Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1875-08-12
MIR. Naersen 81 the Fanancs,-rx,r.c,
Ff0n HE speech An Ohl0

MIR. m0ft0a % she FInance~-Exarncs
Fren HE speech An Ohio,
At Urbana, Ohio, on Saturday. Hon. Olvar
p. Morton m.aa . s-... .,,.s.t - Ss'
,,.s e"s sfo"' III wnich No
discussed alexander II. stsphsns doctrine Of
btafsa Rights, and dwelt particularly upon the
subject OF finance. HAVING not,r.a ~ $500,
'ns noacso inc os,s,n
sno pAssags WrouSh both Hoa.ae OF Oouefeas
OF the kesumption bill. md commented hsieay
upon its nature. hc .ddr..s>d ts,...,s a. ~.
f,n.nci., n,.,. a, ~. n.-....,- ''.
-. fNsAA ." '''e DsAocrstic paatfofn OF
oAo' sna sead
The Columbus Democrats platform desnanda
immediate abolition Of the nat3onai hankino m.
tenn, and the substitution for ationa nj hanS nofs.
Of new issue Of srsenbAcks. A change 20 great
trous consequence, tlle extens Of vhich no n.n
can now foresee. II Womb re0uire In bani. n
once to withdraw from the peonle nina HUNDRED
aud fifty millions In loans now out.tandinc Which
would undoubtedly result in the oreateat tIistreS.
and the almost total suspeueiou OF 0usinoss.
The gresnbAck circulation would bs suddenly M
creased from three hunopsd aud seventh. i've mil
lions 20 seven hundred and thirty millions, and
would inevitably greatly dspreciste yslues. me
value Of greenbacks now 10 maintained BY the sb-
ity Of tho GovssnNent 10 pay them, and BY the
prospect Of such payment 1t NO remote time, and IL
conld not pay them, and tho prospect OF payment
passed entirely away, they would n once lose the
principal part OF their value II, when there are
bht 1873, 0o0. 600 In circulation and with
In three years and half Of the time fixed for re-
dcmption, they arc worth but 50 cents on the
dollar. what wonld he their value IL the amount
Was Increased to sS0O, ono O0V or ~ t)OO O(O O(D
with no hope prospect, or prstonse that they
would ever be redeemed? Let any man Of COM
mon ssnse answer. But it ia said that the legal
tender quality, tho fact that tho debtor can com.
pol the creditor to take them In rayment OF
dcbts, will preserve their value oven II they are
mover to be redeemed or paid. The simple an
swer to this In that when the volume Of green
pretense Of payment In abandoned people will
refuse to soil their property or labor upou Gro
dit, knowing that they can bo compelled to re-
ceive in payment deprecated paper novor To be
redeemed.
But we arc told that any amount Of this paper
will float, because tho faith, resour .es and credit
Of the country are pledged for t. II there be
ne way to convert the resources or credit Of the
Government to the payment Of the notes, what
does the security amount to? II all the real estate
in the Union werc mortgaged for tho payment
Of these notes-but there n no vay b forecloSn
to collect, to conyert-what doac the mort0srs
amount to Stripped Of all disQujsev and nre-
tenscs, the substitution Of creenbacks for M.
tionsl bank notes will be UNDERWOOD by tie
country ~ q declaration that those notes viii
never be redeemed.
But here unmask this whole fraud and I'M
posture. The advocates Of more areanbsck. in
tho place Of national banknotes are tho enemies
Of the greenbsckg. a thev lave ever Lcan They
are utterly opposed to : nstionsi cnrTsncv X,
every form. When tho 9recnbsck currency wss
first proposed in 1862. AMI w. inl;snens.i,a ~
tho suppression Of tie rebsiion sni ti,c nrc.ar.
walton Of tie Union, thslDemocrstc leaders oy-
erywhere denounced il q uDconstjtntjon,l ili,
everything in their power tn male Il vorthlas. '
and 10 bring it into djsbonor. This warfara
against the constitutionality NJ ureanhacIs h.s
never been reinguisled to this hour. When
Chief Justice Chase, with the majority Of the
Supreme Court, decided tLat tl,e issna n orean.
