Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-08-09

l0Fmefly dlO l0f Wsf. OtE HaL2oI1ai o15ttiee
is politician on the State, blood sucker in
the Treasury aud Office on the brain.
Laughter. A national debts national
tax It never was, it never will be paid.
Kisses. You seem to forget that am
En4king, at your request, the speech Of a
demagogue-or in other Language putting
up man Of straw for the loyal men to
/ knock down. Laughter You forget
that i am agin repadiation," as Lowell
would say, | am for greenbacks-twenty-
Eve hundred millions of greenbacks, one
/ currency instead of sixteen, and one date
/ Of maturity instead of nineteen different
dates vide McCHllocb, and one kind Of in
terest that is no interest at alI-instead of
a dozen different rates as at present. Ap-
planse. McCallochls whole policy ia in
the Interest of Europe, of England, of the
bondholders. He has tried TO break Wah
saFsst dozen times, and nearly broke
himself Three months more and She
crash would have wiped out the debt.
Like ballast in ship you must keep the
national debt steady to avoid shipwreck
A pilot caR run thousand passengers into
eternity. So McCulloch, by specie pay
ment, can steer-our financial craft into the
breakers. McCulloch believes in the Ian
Get, the speculem, and blue pill kind of
finance. He bleeds to restore strength.
He purges to add stability. He vaccin-
mates to head of'disease. Langhter.
What wretched state We must be in to
| have the whole question of our financial
future depend upon two things-the state
of McCulloch's stomach [applause and
good crop. Applause. Once our peos
pie had self reliance. Now the converse.
tion is on the Secretary of the Treasury.
He is selling gold. Up goes the price. He
is contracting. Down go stocks. He is
negotiating loan abroad. He wants one
hundred millions at home. He is bearing
the market No, he is a bull to-day in
| Wall street. One man says Jay Cooke is
| his partner, that Lanier does his foreign
business, that Meyer, his brother.inolaw
manages his gold Another, he is check
ing out deposits or is locking up green
backs. This is Wall street gossip. Never
before did man WELD such power-l600
national banks, and when they fail Mr..
| Spinner says he will cash the bills.
| Laughter.
We could watch old Biddle and one ma
tional bank; but sixteen hundred is too
much for us. Laughter. I gave sta
tistics in my gold-room speech showing
that it was fair to presume that most of our
national banks were rotten, [oh and were
only organized for Presidential purposes.
Why, as the Herald says, should we be
taxed twenty millions year for this pur-
pose? (Applause. Down, then, With the
national banks, and give US greenbaeks.
Everybody will vote for greenbacks.
Every man who owns a farm-a house-a
ship-wants high prices. Two-thirds of
all our property is mortgaged. Let us lift
it of with greenbacks Buy property, and
mortgage it up to your throat. Then buy
more, and repeat again, and the greenback-
mania will remove the mortgage and make
you rich again. Applause.
Remember that industry, commerce, ag-
riculture, manufacture, create property,
and these can only come with greenbacks.
Remember that no ships on the stocks,
produce no ship-buiIders. No factories GO
ing up require no laborers, What we in
the pit ask for is high wages, plenty of
work and greenbacks. [Applause.
We want one currency without interest.
Now who can tell what is our debt-how
calculate how many kinds of notes and
times of payment Like the Goblin tape
estry of Paris--like the Mosaic work of
Rome--the MKT of legends, or the veins
in the human body, our debt is so confused,
so ehtangled, 80 obscure that, unlike these
analogies, il has only been created to be
destroyed. Applause and dissent
There can be no financial security or COM
mercial intercourse without proper recon-
strueion, and that day is not close at
hand.
England is owned by 10000 families.
The national debt did it. Now, as we must
be taxed $l0,0O0,000,0O0 to pay off our
national debt, why not throw it all into
the pool, and show our loyalty by paying it
all OF at once? As Mellis, of the World,
says, our policy is to make the rich richer
and the poor poorer. Our bondholders will
be princes. The money-lenders will be di-
Vided into nabobs and nabobs. Laugh
ter.
As the debt was made, SO let it be paid
an eye for an eye, tooth for a tooth.
England, Europe, paid $200,O00,OOO for
$500, 100000 of bonds. What a shave!
The Alabama destroyed about that amount
of American shipping. Why not balance
the books and pay them off in greenbacks
without interest? Applause. Every
for placing greenbacks in the place of
these $340, 100000 National Bank bonds.
$20,000,000 saved is $20000,0 900 gained.
[Applause.]
Insolvency is general. When | saw the
gold brokers buying and selling $70,00G,>
600 day, asked what 1t was for ? What
do they do with it? | found only two out
lets-one TO pay interest on the 5-20s, the
other 10 export-both amounts only $780,
600 a day, or 100000 week l then
came to the conclusion that somebody was
behind this action-thst the foreign ex-
change-bankers, the importers, and the
English manufacturers, were all combined
to hold up war prices in time of peace.
Hence they sold gold short in order to
hedge against high-priced imports. APP
plause.
If gold goes up they save loss by rise in
goods. If gold goes down they make on
| gold what they would lose on goods. But
| this holding three balls in the air is IA
| tiguing. Did you ever see the Ravels roll
their big ball up an inclined plane? He
STOPPED to take breath, and the wheel went
over him, crushing him as fat as pan
cake. Laughter. So with insolyent
merchants holding up goods, CT insolvent
| banks holding up bogus stocks. 1hey had
hard work rolling that big wheel up hill,
until McCalloch came to their assistance
and backed down from his specie-p paying
| policy Of contraction, [Applause.l Pub
lie credit can only be based on industrial
prosperity. A war, a pestilence, famine,
always places tax payers and bond
holders fsoe to face. : Universal suffrage is
our great hobby, An American Astor has
/ but one vote. An American sweep is
equally great Hence, some day the pit
may vote ont the dress circle, Should the
| Democrats get into power with their pesti-
lential doctrine Of free trade, and McCul-
iooh favors that policy, overheard goes ali
| eur industrial enterprises. EApplause.
The New England Radical manufac-
turers in order to destroy our Western en-
4 terprises are now joining the Democrats to
break down the tariff But give us green
backs without interest and we beat them
all. Applause
McCglloch viii never forget that leader
in the Tines calling him the american
/ Necker of Finance. How can he get an
other? Simply BY having the 5000, ,OOO,-
| 600 bonds abroad at par-by specie pay
ments Now we have TO export $50, 100000
year in hard gold to pay the interest