The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1875-10-14

Honorable D. W VOORHEES, on the is
sue rendered by the Republican party
on the financial policy Of the government
He said in his speech at Loveland, in
reference to contraction:
'Less than two years ago, in Deem
Der, 1873, when the financial panic had
strewn the country with business wrecks
and distress, there was not public man
IN United States audacious enough to
breathe such purpose When con
gress convened at that time, the Presi-
dent himself, in his annual message,
recommended an increase in the volume
of our currency, to give relief to the bus
mess interests of the country: a meas
ure of this kind was introduced into
Congress and supported by the most
eminent leaders of the Republican par
ty. 1t was also SO completely in harmo-
ny with the position of the Dem ocratic
party that it was hailed everywhere as
a victory for the people. 1 will be re
membered by all, however, how the or
ganized power ofInoney rallied to its de
feat This government at the present
time is possessed of not more than $50 =
100000 dollars of gold, If that much Our
paper circulation may be placed at about
100000 dollars. These two q mounts
of gold and paper must be reconciled in
order to have a real and not a fictitious
specie basis.
With no more currency in this coun-
try than the coin we have or can obtain,
such scenes Of ruin, want and wretched-
ness would ensue as would cause the
civilized world to stand aghast with hor-
ror. One half the people of the United
States woull have to abandon their prop
erry to the government for nos payment
of taxes Pork would not bring one dol
lar per hundred wheat thirty cents per
bushel; corn ten cents per bushel; a
frst-oIass horse fifty dollars. The labor
er would beg on tue streets in vain for
bread, and his wife aud children would
perish at home for the want Of It. The
mines would be abandoned, vast manu-
featuring districts would lie destllte,
shipping woulI rot IN the harbors, work
shops would be silent everywhere, the
rivers would be uudsturbed by steam
boats, railroads, instead of being merely
bankrupt as now, would be abandoned
and their tracks torn up, and crime and
pilIage, provoked by want, would FL the
whole land. This is but faint picture
of an actual gold basis and an actual spe
Gle resumption.
The bank promises to pay god, and
every intelligent mind kaows it never
will The so-caIied specis-paying bank
therefore puts in circulation, supported
by public confidence, a paper money as
completely irredeemable in 81 cc;e as any
other rag money" ever known to exist
But even to reach this spurious anC
fraudulent specie basis, contraction o
our present circulation OF nearly 800,
100000 dollars is 90 take place. If We
are to have three dollars of paper in cir
culation for every one dollar of coin helt
for their redc mption, and label that I'M
position, return to specie payments
even to do that n reduction in our cur
rency Of nearly one-half its present vol
, ume has to BE- made. When that is don
, whether it comes this year OF next
D whether it comes now or in 1879, thi
! whole land viii tremble with.convulsion
, more disastrous than the throes Of a
+ earthquake. Not only will the window
e be darkened, and m0urners 90 about th
streets and the highways, but the labol
i int masses and the telling poor viii or
$ for bread in tones that viii never be 70
$ gotten when once heard
a THE BEGINNING OF tbs End,
e predicted by Mr. VOORHEES, from thu a.
tempt to resurn to specie payments
/ 1879. is already felt from the scarcity
It currency in the West and South A
n ready the tax gathere- and the credit,
re are waiting TO recsive more than the
st borer can scrape together from the resu
-e of his daily tolls, in this diminishing "a
10 money
IT. AND STILL CoNTRACTIoN GOES on,
i AID each succeeding month more of Il
national currency is retired, and we ha
h made one step more in reaching the