The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-30

and that is my conscience Is satisfied and my
Judgment instructs me that IL " right; there
fUro | 20 for II against tho wishes Of those
respect ~ al other matters Can
have any other motive. Is II possible that any mAn
can be SO blind. with my years aud experience IN puo
Tic and III private lie, AS 10 do tins thing Tor no
earthly reason whatever? 80 against those or
many OF those love aud respect By insisting upon what
believe 10 be the true, Justan only wayf Men ought
nj least TO give the credit OF being sincere n my
belief IL Is my duty rs missionary 10 bring lisnt
~ those thut sitting in darkness upon in.s ques
ion. II is my duty 10 make my views known be-
cause believe J am night, and Also as firmly believe
that nv fellow eitlzcns are wronr SO iar AS
this question u concerned. made known my belief
III 1855 that the bonds known as The hve-twentv
bonds were payable in ercenbacxs; stated
storm OF dcnunciaicn from all SIDES
To-day there Is not reasonable lawyer
believe that they were payable IN er,cnbacks The
government, IN the year 1869, made a bond payable
il gold or silver. ana that act provided that DEBTS
could be paid either. Now ] remember that
gentleman who had the utmost respect Tor
tho government and people Of the unhca states
had said something upon tnis question. looked IN
book to II he had net said something, and no
had not said 1t good while ago. hold
in my hand tho speech OF Daniel Webster
delivered in tho senate OF The uncu States wnich
bears upon Two Of these points. He don't believe
that Is constitutional 10 dcmone'zo silver He be.
monetize silver, as II was constitu-
uona currency. lie says-"Bat what Is meant
by tho constitutional currency about which
much is said? WHAT species or ornIs OF currency
does the constitution allow, and what does 1t ofbidf
III Is plain enough that TINS ucpcnus upon what
we understand by currency Currency IN large and
perhaps Just includes ony gold ana SILVER ana
bank notes. but bls OF exchange also. IL may include
all that adjusts exchanges, and settles balances
IN the operations OF rads and business But
II VIC understand by currency ME legal money
Of the country. ana which constitutes
OF vauc, then, undoubtedly. nothn. IS Included but
gold and silver. Most unquesticna6iy thero IS no
tender in This country under the authority
OF this country, or any other, but gold and silver.
at rates regulated ny Congress. TINS Is :
copstu utonal prncple, perfectly PLAN and
expressly prohioi,ci from making anything but
gold and silver tender IN payment Of debts, ana
although no such express prohibition 10 applied
to Congress- yet as Congress has no power
granted 10 II in this respect, but 10
money ana TO regulate the value oil foreign CONS. II
clearly has no power 10 substitute paper or any
OF debts and in discharge Of contracts.
20 be preserved, ard Dug TO be preserved sacrcdy
under all circumstances. Now, gentlemen, what Mr..
Webster called absurdity, TOO absurd 10 argue,
silver, both being the currency oil the country rherc
9ss never ssn have Gu" any doubt aSSu
It's being legal tender remember tho
time when we had grcenpack currency. not by tho
virtue OF the constitution, but because the law
OF Tho land and the very nation itself was
trembling IN the balance nj time when
this currency was good enough to pay the debts OF
those VINO bod Tor the country and Tor the widows
END children OF those who died thar sac county might
1.-Two That currency Is good enough Tor me here and
elsewhere.
THIS currency saved the uaton's life, and ! am no,
goiDg 10 strike u down now No, wani TO
ported the last time that 40 no, belvc any
considerable amonnt OF SILVER II 10
remonetizcd Is 10 be recoincd. don toecve that any
great quantity is TO come into crculaslon would rot
vote Tor RECOMMENDATION u thought there was out
believe that you people here IN Boston
s wT1'a c" n.y. in tho 1 United States r''pii If
should come But II Will be notice 10 all man kind
that tins country has got hard pam aud that
hereafter The tendency OF property ID TO DO upward,
upward, upward, until u reaches us proper
level When that time comes business Will begin
10 rise again Let me say TO you TINS state OF affairs
Is caused, not by over production, but by uDd0r
SUMPTION. l said this TO gentleman who had been
.mo opa General Banks) iAppause) He said "ne
did not any difference between The two."
said, There Was great difference Overproduc-
ton would DC to produce great deal moro
than this country wanted 10 use if they had 70
pay for IT, That Is over production. Under consump.
tion Tor not 10 be ablo to pay Tor that which
they want.
