The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1878-08-08

action did the Republican senate take
on these two measures of relief rendered
by the House2 1t is true, that, after
protracted struggle and memorable de-
bate, the bill for the restoration OF the
silver dollar was carried through that
body by distinct majority. | am not
disposed TO deny to Republican Senators
who supported It the credit which is their
due nor shall / defend the course OF the
few Democratic Senators who opposed IL
When the bill, however, was presented
for thesignature of the Executive, guided
and inspired by that architect Of ruin,
John Sherman, and upheld by his entire
Cabinet, he returned it with his veto, thus
defying as powerful public opinion as
was ever developed on any question 10
this country. An Endorsement of this
Administration is an Endorsement OF this
act, as we'll as of the general financial
policy of Secretary Sherman. Gould the
Administration have enforced it's wishes
the coinage of the American silver dol
lar would never have been resumed, and
this favorite money would have been
forever banished from their midst. Let
it be borne in mind that the silver dollar
was restored in spite Of a Republican ad-
ministration, and that its restoration or
iginated in the Democratic House. The
bill for the repeal of the Resumption
Act Jared much worsei in the Senate than
the Silver Bill. 1t was compelled to re-
main unnoticed and unConsidered on
the table of the Finance Committee of
that body more than five months. 1t
was with the greatest difficulty, and only
by persistent effort, thatit secured atten.
ton at all. 1t was finally defeated in
Committee, and a substitute adopted in
its stead. Even the substitute, which
contained some measures of popular re-
lief, was a long time denied hearing in
the Senate after it was reported to that
body. Upon a test vote between the ad.
option of the substitute and the bill as it
came from the House, the substitute
eventually prevailed by one majority,
thus defeating the repeal of the Resump-
ton Act in the Senate. The fact, there.
fore, should be constantly borne in mind
that but for the action of the Senate, the
Resumption Act would not this hour be
standing as a fatal threat to the country,
the banks would not be boarding their
circulation in fear of resumption, and
prosperity would be springing up about
u, Does some one answer that, not
withstanding the failure to repeal the
Resumption Act, prosperity is returning
to the country2 Is there any one here
who has been deluded by that false as
sertion so often heard, that the worst is
over, that the bottom has been reached,
and there be no further depths of bust
ness calamity to fathom, we must neces.
sarily be emerging into better condi-
ton? If 80, let me call his attention to
the dismal bankrupt record of the Uni
ted States during the last six months.
By the report of we'll known mercan.
tile agency in New York we are furnish
ed with the following instructive state.
ment of facts:
During the first six months of the year
1875, the business failures numbered g.
563, having liabilities to the amount of
SIG, ,344 1885, During the first six months
of the year 1876 similar business failures
reached 1900, leaving unpaid liabilities
to the amount $l0S Ais 429. During the
first six months of the year 1877 those
who failed in business numbered 4,777,
and their liabilities reached the sum OF
500, 9,606,l71. But the first six months of
the present year, 1873, are darker than
all their predecessors, During the peri
cd from January to July, the present
month, 5,S98 business men have been re-
duced to bankruptcy and the debts which
they were unable to pay reached the en-
ormous sum of $l30,S32H6. The imagi.
nation of man in its highest development
can form no adequate conception of the
sorrows, the bitter, hopeless tears. the
agonizing sobs of grief, the sensations Of
despair, the broken hearts, the blighted
lives which these dreadful figures repre-
sent. No merely those who appear in
this statement as bankrupts are borne to
the earth by misfortune. Laboring men
and women who are dependent upon the
of business for an opportunity
to earn their bread have been made to
drain their cups of misery in silence. No
herald proclaims the sufterings of the
humble poor; the Scribes and PLarisees
pass by on the old side. "In the mad
and determined effort to reach what is
specie basis how few even
pause to reflect on the awful penalty
which the people have been forced to
sufferin order to attain that object. How
ever desirable an object may be; however
much the humble heart may long for
what it Conceives to be great good, yet
there may be sacrifices 80 horrible requir-
ed in its pursuit that they would render
that good an unmixed evil. The resump-
ton of specie payments has been pro-
claimed the height of American states
and yet to attain it the prosper
ity of the country has been trodden into
the dust,and battered out of all shape and
recognition. The poverty, the desola.
ton, the indescribable sorrow of private
families which this policy has cost can
never be expiated nor will those who
have fastened this policy on the country
with its broad track of ruined lives ever
be forgotten or forgiven by the American
people. The servile tastes of the East
Indies with blind and ignorant faith
worship the Juggernaut and feel no re-
when mangled and crushed by
their hideous deity. 1t is not 30, nor will
it ever be with the American people.
They will not worship at cruel, heart
less shrine. They will rather teach their
children, and their Children's children,
TO execrate the authors of their misfor-
tunes."
The contraction of the currency being
the fundamental cause of our general bu
siness depression, the Democratic House
Of Representatives, during the last ses-
sion, originated and passed bill prohib.
ting the Secretary of the Treasury from
canceing or retiring another dollar Of the
greenback currency from whatever source
received into the Treasury, and compell-
ing him to reissue the same for Circula'
ton. The wholesome and just measure
finally became law. 1t passed the SEN
ate under the management and control
of Democratic Senators. This law, it is
true has been slow in coming, but it is
equally true that it would not have come
at all but for the ascendency Of the Dem