New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-03-05
old bin be said, with logical impressiveness which


was irresstible
III this four hundred millions Of currency were
secured to be paid to-morrowf the nation could
it begin 20 die and disappear by the establishment of
sinking fund Of 10 per cent per annum, which would
absorb oil in ten years by Legislative sanction the
Secretary should direct the burning Of sloooo Of
day until the whole destroyed, do you imagine
you would hear anything more OF rises In gold Sir.
those would be the death Of the Spectators on
the GARD. and the nation would rise above their
fears and anxieties full Of fresh power and hope. The
passage Of ibis bia 10 authorize the Secretary Of the
Treasury sell from time 10 time e snrp!Is gold IN III
Treasury rould IN ny opinion, Aars eorrsspoxdiaS
sfect and tend prodS i0Hsiy 10 TIE reductions Of As 81
penSss Of the Gorern~eHL"
Mr. Stebbins then unveiled and attacked the articles
by which peoples money deprecated In the great
eldest
II would ask the House TO regard New.York City the
great commercial and financial center connected with
every city and every town OF any Importance IN every
State not in Rebellion way 10 the Pacific by the cleo
trio wire The opinions Of representative men are
solemnly uttered In this House that National Bank
ruptcy and reputation are surgng at our feet 10 en-
gulph us within q month. The lightning that flashes
this fearful utterance the country flashes IL back
the city of NewYork from innumerable points In the
shape Of positive orders to bay gold To buy merchan
disc ~ bay commodities Thousands Of orders roach
that great mart in an hour and through oil hours Of the
day and hence traffic bouodless in extent and all In
direction all 10 purchase property at the market
prices and without limit is hourly carried In that
city br q frightened and frenzod population Has
the currency deprecated because Of these transacjonsf
Ia National Bankruptcy really here because Of the
ing O new and most important part in the affairs Of
men, and for the first time In the greatest drama In the
history of ~ concentrates and 90 intcnshes
tie incidents ia human life entirely governs and
controls them that those who the present by
the past utterly fail Of arriving at proper and Just
cusoDs. Formerly the world waited for the mails and
slow coaches To-day Chicago and NewYork. San
Francisco and Now York, think and act together.
How important is u that they should think rightly.
How dreadful the consequences II they are made TO
ibink wrongly.
''sir look .ur the moment when the people Of the
United States moved by different impulses, Influenced
by camer councils, led by wiser judgments, and en-.
ightened by the spirit OF truth Will with clearer
vision the actual condition OF their country and be
overw hclmed with shame and modification at their
own weakness and folly. Sir, then shall realize and
admire the singular influence eYerted upon the affairs
VI mankind by this modern engine Of civilization
Electricity. When recognize that this great In.
iluence public effort In direction whether
for good FOR evil and rolls public thought into one
channel In the most astonishing manner. actually NOV
ing nation as 1t were by single spark Of Its subtle
and at times that spark controlled perhaps by one
To %r tho pr s
which the greatest nation In tho worlds history has
been laborDg for the past three years and laboripg
more to day than at any other period during the war
Suppose. Sir some vast thoater crowed with thou
sands 81 human being absorbed in dramatic spectacle;
and suppose Sir In the midst Of their happy absorption
two three OF voices should suddenly raise the ap
psiDg cry Of fret and rush toward the narrow en-
frances for the street Does II need any prophecy 10
foreteu che fearful disaster that would while this
frcnLcd multitude dashed Al the CONTRACTED Ouf&ek,
and through the crowed corIidOrsi Hundreds might
be cruxhed limbs be broken; numbers suffocatcd.
while Thousands might be robbed by the brtgands who
had perpeated the calamity for the purpose Of puDder
Sir wall any undertake 10 say that the building
really FIRE only because OF the Infatuated cry Of fire
Sir and. SIR, this 10 precisely the case OF the peo
pie Of this country During the past three years dsoy
voices have kept crying hrei against the National
finances and there have been conyusiye movements 10
the fearful calamites said 20 threaten the Paper
system and which Is finally 10 be entirely demolished
And While this cry continues. and every imaginable
auxiliary Is used - mLgneure the nation into such
belief and while the nases rushing out OF the Fed
crn building In mad disorder. system Of pisye has
been going forward that dehes description. and human
ingenuity Is taxed 10 its utnost 10 keep up tho alarm
that abe spols Of the yDlaisy may augment and the
opportunity for plnhder be protrsc,ed yet awhile
this aHdaous state OF things The first step that we
are bs1pd ~ take 10 TO rseps ia GopoN@>n from tAs
fearful posift0n Of beRH ASardr Of gold IL cannot
afford % be instrument IN the hands Of It's enemies
participation in n, dspreoa,,oS Of rs eureHey eontd
crate tsitA The culators Of The ssabodrd"
Thy mastery speech Of Mr.. Srebbins was remarkable
sr It's frequent recurrence 10 the safeguard Of the
ton which Secretary Chases financial policy affords.
Just before he sat down, lie said;
81 r, 1 repeat with all the emphasis am capable OF
expressing. that In advocating every measure FOR
financial stem; by encouraging the
Secretary OF the Treasury to perseyere in carrying Out
the ID as distinctly presented In his Annual Report; by
pointing out 10 the extent OF my humble ability the way
10 roll back the that has set In such irresistible
force against the public credit; by pointing out the
OF our country and showing that an issue
Of 500 O0 600 of currency Is only substitute for the
gold and bank circulation 1t has displaced. fulfill my
duty as Democratic Representative"
And the historian Of New York politics who shall call
the roll OF the Democrats Of that State who have I'M
pressed themselves upon their countrys administration
will pause the Of Harry Stebbins. and say. lie
was without fear and without reproachi" sw.
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