetary conference within six months with three U.S. commissioners appointed by the president and Senate consent to attend. Each commissioner would receive 2500 dollars plus expenses, with funds appropriated from the treasury. Provisions authorize coin holders to deposit notes for certificates of ten dollars each, with certificates receivable for duties and public dues.
The platform declares retirement of National Bank notes and issue of Treasury notes with legal tender. It supports United States notes as full legal tender, government monopoly on money, taxation of US notes, opposing home debt funding schemes, restoring silver dollars, repealing the resumption act, and strict public economy. It advocates wage protections for workers and teacher funding, plus cautious banking regulation and school funding safeguards.
A historical manifesto condemns federal excesses and court overreach, denounces Republican leaders and illegal returning boards that thwarted Tilden and Hendricks, and demands curbs on federal jurisdiction, protection of electoral rights, and a pension parity for Mexican War veterans with 1812 vets.
The Greenback convention at Toledo Ohio drew delegates from 28 states and approved a platform urging national money issuance by the government, abolition of privileged creditors, government jobs for labor, a graduated income tax, public land protection, and strict economy. the movement aims to place educational and labor protections at the core of public policy while abolishing private honors and offices.
The text calls for reducing daily work hours to aid mental and social welfare, adopting a unified monetary system to harmonize terms and shipping costs, and sharing capital and labor earnings to curb extreme fortunes. It urges a national and state labor bureau, bans prison labor contracts, and prohibits importation of servile labor to address a serious national issue.
Judge Whittater of New Orleans denies Thomas C. Anderson's bid for a new trial, affirming the verdict as supported by the evidence. Testimony on juror disqualification is deemed inconclusive. The piece notes political pressure from Sherman & Co and calls for action on repeal provisions in appropriation bills and free coinage restrictions.
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