The home journal. (Winchester, Tenn.) 1858-188?, 1876-07-13
limltable territory to distribute among


limitable territory to distribute among|
forty five millions Of people; to fur.
nish money for tho aplahlc part Of
$40, 600, 900, 900 Of property; to pay
national, State, county, city, corpora
ton and individual indebtedness
amounting to $40 100000, 900; to pay
tor the marketable part of 100000
100000 OF annual productions; to pay
annual taxation, United States, State,
county and town, $Gll, 200, 900; to pay
annual interest on the public and pri.
vato debt, S500,000,0 900; to pay for
the annual construction and operation
Of railroads, Sl,000,000 900; to pay
for annual imports into the United
States, SG42,0OO 900; to pay for the
support OF schools, colleges, churches,
book concerns, newspapers; for build
ing houses and towns, founding new
States, and to pay for the personal x
penses Of the millions who move every
day upon the railroads and public
thoroughfares, $500, 1000, 900 more,
Our trade keeps apace with our ur-
rency, and Mr., Hamilton said, "The
ability of a country to pay taxes must
always be proportionate in q great de-
gree, to the quantity of money IL cir
culation and the celebrity with which it
circulatcs."
The South is PROSTATE through the
laundering of legislation, when it
ought to be rising out Of the depths
into which its war plunged it. The
State OF Tennessee will witness ten
thousand homes sold by the sheriff in
the coming year If Legislation does not
save them. Our crops are but half
they should he if we had circulation to
start and support our industries.
In speaking of specie resumption the
Hon. gentleman proved that we had
an annual money balance of STAT,
600 1000 against us, and that it is in
creasing every day.
Where will you get the gold az q
basis for your financial system? You
have been trying it for ten years. In
1870 gold premium was 10 per cent,
now il is IA per cent. by what arith-
mctic do you calculate US back to the
golden shore where you hope 30 land
Secretary Boutwell, and Secretary
} Richardson pursued the golden phan-
tom. Secretary Bristow and Presi
dent Grant are bent on reaching it by
the lst of January, 1879. Still, will
all your efforts, you have not incrcascC
a single gold dollar within the last ff
teen years. Now you add the gold
resumption act Of 1875, providing fol
resumption in 1879; and what is thu
result? You find the national bank.
and the national industries clawing OF
from the resumption as the marine
claws Off from the lee shore when h,
knows that shipwrecks and dangers Ii,
there, Still they sing the siren song
of contraction ard would endcavor t.
hide their sophistries under their daz-
cling rhetoric.
BnL it is of no avail. The American
people are not to be deceived in this
matter, You cannot argue a man in
want into the belief that he has at
abundance. How does q mau know
that hc wants bread when he is starv
ing? How does a nan know that he
wants clothing when he Is naked
How does n mar know that he wants
money when he is in perjury? 1t is by
experience, One fact is worth a whole
ship.load of sophistical arguments"
SO far as specie resumption is con-
ccrnod, the whole efforts Of the Gov.
f ornment have been to take us further
from it,, LIST, by funding its debt anC
making the interest payable in com
I'd. BY making the principal payable il
coin. Sd. By demonetizing silver
4th. By expelling gold from the cour'
try to pay interest on foreign debt thai
should have been held by our own
people.
The decentralization of silver was
through stolen Legislation. and the
President. by expressions a year after
he had signed the bill, showed that he
did not know of the fact. Calhoun,
Benton and Fessonden are quoted to
show Tue advantages of Treasury notes
as money.
The speech closes with an eloquent
appeal to the House and the country to
repeal the resumption act, employ
gold, silver and Treasury notes in all
transactions, and they will stand side
by side as they have ever done when
legally equal then you will send your
commerce over all the seas and reach
n specie basis without injury to any
one of the neOnln.