Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1875-01-29

other way and insisted upon hard money
currency alone. How long and determin-
ed was the debate we all know, and how
the one side was jubilant over the other,
when the President vetoed the bill, and
how then Mr.. Logan reared and jumped
and threatened to split the party because
of this veto. When one remembers all
this, he cannot but be surprised at these
lions and lambs of the Senate lying down
and sleeping so peaceably together The
same state of things existed in the House.
There Ben Butler advocated initiation ad
nfnitum--declared that our paper money
was the best in the world, because the
whole wealth of the nation was pledged to
pay it (pay it in what y; that it was the
money for our people, because it would
never be taken abroad, good reason whyo
and therefore the people would always
more of the same demagoguerv, whilst
Mr. Dawes and Others were equally en-
phatic in advocating resumption of spe-
,cic payments arN opposing. imitation. Yet
~ OF these men voting tor IT to-
gether without complaint or explanation.
Nay, the President himself who vetoed the
bill passed last year, as he said, because
it was measure of imitation, now cheer
fully signs this one, and thereby makes
the whole Republican party present the
picture of happy family. Brief examina-
ton of some of the provisions of the bill
will show why this was done, and will
prove conclusively that it was mere cleo
pioneering dodge.
In the first place, it pretends to be bill
to bring about resumption of specie pay
ments, but postpones the time thereof for
four years. Last year we found Morton
and large majority in both Houses adj
vocating and passing measure of intla
tion; now they vote for, and pass meas
ure professedly favoring a return to hard
money. In this is seen plainly an attempt
to forestall the action of the Democratic
party, which was so victorious last fall.
under the banner of hardmoney. Coming
events cast their shadows before them,
and in this action of the Radical Congress
we see that they recognize the shadow
and make haste to salute the coming body.
This is done involuntarily, but it is never
theless, done. They may think and doubt
less did think by this action to reap some
of the fruits of the popular triumph last
fall, but they simply recognize its potency
and seek by juggle to divert it TO their
own schemes of imitation Whilst the bill
processes to be measure to bring about
specie payments it is in fact one to post
pone them. II it were an honest measure
to consummate this desired object at even
so remote period as four years hence, we
would not complain, because it would be
taking steps towards that object. whereas
on the contrary it is travelling rapidly
away from it. Hypocracy is the homage
which vice pays to virtue, says Rochefou
cald, and in this Janus faced caucus bill
this is most brazenly illustrated. For
whilst, under the fear of political death.
the popular wish, expressed in favor of
hard money, is recognized with hypocriti
cal subservience at the same time, meas
ure concocted in secrecy of the caucus
room and cunningly devised, is hurriedly
rushed through the forms of legislation.
1. - y
ton. 1t provides for free banking under
existing laws. That is, that more nation
al bank notes may he issued to present
banks, or Others to be created. Under the
present system national bank deposits
with the Treasury Department 800 of
United States bonds and receives therefor
800 of national bank notes. Under this
new bill, for every $50 OF legal tenders d 10
posted, the banks will receive 800 in new
national bank notes, until the amount of
greenbacks in circulation is reduced to
$500, 000,0 900. AS these latter amount to
1892, 900, this bill will necessarily au-
thorize the issue Of $l02 SOC. 900 of national
bank notes on the surrender to the Treas
ury of the $S2,000,000 of legal tenders au-
thoriZed to be withdrawn This clearly
is an imitation of the currency to the ex-
tent of 20.5O0,OOO. As there are now in
circulation 1854 100000 of national bank
notes, this addition would make our cir
culation, including the 100000 900, OF
legal tenders not to be called in, 1856, 800
900, instead of $736000,00O as it was be-
fore the passage Of this law. If this is not
initiation we do not understand the mean
ing Of the word. Thus it will be seen
that the country. having in circulation
currency of $736,000,000 of notes, which
it is unable to pay, the Radical leaders
seem to think that by the addition of 800
100000 more to this volume of broken
promises, they are taking steps to pay all.
By what process of logic they arrive at
this conclusion is inscrutable, unless it be
on the principle that ''the hair of the dog
is good for the bite or as the disciples
of Hahneman more elegantly say, that
like cures like and finding the country
suffering from imitation, these shining
lights proceed forthwith to initiate more
by way of effecting a cure. No man can
believe these men are such fools, and
therefore must believe them to be knaves.
Nor is this all. By the withdrawal of