The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1877-11-22

than the exports by 1888, 00O,0 00 It was this
that had carried down gold toward greenbacks
by some 8per cent. The crops of the year
would next year bring $3.50, 900, 900 from Eu-
rope and that would do the rest of it. There
was an abundance of crops in this country. such
as it 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 as it never
had before, and crop of cotton equal to the
best. Europe must have it, and must pay for
it. The country must enjoy this prosperity
in spite of mistaken politicians, of political
harpies, 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
it ought TO be done, and he was therefore op-
posed to the bill before the House. 1t was of
no consequence how or why the law was passed
which fixed the 1st of January, 1879, as the
date OF resumption. Since that law had passed
every contract which had been entered into
throughout the country had been entered into
with the view of resuming on the day fixed,
and any change in that law would affect every
business in the country. He entered his pro-
test against the passage of the bill, as hasty.
ill-advised, and fraught with great evil alike to
the credit and honor of the country at home
and abroad, and to labor, capital, trade, and
commerce.
MIR. Ballou declared his belief that the repeal
of the Resumption act would be pernicious and
detrimental to the business interests of the
country.
| Mr.. Hubbell declared himself in favor of the
| resumption OF specie payments because in his
opinion the country had reached that period
| when its commerce and general business
should be provided for. He explained and
adyocrted the amendment offered by himself
| to the pending bill.
| Mr.. Kelley read from an article in the North
american ReUieeo, over the signature Of s'Hugh
McCulloch, which he said exhibited an ignor-
ance discreditable to the country whose Secre-
tary of the Treasury the author had BEEN and
a mendacity which invoked all the opprobrious
| eplthets that ever had been hurled from the
reporters desk. He went on to say that Con-
gress, IN legislating for tho resumption of spe-
Gle payments, was legislating an impcssibihty.
The laws made could not be controlled by the
| wlsest Government. Greenbacks had been de-
nominated as the curse of the country, and yet
it was greenbacks, the "rag baby" that had
saved the Union. When gold. dehowered, had
left the country, then the "rag baby had
| stepped forward, and had kept in the field the
armies, and had supplied munitions, food and
transportation. That which served 80 well in
war was not deserving of the contempt which
was being heaped upon it in peace. That
which gave the nation credit to the amount of
90, zoo, 0OO,0 600 was certainly enough to sustain
the credit of 90, 600, 900, 600.
He predicted, in spite of the ieer and scoff.
that if the Resumption act was to be main
tanned the sutferlngs of the last two years
would be (when compared with the sufferings
yet to Gomez as light as the chill that blights
the tropical plants when compared with the
Arctic cold that builds up the mountainous ice
berg.
At this point his hour expired, but unani-
nous consent was given to him to finish his
| speech.
Resuming, he asked the House to wipe out
that ruinous statute. 1t stood menace to con-
hdence, the steady destroyer of credit It was
q notice to every capitalist that the body of the
money was to be contracted; that the banks
must hoard specie for resumption that prices
must fall F.; and therefore the best use Of money
was to bury it either in their own cellars or in
the vaults of the banks.
In conclusion, he said: Repeal that act, re-
store confidence, allow the tramps and millions
OF worklngmen and women who are now living
In despair to go to work on your raw material
and supply each others wants. No nation, no
individual, was ever freed from debt by idle
ness aud want of industry. Set the miners of
Pennsylvania and other coal States at work in
producing power. Let the coal they mine
quicken your machinery. Let wages be earned
by working people to enable them to pay their
debts, and to consume dutiable and taxable
commodities We have gone at this thing bull
headed, and have thus effectually disabled
ourselves, deprived ourselves of confidence,
impoverished our people, diminished the
revenues Of the Government, and put our
selves in position that in the midst of
abundant crops eur people are hungry. With
our cotton Qhe largest crop that we ever pro-
duced) they are naked or in rags. Remember
that you are to deal with five thousand millions
of Indebtedness. You are to provide reser-
voir from which every old woman in Berks
oN Nf~ n-c4ool
vide fund from which every bOarder NAV
draw for boarding. You are to say to every
European creditor We take the risk of your
markets, of your necessities for gold. We will
go 1t higher, We have got $40, 000,0 600 or $15,-
600, 900 to do it with.
Mr.. Hartzell said the Resumption act had de-
stroyed all the business transactions of the
country, and had taken money from the
pockets of the people and placed it in the
possession of the Shylocks and money
lenders. He defended the action of the
House in passing the Silver bill and declared
that history would erect for the projectors of
the bill demonetzing silver a monument i'm
mortal in its infamy. The financial policy of the
last ten years had been to kill the people and
sustain the national banks, so that Wall street
might prosper. ''Repudiation was now the
cry of the rich, but wholesale robbery was the
well-sustained charge by the poor. The people
demanded the repeal of the Resumption act
and the reconciliation Of silver.
In conclusion, he entered his protest against
the whole financial policy of the Republican
party.
MIR. Hanna declared himself opposed to the
Resumption law as it now stood. He was not
in favor of wild and reckless initiation. That
was the other extreme. equally unwise and dis
| astrous as enforced resum etion and contrac-
tion. He was in favor of keeping the legal
tender cul rency intact until it should have the
same purchasable value as gold. AS Repub-
lican he scorned the idea of reputation In
behalf Of an honest constituency, who would
bring their all if necessary and lay on the
counter of the treasury as free offering, in
order to sustain the honor and credit of the
country, he hurled back the charge that the
projectors of the present bill were taking o
! step toward reputation by demanding the re-
peal of the Resumption law, and he bra led it
as unwarrantable and untrue. The opponents