Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-05-08


t;f0agIs our mint SS74,0s {, OO0-more
money ia gold Than there ever was in paper
money in circulation at any one time, yet
now | will venture to say that there are
young men in this crowd who never saw a
$50 gold piece (Lsughter, and calls of
''That's soi") This substitution of a de-
preciated currency has been one of the
most successful contrivances ever invented
for transferring the precious metal from the
pockets of the people to strong boxes, under
lock and bolt. ~.
There is in circulation about ST00, 0O0,-
600 greenbacks, or legal tenders, and Ma
tional Bank notes. My plan for relief
would be to issue greenbacks in equal
amount to the circulation of the National
Bank notes, and take the latter all up.
Now, banker who wishes to establish
National Bank takes, say, $4,000 in bonds
Government securities six per cent inter
est in gold. He takes these bonds to the
Treasurer of the United States and the
Treasurer issues him, in the place of these
bonds, notes which are circulated as his bank
notes, ten per cent less than the amount of
his deposit. At the end Of six months the
banker gets his half yearly interest
at the rate Of six per cent, and in the mean
time has been loaning his money out in
banking operations at ten per cent, thus re-
ceiving sixteen per cent on his money.
Now, / would have legal tender notes
given for these national bank notes, and
would thereby save paying interest on a
debt Of 50, 100000. But the plan is now
to increase the national bank circulation,
tins increasing the bonds upon which the
Government pays interest. IL is 10 the in
terest Of bankers to keep gold out of the
country and convert credit, as it were,
into gold. When a set of Govern
ment creditors come up, one man
gets one kind of pay, and another gets an
other. The bonG-holder gets his in gold
but the crippled soldier gets his pittance in
a deprecated currency. would have them
all paid alike.
1t is time the people began crusade to
bring back the money that was intended
for them by the constitution Of the
country. The people are entitled
to some of the good mOney,as well
as the wealthy. Would they not take
as good care of It as those who
have il locked UP in their strong boxes?
Some would say this is@demagoguery,- but
is it anything but the Truth?
The way to get at these things is to talk
about them-to write about them, and bring
them before the public mind. Parties have
morals as well as individuals. A party
should be formed upon principle, without
inquiry as 10 name, and the party that is
discussing Improvements in the Govern
ment, the party that is considering the sci
enee and philosophy of government-that
party is bound TO succeed, because it is
based upon q noble principle.
The time has come, l say, for us TO re-
turn TO first principles, and purify the Gov
eminent, and fix upon basis for retrench-
ment, reform and economy in every depart
ment of the Government and society. But,
my cOuntrymen, l have but little 10 gain
by this. My race is nearly run. served
You in nearly all the positions in which it
was possible for man to serve you. / have
been denounced and prosecuted. and some
timestlose had served have been the first to
turn against me in the hour Of peril. There
was One who was betrayed and sold; there
was once Peter and Judas IscariOt. have
had my Peter, and my Judas Iscariot, but
the consciousness that | have done my
duty by my cOuntrymen has Ebeen nay COM
fort and reward.
trust that when | am dead and gone,
oOuAc HictoIldu may nave the AOOuueSs 10 In
scribe my name highin the Temple OfFame
among those who have lived and toiled and
suffered for their country. L have been
charged With ambition and with restless
ness. That may be true, but if / have
been, it was in the service Of nv country.
L am free to say that am ambitious, and
think | would be unworthy of myself i'll
were not. | have been ambitious to serve
the people of my adopted State with ad-
vantage to them and credit to myself. |
have been ambitious in wanting your re-
spect for having discharged my
duty. 1 am ambitious in wanting to
occupy place III your memOry-in your
hearts. would like, when | am about
passing out into eternity, for the thought to
flash through my mind that l occupy a
place in the affections, the respect and CON
hdence OF my eOuntrymen.
1t parting with you tonight (and il may
be for the last time) / leave with you my
best wishes for your future prosperity and
happiness. thank you, gentlemen, for
your kind and polite attention. Gap
ulauSp