Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1870-02-04

Plan OF Pa OBSERVATION-DISCLOSURES of the Debt.
WASHINGTON, d. c., Jan. %, 1870.
Dear Journal The Senate Committee
on Post Offices held special meeting
yesterday to consider Senator Ramsay's
postal telegraph bill. The committee favor
its adoption. The new tariff bill will be
reported on Monday. BY u vote of the
committee bituminous coal was taken
from the free list and restored to the old
duty, while anthracite coal was placed on
the free list. The Committee on Terrific
ries, in the House, have framed bill to
abolish poligamy in Utah. The President is
authorized if necessary to use the army
to enforce its provision.
Abel r. Corbin, brother-in law of Gen
eral Grant, who was one of the head
spirits in the colo ring last September,
was before the committee who are investi-
eating that transaction. His examination
was concluded yesterday. He was put
through a pretty severe cross examination
by Mr.. S. S. Cox, of New York, which
greatly riled the sanctimOniOus COrbin.-
The letter to which JAS. Fisk attaches so
as OF no importance, for all he cared it
might have been read at town meeting.
That special letter sent to Grant while at
Washington, Pa, would go very far to ex
onerate the Grant crowd from any partlci-
patton in the gold ring, and il it is not
forthcoming the world will be justified in
thinking that it dared not be shown. The
committee will not have done it's duty in
the premises if Mrs. Grant and Mrs. Cor
hi 1,,okr0 1k0 In wiz c4a A.
the proceedings before the committee are
secret, it is very difficult to get at the facts.
The only way to reach them is through the
witnesses. and Corbin is very foxey and
but little can be got out of him.
In the House yesterday the speech of
Hon. Daniel Voorhees,, of Indiana, de
serves special mention. He said: Now
that the Administration has been proven a
delinquent in its use of the public money
by the Chairman OF the appropriations,
Mr.. Dawes,) he would further demon
strate the wrongs and expressions of the
people. He spoke of the capitalist and
the tOiler, the former had numerous advo-
Gates on the floor of Congress, while the
toiler, on whose behalf he arose, had sell
dom any one to speak for him. Mr.. Voor-
hees went into an examination of the man
ner in which the debt was made. He
showed most plainly that the capitalist did
money to save the life of the Nation, but
as money shavers and usurers, watching
when our necessities were direst to exact
the best terms. Death and the sordid
greed of gaiu held high carnival together
and ministered to each others ferocious
and unsatiate lusts and appetites from the
beginning to the close of the contest. He
asserted and proved most concusively that
vast proportion of the public debt was a
Eat I INV, ,Y,1 Io11
legislation and fraud fastened on the Ia
Dor Of the nation. He spoke of the CAPT
talist making merchandise of the countrys
wose and trafficking for 100 per cent. of
profit amid the roar of cannon and O de
luge of blood. Neither the money nor the
money c.. anger came forth to the conflict
Hearts bounding with warm affections and
brains filled with visions of peaceful and
happy years sprang up from every little
spot, from away up in the dark pines of
Maine to the far off mouth of the Columbia
river, and gave all that God enabled them
to give. But above and around the graves
of heroes who died for glory and not for
gain, speculation is busy, reaping it's
double harvest from the hallowed blood
which they shed. From statements and
calculations which were presented in
figures and facts, to which Mr.. Voorhees,
challenges scrutiny, the stupendous
total which is now counted as part of our
Indebtedness when not one cent, as he
proved, ever left the pockets of the specu-
lator or found its way into the treasury of
the country. The sum total of what the
bondholders actually did loan, did advance
upon the bonds of the government from
1862 to 1868, was 81, 81 ,424, 238. Com
pare the amount which the government
did receive with the amount for which our
l. 1C co. e. 4
following result
Amount of debt which has
no consideration. ...... ST, $50, 558, 956
Amount which was paid for 1871, 424, 23S
Excess of bonus and usury
over the actual debit. $179, 134, us
Mr.. Voorhees, asked for q parallel in the
history of constitutional Governments.
The President, in the interest of wealth
and the capitalist and against the equality
and rights of labor, ranges himself on the
side of the heartless monopoly and against
the lOwly poor. In the interest of fraud
and usury he announces plan Of paying
the debt, which, if carried out, the toiling
taxpayer will be compelled to pay for that
less than 81 400, 900, 900 the almost meal
culable sum of $4,47O, 91S, $50, an amount
equal to one-fifth of the entire property OF
the United States. This scheme of plum
der proclaimed by the Executive is desti-
tute of the slightest support either in equity
or law. He stated that the interest bear
ing debt when the last administration
closed was So, O49, 975, 100. The Secretary
of the Treasury stated q few days ago that
it now was So, 100, O0O,0 600; an increase of
$50, O24, 300. This is a stubborn fact
While taxation is mountain high the debt
is actually rising higher. Mr. Voorhees,
contended that our national debt should
be paid in strict accordance with the con-
tract whether it be gold or greenbacks,
and as Thad Stevens said: to con-
tend that the fve-twenty bonds
are payable in gold was swindle and
robbery. In conclusion he made most
eloquent and pathetic appeal for q plan to
change the existing state of things. He
plead in the interest of the laborer, of the
MANNED and wounded soldier, in the name
of the widow and orphan, and in the