The Leavenworth weekly times., 1878-10-03

The law authorized. instesd of burning the
money and re-funding the bonds, We would
have been spared the horrible spectacle OF
financial ruin which now presents Itself on
every hand.
But this has not been done.
By The public credit sct OF 1869, the en-
tire volume OF currency bonds, over fifteen
hundred millions in amount, which had
been sold by the Government at ALI average
OF less than sixty cents on the dollar, were
made payable In coin. BY that act the
people Of this country were deliberately
robbed OF an amount equal TO the differ
enoe between the price OF currency and gold,
which al the time Of the passage Of tie act
WIS twenty nine Fer cent, and twenty nine
per cent prof, on fifteen hundred million
dollars amounts to six hundred and thirty
five millions, which is substantially the
amount nsde by the bond holders in con.
qusr,c- Of the passage OF the public credit
act 1859
r H. wing this act came the funding bill
oi 1870, winch Was necs ssary in order to
g-t tie currency bonds converted into coin
b ms 'eiore the robbery should be di>cov
-Te4 aiG Il Government taken out Of the
Il ATS i lie i lends"
III tuNSSrsioiiN
ii Ii ii.,ss schemes OF plunder, the specie
resumption law OF 1879 was passed. Un-
der that law The work of contraction has
6 ne on, and is sill going on, until it has
.: duc,d an army of bankrup's, stretching
out in line IRON the Atlantic 10 the Pacific,
until it has paralized the industries Of the
people spread mortgages all over the coun-
try, and rendered homeless and destitute
thousands Of men, women and children.
Under this policy, our workshops are clos
ed; The fires in the furnaces extiugushed
produce sold for les than the cost of pro-
duciion, and taxes levied TO the point OF
coniisca;Ion.
Oar jails are filled full; peniten,iaries
oveI flowing; strikes OF common occurrence,
and an army of aimlsss tramps wandering
from pl.ce 10 place begging for bread.
What a contrast between the condition Of
affairs to-day and that Of the country from
1869 to 1856,
In view OF all the facts, need we wonder
at the disturbed condition Of society?
The only thing it sc. MS 10 NE to be won
nered at and admired, is the patient endur-
ance of the American people.
such a financial policy, followed with
such results, would long since have con-
vulsed all Europe, and razed Monarchies
to the ground.
But not 40 here. This is Republic and
in Republic the people have the power
within themselves to right their Own
aTonss.
Then ii We have the power, let Us be
men. and use it according TO our bert judg-
ment
Ii those in authority have taken the
wrong road, or started ON an expedition to
Moscow loo late in the season, let US call a
halt before our supplies are exhausted, and
return before an Arctic winter begins
We may reach resumption. and SO did
Napoleon reaca Moscow, but on arriving
there he found the city in flames, and the
products Of the-country in ashes; he found
himself aud his great army, at the opening
of a severe winter, stranded on the plains
OF Russia.
so too, will it be with us when We reach
resumption; it will have been over the
wreck and financial ruin of forty millions
oil people And even then We shall find in
resumption no harbor of safety. Like Ma
poleon at Moscow, we shall find ourselves
two ihounand miles from our base of sup
plie-, in The midst of desolation ard sur
rouuded by fiercely hostile enemy.
Resumption is cheat and fraud. Re-
sumo specie payment with one hundred and
fifty million of borrowed gold, while the
annual expenditures of the Government It.
self are over two hundred and seventy i've
mIlliuns.
X 'sune specie payment with one hundred
aud fifty million Of borrowed gold, and at
the ,Ine time hoard in the Treasury lis
,,,,,,, ,,on.r s,t,;.;, y, 20 -. a,J -
nm cssSfniiv tho ;UJns,,;a, 81 ~,
coun,rvr Tbe xboI. ,b;na i an ,bSnr5;,v
n n vsor;bv of fcons;Jar,,inn Nnon.Jauh;s
Inn, ,I.a, ,L. Lid S,a,ss 49, n,nna1
tIn,t and f,n,t a, mar in rotnms sua;
ion, ,o me-, ,h, J.o,pa, 81 rad. ;f ,n.Js
!, f,,II I,o,I ,e,Js, hu, ,n.r. ,,;,.,oa -
borrnxe,i onIJ bosr5ed in tb. Tr.,.nrv 90
, h. Al. will no, ada ono f,,,h;nr 10 ,hs
v,ua of such monsv Tbs Srnran. 90,
,f rho Tn;,eJ S,.,aS s.vs ,b., r. s,.n ~
he C;ovsrnmsn, m,Lss monev and ,b.,
A, cision i. b;,d;r, Oh. d.cI,ra,ion ~
l, .pdbSI,Iars 40 ne, con,r,rv no,,v;,h.
s,srG;ng
Tho General ,,verru.n, L,s III. rich,
,nJar ,Ss cnns,;,,,,on 80 co;n ,n.i or.,,a
ma nov and !, ia Tho an,v nf tho ooysrn.
non, :, e.srciss the T;ebt bv ;.suiny the
money dirsc, from thr Treasury and No,
,r J.,.a.,;n, ,b. .,,bor;,, 90 N.,;anoI
E,nIs When this ia done and tho nresan,
financial noIicy reversed The snecie resnmn.
;nn law and rho V,,;on,i R,pL in, 40, ~
,e,led government bonds contr,c,,d and
,r,enbacts a1n.nJs5 GOLD s;lvsr and
r. ., backs placed on an e1naIi,v before Tho |
aw. free cn;naca and circnIation If siIrs,
he same "a cold ard the volume of bn,b
sr,,;dIv "a the bnlIio, j. nrn-
Iuced bv our mine. or can b. pnrcb ,sad ~
,dvantaye with money. ,bs voiume of
,reenb ,cks increased un,il the whole vol.
,me of money agyrsg,,es the ,monn, ,.r
onjt, in c;rcnIa,ion from 1867 IN 1850
rs,sad II ,.csss,,v and ~. bonas I'D 'F
n lawful monev-sccordin n ,b. Letter
md snirit of the J,w-nn5er which tber
rsre ;ssnsd tben will bns;nes, corf,,snc.
70 ,ss,o,eJ tho ;rdns,,;.s nf Tho cnnn,,r
eviysd :. fres in the furnaces rs-L;udi.d.
rorks sbnns re-opened. the armv Of ,r,mn,
mustered ont Of service and the rssources
4 the conntrv dsveIoned
H.rs we have aY,epd;no from tho N;s-
issippi to the ROCKY MoSntains and from
S