Let mo illus,ratc:-To produce more than the
people OF this country can wear out Is ovcrproducion
but 10 produce than the starving million get
the money 10 pay tor Is under consumption. That -
what mean. ! mean to make II quito DIS
tinct Now, the difficulty with US Is, the garnercs
Of tho West are bursting. with corn, aud
everything that goes TO MAKE ii'e comfortable. Tho
railroads are getting INTO The haa a Of mortgages
60 out OF existence almost wholly
paying svrporaH0n These sa''r0 %ds are aching
East and bring from tho East 10 the est the means
OF protecting them from the cold winds Of winter.
No. Sn' The banks are aching to lend money.
and they are sending part Of their
circulation back the Treasury because they can
not lcnd IL That IS not tho reason. What is
the reason, then? Because II the goods were
brought from the West TO the East the people could
from The Ea., 70 the West TO shield the sh,ver,ns
women and children from The cold winds Of
winter they cannot buy Thorn. That IS the trouble.
That IS the difficulty. Somathng IS wanted to
start that and money will not be any cheaper when
Is ade out OF silver than when II is made out OF
an thing else When men get this business will
rise and give labor chance to regain It's feet
This is no slight matter. One whole million OF idle
laborcrs-in ,hrcc years the oss accustomed to the
country by the inability Of these lpborers to get work
ia equai.,o tho whole national debt ADD yet II has
been gong on tor tour years. Wa had
the debt than have this state Of affairs III
existence. The advocates OF the West anu
south arc inclined TO strike at New England
intercsla But when you expect to
ret up lnd abuse them ana call them all manner Of
hard names, Insisting that q isa peculiar New
England interest, aud that tho Silver bill should
MOI go through, you get up an antagonism between
New England and tie West II ! stick sticks
INTO them could POSSIBLY wound their feelings. aud
then when / undertook 10 argue New England inter-
ests TO them and try to drive them to think as
! DO on the silver bill ! would not carry
tor that That is q thing that will DO done with
without me, and u ! am to Represent your inter
estss with any elect l had better let That
90, for would gain nothing by so doing, and would
make N self ana my section obnoxious TO another
section Of the country.
ALABAMA CLAIMS.
There Is another matter which l think Is OF very
great interest to New England When you
realize that you have got IN Nassachu-
sets between 81. 900 900 and 81, 900, 900 claims
against the Alabama award, aud that they
are Ia very great danger OF being lost Not only
they in danger OF being lost. but you hove got pay
large sum in addition 10 that for taxes, 30 that tho
industry in Massachusetts which has been 5 much
thought OF that II is symbozed In the House OF
RI Representatives. mean the nshiDg intcrcst--is
IN danger. Now" said Mr.. Butler, 81 do not see
what right the government OF any country has say
we shall lsh within three miles o. the shore any
Than We have TO say that the
birds shall not Gy over our rico nclds,
MI their crops with rice and then. flying
back the fields OF Canada Well, there was
finally a. commissioning appointed, or he agreed,
to what ! never could ~ha.
he had tor dong. lie agreed TO the
appointment Of Board o. Arbitration, from
this country from Nova Scotia, while The third
TO be chosen by the Austrian Min ster at the
Court Of 81. James OF course he would DO
at all IN the interest o! that country. Well,
TO make loEg story short the board Of
arbitration met and agreed to make pay
nm OF IS. 500, 600 for the privilege o