The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1877-09-05

spersed with gold Washing our shores
+ from Missouri To Louisiana. We have the
grABdest river known to earth, which. with
( It's tributaries. reaches twelve of the sixteen
southern States, bearing upon its bosom
I their products aud the products OF that
American 'cOrnucopia,' the North Ncsr,
and gathering dp our own, ia its IA arch,
4 hurries them on 20 a Southern port, des-
timed, IN time TO rival in commerce the
4 richest cities of the world.
These are our natural advant ges but
; they muSt be properly utilized Our Sout n
/ ern Pacific railroad must be built, putting
! Us in direct communication with the grain
/ and stock regious OF Texas. New Mexico,
and California, and establishing direct trade
/ with India, China, Japan. ana other Asiatic
nations, who would gladly exchange their
( teas, coffres, silks, diamonds, and other pro-
/ duets. for our great staple
/ Our Ieveess on the Mississippi river must
! he rebuilt, thereby wrestling from the floods
! our rich Inheritance in the Mississippi bot
! toms, which has the capacity of ciothlHg
4 the world, with its population Quadrupied.
The jetty system, AZ the mouth Of OCT
great river, must be com pleted, allowing
vessels OF the largest tonnage 10 anchor at
the wharf at New Orleans, whence our pro-
/ dOcCs may be conveyed, without trans-ship p
| meat, to all the markets OF the world.
Manufacturing must be encouraged, thus
/ diverSifyin2 labor. and giving employment
to capital. The influx Of honest industrious
! laO8rers, artisans, aud mechanic, must be
=
menJs which we can command These
/ must be seasoned with charity and tolera-
| tiou for all men, aud hatred ana llI-wlll tor
| none, and we will soon find ourselves upon
! the up grade OF individual and national
/ pros perity.
| To secure these vorable res Ats, national
aid must be invoked. Time was, when The
! Dem ocratic party South, warred uncta-
| singIy upon the exercise of Federal power
or the use of Federal money in aid OF
! internal i'm prOvements. But by series OF
! legislative en- actments, construed Dy JuIi-
ciaI tribunals TO be constitutions, this Il tes-
ton has been settled against our opinion,
/ aud it i ~ lOuVer an open one during
the one hundred years of our national life
! Just closed the appropriations for Internal
i'm proYementS. in the North nave
/ been $4,000 600, in the South Sl9OO,GOu
/ Just ten per cent. OF the amount received by
/ The North To refuse national aid then,
upon the grounds of unconstitutional
would he worse than folly We must de-
| maud of Congress the passage of such laws,
as have been enacted in the interest OF other
| sections.
PROTECTION OF LABOR AGAINST CAPITAL.
come now 10 the discussion of a ques-
| zion so delicate in character, and SO far
| reaching in its effects, as to perpieX the
wi,est heads oil the land. Since the slavery
/ question has been eliminated from politics.
| none other of such magnitude ana 50 dlif-
cult of solution, has arisen, n the relations
of labor and capital. do not pretend 10
be equal to the task, but stand prepared TO
| follow the lead ofany great mind, which
| can devise means to hold in check the un-
| due power OF capital, and at the same time
OFF, IA fair compensation to labor. Con-
gres, will have 70 deal with this question,
but its action will BE- rather OF a negative
than a nOsitiye character. 1t must operate
| BY repealing The Resumption Act" The
Act dem onetizing silver, the Act eXempting
| government bonds from taxation; by redu-
cling the rate OF interest upon the govern
uent debt; by a modification of the tariff
by still further retrenchlng government
expenses by exercising such jndicious con-
troll over great lines OF trans pOrtatiOn as the
/ powers OF Congress will allow; and by aid
ing in the construction of a Southern Pa
cific railroad which will give employment
to many idle hands.
Other more efficient means may be sug-
gested to meet the pending crisis, and il
they shall be constitutional and just | shall
give them my hearty support.
