The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1873-12-27

| wac. lhtl CdlCi Il 10" E"NS''H', "''N '''
farmers are cunning politicians. They slip
away like cells through the fingers of the EN-
issaries from the enemys camp
One of these mild-manncred hawks slipped
in IA lengthy paper prepared by Horace Day
of New York, advocating an indefinite paper
expansion and deprccating rs the greatest OF
conceivable ills a return to specie payment.
The reading Of this paper was succeeded
by another from Amasa Walker, of Boston
taking exactly the opposite view,-strongly
advocating the contraction and II speedy re
turn to specie payment. Both communities
tions were evidently regarded by the cOnven
ton as a great bore. \ member moved thai
they have no more Of them; they had not
come here to listen TO long and tedious cs
SAYS. The motion, however, was lost,
Mr.. Boone, plain Joe Daviess farmer,
read an essay ON the financial question, pro.
posing a plan which he said he had devised
| in the furrow, and presented TO his fellow
farmers for thoughtful consideration. His
plan was in few words, that any man own
her if with mortgage to the United States to
twothirds of its value, and receive in return
from the L. 5. Il loan of grecnbacks for the
amount at per cent. interest. The pay
mcnt of the principal never to be enforced,
except on failure to pay the interest but the
debtor allowed at any time to pay up and dis
charge his mortgage. The plan involved
many details unnecessary to repeat, the whole
amounting to dispensing with the present
national banking system and an indefinite
issue of grcenbacks.
James y. Creighton read Il paper on coop
Grafton IN buying and selling. He described
the present mode Of cooperation among man
ufacturcrs of cottOns, wOOlens, hardware,
agricultural implements, &c, in buying and
selling, and under their system the farmers
were helpless. lie advocated like combna-
ton on the part Of farmers to meet monopoly
with monopoly,
The convention heard Il telegram read an
nouncng the adoption Of the new Pcnusyl-
vania constitution by 10000 majority, and
after giving three cheers, adjourned to seven
O'Clock +. N.
In the evening Prof. J. b. Turner, OF Jack
sonvillc, read paper on the condition, cauS
es and results Of the farmers movement. The
evils that had brought the movement into lie
irg were not because the railroad men were
worse than the farmers would be under the
same circumstances. Immense debt had been
to build railroads, and much stolen
and wasted, and now the question was, who
should pay the debts. The whole of the debt
would be thrown upon the farmers and pro-
ducers unless by combining for self protec
ton they avcrted it.
The committee on organization submitted
a report, with the draft of II constitution and
bylaws for the State Association, which were
laid over for the present
Nj II. NJ IIooton delivered an address on
the "creaton and distribution of wealth"
Labor alone could produce wealth. The tar
if system, by tending to force one part of the
people TO pay more for labor or products than
another, was unjust and oppressive. The
banking system, by enabling the banker TO
draw interest on his own debt, was equally
unjust He advocated the repeal of the ma
tional banking system and the issue Of
& i 600 100000 of greenbacks; regarded all
plans for specie payment as illogical and
frivolous All the value money had was its
power to pay debts, and greenbacks could
have this power as fully as gold,
Adjourned to o'clock tomorrow