The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1876-08-21

was zone forever. The eight hundred
millions Of debt were borrowed and
.. pended. No increase could DO ma5r
here I; and thcs. who carried on tue
government wero honeetoward bound
By the bill Of Peel to pay tho interest
Of that debt in convertible money Of
tho value Of CO It's. 10ld. to the ounce
Of gold, aud to raise al their taxes in
money Of the same value, which was
chad they known i!)a virtual bar to
any further increase in the proportion
ate issues Of paper, however desirable
the ease obtainable from such ISSUES. -
Dsubleduy's Financial History Of En-
gland, pages 25O.253.
Mr.. Speaker, ! will at the expense OF
being regarded tedious make one other
quotation from the same author:
The distress, ruin. and bankruptcy
which now took place were universal,
affecting beth the great interests Of
land and trade but among the land
lords, whose estates were burdened BY
mortgages, jointures. settlements, leg
acies, TO-, the effects were mist mar
ked and out Of tho ordinary course.
10 hundred Of cases,from the tremen.
dous reduction in the price Of land
which now took place, tho estates
barely sold for as much as would pay
Of tho mortgages, and hence the own.
ers wero stripped Of all and made beg
CARS. (lbid, page 2Tl.) ;.
I will no. racoun. che scenes OF blood
and suffering and death that followed
aud flowed from this bluuder Of TIE
English Parliament. but content myself
with warning the American Congress
against similar mistake. The people
Of this country are in no frame OF mind
to DO driven to the wall and beggared.
They will not 60 into Involuntary bank
ruptcy cor have their property i'm.
pr operly wrupg from them to pay in
coin Goverumen. bonds that should
and would withou. question have been
paid in greenba,ks except for the fraud
ulently procured acts Of Congress to
strengthen the public credit. As 10
how those bonds should DO paid l will
take future opportunity to discuss.
We are told there is plethora Of
money 10 the great monetary ceuteri
of New York, Philadelphia, and othol
sitics of this Union. And yet We sec
it stated that during the FIRST week in
Juuo Of this year over one thousand
properties were knocked down under
tho hammer at forced sale in Phildel
phis. Upon this subject | commend
10 the House the following article, To-
ken from the Wilmington Herald Of
Juno 81:
oui 1Hs TINES TIE TINES
The first Monday Of each aud every month
is The time fixed by act OF Assembly 10 sci
real estate BY tho sheriff Of Philadelphia
TIE frst Monday Of this month was the blu
est day thai city ever saw. Over ono thor
sand properties were sold by the sheriff, and
In almost every instance the property wal
bought In by the mortgage or judgment
creditor. The rich ART curIchiug iheInsei,e
BY obtaining for debt representing say 4
per cent OF the value oil d piece Of real estate
property worth more than twice The amour
OF the dsUt. THIS is laTsNing. Think o.
the sheriff hammer failing successfully iol
eight hours, and eleh ssreAe tie type OF ru
iued hopes, lhe sad ending OF u struggle To
have u shelter Tor tie declining days Oi onc'l
life. Is 1t not enough 10 uiaEe sliung mel
shudderl "Next SALE" snid the sueriti
"mill bs still larger" "Next sale viii b
dpou the Sd oil July. How many sroaus o.
sorrow will bs mixed with tie popular
CALCULATIONS OF laG Centennial eve.
The most a!art,ius statement 10
this confession Is the fact that in oil.
most every instance tho property was
bought 10 by the mortgage or judge.
mrut.crrdit0r. What good then, |
ask, results to the people from this
plethora Of money il property goes TOT
song aud the owner aud his little
ones are turned out houselrss and
homeless?
But, again, see by the papers yes.
serday morning that IN the great mon.
etary center OF the country, the city Of
New York, one thousand unemplo, cd
workmen held meeting and called al
tho Office Of the mayor OF that city,
peacably demanding work that they
might have bread. When such scenes
rs these are enacted in the very hear.
Of the two largest and Wealthiest cities
in tho country, whore the money Of
the country is locked up and her bonds
held BY hundreds Of millions, do gen.
tlemen yet insist upon inviting Us to
the resumption feast on The lss day
Of January. 1877 I commend to
this House tho following brief news.
pape. extract:
The PttSburg Post (Domocratic) says ::
"Brcad or blood. This 10 an ugly cry 10 be
heard in the land, and shows that we are
terribly mISgoyerEed.
| will not longer trespass upon the
time ofthis House. We arc abou. en-.
tering upon an erentfVl chapter in the
history Of this county. Tho time,
demand just and humane Liquidation
that all classes in all sections and Of oil
colors shall DO protected. Do this,
and this centennial year will DO q year