The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-08-09
CURRENCYREFoRM.
The Resumption Act a Blight
Able Discussion Of the Sub
ject.
Speech of Colonel Wilson.
Delivered in the House of
Congress, Friday, Aug. 4.

Mr.. Wilson, of West Nirginis-Mr.
CHAIRMAN. do not propose 10 discuss the
,wo irritating questions that nave occ"-
- 81 80 much OF the time at tins House
t,r the last two days. There are Other
ouestions of greater magnitude that we
I,oud look to and pass upon In the lew
remaining days of this session.
fl i, n bootless question Mt this Tune As
:, what the Judiciary Committee has
L,n.or NAV do with Mr.. Blaine. The
,,,I,m.nt of this House in his case has
i,.u suspended until next session, ana L
i, no, now propose to waste time with
,.,sideralion oI it. And it Is also now n
h.ilpss question rs To the terms and con-
.,ti,ns upon which the war was ended or
=, 70 how The people of the South suffered
mon the close of that war. symPathE
Il with them Ms deeply and felt for them
IS keenly and deplored rs much rs any
Gentleman on this floor the harsh manner
N which they were prosecuted by the
Administration and the party in power
Bgt ali that is of the past, and l think II
mos, wise to let those irritating questions
mass into history and no longer seek TO
,pasme the passions OF the people and to
srrsy one section against another. Let
20 hear no more OF war or rumors OF war;
l.l us turn our attention and direct our
,tsps 10 the paths of peace. We all ac-
cept the situation, ana it is our duty Ms
pa,rin,s 10 utilize that situation for the
ieneiit of the people, the whole people, IN
all parts of the country.
In the few remarks shall make pro-
pose To- discuss another and different ques-
rion one that sbsorbs us much Of the at
l.p,ion, il no, more, than any other ques
,ior with which Congress has had to deal;
il IS the reconciliation of SILVER.
As the bill offered by the gentleman
from Missouri Mr.. Blandl presents that
question more fairly than any one now
rsading before the House, l will ask the
clerk TO report the title of the bill and
Also its fourth section.
The Clerk read ms follows:
A bill III. K. No. $50 to utilize the pro-
duet OF gold and liver mines, ana LOT
other purpose.
SO l.. Thai the coin notes issued u nder
rurpioyI, ions ui this act shall be recelVa-
able without limit tor all dues To the Uni
ted States: aud the coin mentioned IN thls
at shall he a legal Under for all debts oil
The United states. public and private, mol
specified L. be- paid IN goid com.
Mr. Wilson, ot West Virginia. In
silitlon to this bill | wish 10 say that
upon the first Opportunity, | have will
uti"r the following resolutions:
E.,oirrL Tha' The Committee on Bank
,ug and Currency he. and they are hereby,
directed Ia Irp"ri IA hill To This House pro-
SdIug Ton the coinage al tue United S,ates
as II existed prinr'Io the 18th day OF FED
luHry lS1i, the >iin" To he ieSai lehuer
Tor Nil debts a. II WAS under the laws ex-
sitting prior Ia hat date.
II this Congress shall perslstently and
mp 'ole II refuse to repeal the specie re-
sumption clause oil the act OF 1878 there
will remain renewed necessity To 70
turn t. double metallic standard, u
necessity such Ms the present generations
never knew and, may add, no past gen
Grafton ever experienced. This necessity
is keenly seen and felt and feared by the
people, The fact is apparent that the
great body of the people ITS repeal; their
future prosperity demands and depends
upon it. We have recently witnessed
the sessions of two national conventions,
one al Cincinnati and the other At Saint
Louis At Cincinnati the delegates did
not meet the question fairly and deal with
II frankly. tarthstsnding largepre
ponderance OF the republican members
On this floor and in the Senate and the
candidates of that party sre IN favor OF
enforcing that act, and thus driving the
debtor c ass t. the wall. their delegates
Al Cincinnati did not dare To- insert
plank IN their platform opposing its re-
peal, while vt Saint Louis, one of the
largest conventions that ever assembled
on this continent, composed of delegates
from MI sections of the country and fresh
from thel cop Q, representing their views,
as repeal WAS demanded in unequivocal
terms. IL remains 10 he seen whether
democratic Representatives. in Congress
viii repudlatc the instructions from the
p""ple aS expressed through their dele
gates IN that convention. IL that act Is
not /" he repealed there will continue To
remain, | repeat il, y necessity sach As
The Anglo-SsXon race never witnessed
before for y return TO double metallic
standard.
The debt OF the United States is sbout
2lO0U00, 600, and it was stated by the
gentleman from Ohio MIR. Garfield n
lew days ago that private citizens OF the
United State owe probably 81. 500, 100000
more. Now, sir, take it that the figures
have just quoted are substantially COR
rect and contemplate for one moment the
situation. II will be seen that the rels-
Ton OF debtor and creditor in the United
States involves about 5000, OOO, 600.
With that vast debt hanging over the
heads of the American people, mort.
gage on their property and inv olving the
noner OF the country, II is grsvely pro-
posed ~ resume specie payment on the
let day of January, 1879, and that all this
vast debt from and after that date shall
la paid in coin; not in the coin that the
'sthers and founders oil the Republic
msde legal tender, but in gold coin alone.
Why, sir, do the gentlemen remember
mat II this resumption act goes INTO oper-
MIon the 1868, 0OO, 600 in legal-tender cur.
'eney is TO lie paid II with gold raised by
The sale of Understanding Government
bords, which will increase the Govern
ment interest by various estimates from
twenty TO thirty-fve millions Of dollars
annually The annual interest now
amounts TO nearly $l00oO0,O0O. and
where Is it and this additional amount 10
come from? Gentlemen say il can he
easily paid in gold, but do they forget
That the annual interest of this Govern
men, upon bonds now outstanding and
oohds to be issued to pay of the three
hundred and sixty lime millions OF legal