New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-14

creditor is to suffer in any event This 70 not sound
S SoTsrnmen %0ra to haHs its faith
in the keeping OF contracts ITS gvSn snspsen
England made r contract guaranteeing TO parues VINO
ay submarine cable at the suez Ganai, per per
cent on their investment to commence when the hTst
message was sent through the cable. The cable w!s laid
and several messages were sent through IT, Meh .h
question arose in Parliament as to the payment Of the
subsidy, 1t objected that as me cable dd no. con
cancelled Gladstone declared. in debate, that Great
Britain could afford to have the question discussed
unanimously voted such should be our National honor
and any pccunary benefit gained by saving 10 per cent
pensafe for the Disgrace tlat attaches to the act
In National point of VIEW we lose by this sealing OF
We were rapidly lrefunding our debt from @ into
per cent bonds saving millions thereby a nm acfon
Congress and Will be resumed with such action
Rnt ne puoc creditor is not merely the bordholder
By paving your pensioners deprecated silver you re-
dcc their pittaDce by the amount OF tne utscS,
ngs banks, which aggregate the little savings OF me
poor Every aoorer in the employ OF the ran
will feel the effect u youi legislation IN fetneea Ivu
neration. Labor everywhere throughout inc county,
win be unoergaid Just SO mI G1,d as THIS us'a'o"
have listened bere TRADES against the bondholders
and 10 arguments the effect OF which 10 show that
IL served him right 10 pay him In tuis INFERIOR Soi a
case Inc creditors Of Connecticut and NewYork would
get from the West coin OF less value, III payeu. Oh
debts, than the goa uOldf OF tue ~, -.
ators reflect that if they are correct IN this iaoor
also is bo paid for It's daily, honest toll III thl SAM
10 per cent reduction OF labOrI Ii are not deceived
in your Anticipation gaining advantage oyer the
10 shield himself from tue effect of your icgsatont
Yet this to be the animus OF the whole mOvenen
must take and we tod that this Is not done the
peope are 10 be transformed into raging communists
Entirely Inconsistent With these anclpatiOhs Oh cnea
aud less valuable money to be fOsted on me cfejOrs Oh
the country r. the assumption mad IN US as3e IuS
Of silver will make that amount OF metal WOrth gon
doll an II such would be tue effect the most OF the ad
vOcates bill would not want IL passed; Tor tIey
clamor for cheap money. not money as dear AZ gold.
THE BILL a BLOW AT PROTECTION.
One effect of the passage of this bill Will be reduc
ton Of TIE tariff 10 per cent II all Obligations OF the
Government are be paid in silver, this viii relatively
reduce Il nay increase the revenue, by inducing larger
nnportauons Of foreign goods. But nave observed
during this session PORTIONS from wOrkingmen all over
tie country. in view of the movements iof tlfln re-
vision Praying that tGorc may he no reduction because
Il viii discourage American industry ana raDSler VIC
business ~ manufacturers our WOOL growers cur
iron furnaces, ETC. 10 foreign soil In0uced s1cn peuOS
presented by the senator r0n KENTUCKY thi, SitNIeelD
the other day. Pennsylvania mas sent gitat many.
Large meetings tue subject have been held IN tat
state Yet The senator from PeDnsylVana M Nduactj
ARGUES clahogatcy for the BILL which, so lar as the lar
tf i ned could Just as well read All uulIes Ie'
c ed on imported Fo'u' Shi "'''''' ~
Enov this argument win recommend tne bin TO the
advocates OF free trade to those VINO hate me American
system OF Incidental protection Of our lndustfy Bul 70
those who desire 10 hay Ont anacturcs iourlshIohr
Labor skilled and unshed, cnplOYei-ths OiII; iahis
10 per ccut underyaiuo dollar receivable IN place OF
gold dollar for customs, should he an denomination
cal attention OF Senators ana ther cosnturn'5 no
are opposed TO assault on American industra ny an
ndiscrmuate horizontal reduction OF ths larin 20 'e
necessary effect OF the measure II hey oeht Inl5 ci
ecf let thom answer the arguments - the friends OF
he b who argue III favor OF u on inc ground tit ~
viii furnish poorer Kind OF money goca enough ior
TIE EXPULSION OF GOLD.
