Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1877-11-29
RESUMPTION.
GEN. GARFIELD on the Re-
sumption Act.
A Courageous Speech i'm Behalf
of Honest Money.

A Courageous Speech i'm Behalf
of Honest Money.
On the 10Th inst, Gen. GARFIELD
spoke on the finances in Congress, and
delivered what is generally admitted
one of the most powerful speeches on
the subject ever heard on the floor OF
the House. The following Is the full
text of the speech:
We are engaged in debate which
has lasted in the Anglo Saxon world foI
more than two centuries; and hardly
any phase of it to which we have lis.
tened in the course of the last week is
| new. Hardly proposition has been
heard on either side which WAS no.
made seventy-five years ago in En-.
gland, and almost hundred years age
in the United States, so singularly does
history repeat itself on questions OF
| this sort.
That man makes a vital mistake
WIN judges OF truth in relation to IL
nancial affairs from the changing pha-
ses of public opinion. He might AS
we'll stand on the Bay of Fundy and
from the ebb and flow of the tide judge
of the general level of the sea, as to
stand on this floor and from the cur.
rent of public opinion in any one de-
bate judge of the general level of the
| public mind. 1t is only when long
spaces along the shore of the sea ar ia
ken into consideration that the grand
level is found from which all heights
| and depths are calculated, and it is on
ly when long spaces of time are taken
| that we find at last the level of pubic
opinion, which we Call the general
| Judgment of mankind; and from the
particular ebb and flow of public Opin-
ION of to day, appeal to that general
Judgment OF mankind on the question
OF currency, which is the subject-mat
ter of our debate.
suppose it will be admitted Ou all
hands that 1860 was year of unusual
general business prosperity in the Uni
ted States. 1t was at u time when the
bOunties of Providence were altered
with liberal hand over the face of
our Republic. 1t was a time when all
CLASSES of our community were well
and profitibly employed. 1t was q
tiilCOi pOdSC, thO apprehension VI oui
great trouble had not yet seized the
mind of our people. Great crops North
and South; great general prosperity
marked the era in which we then
lived. If one thing were settled above
| all other questions OF financial policy
| in the American mind ut that time
and onward for year it Was this: that
the only souad, safe, trustworthy STAN
darG of value was coin of standard
weight and fineness, or paper curren-
cy convertible into coin at the will OF
the holder. That, l take II, was the
almost unanimous opinion of the
| American people in that era, and had
been for long time previously. And
the opinion of 1860 81 was the aggrega-
ted result OF the opinions of the fore
| most Americans who ever thought
and wrote upon this subject. make
this statement without fear 0flcontra-
dctiUn, because / have carefully ex-
| amined the list. No man ever sat ia
the chair of Washington as President
of the United States who has left on
record any word that speaks of any
safety in finance except based on con-
vertible paper, PAPER convertible into
coin. Every President that ever left a
record on that subject has left it with
out qualification in favor of the doc
trine [ name. No man ever sat in the
chair OF the Secretary of the Treasury
of the United States who, if he had
spoke ut all On the subject, has not left
on record an opinion equally strong,
from Hamilton down to the day of the
father of my distinguished colleague
| (Mr. Ewing), and to the present mo.
,Dent. Now, Mr.. Speaker, it seems to
me that the general judgment of all
men who deserve to be called the lead.
ers of American thought, ought to be
con sidered worth something in an
| American House of Representatives,
on the discussion OF great topic like
this.
What happened to change, or to
mske a departure FRI m this general
level of public opinion in 1861? Every
| man knows the history. War, the over
mastering necessities of war, led the
men of 1S61-62 to depart from the doc
trine of the fathers; but they did moi
depart from it as II matter OF sentiment
only as matter uvermasteIing neces
sity. Every man in tha Senate and
House 10 1862, who voted for the green.
back law, announced that he did il
with the greatest p -ssILle reluctance
and with the greatest apprehension fol
the result. Euery man who spoke or
the subject, from Stevens down to tht
humblest member in the House, anC
from Fessenden to the humble ct Sena
tor, recorded his vote against the dan
gers that might follow, and declared
with all his vehemence, that at the
earliest possible moment the coHntry
should be brought back 10 the old saf'
and established doctrine of the fathers
When they made the law creating th'
greenbacks they liGk:'d it with tn,
hooks of steel to the most solemn
pledge men could Iut into writing tina
they would come back 10 the dUctrine
of the fathers. The very law that ere
ated the greenbsck provided for its re-
demption and retirement, and ever,
time the necessities OF war required 81
additional issue new guarantees ant
new limitations, solemn in their form
were put upon the new issues To insur
their ultimate redemption. rhey wer
issued with every pledgethat the mum
Der should be so limited forever tina
under the law of the country the court
might enforce their sanction. Th'
: men Of 1852 knew the dangers from
sad experince in our history, but lik