Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1869-03-30
Sprague,s Speech.

Senator Sprague Radically J, of Rhode Island,
madea speech in the Senate, against the public
credit bill. These, among other remarkable
observations, occur in it, as published in the
Congressional Globe. The Radical papers
have been silent about it:
am not in favor of a reputation of the
national debt. But, sir, do not symPathize
with that class of men who are holding up to
the gaze of the people of the United States
the sucredness of that debt. | was opposed
in YOUR caucus, Mr. President, to an amend
ment of the Constitution giving undue protec-
ton to that debt, and am also now opposed
to any reiterated protection by the law con-
templated by the bill before tho Senate. do
not think that there is much sacredness in the
issue of bonds for the Pacific railroad, which
becomes a part of your national debt; and L
see nothing that is sacred in the thousand
and one unnecessary appropriations that are
constantly made at each session OF Congress.
The great bulk of the debt of the nation
has been created in pursuance of necessary
and i'm portaut object, the maintaining OF the
territorial integrity of the United States In
Great Britain to-day the profits on almost any
one of her great industres-her commerce,
her man ufactures of iron or of coal or OF cotton
or of wool-are sufficient to pay the interest
on her national debt. But is it the part of a
people to drift into the condition Of Mexican
society when the national debt is an oppressive
burden to the,community IF those whose
business it is to make light the public burdens,
neglect, either from Ignorance or from any
other cause, to pursue policy that Will relieve
instead of policy that will destroy, II the
people of this country are to day, in conse-
quence of the public debt bearing heavily
upon them, drifting, as L verify believe, into
the condition of Spanish and Mexican society,
would any one demand that state OF slavery
rather than cancellation of the debt
Sir, you have provided for wholesale re-
pudiation of private debts by your enactments
at recent sessions Of Congress. You can cancel
debts between individuals, between the citi-
zens of the country and you look with holy
horror upon suggestion that if you pursue a
policy of destruction this incubus will be
sluoghed off You look upon it with holy
horror that any one should touch that sacred
circle
This Senate must know facts connected with
the industries of this country. l told you
two years ago that you had lost if you were
not exceedingly careful in reference to your
future legislation, your monopoly of cotton,
and nobody believed it !; nobody will believe
it now but let me tell you that you have lost
forever your sea island cotton. Go to the
South and make inquiries there. 1t is a
thing that was, and the whole South is to day
irving to find a substitute in the rlm or China
grass that will grow more prol!fcalty, whereby
they can replace that which has been lost. [
tell YOU, sir, that in five years, under the
system of finance pursued by the projectors
of this bill, that which OF itself was mOnopo,
" and has now ceased to be Il monopoly, will
cease to be profitable business to those who
are engaged in it.