Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1863-04-22
From the New York Times, April sth.I
TME COPPEREEADs IN COUNCIL.
Speeek Of Hon. Fsraando Wo0d-His Prtnci-
pies and Plans, his Hopes and Fsars. his
VTath and IRDOtenee


the platform were seated several persons who forer
held responsible positions under the State end unieips
governments also numerous other individuals Of m6c
.ess note. a band OF music was Ia attendance whlc
inerpersed the proceedings from time time with pa
trioic and popular airs.
Previous the organization Of the rneetfrg p-inte
nsnobilsi emitted song Of the Loyal Leagus' aLoya
kesoutiOnsn Flight for the Niger etc the nurDar
Of which seemed to be burlegque the actions Of th
Loyal Union League, were extensively scattered smon
11e eaoienee Ihe meeting was called to order BY Mr
Benjamin Ray, and presided by Hen Wnl Chaun
cey long Lst OF vice presidents and seerstares wa
ieaa oy " stephen T. Russell and accepted by acca
nation when DR.. bradford read resolutions expressing
opposition 10 the policy Of the Adrnnisfra ton denaud
ing change Of meas ures, denounciug ofesi n'erfer
ence with the rights Of citizens and co9qratulaiory
upon the success Of prominent members Of he Demo
cratic party from that aaeent organisation which were
passed oy aceamaton sfer which, Ex-Mayor Wood
was introduced
Speech Of Fernando Wood.
Mr. Wood after the vOoisroas applause had subsl5ed
1 FELLOW CITIZENS: The public man v 10 fails to mee
tae TesPon -ibilty Of this crisis, Is unfit for pub
ne euiy care not whether the failure comes from
taIiy on tfeaen1rn either case be Is guilty Of inf
deity 70 the public interests These are no times f5l
hessiion These are no times for failure meet the
conGiuon o. The country as It exists These are no
times for bae resort 20 the base dictates Of noneom
NIT alism or 20 avoid she responsibilities ef the ocea
SION The country is Ia rovolutiOn-aye "a two revo
luu7ns-a revolution at the Sonth. prosecuted BY the
sword, ana reyo uon at the North prosecuted BY leg
lsaye anc executive usuTpaton The latter is more
llDl-tr u5 lFLeLlFes more to be feared bV the
people tdaa the former The South wages ainst
/ the government by open, manly, defiant acdon The
other revelation at the North under an absolute gov
/ ernIlell wages war nrst by exciting and utOEcang
the public mind by appesls to patriotism and then
VI the public mind has committed itself fully and en-
trely 20 cause-that Of reunisu-it Is subvertel
snd used Tor annther purpose unconstitutional fuhu-
man auddestruetive of the government uuder which
we i've Aud it Is my friends. this latter effort "a revoIu
tion'ze our government and destroy cur institutions
that we i'm my Judgment, met tonight to resist.
and, my friends resist an immense noyver No
party no potenae Administration ever has had for
Us support com 'inaton Of such powerful Interests
this In ordinary times, the interests the same
clements Of society concentrated in behalf OF any Ad-
miuisraiOu, would be Eucent te sus ain that Admin
i.uatlou under all Circumstances. and st al timss
NOW hat sre these elements which Fustain the inter
esis which this Administration has succeeded in co
biuins 10 is support Listen TO for moment my
friends while give them 70 you iu detail TIE Admin
israt0B rst have the whole banking in4era7g Of the
country az their comuaud. At the breski1g ont OF
Jue VIZ Two years ago, they effected loan here for
Sl50O9O009 in three instsmenfs Of $4,000 600 each
The whole country was aroused 20 sustain the Ad-
minis 'rGtion1 WHIST believed to be an EFFORT 70
sustain the government against The rabeTI.ar Onr
banks went into it. This movement eui,ely absorbed
the whole banking capital OF the country Then fol-
lowing up the absor6iOn Of the whole banking capital
Of the country, wit hrawng Il from its laeinnte fnac
uou OF trade, we had the Secretary Of The Treasury
sPpeslag to Congrss to pass law TO entirely ignore
ana aoons1 the ate oanking Institutions placi-R hem
entirely under contributions to she Federal Govern.
ment We have in the City Of New York 2 banking
c2piai Of about so OlO OO0 and these procured
to-day in official qu srterzths entire hank ranffs1 ~ re
City % New York is SO 000Oc0 and the banks OF he
CRY Of New YORK hold today SIS O0O000 Of Govern.
neut securities, and pledged loan the government
SO OoOCOOm addition Thus we fnd that the Govern.
