e severally rejected by large majorities.--After
providing, on Mr. Chaffee's motion, for certificates of not less than
$10 in exchange for silver coin deposited and redeemable in the same
on demand, the Senate passed the bill with its amendments, by _ayes_
48, _noes_ 21.

On the return of the bill to the House of Representatives debate began
on February 21st.--Mr. Phillips of Kansas advocated the double
standard with the ratio of metal properly determined, and he thought
this was done in the dollar of 412-1/2 grains.--General Butler of
Massachusetts was in favor of insisting on the House bill for free
coinage, and was seconded by Mr. Atkins of Tennessee.--Mr. Bland was
willing to accept the Senate amendments and then pass a supplementary
measure for free coinage on an appropriation bill. He added: "If we
cannot do that I am in favor of issuing paper money enough to stuff
down the bondholders until they are sick."--Mr. Dwight of New York
sought to limit the legal-tender quality of the silver dollar to $50,
and for larger sums to make it receivable at its value in gold.--A
motion by Mr. Hewitt of New York to lay the bill on the table was
lost by _ayes_ 71, _noes_ 205. The several amendments of the Senate
were then adopted; that limiting coinage by 203 _ayes_, to 72 _noes_,
and that for an International Monetary Conference by _ayes_ 196, _noes_
71.(2) The concurrence of the House in these amendments passed the bill.

President Hayes returned the bill the House of Representatives with
his objections, on the 28th of February. He based his veto on the
proposition that "the silver dollar authorized is worth eight to
ten per cent less than it purports to be worth, and is made a legal
tender for debts contracted when the law did not recognize such coin
as lawful money. The effect would be to put an end to the receipt
of revenue in gold, and thus compel the payment of silver for both
the principal and interest of the public debt." This he thought would
be regarded as a grave breach of public faith: "It is my firm
conviction that if the country is to be benefitted by a silver coinage,
it can only be done by the issue of silver dollars of full value
which will defraud no man. A currency worth less than it purports to
be worth, will in the end defraud not only 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."

The House