Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1866-06-22
Mr.. Morrill, a Hero.

the United States Senate, uses the
following language:
awe were beaten" said distinguished rebel,
'not by superior bravery, or skill in arms, but by
fnanciering." If that be true, Mr.. Morrill, is a
hero.
How hero, Mr.. Walton? Was
the exchequer Of the Republic under
the control or direction of Mr.. Nor
rill, during the rebellion? Was he
the author of that financial system
which carried the country successfully
through the struggle, and to which the
distinguished rebel" attributed their
defeat? How was it, Mr.. Walton,-l
you were at that time in Congress, and
can tell us-did Justin S. Morrill, sup
port the Legal Tender Act? Did he
vote for it? Were his views, upon
this finance question, in harmony with
the views of Secretary Chase, that
really able financier, and truly great
man? OF course your answer to all
these questions must be no. Another
question. Did Mr.. Morrill, favor the
Currency Act, so called, providing for
the national banking system? Again
your answer must be no.
1t is well known, that Mr.. Morrill,,
during the entire war stood in opposi-
ton to that system Of "fnanciering,"
by which the distinguished rebel"
said they "were beaten" At least he
stood in opposition to that feature Of
it, which increased the volume of the
circulating medium; thereby fur
nishins the necessary amount Of mon
ey for the ordinary business Of the
country, and at the same time, sufi-
cheney for the immensely expensive
operations of war.
Mr.. Chase, then Secretary of the
Treasury said, that in order to carry
On the war, he must have the Legal
Tender Act. Mr.. Morrill,, with some
others, said such legislation would
work financial ruin; and hence OPP
posed it. The act became law how
ever,as all well know and the Treasury
was provided with funds sufficient to
carry on the war. Instead Gifts work
ing financial ruin, it proved to be just
the thing we needed; without which,
we could have no more put down the
rebellion, than without gunpowder.
Noone willnow pretend, we don't think
Mr.. Morrill, will himself, that, that act
has proven unwise either in its pur-
poses or provisions. All will agree,
that the war could not have been prose-
cuted without it. The necessity for
it was a plain one, and very easily I'M
stoned an increase Of the actual necessi-
ties formoney, equal in extent, to the
amount required to carry on its opera
tions which at a glance will be seen was
immense. Before the war, the specie
of the country furnished a capital base
sufficient for the purposes of ordinary
business. But the moment we ha(
armies to raise, organize, clothe, fec
and pay, there was an actual necess1
ty for more money. There W a
enough for business, but not enough 70
that, and the war. Hence the dilem
ma presented these three alternatives
viz: an abandonment, or neglect {
the necessary business of the country
an abandonment of the war, or NOR
money. In other words an increas
Of the circulating medium.
The patriotic and wise Statesman
said at once, we must not allow tn
necessary business Of the country t
suffer, neither can we consent t
abandon the war; we must have NOR
money. We cannot dig gold and 81
yer from the earth, in day, a montl
or year, sufficient for the emergency
and as the best we can do, we mus
pass the Legal Tender Act. But sal
Mr.. Morrill,, and other "heroes" of hi
stamp, it will result in the ruin of on
currency. In reply, the friends {
Legal Tender said in substance, be
ter have o country, with a ruined Gu
rency, than currency, with RUNE
country. They of course saw, that j
ordinary times, it would not be SCUM
fnanciering, to make anything but gol
and silver illegal tender. They CLAIM
ed however that the occasion wa
extraordinary. They saw that the
must either pass the act, or abando
the war; for it was plain that the PEI
pie could not be persuaded to give u
altogether, their business, and dedicat
their entire substance to war. 1t We
also equally plain, that if they were
do so, it would ruin the business
the country, which was of quite
much Importance as the currency.
Mr.. Morrill,, we suppose, saw not
ing unusual in the situation, and vote
against the bill, making greenbacks
legal tender, and herein he was
"hero," according to Mr.. Walton.
His opposition to this act, was
course made in good faith, and we
not allude to it here, for the purpo
of impugning his motives; but simp