meu have laid under contribution and have rendered
directly amennble TO them the entire tankng interest Of
the county Thus u 5 my friends that the bauks great
power In his clmmuuity-a great power in North
America-thus the banks, first because their whole e
=nCa y ain at the feet OF this Administration (becauss
when the Adulinisra ion goes down, they 20 down )
the banks from fear ofuturs and further eueroacb
menis upon those te7es!s are made directly instrument
haaH
10 sustain this Administration. Bat thss not all That
is cement number one pledged and bound hand and
foot 10 sustain tee Administration in this aggressive war
policy as now conducted-eompeled from motives Of
ssfnterest from motives of fear Secondly the whole
rairsar interest Of the country N IN favor vigorous
prosecution Oh the war The railroads never carried
much freight--naver carried many passengers The
recspts Of az kinds OF every road In the eouurr for
tie last two years have been greater than for su Eve
years previous since their existence AMI TO the great
central railroads Of Maryland Pennsylvania and N York
the Baltim0rs ami Ohio Railroad the Psnnsvlvania
Central Railroad the Nsw York and Erie and the New
York Centra-their receipts have been stupendoux a
leg from the The closed the Mississippi river
aud the tributary waters and closing the Mississippi
uyr closed the great channel which carried the i'm
measa products Of ths West down 10 the Southern
markets. These products were forced across TO the
Eastern markets and the immense Of freight went
and the Union Is restored and the Mississippi
river Il opened the receipts Of these ralroad-hese
immense and powerful roads-Wiu fall of fifty per
cent Now, my friends, have not these roads an inter
est NJ the vigorous prosecution Of the Warf You will
lind in the leagues and public meetings that called
10 sustain tha Administration IN ths war you viii
find your bank presidents from one cause and your
railroai Presidents and dreetorS from another cause
All these interests though actiug frcm opposite impul
and opposite interests have al eonverzsd 10 the
poiniin favor Of the patriotic and disintsrastsd
support Of the government Well my friends there is an
other interest tats exceedingly patriotic New England
New England that before the commencement Of this
war sHbsisteg as she does entirely upon her manu-
fsctres she had her best customers in the South not
withssudng her Pa.iics, notwi hstaadg her hypo. 1
critical professions Of hatred Of the uton Of slavery
New England has bees supported for hundred years
by the Institution OF slavery and she held slaves her
self until 10 ceased to be profitable and when she could
make no more money ont Of slave labor, she turned /
phauthropic Gndset her negroes free Now since the
finds profitable substitute in getting contracts from
the government and in supplying the and re-
ceiyng Immense disbursements Of the public mopey.
Aud so long New England participate in theho
lar long she participate in the profgste ex
pendjure Of the public money, by the hundreds and
hundreds OF mill ons 1st so long Ti New Eng and be
pstrodc and 60 for vigorous prosecu ou Of the war
Wei my friends, tie is ther interest that goes for
the war Ihsrs Is, in this commercial community, /
a large class called tbs debtorelass Our American 4
character Is peculiar We are commercial enter \
prisne. ambitious. oFerresching. man makes a /
hun Ire dollars and he invests il, and hundred
credit for the purposa OF doubling L. We are always
ia debt New York BosOn5 PHILADELPHIA indeed al the
great cities now in the free ates are isdsn down with
debt This debtor class see that By continuation Of
the war there mnst be continuation Of the public
expenditure. And by continuation Of the public ex 1
pendiure the government must increase its debt by the
carcely noDe not derived from credit by Of the
issue Of legal tender notes Now the dissemination Of
these hundreds and thousands Of millions Of dolars pro-
duces an artificial penhfulness Of money it enhances
tho prices Of commodities, and as the government
credit expands the government credit lessons and shat
& what makes the difference between government gold
and government currency An artificial stimulsut is
zivea o. trade and the FsB1lt is that who g. IN
debt lives upon this osedt because the government Ike
himsel IS in debt land be hopes Ncswber ke that in
the general Initiation something wil turn 70 enable
him 70 pay his debts. Ny friends this Is immeDss
element q midst i taking with the 1
other dsy who said for the bsesuse is makes
money plenty Says ]. No credit is plenty" Says
he: Il know that but hope to get out before tae
crasb comes Now this patriotic element In New York
favor Of blowing tbs balloon wide, and " der
in homes that By this inaati0n and censi0n it may
safe Il makes difference TO them whose hs ads are
10 ee crushed In the fall But my friends, this Is moi
ell. They have yet snSther element. more powerful
still They have the element Of the legion Of ofice-
holders contractors and government employees. Il is
susceptible Of mathematical demonstrahO7 that there
are more civilians day dependent upon the govern
ment than there soldiers in the army thst has been
raised by the government FOR the last years that the
army Of oiceholders and contractors of government
employees employed directly and indirectly amount IN
the aggregate to twelve hundred thousand persons
Now my friends, that army Of twelve hundred thou
sand uersops dis.. 5uted throughout these tweny
States sl Of them working and toiug for the Adminis
frsoa al Of tem "a receipt Of large incomes can ai
ford TO expend It for political purposes When you
come to reflect seriously upon the ct that twelve hun
drsd thousand persons being mingled WITH al couHu
uifies Industrious and peTseveri with interest at
stake why you have powerful element 10 favor Of
and vigorous prosecution OF the war Then
Ne have the Administrstion--Re have the Preadsn-
and the Cabinet who think they ia the continuance
Of this war reelection and reten on IN Office If not for =
aa her Term Il they would dare TO ty t for life
me And the whole IS power, great power. pow
err hichnv friends subverted the elective rsnehise In
our glerious little State Of Connecticut yesterday
Then have another class, who hsvs been tired Of