Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1876-10-07
s5OO,OOO,OOO STOLEN.
The Stupend0us Bond Swindle Of the
Republican Party.

Vile.
The Republicans had boastipelv de.
fed Democratic speakers 10 make
proof of charges Of Corruption nqainst
any Official of their party except Rel.
knap. If recklessness, extravasapce
or corruption could not be proven
against many more, then, indeed, il
would be a bad showing for the Dem
oeratic party, which had brought these
allegations but he intended to prove
that wherever there was money, there
the harpies of the Republican party
had gathered to feast on the spoils.
Beginning with the contraction pol
4 icy recommended by Mr.. McCullouQh.
in 1860, he showed that the prophesv
Of that gentleman in regard 10 the
productive interests not suffering
thereby had proven iallacious. Col.
Crozier then touched on the question
OF finances at some length, showing
that during the war the bonds Of the
Government had been sold for liTty
cents on the dollar in greenbaoka, and
that as late as 1868 the national cur
reaey was good for its face value for
the payment Of all dues, public and
private, except interest on the national
debt aud imports, which, of course,
included the payment Of the bonds.
But the printed declaration on the
back OF every greenback note was
lie, for the bonds promised to be paid
IN currency were changed 70 be paid
in coin. This was done by Congress
si0nal enactment, aud he would like
for some Republican TO answer if that
xuac not oarrnntfne uhta .~.. s.-.I
larceny, aud was done by a Radical
Congress, and the bondholders thereby
pockeied $500,000,O00 This was a
gaudy plume 10 the cap of President
Grant, as his friends thought, but TO
him il seemed but the sombre feathers
of the hearse, for by the redemption
of the bonds in gold the hopes OF the
country were buried as deep as though
in a grave.
The gold of the country had been
sent to Europe, whereas, il the letter
Of the law had been carried out, the
bonds would have been redeemed ia
greenbacks at the rate of $fO0OO0.OOO
annually, aud that amount kept in cir
Why this was done was be-
cause Congress was subsidized by the
money power of the country, as had
been admitted by Congressman. Our
financial policy was the by-word Of
Europe, and the Republic
founded by Washington was term of
reproach. Coin was not good enough
but gold alone, and il was substitu-
Ted. thus virtually demonetizing silver.
Col. CrOzler then proceeded TO show
how the bill was passed making the
ponds payable in gold. The attempt
vas made just before tho close Of Pres
dent Johnson's administration, the
supposing that ia the
pressure of business il would be signed
Without undergoing too close scrutiny,
but he was too watchful Of the peoples
and frustrated their designs
BY what was known as the pocket veto,
md 1t failed to become u law. But
iOOn after President Grant was inau.
Schenck, Of Emma Mine in
amy, introduced the same bill, and
~ arbitrary parliamentary ruling the
previous question was moved, cut
ing off all debate in the House. and
{ was passed despite the opposition Of
he Democrats. la the Senate il was
strongly opposed, aud even Morton
fitted his voice in a half-hearted way
lgainst its passage, but he was the only
Senator who did. The
Diquitous measure was passed and
President Grant eagerly signed il.
Gentlemen on the other side say Bel
lnap was the only corrupt official, aud
yet here was the entire Republican
Congress and the President 10 boot
proven guilty Of the most gigantic
piece of corruption ever perpetrated
On the people-taking S500,000, 900 out
,f the pockets Of the people for the
benefit of the bondhOlder, by paying
lim one dollar in gold for what had
,uly cost him fifty cents in deprecia-
ed paper.