The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-01-16

Senate-rhe galleries were full and
all open spaces in the chamber filled.
Mr. Voorhees,, of Indiana, called up
the resolution submitted by him on
the 18th of December last, declaring
that it is of the greatest Importance
that the financial credit of the gov.
eminent be maintained, and IN order
to do so the government itself, in all
its departments, should in good faith,
keep its contracts and obligatlo -
entered into with It's own citizens.
He referred to the continued agita-
ton of the financial question, and said
it would never cen e until the people
are satisfied that our vast debt is In
process of extinction, on principles OF
justice to the taxpaying labor, or until,
on the other hand, they are subju'
gated iato silent submission and the
government itself becomes changed
in spirit and form into m0neyed
aristocracy. 1t may be that this lat
ter alternative is to overtake US
There are dark and plentiful omens in
our recent history indicating such Il
conclusion. There Is numerous and
powerful class in our midst who be
lieve, as Alexander Hamilton de-
clared, that the British government,
In this as well as on other points, Ia
the best ever devised by the wisdom
of mau. Those entertaining this Opin-
ion have thus far triumpbed IN the
financial legislation of the United
States, and the time has now arrived
when their victories must be reversed,
or soon th.j government will cease to
be republic, and the people no longer
be free.
He argued that to great extent our
whole financial system is an organized
crime against the labOring, tax paying
men aud women Of the United States,
and those who thought, as he did, that
a great work of financial reform is de-
manded in order to secure the people
from slavery, in fact If not in name,
were denounced. He spoke OF unholy
avarice having It's stronghold, and
privileged classes having entrenched
themselves, and said "This plea OF
good faith, now 50 loud in our ears, has
been invoked ia behalf of every wickN
edness that ever cursed the world"
He then spoke OF the act OF February
., 1862, as the beginning Of our bond
ed debt. The precious metals were
found to be unequal tn the emergency
of war, specie payments were aban'
doned. As soon rs The hour OF trial
came, gold and silver covered in
the rear, while the legal tender dollar
vent to the front with the flag and
STAYED there. He was among those who
doubted our right to ISSUE 1t, but ex-
periepca had shown il, all things
considered, the beat money that
ever circulated on American soil. He
ARMED that this act, and by similar
legislation at subsequent periods, ev-
erv bond Issued by the government
which did not on its face stipulate for
rsvment 10 coin was made payable 10y
the express words Of law in legal ten
der uotes.
He quoted from the language Of the
late Thaieus Stevens TO the effect that
even the payment of the interest on
the bonds In coin was on odiOus and
uniust discrimination In favor Of the
bondholder He also quoted from
speeches Of Senator Sherman to show
that he EXPRESSED the opinion that the
bonds were payable in legal tenders.
SIR. VOORHEES, characterized the acts
of congress proposing to pay the bonds
in coin, a. the beginning Of repudia'
ton. The present secretary of the
treasury was the chief Of the repudla
tors, foremost among the violation