Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-08-17

.hc1Sh tney may not ne aOIS ~ Nia'
him from his wicked work. They msy
speed the day when the recollections OF
the strife will pass into the twilight De-
tween memory and forgeltulness, "Where
rugged outline and hsrsh angle are
by mellowirg tints or obscured
bv deepening shadOWs.n In the war
which England and France In the las'
century WaQed over Canada it will he re-
me mbered that Monica m ard Wore,
OF the vaior Of the two
great belligerepts, fell ia the same en-
Q sgement upon the sanguina'y nights OF
The passing years soon as
suaCed the bitterness of strife, and there
rose from the generous contributions OF
Euglish and French in the public gar
den of Quebec stately memorial bear
ing as all inscription
"Their valor gave them a common
death, history q common fame, ana
posterity this common shalt"
No uttersnce ever fell from the lips OF
the lamented Greeley that marked more
strongly the true nobility Of his soul than
when at Memphis he EXPIRE s 'ed an earn
{ st hope for the day when the people OF
this country would be as proud CT the
martial renoWn OF Jackson and Lee rs
they would ever be of that OF Grant and
Sherman. In a like spirit OF magma
nimity spoke the distingui she'd nd elo-
quent gentleman from Pennsylvania
Mr.. Kelley the other day, who will &C.
cept my thanks for the pleasure II
sffJrds me here to reproduce bis IAN
guage.
II cav to those who wore the gray ard
to those who wore the blue, preserve
every mememto of your vslOr and your
sacrifices, and he day will come when
all the people will treasure every me
mento of American courage and sacri.
flee made in that great war. Applause J
The day will come when those trophies,
hIending together as the dyes OF yOnder
flag blend, will be cherished as the rich
est heritages of united and unbroken
American people, and will warn our
countrymen through all time OF the ter
rible cost that would attend an attempt
from any quarter to dismember the
American Union"
The speaker then notices the taunt
with which Raj ublicaDs are in the habit
of replying to Democratic appeal in be-
half of the constitution, and quotes from
the late decisions of the supreme court
OF the United States to show how that
tribunal has invoked recognition and
respect for the derided theory OF estate
rights" He congratulates the country
upon the stand which the court has
taken, and refers to and contrasts the
position of the two political parties IN
the house upon the question "Are We a
Nstion?" as illustrated by the resolu-
tions Of Mr.. Baker and Mr.. Cox. Upon
the subject of the currency and reform,
Mr.. Caldwell says:
CURRENCY.
ANY attempted review, Mr. Speaker,
of the prominent questions affecting the
present Estate of the Union," would be
incomplete and partial without some
reference to the subject that now en-
crosses more OF the public attention than
perhaps any other in the wide range OF
public affairs, and Judging from the
great diversity OF opinion that exists in
reference to if, it is of ali the most diff
cult of solutio The running, crushing
policy of money contractio adopted
and persisted in by the Republican par.
| ~. in its pretended zeal to reach gold
basis, had produced, before this congress
| met, an incalculabls amount Of distress
| in the land. The farmer in his fields
| the mechanic in his workshop, the ope-
rative in the factory, the debtor in the
| tolls OF an Understanding mortgage
had felt and suffered lis blighting effect
| It was expected that the great popular
revolution of 1874 would result in 6
| financial revolution that would miti
gate at least, il it could not entirely
! cure, the evils of the false and vicious
LoIicy to with the government has
| been committed by LnWise legislation
This implied promise has not been kept
this reasonable hope has been disap
| pointed. Up to this hour the com mite
on banking and currency have reported
no measure for the repeal Of the crud
resumption act of 1875, nor have hey
90 far az | now remember, repOrtei
snv measure that could be termed
measure OF relief to the public. 1t Wa
not supposed that anything could b
done to right the stupendous wrong pr
| pe;rated by the act of 1869, which, b.
converting the debt Of the government
from one Que in paper to one due in gold
had criminally enriched by man.
millions the holders Of government secu
rites; it was not expected that an.
| claim for restitution would be act u
and enforced against this outrage uade
the forms OF law; it was not even ex
pected that policy of opposition AM
hostility to the multitude of natloDa
banks that are now employed st an an
Iusl cost of twenty million dollars t
furnish the currency to the countr
would bs Immediately inaugua-ated il
this all; but the country had the RICH
to expect and did expect that some con
sideration would be manifested for ii
depressed industries, its unemployed en-
ereies, and its vast burden Of public an
private Indebtedness, by an effort
stay the execution of policy that ha
wrought and continued to work SO muc
of evil and distress in the land. De
string, Mr.. Speaker, to ttfer some re
marks in q more particular wsy upo
this policy which is embodied in tn
third section of the act OF January IA
1875 ask the clerk to read that section
The clerk read as follows:,
"Section 3. That section SIT of tn
revised statutes of the United States
limiting the aggregate amC u1t OF circC
laijpe notes of national banking assC
Citations, be, and is hereby, res called; an
each existing banking association ma
increase its circulating notes in ACCORD
suce with existing law without respe(
TO said aggregate limit; and new banE
ing associations may b3 organized in az
cordance with existing law without II
spec ct to said aggregate limit; and th
provisions of law for the withdrawal an
redistribution of national bank currenc
among the several States end Terrific
ries are hereby repealed. And whenevt
50 often as circulating notes shall be Ii
sued to any such banking association
increasing its capital or notes, or so new
" organized as soresaid, it shall bs Il
duty OF the secretary Of the treasury
redeem the legal. tender United Stats
notes IN excess only OF $500. OOO, 600
the amount of S0p.r cent. o. nation.
bark notes 90 issued to any such banl
ing association Of resaid, and to continr
such redsmp ion, as such circulatin
notes are is ued, until there shall be Gu
standing the sum of $500, 600, coo Of sue
IeeaI-tender United States notes, and r
. more. Ard on and after the first day
JsL uary, A. D 1879, the secretary
the treasury shall redeem in col
[ the United States legsl-tender no
, then outstanding on their pr,
sentation for redemption at the office
, the assistant-trea:urer Of the Unite
, S ates, in the city of New York, in sun
of not less than fifty dollars. And
enable the secretary of the treasury
prepare and provide for the redemptio
in this act authorized or required, he
, authorized to use any surplus revenu
. from time to time in the treasury, n,