backs during the war, under 4 miiitsry neeass;tv
to preserve the life Of the nstion'
was Unconstitutional, tho decision VA
heralded everywhere by the Damocrnfic
party ~ the grandest triumph Of our const;tu-
tlonsl principles known IN our history. And
when, Afterwards during the ailmnistr.tioon Of
General Grant, the membershin Of tIst conyt
having some what changed, the court decided. Nv
q ajority OF one, that the issue Of preenkacLs
during the war, under pressure Of national milf
party, with one accord tbronphont the ITn;taS
States. declared that tho decision was corrunt.
and that the court lad bcon n.ckaa Nv pros;Sa,S,,
Grant for that purpose, And yon will II remember
having packed the Snnrcmo Co,,rt 70 $3.50, y.
decjpion SUSTAINING craanhscts =, ~
ton of the Constt9tion wss tbc mosf ners;stnnt
and clsmorons made sraiust GeoorsI Ersnt e, sm%
the Rennhlic.p n,rtv namoa...;n 1870 VI. aiI s,lu
NOT changed thar o;,i,,;o,," ,,,,n,. ~, ~ 'e
Only the other dsy. At GsIi;no,i. NJ SD,,Si.
ton anserted in the ,tro,aast to...,. ~; onio
member Of Congress- he lad onooaad tha iss,s
Of greenbacks In 1850 becsnss tbe~ we've unoor
ion and believed fiat Cnnaraas ~ l,s opa,i,
power. Mr.. Thurman M Esvsra ma ~ TE., naun
every Democrats membar ~ Az sa".ta oo 'sve
from time In time hawaii no omu oen ~, nave
to make oreenbacks = lsosi topS"r oj.
msde was Gor. ~ which the decision was
further tban Tnld;"', ~. Wy T uoo,sion went no
power to pass nnch a isv IN tina q, s hAu .he
Demncratc ie.aora row ha,a..a ~, wal. ~ uic
are uncoustitutional how can wa sni,,scntIv con'
denim the hynocrsy of tho ioman .a snr con
sue Of hundreds n m;,i;nns ~ .s% tIr now rs
national ho NJ n,tas2 ~ 20 W tsA1 tne place OF
he constitmt;nrai no oon5a oy poneso them 70
we're enough for their conJmc1 iMr;,, ~, 10 Sc
ali in ths;r nower w Inss.u5onAhty ana dld
,rha, tI'on a powo, " a,snonor mem, Al time
Of tho nstS;or 49, "s'o''"'s " preserve ths Ire
The Question "a IN v,o,hor r..,u, .
can be made a Legal tcndar T., ,a.,,r eny note
Il; n,,r.in .o ISL .c'ueI ~ payment OF dept
by The Supreme Court ~ ,hs r;. aSeou nhAily
there in NOT 4 resnectshiy n.n,on..s;. .uu
now IN the state NJ ohio Dho Az. ~. ,.sMsoI
that new law cre.tinr n"r+,ar ;.., N.Y. nomese
backs ar n snhstitnta ~ ,.t;., issue OF ereoIi-
for anv otLar nnrno.o ns o,,Ia oAk notes. or
that court nnconstttntiopsi snj ia 'o0iAiSu ny
This whole schoma ~ . rrr.I. ,Ga
backs. in Icn NJ nj nst;onai h.nt 'suS =. sToen
raigp hero today a. hvnocrt IA ~. nS'eA A.
Gus, designed in tile frst nIsco - III. I ~.
truction Of national hsnts nd ths - Sn7 nss-
volume aud then bv tha dan,.;n', ~ e ~ ~ .uon
to destroy tbe 0raeyhanls ,na,ua. y, .uo courts,
the wsy Tor tho restorst;on ~ tMa o,S ~ I've
systen, The STATE sovaraoutr uu ;,, panh
stop short of State bsnIs p"' y, t Mm hevel
rency, whether of preenh.cls n. hsnn sal-
ia hateful In tbst ,,a..,s y. DI'h notes,
the national idea and TaS;ros .Ie
ere;n, nnwo,o A' ,r, aon out enirty,seven row
ton can nover ha tnn aiiu 'enerAl assnmp-