The home journal. (Winchester, Tenn.) 1858-188?, 1878-02-07
JUSTICE.
Senator Voorhees,, of Indi-
ana, Makes a Demand
for it.
Justice for tho People as Well as for
the BOndhOldeIs.
An Exhaustive Review Of the
Whole Subject.


In the senate, a Jew days since, Mr..
Matthews gave way ID Senator Voorhees,
in order that he might address that body
on resolution submitted by him before
the holidays, declaring it OF the highest
Importance that the financial credit of
the government be maintained, In or
der to do so, the government itself, in
all its departments, should, in good faith,
keep all its contracts and obligations
entered into with its own citizens.
Mr.. Voorhees, said the agitation of tile
question of finance will never cease un.
til the people are satisfied that the vast
debt is in process of extinction on prin-
cinles Of justice TO tax paying labor or
until, on the other hand, they are subu.
gated into silent submission, and The
government itself becomes moneyed
aristocracy. Denunciation is now the
principal weapon used by those who are
ranged ON the side OF grasping wealth.
There is no epithet, however base, that
is not in daily use against all who ven.
ture to believe, az ! do, that to great
extent our whole financial system is or.
ganized crime against the laboring, tax
paying men and women Of the United
States, The great plea OF the present
hour for the continuation OF wrong and
injustice is that good faith requires it,
Those whO finding monstrous evil i'm
beddei in the laws Of their country,
seek to eradicate it by peaceful legisla,
ton, are at once, and with the utmost
fury, assaulted az yolators of public
faith, enemies OF the national honor,
and worse, if possible, than common
swindlers. This plea, 80 loud now in
our ears has been invoked in behalf of
every wickedness that has ever cursed
the world. The usurper invokes it to
protect the throne he has stolen as soon
as he is seated. The tyrant invokes it to
shelter his prerogative, and his nobility
in turn invoke it in order TO live in ease
and splendor off the labor of others.
Mr.. Voorhees, reviewed the financial
legislation since 1862, and said expert.
ence had shown the legal tender to be the
best money that evcl circulated. Every
government bond which did not on its
face stipulate payment in coin was made
payable by the express words of the law
in legal tender notes. This enactment
guaranteed to the American people the
right to pay three iourths of the national
debt in national currency. II was the
law of contract when all the 500 bonds,
amounting to over VI 800, 100000, were
purchased from the government by bond
holders and paid for in this currency at
par. when it was quoted ut from 40 to 60
per cent. below par in coin. Every one
understood the law to be as have stated
it at the time of its passage in fact, the
great struggle then was whether even the
interest on the bonds have mentioned
should be paid in coin. No one
in debate made the slightest pre-
tense or intimation that the priuci-
pal of the bonds WAS payable in
coin. During the full term Of seven
eventful years that followed there is not
a platform Of either political party in any
state in the union which makes such an
assertion.
Mr.. Voorhees, alluded to Secretary
Sherman's letter of 1865, fayoring the
payment of bonds in the same kind OF
money as bought them, and his subse-
Quent action in procuring the passage OF
an act for the payment of bonds in coin,
which he said was open reputation as a
solemn contract, and fastened an extor
ton of not less than $500, 100000 on the
staggering industries of the country as
the speculative profits of the operation
In the whole financial history OF the civ.
ilized world no parallel can be found tt
this audacious deed of broken faith
deliberate treachery to the people, and
national dishonesty. 1t stands out by
itself, towering high above all common
frauds, and dwaIfng them III comparison
with its own vast proportions. 1t will
bear the names OF those who enacted il
to distant generations amidst the gr0aDs,
curses, and lamentations OF those VINO
toll on land and sea, and more deeply
enprayen than any other name will be
forever found that OF the secretary OF the
treasury. rs the author Jfwhat he him
self said constituted the t"oioid crime OF
repudiation and extortiou.
Mr.. Voorhees,, in support oil bl' ppsl'
tion. ouoted the language of Ssnatos
Mor,o,, in 1869, as follows: 4" a combi.
nation of stockholders, as destitute of
conscience as pirates, and inspired alone
by greed for money, successfully thun-
dtred at these doors, and finally drove
This government into the most stupen.
dous act of bad faith and legalized rob
berry eyer practiced upon any people
since the dawn of history"
He next took up the funding act o
1870, charging it was the offspring Of 81
apprehension that the work of rspudis
ting the contract for the payment OF tn,
5.20 bonds might not be quite complete
Thus it vas provided that an issue OF new
coin bonds should be made in place OF
the original ones. The amount saved IN
interest Is trifiipg when compared w''h
the loss by the. whole transaction '',