. A history of the United States . e whites assumed com-plete control, and the South became solidly Democratic. Itwas charged that Hayes, by acknowledging the Democraticgovernments in the disputed states,practically impugned his own was, however, bound to accept thedecision of Congress which declaredthat he was legally elected. The administration of Hayes was awelcome calm after the troubled yearsimmediately following the Civil of any events of striking charac-ter, it has often been spoken of as a rutherford b. administration, and it has not received even from
. A history of the United States . e whites assumed com-plete control, and the South became solidly Democratic. Itwas charged that Hayes, by acknowledging the Democraticgovernments in the disputed states,practically impugned his own was, however, bound to accept thedecision of Congress which declaredthat he was legally elected. The administration of Hayes was awelcome calm after the troubled yearsimmediately following the Civil of any events of striking charac-ter, it has often been spoken of as a rutherford b. administration, and it has not received even from the Republican press the credit towhich it was justly entitled. President Hayes occupied anexceedingly difficult position, which he filled with dignityand with skill; and his influence was always exerted on theside of morality, justice, reform, good government, and soundprinciples of finance. It is likely that posterity will ratehis administration very much higher than his contemporariesrated it.^ 1 Ex-President Hayes died, 362 HISTORY OF THE UNITED STATES. 388. Silver Bill. (1878.) — In 1870, in order to strengthenthe credit of the government, Congress had made all bondswhich might be refunded payable in coin, and in an actpassed February 12, 1873, in which the list of coins to beissued from the national mints was revised, the old silverdollar, which had been practically out of general circulationfor many years, was dropped from the coinage. Previouslyit had been overvalued, that is, the silver dollar was intrinsi-cally worth more than the gold dollar; under such circum-stances there was no reason for continuing its after the passage of this bill, by which silver wassaid to be .demonetized, that is, to be no longer a legaltender in payment of debts, the production of silver wasgreatly increased by the discovery of new and rich mines inNevada and elsewhere. The effect of this increased produc-tion Avas to make the value of silver in comparison with gol
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