In every age Of the world, and under
every form of government, where labor and
capital have been found in different hands
an antagoniSm more or less marked, has
/ sprung up between them. Labor as natu
rally seeks its highest reward, as water
| seeks its level, and hence workingmen's as
sociations and labor strikes, which some
times convuse society. On the other hand
capital seeks ACCOMPLISHMENT at the eX
pense of labor, paying as little for 1t As pos
]
r poverty and distress upon toil1ng millions
At best, the contest must ever prove al
, unequal one. Capital in the shape of money
knows nothing of hunger, thirst, or unrest
but may sleep quietly in its irOn-bonnd
fire proof vaults. until its antagonist, ema
} ciated by hunger, and broken in spirit, be
t comes an easy prey to its rapacIty. Ia
/ back IN the dim past, when Heavens Law
{ was revealed to man on tables of stone
\ amid the thnnders of Mount Sinai, one o.
e the ten comm andmenjS was directed agains
/ the sin of cOvetausneSs. With this com
: maudment staring him in the face, Juda
r sold his master tor thirty pieces of silver
+ and from that period down, even to on
dav. men have continued to drive bar
f gains scarcely less diShOnorable. Since on
q race began individuals and associations o
= men. have done and suffered everything 70
money; but that government which through
{ its statutory enactmentS, deliberately fOS
+ terS capital in the hands ofthe few, at tn
Z? expense of the labor of many, does not de
} 6 rye, and is very certain not to enjoy, tn
- continued confidence of the masses of thu
e people. Measuring my words and know
d ing their full import, charge that such ha
= been the course OF the party in power 70
5 the last tittern years. TO make good IN
= declaration invoke the patience of my au
0 dience while | call their attention for fe,
Il moments, to the action of Congress, upo
{ three leading questions of public interes
: viz: Finance" Tariff and Publ
Lands"
= FINANCE-BONDs OF THE UNITED STATE
GOVERNMENT.
4 During the progress of the wa
/ bonds of the government, called ''fvf
:. twenties'' to the amount of $1,000, 600 &C
t were issued and placed Upon the marke
+ AMI sold upon an average at sixty cents o
y the dollar, realizing TO the government
T $960000,000 Ia currency or ''greenbGckS,
n leaving to che purchasers forty per cen
= upon the investment, or a clear gain c
l. $64O 100000. The interest upon these bono
was payable semi annually in gold, at 81
n per cent. per annum. 1t will be notice
:, that this six per cent interest is not upo
5, the amount actually paid out by the pul
: ehasers, viz, $3.50 100000, but upon th
d lace OF the bonds $1,000, 100000, whic
e makes the interest upon the amount actU
# ally invested and paid in ''greenbacks," ]
]. per cent. per annum. But take the pur
!, chasing power of these ''greenbacks" at tn
lie time of the investment, which was only :
IF per cent. in gold, and thus we find tn
amount actually paid in gold was only $3.50
IL 100000, for the $1,000 100000, of bond
e thus realizing to the bondholderS exactl
lie 20 per cent. interest.
n But again, by an act of Congress of Jun
81 4th. 1864, these bondholders were author
a zed to deposit their bonds in the vaults of I'll
e United States Treasury, drawing interest &
e above stated. and upon these bonds thu
n hypothecated, To receive from the Treasur
l. 80 per cent. or $50 90 on each 800 90 to |
e used in the establishment of Nations
Il banks, which banks are authorized
h charge interest upon their capital loaned, Il
h money so drawn, at the rate of per cen
a, per Rnuum. Here then we have the bono
is lying in the vaults of the United STATE
I'd Treasury. drawing % per cent. as show
above, and the per cent. on the bank LOAF
IL to be added, making about 261s D.
i cent. interest. What think YOU OF this e,
: hbit of Republican Finance? When il
: remem bered that money can be had in Ne
10 York city upon call, at from two to thrs
= per cent, is it strange that taxpaye
pr should rebel against lch infamous legisl