The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1856-07-08
THE TEN CENT FALSEHooD.

|
the time that measure passed the Senate, in
the course of his argument referred to the
effect the sudden expansions and con-
fractions of Banks would have upon the
property and labor of the country, and ad-
vocated a greater proportion of specie for
the currency of the country. He said 1--WE
quote the very words in his specify 1T is
better for the lOboring man and every other
class of society except the Spectator, that
the business of the country should be pla-
ccd upon that fixed and permanent founda-
ton which would be laid by establishing
such bank reform as would render it GER
tain that bank notes should be alwys con-
vertible into gold and silver"
Senator Davis of Massachusetts, in re-
ply, argued (what was false) that Mr.. Blu
chanan was in favor of metallic currency,
and from these assumed premises went on
to show that European governments, where
| there was an exclusive metallic currency,
laboring men were employed for ten cents
a day-and therefore this Massachusetts
! Senator alleged that Mr.. Buchanan was
in favor Of a similar amount per day, for
! the laboring men of this country The
moment Mr.. Davis made the charge, in
| speech in the Senate, Mr.. Buchanan arose
and pronounced the charge 1--WE quote Mr..
BIS own wOrds) ga fagicious misrepresen-
tation of my This remarks" The follow
| ing are the concluding remarks of Mr.. Blu
chanan, made in the Senate, in the pre-
sence of the man who made the charge:
Il contended (says Mr.. Buchanan) that
it would not injure, but greatly benefit, the
labOrlnS man to prevent the violent and
ruinous expansions and contractions to
| which our currency was incident, and by
| a judiciOus bank reform to place it Oh a set
! tied basis. If this was done, what would be
| the consequence! That, if the laboring
man could not receive as great nominal
amount for his labor as he did in the days
| of extravaganza expansion which must al
! ways under our present system be of short
| duration, he would be indemnified and far
more than Unidentified. by the constant en-
! ployment, the regular wages, and the uni
form and more moderate prices of the ne
cesSarieS and comforts of life, which a more
stable currency would produce. Can this
proposition be cOntroverted! | think not.
| desire to produce this happy result, not
by establishing Il pure metallic currency.
but by reducing the amount of your bank
issues within reasonable and safe limits,
and establishing metallic basis for your
paper circulation The idea plainly ex-
pressed il, that it is better, much better, for
the labOring man, well as every other
class of society except the speculator, thai
the business OF the country should be plac
ed upon that fixed and permanent founda
ton which would be laid by establishing
such Il bank reform as would render it Ger
tain that bank notes should be always con
vertable into gold and silver
And yet this plain and simple exposition
of my views has been seized upon by those
who desire to make political capital out OF
their perversion; and it has been represent
ed far and wide that it was my desire to re-
duce wages down to the price received by
the miserable serfs and laborers of Euro
pcan despotsms. L shall most cheerfully
leave the public to decide between me and
my traducers. The senator from Massa-
chu>ctts, after having attributed to me the
intent of reducing the wages of labor to
the hard-mOncy standard, through the agen-
cy of the independent treasury bill, has
added, an appendix to his speech,
statement, made by the Senator from Ma
rylani, Mr.. MERRICK, of the price of la
Dor i'll these hard money deSpotisms; and it
is thus left to be inferred that | am in favor
of reducing the honest and independent la
borer of this glorious and free country to
the same degraded condition. The Sena-
tor ought to know that there is too much
intelligence among the laboring classes in
this highly favored land to be led astray by
such Misrepresentation"
W Z 1 - Al
oroughly refuted and turned against its au-
thors! And yet we find in the face of
Mr.. Buckanan's own positive denial of the
charge, and the fact that there has not
produced to sustain the charge, the know
nothing papers continuing the charge at
the head of their papers, in the following
form, which we take from the last Concord
(Cabarrus county, Gazette:
''TEN CENT JIMMY"
james Buchanan, the Anti-American
candidate for the presidency, made speech
in Congress, in favor of reducing the wa
ges Oflaborers To ten cents day. What think
you of that position, Mechanics and labor
crs of Cabarrus! Are YOU willing to work
than so disgrace yourselves. Will you
then vote for an iron manufacturing nabob,
whose avarice is so strong as to urge him
to give utterance To such n sentiment 1t
would be a god-send to him to have wages
reduced so low, as itwould line his pockets
at the expense of the honest laborer and his |
family. The people of Cabarrus will none
of him."
Now, if the Editor of the Gazette does
not know. he 'sht to know, that the above
is most outrageous falsehood, as shown
by Mr.. Buchanan himself. If the charge
be true, where is the proof! Why has it
not been produced! Simply because it
cannot be produced.
The opponents of Democracy, on all
hands, maintained with Senator Davis, that
the Sub Treasury law would not only bring
the price of labor down, but that it would