Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1876-09-06
EXTRA YAoANCE AND CORRUPTION or
THE ADMINISTRATION.

THE ADMINISTRATION
SPEECH Or
HON. FRANKLIN HEREFORD,
or WEST v'IRGINI.f,
IN THE HOUSE OF REPRESENTATIVES,, on
SATURDAY, AUGUST ~, 1876.
Mr.. Hereford. Mr. Speaker, during
the year 1868 tho number of failures
in the United States was 2,608 in the
year 1869, 2,790; 1870, 1851; 1871
2,915; 1872, 4,O60; 1873, 5,lS3 1874
$3.50; 1875, 7,74O; and during the
first three months Of 1876 IL was 2, 500
or at the rate of II, ,224 per annum.
And to-day we find the following IN
tho Boston Post.
Tho list Of mills stopped In New England 4
reported In the Boston Advertiser at over one mil
lion spindles, and the additions In New Jerse,
aud Pennsylvania, with more TO DO heard frsu
In Rhode Island and Connecticut, at 200, 900, OF
I2i per cent. Of tho usual production. Tho spin
dies stopped are one half on cloths, and rep
resent q production Of 81, 900 pieces q week. Com
pared with tho returns for previous years, th,
present production Is less than would have been
sufficient for any season since 1874
And also the following
EFFECTS or DULL TINES.
To-day all the mills Of Fall River cut down IL
per cent. In the wages Of operatives. Much dis
satisfaction Is felt by the hands. and although
but comparatively little Is said II Is easy TO soc
that the feeling Is intense among the operatives
Ma nufacturers say this cut down Is their only al.
Tentative they must either do II or close up
The Sprague mills In Cranston and other parts Of
Rhode Island are either closed or running with
small help. At Baltic the mills shut down Sat-
urday night, and one thousand operatives were
thrown out Of employment. II is expected that
there will bo another suspension of A. a W.
| Sprague A Co., (now In the hands OF Zschariah
Chaiee, trustee, on account Of doiault Of interest
on extension notes for July.
SO that in the short space of nine
years, II the failures continue for the
balance of this year at the rate Of the
first three months, we will have 45, ,871,
which is unprecedented in tho history
of our country. During all this time,
under the policy of the Republican
party, the volume of currency has been
steadily diminishing.
Notwithstanding this alarming state
of affairs, penury and starvation at the
doors of our constituents, urged on by
the money power. this same party in
1875 passed what is known as the re-
sumption act, which has increased the
contraction forcing National Banks TO
surrender their charters, TO 90 out of
existence, and these banks thereby
forced 10 draw in their loans from The
people. This most oppressive law. the
resumption act, was forced through the
House OF Representatives under the
suspension of the rules thereby depriy.
ing the Democratic members from all
right of amendment or the right of
speech, the right to expose IL, eiiormi.
ties and prostrating and direful effects
upon the people. A few days since,
after great struggle in favor of an
oppressed people, Democratic House
passed a bin repeating it, but # sleeps
In Republican Senate and there Il
will continue 10 sleep until an outrar.
ed people rise in the might and maies-
ty OF their power and compel that
body to listen to the demands of the
people for rslief This resumption act
forces or attempts to force resumption
of specie payments in 1879.
Where is the coin to como from
Business men of every kind, farmers,
laborers, debtors, where will you get
the gold2
say qold for the. reason that this
same party in February. 1873, demon.
etized silver.
BY the terms Of the Constitution
and from the foundation of our present
form of Government gold and silver
both have been a legal tender in pay.
ment of all debts. At the time of the
creation Of our present national debt
great part of which is held in Eu.
rope, it could be paid either in gold
silver, or greenbacks; that is, the prin.
cipal. On the back of every green
back was and is still printed these
words
This note /. legal tender at it. faco valu, for
all debts, public or private, except duties on i'm
ports and interest on tho public debt
but alta subsequent period this same
party passed a law by which the prin-
cipai must DC PAID in COIN The labor
er the clerk IN the departments, the
gnllinr ,Vhn lIalya hIQ ltta for h1a