The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1864-03-19
BURLINGTON, SATURDAY, MARCH ls 1864

BURLINGTON, SAT-
; ton of the three named States, and of tn
seemingly destroyed railroad system
America, from their suspended payment {
interest and dividends, was strikingly cite
oy the speaker as but hitch in the econo
tlons; ana the final payment by Ohio, Penn
sylvania and Indiana, was accepted by hin
as establishing forever in the United State
the law OF honor and of justice in the paw
ment of public debts, upon which the worl,
could rely forever and ever. But turnin.
from the funded debt, Of which Mr.. Steb
bins said, ''it is matter of no consequence,
to the Government to what price it may de
! cline, for il Will only have TO provide fo
the payment of Interest, and it is who'll,
immaterial TO it whether it falls to 20 OF
rises to 12G," he looked at the peoples cur
rency, in the hands Of the people, and cried
This IS another affair. There is no tim.
fixed for its final extinguishment, and the
enemies OF the war seek to discredit anC
destroy It, In a strain of patriotic elo.
| quence he pointed out the cure Of the evils
with which speculation and treason threat.
en- and depreciate the popular money!
Among other things, he said: at is the du-
~ of every Representative in this House.
OF every rejecting and Intelligent citizen
in the nation, to .fomilidri-e the people spsN
ne PG~er, rcsoarces ana sceafM Of iheA
country,
Then, coming 10 the measure before the
House. the Gold bill, he said, with "a logical
impressiveness which was irresistible:
I'll this four hundred millions of curren-
cy were secured to be paid to-morrow-it
! the nation could see it begin to die and dis
appear by the establishment OF sinking
fund of lOper cent per annum, which would
absorb it all in ten years-if by legislative
sanction the Secretary should direct the
burning Of 100000 Of it a day, until the
whole was destroyed, do you imagine you
would hear anything more Of rises in gold? ?
Sir, those measures would be the death of
the spectators on the seabOard, and the
nation would rise above their fears and
anxieties, full Of fresh power and hope
The passage Of this bill to Gatsorize the Sec
retGry Of the Treasury to sell from time to
time the surplus Of gold tn the Treasury
T0utd, in my opinion, AGse q corresponding
effect, and tend prodigi01siy to the reduction
Of the expenses of the Government
Mr.. Stebbins then unveiled and attacked
the artifices by which the peoples money is
deprecated in the great cities.
II would ask the House to regard New
York City the great commercial and finan-
cial centre, connected with every city and
every town Of any Importance in every
State not in rebellion, way to the Pacific by
the electric wire. The opinions Of repre-
sentative men are solemnly uttered in this
House, that National bankruptcy and re-
pudiation are surging at our feet to en-
Nroph us within month. The lightning
tHNt flashes that fearful utterance to the
country flashes it back to the city Of New
York from innumerable points in the
shape Of positive orders to buy gold, 70
buy merchandise, to buy commodities
Thousands of orders reach that great mart
in an hour, and through all hours of the
day and hence q trafic boundless in extent,
and all in one direction, all to purchase
property at the market prices, and without
limit, is hourly carried on in that city by a
frightened and frenzied population. Has
the currency deprecated because of these
transactions. IL National Bankruptcy re-
ally here because Of the declaration that it
is? The truth is, electricity is playing q
new and most important part in the affairs
Of men, and for the first time in the great
est drama in the history Of civilization, 80
in human life, SO entirely governs and
controls them, that those. who measure the
present by the past utterly fail in arriving
ut proper and just conclusions. Formerly
the world waited for the mails and slow
coaches. To-day Chicago and New York,
San Francisco and New York, think and
act together. How important il is that they
should think rightly. How dreadful the
consequences if they are made to think
wrongly.
"Sir, ! look for a moment when the peo-
pie Of the United States, moved by different
Impulses, Influenced by calmer councils,
led by wiser judgments, and enlightened
by the spirit oftruth. will see with aclearer
vision the actual condition Of their country,
and be overwhelmed with shame and NOR
tification at their own weakness and folly.
V1S0 al oG ho
singular influence exerted upon the af
fairs of mankind by this modern engine Of
civilization Electricity. When We recog-
nize that this great influence coerces public
effort in.'One direction whether for good or
for evil, and rolls public thought into one
channe. in the most astonishing manner,
actually moving nation as it were by
single spark OF it's subtle power, and at
times that spark controlled, perhaps by
one mind for dark and unhallowed pur-
poses, We may begin to appreciate the mag
nitude Of the delusion, under which the
greatest nation in the worlds history has
been laboring for the past three years, and
labOring more to-day than in any other Pc
riod during the war.
Suppose, Sir, some vast theater, crowd
ed with thousands of human beings ab.
sorbed in dramatic spectacle; and sup
pose, Sir, in the midst Of their happy ab-
soYption, two, three or more voices should
suddenly raise the appalling cry of FIRE!
and rush towards the narrow entrances for
the street. Does it need any prophecy to
foretell the fearful disaster that would en-
sue while this frenzied multitude dashed
at the contracted outlets, and through the
crowded ooYridors3 Hundreds might be
crushed; limbs be broken; numbers suf-
focated, while Thousands might be robbed
by the brigands who had perpetrated the
calamity for the purpose Of plunder. Sir,
building is really on FIRE, only because Of
the infuriated cry of fire3 No, Sir! and,
Sir, this is precisely the case Of the people
Of this country. During the past three
years disloyal voices have kept crying fire!
against the National finances, and there
have been convulsive movements to es-
cape the fearful calamities said to threaten
the Paper system, and which is finally to
be entirely demolished. And while this
cry continues, and every imaginable aux