, 1864-04-30

speech OF Hon. II. G. StebbInss
The eloquent aud convincing speech deliv-
ered in the Honse Of Representatives. on the
18th inst, by Hon. Henry G, Stebbins, of the
1st district Of New I ork, is published In full
in the Glo1e Of Saturday last. Mr.. Stebbins,
IS m2ny Of our readers know, is Of the well
known banking htuse Of AcAl1ister i Steb-
bins. Tic was elected to Consre' s as Dem
octat, over Richard G. NcCormick, {Union,)
bnt i.as iron, the first stood by the Admins
tration in its efforts to put down the rebel
lion:
1Ir. Stebbins began with statement that
the preservation Of the credit Of the country
demands the establishment of d system Of
taxation sufficiently broad to meet its require
ments during and after the war, and proceed
I'd to show that the war has thus far cost
the people but little over three dlths of the
increase Of their wealth for tic past three
years. This increase is admitted to hare
BEEN 81 ,4o0, 0o0, 600 since 1861 while thc ex-
peiIses Of tie war haye only reached 81 ,G00,-
NUG00. Here, then, {said AlE. Stebbins,} We
hare tie remarkable Lct that this war has
been conducted upon scale unknown for its
magnitude In the history Of nations, at cost
per aanun less than the aggregate profits of
tAs industrial pursuits Of 1he country, leay-
ing wholly unimpaired it's rast fund Of ac:u-
statements By the production Of Numerous
st"tistics.
Contending, therefore, that the war thus
iar las been Of no vital injury to the people
Of the Tree States-that it l.as nat diminished
Its resources single dollar, and that SO long
as 1t is conducted by and within themselves
1t will only tend to dcyelop their Immense
rtsourccs, md be the means of exhibiting In
degree lEat nothing else could haze done
tic Overwhelming power OF the nation, he
procet dtd to show that wars do not neces-
ssrily impair the means Of future production,
| citing the Aistury of thc debt of England as
I'LL Illustration. The bill now before Con-
4! .sees 10 rIiae revenue cqual to fifty per
| clEt Of t1e Governments requirements be
regarded IS but prTt Of the great chain
witch is to be forged by this Congress to
| hold the Dation together: ard ic ;Gis cog
| ncct;oE he Unmarked:
| 81 l;!l which s;4au strike down thst p.;i
OF OFT t.:reisn ca,1 mcrce ..:aich G.ls tie laal
viii. t&t.-Arlra1t 1ESuric5 O: tho Gid Wo.:d
sas..:,j tio:cuily 1;licH this one. 1t should
2leo establish 9 tariff Of duties so kicu Oh
otEer articles that ererg part OF our mauu'uc-
Vigorous liie. We A;ae:1cans should i've
Within Ourselves during the continuance Of
this war, and sell what products we mAr
lave Tor gold, and NE shonld maintain this
| a,tit;:dc aud continue tllis policy until TIE
great problem Of ouc natlonal existence is
finally @Ld to1eger folrr1,'
sToci1SG EXPECTATIONS.
Abiding Incidentally to tac Lax Of SYM
ra1hy fro1a France and England Which re
have experienced, alrsSte1utns added:
81 Their policy: has already destroyed or
rendered usyle6s the greatest com;nc7cial
marine in the world. All the injuries they
could inflict have bccn Inflicted. Let Us.
laeor hereafter only for the certain re-cstao-
i3tb1ngnt Of the Ataerfcan Union up)1 Il ba-
eis as broad and us long ns this continent,
TO tkut We ri y establish justice, insure do
| mystic tranSrilitr, provide for The c3,n313'.
! defence, promote the general welfare. aad Sc
cure thu blessings Of liberty TO oarsesrcs and
fo-m to this i9ca; AID sec what . splendid
| spectacle tht American people will present
| TO the Torli. Prohibit the cSpo:tatio1 or
every dollar Of gold scd silver, Q! eresr bush
| FL Of grain, Of EVERY pound oi beef and pork.
or adopt tie policy OF q 1,rohibitory tariff.
Of 1ht g:ote TINT America .sM i'erpetuate her
greet principles throughout a1i tiulr aud
| ttat, until the question .e to her power a1l
right to 10 60 Is definitely settled, she will
| draw The Etsoprces for the CONTEST In which
She is engaged iron. her 0wu b.aat dom lin,
| and from the incAhausttble treasury Of her
own prosperous people that she will hold
| 10 Intercourse with foreign nations nrtil
[ after the war, none whatever. Sit, such q
rou1ee would secure . Triumphant suceess
10 the American nTns to American Industry
| iii It's mnltifariDus 1tauclrs, and sander Us
forever independent Of tht :7orl1.n
Quoting from N.caul:y 20 5sao9: the osi g,a
and growth at the pul!:c deb. Of Eu1;i413,
aEd from Mccullough To I'ro-c tie incr:asc
! aftAe BTitihi, customs reTcnne. he Illustrated
the ability o1 the CEltti States 70 establish
| j,s rLt;oucl csrt:It Upon i lirna tounda:iou.
| lie ar rcd t;.st :.,e lax law rhuul2 proluce
S::,.,t Ue,tLU Il year, n.,i that 1t could produce
SsGp,eU(fu without injEry to The Interests u!
| In, ccunfry or lie people. To this wise and
| elective LEGISLATION he added the aid of the
uatioual currency system, which he warmly
approyld. Concerning the state bauiis lie
epoke as follows:
THE nAsEasc SYSTEM. -..
aBut. sir. III order that the Ratscaa( 1aan.
cjal plan shall b. all that is expected OF It 5r
its friends, it mist hike the place OF the local
| state banking 81 stem entirely. It cannot Co
exist with the local ptGte banking system.
Mo two plaps working against each other
| will certainly be destructive OF cach other,
I and Will involve tile country 10 still Larger
tucrilcee, and initiate to still greater degree
tue prices Of al the necessaries Of life a.
low fnytcli to believe that such calamtty t.
T. rot to be entailed upon this country, and that
tic most efficient legislation that can be de,
| devised By this Congress will DC introduced
and adopted to guard the possibility oi 5uch
result happening -,
II permit myself TO nope t1at oola ol
these measures are measures Of the character
! have described, aud in the absence o. otnef
and better ones / accept them as indtspenG.
able TO The success of the national cause, and
believe TINT they will meet and satisfy the
public demands"
| TIE GOLD SPECULATION.
Tie gold speculation he censured In toe
following strong terms:
"a tax on the sales of gold, occupying, %
gold does, so Important relation 10 toe
pr1ccs Of The commodities in which men dea
Which nre necessary to the Government, AND
also to the prices Of the necessaries OF Life,