The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-05-10

hnt~a weail essa the telling sss. ia
isNas TINT wnuld .l.st ssse Nafiastni
President
Al she vla~e III ihr nraslan The rrss
slent STATED tlst shr rsgpHss TRIM ihr
Congressional districts wesv III nriI
The rslrsts fSum nrafly all shr districts
we're highly encouraging,
rHE FINANCES IN TINE sENArE.
Ass~ ~v~~~hvs ~ M..srs t~sry. ~ Nsrh,.
saa. awa se~sh~~s. ~ isass.a.
Mr.. Ferry called mp thu Honse hill 10
repeal the Srecie. I,esumpti"n ars, AMI
real 4 lengthy arsnmen, explaining Ne
amendments reported w The Committee
ON Finance. liz referred u the fact
TINT unite, States notes and gali wrrc
nearly equal to-day. and argued that this
Was hastcncd hy the passage ~ the MT
70 restore The standard silver dollar.
Abiding to ,hc passage " the net u
Jan. IL, 1878. IN resume specie pay.
mcnts, he said he joined IN IL m \ com
promise measure reluctantly. After ~.
planning thu amendments reported NY
The Committee on Financc, III sail tint
II the bill should be sgrcci toas amend
ell II would ris. the country volume
IL currency oil ssssO. ON, 900 lie argued
that the bill would restore commercial
confidence. II would result In our own
people holding the national delft instead
Of Foreigners. The recent sale of 81. O00,-
OOO of bonds by the Secretary oi the
Treasury was M assurance OF this and nu
evidence Of the advancement II public
credit. The Government should now
turn Ito attention ID Mpholtling itn credit
with its own people. He next referred
" the coin required ny the Government,
aud said no fears need be apprchcndcd
thnt the Cove rnment would have 10 20
abroad 10 seek coin ~ meet II. require
ment.. The Necessity for denying
United States notes their rightfnl place
IN the circulation III tho country Ind de-
parted. liz believed grcenbaeks nnh
coin would bo ut par before the Int IL
July next, and referred 10 tn announce
mentA daily made by business firms and
banking associations, that they Ind r.
stunned specie payments. Referring u
Will street, hc snil NIL the knowledge III
iinnnce elii not dwell solely with The wise
mcn of Gotham. New York city, which
hnl been 10 clnmorous for specie rcsnmp.
tion, now seemed IL b. the liant h rc-
sppnd. IN conclusion, he argued that
the passage IL this bill would be 10 SGT.
tle onr finances upon sucl, 4 basis mn
would rclcgatc our financial difficulties
from the halls OF Congress. ~ the nnrts
IL commerce.
Mr.. Voorhees, then took the floor, and
read lengthy argument In favor u 70.
pcaling tile Specie Resumption net. Tho
amount of human misery, Indebtedness
anil yice which lhu law Ind caused could
not 10 estimated. II Ind oyerthrown
property values simply beyond the
power Of language 10 describe. Ten
thousand million dollars worth Of prop
erty has been absolutely contiscated.
Hi argued that the American people
had been educated on tie subject III
finances during the past i've ycnrr, nm
der snch circumstances AN breed revolt
ton, unless they were met by measures
of relief. The grcenhack dollar, ON NJ.
count ri the confidence tho people had
in ii. had forced itself upon equality
with gold. HI referred 10 the gold
room 81 New York IN mob of gamblers,
anil argued that the Government could
not redeem s5O, OOn, 900 with gold within
weeks notice from to-day. The
notes of the Government had advanced "
m equality with gold because the people
had forced the Government 10 treat its
own notes with respect There never
WAS the slightest reason Why the paper
money III this country should have he.
come deprecated. H. favored tho
adoption Or ali amendment compelling
the Secretary of the Treasury 10 receive
United States note. for dntics on i'm
ports, not after the lst Of October next,
hut Immediately. That wonll nj once
cqtAlixc our currency. 10 resume
specie payment on the lst of January
next made certain dark, perilous, and
unhappy future. The farmers had
mortgagcd their property, and II specie
nav ,cnts were resnin..l these mortgages
must be paid In coin. Il WIS tlic duty
of the American Congress 10 ~ iegislAtc
N 70 secure 70 the farmer his home and
10 the industrious mechanic living
wages. Tho toiliug milliona who arose
In the morning before light and worked
until after dark were constantly being
lectured Oh economy Wy uNcllera -
palaces, by masters u hired attend
ants. The poor were 10 give mp
lmxurics which they had not IN order
that the rich might have more. Fnr WAS
il from him ~ incitc the people. Int liz
would ~ al times vindicatc them against
tho aspcrsions u those who first up.
pressed and then denounced them. lie
referred ~ Communism, nnd said that II
was tho a.lvocMtes of extreme measures,
those who favored resumption ~ specie
payments, who fo.tered tlle spirit 81
Communism. III conclusion. he argued
that tho rcpcalof the Specie Resumption
law would bring light and hope - many
slarkcncd homes. II would cut the liga-
lures II contraction, aud activity anil
prosperity would revive. Nothing since
peace was Declared n Appomatsox thir-
teen years ago would bc hailed with
such shouts 81 glsdness. Popular r..
lief would iGsnre popular tranquility.
aud turbulence In tho labor regions
would cease.