The daily gazette., 1877-12-20

iSNC StOh Wllil tllG QtSiIt vi NIL IlOOpCT
The question being taken on the motion
OF Mt, Hooper, of Massachusetts, to sus-
pend the rules and pass the bill, 1t was
agreed to; there belng-ayes ITO, noes 49,
To my mind there can be nothing clear
er; and this is the first time L have ever
heard it denied that the bill was passed
without being read. But the fraud does
not stop here; by this bill the silver then
in existence was not demonetized but re-
mained legal tender. IL only affected the
future coinage. The foul contamination
of this fraud upon the people was reserved
for another occasion.
subsequently the laws of the United
States were revised, being in charge OF u
committee of the House of which Mr.. Po-
land, of Vermont, was chairman. Time
and again he assured the House of Repre-
sentatives that the revision had in no re-
spect changed any law in any manner
whatever; yet In section 1886 of the Revis-
ed Statutes we find the demonetization of
silver apply as well to the silver hereto
fore coined as that hereafter coined. Was
that by accident or design?
This demonstration of silver has pc
cullarly singular history-a most remark
able chapter of accidents. We have seen
that 1t passed the House without being
read or any one knowing anything about
it. We have seen the law was changed or
attempted to be changed in the adoption OF
The Revised statutes, Notwithstanding the
repeated assurances that no change had
been made. But what more do we see?
Why. in some manner or other best known
to those engaged in the conspiracy, the
President OF the United States signed the
bill without knowing there was any provi-
sion in it demonetizing silver. The bill
demonetizing silver was passed February,
1873.
In letter written October 8, 1873, to Mr..
CoWdry, General Grant SAID:
wonder that silver is not already COM
Ing into the market to supply the deficiency
in the circulating medium.
Experience has proved that it takes about
g 40 0OO ono nf Ctinpnl tn lra
the small change necessary for the transac-
tion of the business of the country. Silver
will gradually take the place of this cur
rency, ana, further, VIII become the stand
ard of values, which will be boarded in q
small way. 1 estimate that this will con-
sumo from 00,000,000 to $500 900 900 in
Lime of this species Of our circulating me-
(dium. \ confess to a de-
| sire to see a limited boarding OF money
| But want TO see a boarding of something
That is a standard is Of value lhe world over,
Our mines are now producing almost un-
limited amounts of silver, and it is becom-
| Ing a question, "What shall we do with it?"
L suggest here a solution which will an
swer for some years to put IL in circulation
keeping IL there until it is fixed, and then
we Will find other markets.
| Has the world ever seen such'a chapter
of accidents about matter of so much i'm
portance?
| said accidents. l recall that word and
use the one more consistent, as / believe
| with truth, namely design ,deliberation and
| Intention in this indirect way to defraud
| the people. Here we see that seven months
after General Grant signed the bill he was
| utterly ignorant of it, and is wondering
"tnat silver is not already coming into the
i market to supply the deficiency in the cir
culating medium" :" He says he wants 10
"see a boarding of something that is
standard of value the world over. Silver
is that" He thought there was a ''defi-
| cheney In the circulating medium" He
thought "silver was standard of value the
world over" L commend his views to
those of my friends on the other side of the
\ Chamber who have fought so long under
his banner
| Let US for a moment review the history
of this whole matter.
| When our national debt was first created
| we have seen it could be paid either ia lie.
| gal tenders, silver, or gold. First you took
| from the people the right to pay it in legal
tenders, and made it payable in coin.-
Secondly, you demoneIlzed silver, by
| which you compel them to pay IL in gold,
| and in addition TO this all the time you
| have been contracting the currency. Isit
| everything else deprecated? We only have
| about SlS5, ,O00, 900 in god coin and bullion
| in The United States as shown by the last
| report of the Director of the Mint, 1t re-
quires more than half of that TO pay our
| annual interest on the national debt, TO say
| nothing of the principal. Where is yo ir
gold tn come from TO pay the principal and
| interest on the untold milliOnS-Some say,
| s 10 900, 900 ,000-of our State, county, muni-
cipal, and corporation debts? Where will
my friend from New York get the gold to
pay your State taxes, for you have passed
| law compelling your citizens to pay them
4 in gold after January, 1879? Where will
the citizens OF New York get the coin with
which to pay their private debts contracted
after January !, 1879? For you have pass
| ed law compelling them to pay such
debts in coin. Where will you get the gold
to resume specie p 'yments, to pay the
$30O,O W,OOO OF legal-tenders? For 1t is all
n an " 10 a TQiSCna1 a fnr.
they have been redeemed, for If such be the
proper construction, that the Secretary Of
the Treasury, or any one man, has the pow
er to contract or expand the currency at his
will, it ought instantly to be repealed. No
such wonderful, startling power should for
day rest in the grasp of any mortal man.
Truly indeed would we have union of the
purse and sword, which could and would
be welded for the purpose of swayiAg elec-
tions and controlling legislation.
Mr.. President,l have already detained the
Senate longer than l should. have sought
in my humble way to put forth one plea
for Justice to the American citizen. | do
not know that | can bring my remarks to |
q close more becomingly than by reading
and commencing to the American Senator |
the language of one of England's greatest |
men as he was quitting power after having |
just made mastery struggle for the sur |
fering poor of his own country.
1t is the last speech of Sir Robert Peel, in |
abdicating his position, not only as prime |
minister, but as the leader of a great party |
He thus concluded his address upon this |
memorable occaSion:
In quitting power l shall leave behind a |
name severely blamed, fear by.many |
men, who without any personal interest, |
but only with a view to the public good; |
will bittery deplore the rupture of party |
ties from a belief that fidelity to party en- |
gagements and the maintenance OF great |
parties are powerful and essential means |
of governments that shall also be blamed |
by others, who, without personal interest, |
adhere 10 the principle of protection. which |
they regard as necessary to the prosperity |
of the country; that shall leave name |
detested by ali monopolists. who from less |
which they largely profit; but shall per |
haps, leave a name which Will sometimes |
be pronounced with expressions of good will |
by those whose lot in this world is to labor |
who in the sweat of their brow eat their |
daily bread, and who may remember me |
when they renew their strength by. food at |
1r,nl, ah,rhnnf and 1aNpl and which L