Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-01-29

| OF l603-Sl6U,9oI, 55O, Win goiQ averaging
l5S, showed that bondholders had paid
only S101, $50, s54, and that bonus and
interest on bonus amounted to $13, 009, 796
on the transactions for that year
The result for 1864, when gold averaged
POI, was as follows: Amount of bonds is
sued, 1881, I29, 225; amount paid for them,
S186, 969, 236; amount of bonus, $191, 594,-
GA; interest already paid on bonus, S45,-
982, 70s; interest to be paid on bonus,
$183, $50, $50. amount of bonus and in
terest on bonus, $42l, 00S, 154.
A like calculation for 1865, with the av-
erage price of gold at 143, showed an
issue of $279, 746, $50; bonus and in
terest thereon for the amount of $751;
$40, $40.
The result of 1866, ON an issue of 1924
Ola, 400, with gold at al, was a bonus
and interest thereon of S79, 907, 7S9.
The result of 1867 on an issue of SAIL
469, $50, with gold at l39, was, with bonus
and interest thrown IN, $3.50, 1853, 907.
The result for 1868, on issue of 1926,
443, 800, with gold at 1876, was bonus and
interest thereon of $247, 755, 457.
A like calculation on five per cent bonds
| 81, 895, 139, 550-showed result of
bonus and interest thereon Of 81, 216, 546,-
1874.
The whole bonus debt, he showed by
this statement, to reach the stupendous
total of 81, $50, 55s, 956. The total
amount paid to the Government for the
whole bonded debt was 81, 81, 4242, SO.
Who had ever known parallel to this
| in the history of constitutional govern |
| ments, and to sustain all this injustice |
the people were taxed as no people were
| before
The amount of Federal taxation was |
1886, 923, 402. The amount of the States |
| local taxation was $3.50, 900, 900. The total
amounting 1915, 923, 400. There was no |
| language within the scope of human tongue |
that could exaggerate the overwhelming |
| significance of these figures.
How should he characterize that policy |
which made free from all tax, or con-
tribute more than one-tenth of the prop |
| erty of the United States-praying had it /
been feeble and unworthy of the great |
theme2 1t presents sinister and shock
ing aspect to the ax-payer. 1t stood re-
vealed as a baleful monster. The sight of
it extorted a desperate cry for relief. 1t
could not, it would not be borne.
But should they, therefore, attempt to
build city ofrefuge from this distress on the
quicksands of reputation. Mighty wrongs
and a CALLING sense of extreme injustice
had driven many honest minds to embrace |
that fearful doctrine, and many more might
yet follow the same disastrous ten
dency.
The issue was in the hands of the party
in power He himself was not for repudi-
alton. He saw in 1t neither relief nor
honor. If reputation should hereafter
come TO dishonor the American name at
home and abroad, it would be because the
dominant party persistently enabled cred
itors, class of bond-holding monopolists,
to violate their part Of the contract, and to
plumber the people TO an unbearable ex-
tent
The doctrine ON which he placed himself
with an absolute faith in its legality, was
that embodied in the noble and upright |
resolution of the recent Democratic ICON
vention of Indiana, that the debt should be |
paid in strict compliance with our contract. |
The fve-twenties being payable in green
backs, the law which authorized the issue |
of National currency said il very plain and
simple words that If is a legal tender for
all debts public and private, except duties
on imports and interest on public debt. Be.
fore, ifthe people owed anything else besides |
duties on imports and interests on the |
public debt, the greenbsck currency was a
legal tender for its payment. This rose at
once, by fair statement, to full force Of
demonstration
Mr.. StOughtOn made a speech in de- | {
tense of the President and his Admins
tratiOn.
A SIuIce Of Dutch Gap opened.
Mr.. Butler, of Massachusetts, obtained
the floor for the purpose, he said, of say !
ing a few words in addition in defense of
the Republican party and Administration.
1t would survive the assault made by the
gentleman from Indiana (Mr VOrhees) |
in his beautiful periods, but it could not
stand an assault in the house of its friends
he declared that his colleague, Mr..
Dawes, yesterday had controverted no
word or figure on the calculation or esti-
mate which he CButler) had submitted to
to the country the day before, with one
exception, and that was an error of $780,
900 or $500, 900 over and above. The
error of $1,000, 900 in the estimate Of the
Postofice was made by adding the esti-
mated expenditures.
What had prevented his col
league from stating in his first speech |
the particulars of the interview which he
had had with the President. He would !
pass over what his colleague had said |
about the President, warming him (But-
ler) into life. He thought be had proba-
bly, been lively for sometime past.
(Luughter.)
He was not torpid by any means If he |
was. he wondered what his colleague would
think of him when he warmed up. Laugh
ter He thanked God he had never been |
warmed into life by any man or by any
society that could boost him higher than
he could himself
He had never had any trouble on that
score; he kept no newspaper or newspaper
reporter in his pay to trumpet his praise. |
He was not easily warmed into life, and he
was still more hard to kill. Laughter
Commenting on Mr.. Dawes slusiOn
Yesterday to the 500 army officers, he re-
minded the House that he (Butler) re-
ported in the last Congress a bill to stop
that abuse, and got it through a Commit
tee of the Whole, and that in the vote in
the House the bill had been defeated by |
the vote of his colleague, Mr. Dawes
leading the van in the opposition.
In conclusion, he asked his colleague |
whether when he sent out to the country |
the statement that the estimates for the
year were 1891, 600, 900, he did not know
that the Secretary of the Treasury, in the
official organ of the Administration, on the |
subject of estimates had reported to the |
House that only 1921, 900, 900 was needed.
Ii he knew the fact, why had he not stated |
it in justice to friendly Administration, be-
fore making every member of it, from
President down, and did he not know he
was comparing estimates with Postofice
revenue and expenses added in with appro-
priations from which revenue had been
deducted?
If he knew that, why did he not make
that correction, and if he did not know
then why did he speak at all?
Mr. Dawes said it was not in the power
of his colleague by anything he could
| further utter on the subject to in
volve him in further debate on it.
What he TDawesl had said on that sub
| iect had gone to the country. What his
| colleague had said on it had gone TO the
country. He did not desire TO add one
word or to qualify anything lie had said
He was content with the judgment Of the
country, and was prepared and ready to
| give or to work.
The committee thereupon rose.
| Mr.. Fitch from the Postoffice Commit
tee, reported a post route bill, which
passed.
Mr.. Davis introduced bill to regulate
commerce between the States in regard to
certain commercial paper. Referred.