The Vinton record. [volume] (M'arthur, Vinton County, Ohio) 1866-1891, 1868-02-27

duNhJ uNO HulluItu anu llle0n
million dollars, and at no dis.
tant day would give us an ad-
diiion of more than one thous-
and six hundred million dol
lars, making our circulation of
greenbacks alone more than
two thousand million dollars ;
and the plan, | believe, goes
still further, and proposes to
substitute greehbacks for The
S300,000,000 Of national bank
notes now in circulation, max.
ing the whole volume more
than twenty-three hundred mil
lion dollars, which, judging
from the gold value OF The
S99O,OOO,0O0 of paper money
now in circulation, would be
worth less than twenty, posi-
bly,, less than ten cents to The
dollar, the result of which
would be not only to dishonor
and disgrace the Republic but
to ruin the bondho!ders, whom
they represent as being
"clothed in purple and fine
linen, faring suniptuoHsly. eve.
ry day. all at the expense Of
and from the toll and sweat of
the poor mans brow, thereby
traducing the rich and endeav-
oring to array the poor against
them.
Next. to the soldiers Of the
Union by'whose valor, strength
and skill the Republic was
saved | honor the men who in
the hour of their country's
need stepped forward and fur
nished the sinews Of war. We
could not Have survived with
out either the one or the other
of these classes, and | have no
doubt the Government will do
justice to both. Garry out
this mammolh oreerbacl< doc.
trine and instead Of paying ia.
therless children, pensiuned
widows and manned soldiers in
valuable funds, you will pay
them in Il Deprecated and
worthless currency, worth per
haps less than ten cents to the
dollar, eight dollars of which
per month will not buy food
and raiment suflicient,to keep
soul and body Of the pension
er together: and thus by turn
ing your manned heroes upon
the world as beggars you will
disgrace your country, s.a o
Ifthis policy is to prevail as
well might the rebellion have
been a success. Ruin the fl.
RANGES and you ruin the ma
ton; by strikingdown her cred
It you neutralize every ele7
ment of prosperity. Down
right, undisguised and un-
blushing repudiation would be
preferable. While the .Ameri-
can people, in my Judgment,
are opposed to such measures
as will tend to force the coun-
try to Il specie basis, they are
equally opposed to an undue
and prodigal issue of paper
money. a .l.' ssr .a.
PAYMENT OF THE PUBLIC DEBT.
a Mr.. Chairman, l cannot al
low myself to adopt the theo-
ry which has been so often ad-
vocated by gentlemen on this
floor and else where, to the ef-
feet that we ought not to try to
pay our national debt during
the present generation |; that
we should provide for the in
tere5t and leave the principal
for the next generation to
grapple with. These are not
my views, neither do | believe
they are the views OF the sound
thinking men of the country.
According to, the census OF
1860, the real value of the
property within the United
both personal and real,
amounted to a tritle less than
sixteen billion one hundred
and sixty million dollars. In
this sum was included the val
ne of slaves, since wiped out,
This was on a specie basis. |
am willing to be liberal, and
suppose that inview of present
fictitious values, making a due
allowance for a moderate in
crease of solid wealth, the
amount on a legal tender ba-
sis might possibly now reach
S25,O0O,000,000, and in view of
the loss to the country by war
it certainly. could not reach d
higher sum.
From the report of the Sec
retary of the Treasury it will
be found that our national in
debtedness, is, in round num-
bers, 50, ,5OO,0O0,000, and if we
add the gold premium to that
nortion of tho debit which is