Silver Coin for Fractional Currency--Silver as
a Medium of Circulation--Its Fluctuation in Value--Importance of
Gold as a Standard of Value--Changes in the Market Value of Silver
Since 1873.

The silver question was suddenly thrust upon the House of
Representatives on the 5th of November, 1877, by a motion, submitted
by Mr. Bland, of Missouri, that the rules be suspended so as to
enable him to introduce, and the House to pass, a bill to authorize
the free coinage of the standard silver dollar of 4121/2 grains, and
to restore its legal tender character. The motion to suspend the
rules cut off all amendments and all debate. Several members
demanded a hearing. Efforts were made to adjourn, but this was
refused. The previous question being ordered and the rules suspended,
a single vote would introduce the bill without a reference to a
committee, and would pass it without any power of amendment, without
the usual reading at three separate times. The motion was agreed
to by a vote of yeas 163, nays 34. So, two-thirds voting in favor
thereof, the rules were suspended and the bill was passed.

The first section of this bill provided that there shall be coined,
at the several mints of the United States, the silver dollar of
the weight of 4121/2 grains, troy, of standard silver, as provided
in the act of January 18, 1837, on which shall be the devices and
superscriptions provided by said act; which coins, together with
all silver dollars heretofore coined by the United States, of like
weight and fineness, shall be a legal tender at their nominal value
for all debts and dues, public and private, except where otherwise
provided by contract; and any owner of silver bullion may deposit
the same in any United States coinage mint or assay office, to be
coined into such dollars for his benefit, upon the same terms and
conditions as gold bullion is deposited for coinage under existing
law. Section 2 provided for repealing all acts and parts of acts
inconsistent with provisions of the act.

Thus this bill, of wide-reaching importance, was introduced and
passed by the House under the previous question, and a suspension
of the rules without debate on the same day of its introduction by
a vote of yeas 163, nays 34. It was sent to the Senate and referred
to the committee on finance.

On the same day Mr. Ewing moved in the House of Representatives to
suspend the rules and adopt the following resolution:

"_Resolved_, That the b