ill to repeal the third section of the
resumption law be made the special order, not to interfere with
any appropriation bills, for to-morrow at the expiration of the
morning hour, and from day to day thereafter until the following
Tuesday at three o'clock, when the previous question shall be
ordered on it and on any amendments then pending, all amendments
meanwhile to be in order, provided the time shall be extended, if
necessary, so as to allow five days after the morning hour for the
consideration of said bill and amendments."

This resolution passed by a vote of yeas 143, nays 47.

In consequence of this action of the House, the syndicate declined
to offer the bonds, and no further calls for six per cent. bonds
were therefore made.

On the 7th of November August Belmont wrote me from New York as
follows;

"I fear that the threatening position of the silver question will
check completely any demand for the four per cent. bonds here and
in Europe. The damage which the passage of this measure will do
to our public credit abroad _cannot be over estimated_. To remonetize
silver upon the old standard, and make it a legal tender for all
private and public debts, will be considered by the whole civilized
world as an act of repudiation on the part of the federal government,
and cast a stain upon our national credit, which has hitherto stood
as high and bright as that of any government in the world.

"It is just as much repudiation for the federal government to compel
its bondholders to accept the payment of their interest in silver,
which is at a discount of ten per cent., against the gold which
the government received for the bonds, as it would be if Congress
decreed that all the bonds of the United States should not bear a
higher interest than two per cent. per annum. To do such a thing
now as is contemplated by the Bland silver bill, when the federal
finances are in a flourishing condition, when the premium of gold
has been reduced two and a half to three per cent., and when our
funded debt sells equal to that of any other public security in
the world, is actually as if a man of wealth and position, who had
by a life-long course of strict honesty acquired the well-earned
confidence and respect of his fellow-citizens and of the outer
world, should in the midst of his affluence, and without the
palliating excuse of any temptation of want or necessity, commit
open theft.

"I am sure I do not over estimate the dam