The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1877-11-23
FORTY-FIFTH CONGRESS-.
Excerpts from the House Debates on tn,
Ewing Resumption Repeal Bill

Ewing Resumption Repeal Bill.
Mr.. Chittenden, Of New York (holding up
$40 legal tender note), said he was very much
downright reputation. The note in his hand
was the promise of the Government to pay him
$40, but no date was fixed for payment. The
note was issued in 1875, and, on the 14th
day Of that year, Congress had enacted law
declaring that this debt Of the Government
should be paid on the 1st Of January, 1879
The Government must keep its promise faith
fully, or it would become the leader OF all the
regulators in the land, including every de-
faulting town. city, and State. The question
of honor was the central and vital point in the
discussion. He criticised the opening speech
made by Mr.. Phillips, saying the contraction
OF the currency under the Resumption act had
no more to do with the present sufferings of
the country than it had to do with the frozen
feet Of the Turks in Schipka pass. The limita-
ton of paper currency should be left to adjust
itself under free banking system guided by
the eager, intelligent, aggressive enterprise of
the people. There was but one alternative, an
exclusive greenback currency subj ct at all
times to the caprice Of Congress. The pending
bill was hurtful, discreditable, and without ex-
cuse. The country was now shaken by the
wild blasts of grand currency illusion which
had swept over the plains of the South and
prairies Of the West. carrying the House by
storm and threatening to ingulf national in
tegrity. The 6reenback was the most power
full enemy the country had ever encountered,
slavery alone excepted It was a fraud it was
sham; it famiiarized the individual and pub
lie conscience with shams. 1t had muddled all
the springs OF honest thrift aud solid enter
prise, had confused and msled public judg-
anraN hal Ill.
the Federal treasury, and had given immense
comfort to demagogues.
MIR. FELTON, made a speech in favor of the re-
peal OF the Resumption act. He bitterly de-
nounced the capitalists Of the East Address
ing himself TO Mr.. Chittenden, he said: "And
yet you undertake to comfort the country by
telling it that all these things will right them
selves. Yes, L know that these things will
right themselves when they have touched the
bottomless pit of despair and poverty. Look
yonder at that storm-driven ocean Hurri-
cane and darkness are upon the deep. Signal
guns are firing every minute. Ships are going
down by the hundred. Thousands Of precious
lives are being ingulfed, and in the midst of
all ruins there (pointing over to Chittenden)
stands the wrecker waiting for the spolls, and
assuring those in perl Of destruction that all
those things will right themselves"
MIR. Townsend, Of New York, said resump-
hon has come within a hairs breadth. The
national imports of last year had been less
than the exports by 1888, 600, 000 IL was this
that had carried down gold toward greenbacks
by some per cent. The crops of the year
would next year bring $3.50 000, 900 from Eu-
rope and that would do the rest of it. There
was an abundance Of crops in this country, such
az 1t never had before. North and west of
Ohio. north OF Missouri and north of Kansas
there were millions OF bushels of corn. The
country had a crop Of wheat such az ii never
bad before, and crop Of cotton equal to the
BEST Europe must have it, aud must pay for
II. The country must enjoy this prosperity
In spite Of mistaken politicians of political
hsrpies, and Of self-styled friends of the peo-
pie.
Mr.. Eames said, in his Judgment, it was |
practicable to redeem at the time named, and |
t ought to be done, and he was therefore OPP |
posed TO the bill before the House. IL was of |
40 consequence how or why the law was passed |
which fixed the 1st Of January, 1879, as the |
late Of resumption. Since that law had passed |
,very contract which had been entered into
throughout the country had been entered into
With the view Of resuming on The day fixed.
md any change in that law would affect every
)u mess In the country. He entered his pro-
est against the passage Of the bill, az hasty
ll-advised, and fraught with great evil alike to
he credit and honor Of the country at home
md abroad, and to labor, capital, trade, and
commerce.
Mr.. Ballou declared his belief that the repeal
u the Resumption act would be pernicious and
detrimental to the business interests of the
ountry.
Mr.. Hubbell declared himself in favor of the
assumption Of specie payments, because in his
pinion the country had reached that period
Then its commerce and general business
hould be provided for. He explained and
dvocrted the amendment offered by himself
D the pending bill.
Mr. Kelley read from an article in the North
Imericdn ReUiesc, over the signatureof Hugh
which he SAID exhibited an ignor-
nee discreditable to the country whose secre-