The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-25

greater than IN tn,- country and The exports 81 snS
'ssas: s. Ss ssa me ssss.
e:' asfs sss fssisE aaa na
aaG AfsS WI Il. fact issrss sS4. sSs
sss e sAaFs aS rf rs ss
IN Vfi tie 1a'es S
5ssR' ssaaa.e NJ ''H III.
s S'G SssH Of ] AMOUNT by ds
Les Than million had gone south and West
phia lie argued there an abundance ali over the
SqoR a oSed oy 1rgs and By s css
bling TINS releasing large amounts OF money formerly
mate 1 this
was being but t was being
rlea On " different class Of persons would be re
asemabie paper currency. in legitimate business
s 81 r but ns1e was
suppose thai real scarcity Of money at the bottom
stimulated speculation and sa@bng The Gentleman
from North s Carolina lMr Merrimon had complained
tersst high a, Of which was true, and he lschurz,
BIS wh to ne 2 that rhs
s:a % wanted ssaX
be issued woa rvss ,snSsS
%sasy y would va put spoS sountTyHons y
other by purchasing bonds of the nuied st tes In
course, and the consequence would be, the additional
Sorsn would be os into n very
BY pue % ss She o sr
products to the market where the additional currency
@ S w n y S &c to a
offered ior IT. An increase OF rredeenabe paper cur
ton 81 LEGITIMATE business, would Increase
The nromm or THE ao, M1sGs ., o. BUSINESS u,a
crease and Il would reau greater of money
90 pspss
Il could not be forced channels legitimate business
s 4: en efy Ss sgns toy
channels as old ones had An inflated, irredeemaDle
s0s
%sS an sa sp0ah so Ss Ss:' ne
hsRey he as as Sssps
%der which net bor s
Senator r Merrnon had said his people needed more
the hsy Led
s Of ou hs psa cone s os
S had BEEN and shas tae p" 81 the s Ss
s sna the 81 there
create rer wealth by industry and produc would
Imitation sts f W. would stu @ epress me ageanra ner
che! source Of wealth to those sections that
circulation but the establishment Of additional national
hs e 9%s ana wes you'd not the evil
,vou,d y, oaG e. s.r. or NEW NATIONAL sANxs
loaned by them and returned the bank every thirty
Psrson nd day. ha was n
de oS IT, 9e tho es
S ' "sa q" y sss n' s
sSs sGss a5a Ts,,
New England had the esea AND f0r hav ana
The bends there already send nS@
any s s
ss SorR s"a mould ssM as
'as aHyn u sna West an Banking e Ssnf
a i;ss Tth %n,ts1
Consists of national bank notes or Seenbacks esGep
Would dr. aS up the the price Of commod ties and
want to be understood opposed to banking
BE- VOTE With 'Gs sSe
OF rsdsmption He argued that any imitation Of the
e S am ed
ss
am asked the advice OF him Mr schurz as to
h w1sa fro from eight ten per cent
scharz would inquire Of the spator from Indiana Mr
, Mr. MORTON, fep9 OF 1nd said he would reply to the
Mr. scHyRz said, American cit izen. he believed
to be his first duty to be honest and he could not ADVISE
sate value let LOOK specie resumption and
he would say 10 his friends send money; get
your neghbors to do it heap it up mountain high and
soarz woaa depecsse the Of coanry
such an answer Real estate was increasing in value
MI: selvRz-.Yes but an increase in value Of real
ssery child '' ppauss in The Galleries. Oh
e WSa nas te sn Of
AakR.cAS CREDIT r.. APs sSI pEsnxcIATxD
credit an
in this system OF rredeemabe paper currency
& Be
t. asone ass
In europe did not rise as european securities had done
to b Ia the and he whseo hs
spoke, as he had heard it a hundred times while in
MI GaarsoE SAID the Senator misrqsts the people Of
the United States but he Mr Cameron believed them 10
Mr. said that when the Senator from Pennsy,-
credit Of the American people he said something which
Mr. snrsaAs Gep OF Ohio said on account of the un-
certain value Of our paper money nineenths OF all loans
~, IYTLArloN euAck EkNEDY
the ioanable Of capital large The rate Of in.
Mould Be low and wsTY IL s snDts
remedies proposed for evils bv those who favored in
MR. anS Sas Is
Hamilton and other political economists were thrown
d
a ss @ q h sssm
ostS nut IL was me poor man, VINO from hand 10
mouth on his daily earnings, who would be injured and
to initiate the currency Of the country would be to rob
The poor Of portion Of their nard earned property He
denied that the American people wanted imitation They
might be led away for the time but would soon recover
the Senate in favor Of their schemes tor imitation
If any public man expected to ride into the White House
bubble wonid burst before 1879 In conclusion he said he
had spoken longer than he expected, anu hoped his
marks would mot be without influence upon the vote
about to be taken. He would reserve his views
other points until more mature bill should be reported
MORTON's REPLY
Mr. MoRroN said ut the close Of long debate the sena
tor had come forward with carefully prepared written
speech or course be could not reply to now point by
terized an exaggeraon He Mr Morton) denied that
apply to our country The cheapest Of all political
known Of men as ignorant as morse who would get
themselves, and then so upon the STUMP and
OF the old countries of Europe suited to
we are rapidly growing and developing The Senator
Mr Schurz) did not comprehend the c0uDtry In
which he lives, but was what they called In France
political H.Srdfew. The Senator was mistaken IN sup
posing that had read and studied those books
as well as himself Free trade, small volume OF cur
rency low wages and direct taxation went hand In hand
together He did not understand what the SEN
had sent to his friend In Europe in regard 70 the
advice sought to investing $00O0 $t00O here.
Mr.. said he had answered vet but would