The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1869-03-30
sprague,s speech.

Senator Sprague (Radical), Of Rhode
Island, made speech in the Senate,
against the public credit bill. These,
among other remarkable observations,
occur in it, as published in the Con-
gressional Globe. The Radical papers
have been silent about it:
l 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 peo-
pie of the United States the sacredness
of that debt. 1 was opposed in caucus,
Mr. President, to an amendment of the
Constitution giving undue protection to
that debt, and l am also now opposed
to any reiterated protection by the law
contemplated by the bill before the Sen
ate. l do not think that there is much
sacredncss in the issue of bends for the
Pacific railroad, which becomes part
of your national debt; and / see moth
ing that is sacred in the thousand and
one unnecessary appropriations that are
constantly made at each session of Con
gress.
The great bulk of the debt of the ma
ton has been created in pursuance of
necessary and important object, the
maintaining of the territorial integrity
of the United States. In Great Britain
to-day the profits on almos. any one of
her great industries-her commerce, her
manufactures 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 people to drift into the
condition of Mexican society, when the
national debt is an oppressive burden to
the community If those whose busi-
ness it is to make light the public bur-
dens, neglect, either from ignorance or
from any other cause, to pursue pol
icy that will relieve instead of policy
that will destroy, if the people of
this country are to-day, in consequence
of the public debt bearing heavily upon
them, drifting, as 1 verify believe, into
the condition of Spanish and Mexican
society, would any one demand that
state of slavery rather than a cancella-
ton OF the debt!
Sir, you have provided for wholesale
reputation of private debts by your
enactments at recent sessions Of Con-
gress. You can cancel debts between
individuals, between the citizens of the
country and you look with holy horror
upon a suggestion that if you pursue
policy of destruction this incubus will
be sloughed of. You look upon it with
holy horror that any one should touch
that sacred circle!
This Senate must know facts connect.
ed with the industries of this country.
l told you two years ago that you had
lost, if you were not exceedingly care
full in reference to your future legisla-
tion, your monopoly of cotton, an1 no.
body 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 thing that was, and the whole
South is to-day trying to find substi.
tute in the rami or China grass that viii
grow more prolifcelly, whereby they
can replace that which has been lost. T
tell you, sir, that in five years, under the
system of finance pursued by the pro-
jectors of this bill, that which of itself
was monopoly and has now ceased to
be monopoly, will cause to be a profit
able business to those who are engaged
in it.