Icbcct 10 This bill because II win Danish gold from the
~ fttf nsx4 no he
Use to pay the principal interest of the debt and
Will collect none at the Custom Houses Merchants viii
not need II 90 pay duties. II will be without employ
nent piece Of gold coin viii not be found In nse IN
any part OF the country, even IL The Pacific sate aer
the bill Is m fuli operton me u" 70 .'! Of
dues at tie Custom Houses, and by Government
lo paw interest On tne debt has preVented oar Delns
d.pcciatad Bat those safeguards are removed ny ms
e,sla1u AMI We dfe about eohi.Ai,t'Hs VIC s.nv,'
dous folly of d!ibera u cXpeug nom lac country IL
whole stock of gold coin. Who i 70 oe me
5r TIE people Of tue United States Germany and Eng
land and Franco may gam by sich transfer, out We ar
foarily N, Losers Is - easy sucn Di rs tni' 20
cxc gold; but b. bill that can be devised can IL bF
called back again. blow VIII have been sirlck at our
iros certify useless IN every aspect thas u VIII ahe Two
generations Of pitcnt labor. economy and sedchylnS
indcr tbs bin Tor Temonetizug silver can he
prepil out the snakes eyes OF gccnback Imitation The
Congressional League calls itcii ihe silver ana Green
back League" Ihc prominent auEp.htes OF ii' i,saI
ton al over the country were, ana are yet'
the duyOtees OF Imitation. Senators, VINO urlb-
Is resisted that Decentralization. arc carried on
thrir feet bv this one. ! warn them that they VIII
nest aCaln confronted with greenbacA nlttioD, pure
ard smule and they must yield 10 u, or, resisting Tor
he cheap popularity Row gained ny TINS concession
10 usound finance. Under such circumstances OF con-
tun assault upon the public credit. ana oppol0n 70
rr,fru t. u Spec.c blss'ho normal Condition or husi-
css-hIw cau ID be expected that confidence Will eAit
OLD enter. l,es fa!tcr and ucW ones are telecte ~
ci-, business discouraged ana uncertain ~ the
future. No, sir; 4 Is not for want oi none
tha. Tie Business OF Tie country stands sui,
that labu.cgs suffer- tLat the farmers and uanutetnie,
have poor markets. IL for want ot confidence, ana
tiiS I'll Kills confidence
Ihay. heretofore Snid little in this long debate now
sur not taI nope 10 con, nce any senator Uu 10 dis
c?rz duty 90 Ny conscience. LOOK upon this leg
-lden "a t.nduC 20 stain our National honor ny repui-
a.in. Sacred Obligations. believe 10 VIII dsastroIsy
uGcct Amc. industry 10y an npIOper ana uniisclin
mating reduction of customs puts; mat ~ WIZ lthIsh q
coin under the dece!tWl appc intiO1 oi dollar 10 an
icrDdy aud clip the wages O Labor ana the pltalce on
uic prsoucr; thut il gives an Uncomfortable adya-
~ o the sutcGatOr in silver ~ the expense OF the Gov
cruucat and The people, Whl9 oaul,ling gold nom the
county For such reasons, avn opposed to It's passage
Further remarks made by Mr.. HEREFORD
Dem. ". Va.D; by Mr DAWES, (Rep. Mass.,) who de-
med that the decentralization act was Struggled through
Congress; and by Mr. VOORHEES, Dem. Ind,i who in
sisted that the act was sinuCgled through.
MI JONES REP. Ncyadal then took the floor with the
Understanding tuat ne would proceed with his remarks
tomorrow. Ihe Senate, at $40 O'clock, adjourned.