Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1874-12-15

on the Message, concerning the debt OF
the District OF Columbia. \ somewhat
pro,lactCd debate arose on the presenta.
,iOn OF kelly's Dill Tor he inj,fniIe Issue
OF his 9. Gj Bonds. lie. a Government
Bond, interchangeable Tor Gieenbacks at
the low interest OF 3.C5 per annum. kel
" and Butler favored the Bill. Garfield
opposed it. The time was consumed by
these members. There is no probability
OF the Bin becoming law.
Zee. l0-On Mr.. helly's bill. Mr.
Dawes spoke as follows:
As 10 its saving interest to The govern
ment. he proceeded to demonstrate. it
would increase The burden OF interest to
the government. lie also argued that
inssmuch rs per cent. 80 year bond,
payable in gold. Is now worth only par
in the market, S-65, per cent. 30.year
gold bond would be worth only 81 per
cent. and # payable IN currency would
be worth 10 per cent. less. lie chaIac.
terized Mr.. kelly's ideas As the sublimeSl
stretch OF financial Imagination aud the
Hottest flight OF political economy that
has ever been sent abroad on the air from
the House. and suggested that no holder
OF ) and per cent. gold bonds was 90.
ing 10 be fool enough 10 exchange them
tor 500 currency bends.
As To his colleagues opinion that il
took four bushels OF corn ~ transport
one bu>hel from Iowa to the Atlantic sea
board, he Dawes had referred 10 the
price current and found that corn in
Chicago cast 80 cents bushel, and the
transportation to the seaboard was only
- 10 - cents.
Mr.. Dawes, passing from this point and
touching on Buffers allusion 10 the saw
inSs OF the Massachusetts servant girls
aud the consequences ct their withdrawal
from The banks, proceeded TO argue that
ne direct and inevitable consequence OF
the substitution OF the pending bill tor
the existing slate affairs. instead of brin
Ing relief by approaching the greenback
to gold, would sink il 10 and 10 per cent
OF the purchasing power OF their days
wages and cut down their onw scauty loaf
oil bread. lie argued the greenbaok
would be worth as much as gold 10 daY ii
the government would pay it when pre-
sented, and it wonld never be worth as
much as gold ill the government did
that.
In conclusion, he said: Those who
are responsible Tor public affairs have no
time TO lose. We can put of our duty
in the premises no longer. The Hepub
icau party has lust three months ~ save
or destroy its existence. No other power
than itself can accomplish lis iuin. 1t
will pass on, of mind and memory in the
politics OF this country. il az all. by its
owR hands. I, has the power. as well
Is the privilege OF accomplishing either
OF these results. Whatever in the near
future awaits that party, let it not die for
want OF courage.
Tie committee rose without action on
the bill.
Dec. lI.-Mr. Garfield made some
personal explanation on The subject OF 40
article in the New York Tribune Of yes
terday entitled "A Half Million Steal
in which the Committee OH Approplia
tons was charged with having inserted
m item is the Peslofice appropriation
bill for ADDITIONAL subsidy TO the Pacific
Mail Co. He denied that there was any
foundation fol the charge SIS he bill had
not been seen or even considered by the
commit,e.