, 1874-03-02
CARL SCHURZ.
His Great Speech in
the Senate.
The Currency Question in all
Its Bearings.
Total Demolition of the
l1ltlationists.
Morton, Logan and Cam
eron PulveriZed.
A Speech That Everybody
Can Understand.
And Which Everybody
Should Read.
A Speech That Everybody
Can Understand.
And Which Everybody
Should Read.

| 11AoA -2-VSGANAs
| The sonate having under consideration tho
bill Is. No. 432) to amond the act entitled "An
| act to provide for tho redemption Of tho por
cont tomporary-lonn certificates, and for an
increase Of National Dank notes" approved July
| u, 1870
| h1r. scHuRz said:
MR. PRESIDENT: It will be obser7cd that from
the Btatomcnt Of tho question ae IT has come
from tho Chair that the domand madc at present
| by those who doBire an expansion of the c,irrop-
OF falls far short Of what 1t originally was.
It may fairly be assumed that, ii we adopt tho
! present proposition, it will servo merely aa IN
cntcring-wodgo to prepare tho way for groater
! exaction.
It WAS not my intention to addreas tho Senate
! ut longth on the bill bofore us until on Friday,
| whom NO took tho last votes on tho instructions
| to bo given to tho Committee. I had hoped that
from tho confused jumbo OF propositions and
neutrality-suspicious. with which this bill had
been incumbored nothing would isauo TINT might
bo seriously detrimental to tho bess interests Of
the country. Tint hapo has boon turned into
something like apprehension, md l foel
1t my duty nov to submit some observations to
the Sonnte.
The Semitic las becn during these weolia Of de-
bato presenting
! MOST EXTRAORDINARY spECTACLE.
In tho second half Of tho ninotocntl century,
| with tho uniform experience Of ages before ua,
IN period Of profound peace, with no public
| dangers pressing upon ua tho necessity Of OK
| ceptional measures, with ample resources to de-
ftay the expenses Of tho Government and to do
ye1op the resources Of tho country, tho highest
kfyo Epfx of ~, 10
OF calling itsolf tho moat progressive stato Of
tho world, is seriously dobating tho question
whether new issues Of irrcdeomablo paper money
| shall not DO ,oBorted to iu order to promote the
prosperity OF tho nation; and euell au almost ill.,
credible proposition is supported by argumouta
which will mako tho civilized world stare ii they
over become widely known beyond those pro-
| cincts.
1t hoa actually been asserted In this body that
t THE PRECIOUS METALS
can no longer remain tho standard Of valuo In
any country. Why7 Because tho aggregate
quantity and value Of the precious metals in OK
iHtonce do not oquol in value tho aggrogato
amount Of all the products Of industry and ag-
riculturo; an idea just as original and as 1umin-
ous Us 1t would he to Bay that yard-stiok cannot
remain q standard measure Of length because a
yard-stick is not Is long as roll Of cloth or Of
carpet whoBo longth is to bo aacertainod, Or be-
cause atl the existing yard-stioks In the world
put together would not have the aame lcngth NJ
all the objects whose longth ia to ba measured.
We have boon gravely told that conclusive
PROOF OF the insutllctoncy Of the amount Of cur-
rcncy in this country Ia furnished by tho fact
that
ENGLAND AND FRANCE
have larger volume OF currency than nc have
and that there arc many people in tho country
who cannot got all tho loans and al tho discounts
which thav dosiro. wc l,ovo honrd II aasorta a1
| nt - -. ,,, 80,
.nas An 4i4eauoulao'o cat.ohoy must oo gooa
thl1e alIer Ill, becnuHo tlcfe afo throo countries
in Europe
Ausrn1A. nusa1. Ann ITALY
w,,opo eco,o,nic dovolo,,n,o,,t h,. 1,oo,, oo,,n
.,... -. 4A' ~. '9''1
"nt.' 1ap1o OF 4ate, while those COUNTRIES have
MI lrrcaeomable paper currency. Nobody who
knows anything about those countries can be IT,
uorant of the fact that tho suddnn doyo1onmout
srs-.ss ~ W. 1aoS 'aa' 'n' euaaon eo'o1opinont
te'efaeo 70 nas oeen brought about by great and
bonohcent changes III their political aud social
organization, setting free and putting to work
all the productive forces Of soentv mud that tho
1oad,nr stotcamen NJ ,1osa co,n r;au oro Inv ord
4Ia6 s,asoes ~ ,noeo soun'1t'a ".o u"S auo
night racHln6 taelr bfains TO nnd moana by
which to get rid OF tint curse Of an trredoon-
able paper money which IL hero reprotonted as
t1,a vor, oorrco ~ nroanor,tv a,a ,,,,,,a az,
to tho Heuator from Indiana (A1r. Mortou),
u,,, ,avnr nrooa tbot r,,orou;t,c, 1,oro +,,t - H.,
W. ,-1s s,a Aeio' sA1s =! - .o
irrodeemable currcucy aa m element Of prorresa.
N,, -, ~, ,., ,e0'
thoY "oala feco'Se Tue asso't'oh "lth mela1l-
"' ~ ~