The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-20
THE SILVER BILL.
sKNAT0E voORHEEs' GREAT SPEECH
ON THE FINANCIAL QUESTIONS
or THE DAY.
n Full History Of American Finances THE
old u yer Dollar--The Trade Dollar
The AsIege0 over. production of silver

old u yer Do1lar~-The Trade Dollar
The AsIeged Over.Production Of silver.
Mr., President on the thirteenth of Deoember
had the honor to introduce In this body the
following resqlution:
that the financial credit of the government be-
maintained. and !. In order to do SO. Che govern
mem itself IN all its departments; should In
entersd into with its own citizens.
And IA pursuance OF notice then given, =
now call IL w for the purpose Of discussing the
The agitation OF
THE prsAsH QUESTION
has continued without moments intermission
from the commeneement OF our present sys-
for many years TO come. In fact il will never
cease until the people are satisfied that our vast
n PnSP ass
Enisslon and The eovernmsnt itself beco ms
aristocracy. Il may be that this latter alterna-
tive is to overtake us. There are dark aud
gensu ac Sens u osr recent cen history nd
bsieye. as Alexander Hamilton declared, that,
oi6sr points best ever devised b. ne e, vi Is
dom ot man. Those entertaining THIS opinion
haye t y ,b Tar rH%pbsd In the
: now arrived when. their victories m nat b. re-
rser s 2r soon this government will cease to
~ ;rnepuDiican ana the people no longer be free,
Inc pollcT OF this victorious interest in klis
country, as IN all others, has been vgilant for
opportunities Of greed and gain. and aggres-
r. ae r Swn n afyn
mas during the last sixteen years. pressed its
cruel ana unlust demands upon the American
assumes manner swollen with arro mum
t nsushaty II defiant and gled with insolence
gisdain Tor such as choose to remember that
sPSr h has r !, which this government is
Sir. appeal to the history of
our FINANCIAL riDarsLAT1oN.
4 challenge lite solemn records for iudpm ant
AGAINST the actual repudiators Of national faith
snd nSn9 , is pages contain the iects the i'm
, yiex them, The oct q February q. isea.is The
METALS were found to be uneunal 10 the emsrs 1
eancy OF war. Specie payments were abandoned |
81 a. sooH as The hour Of trial came and gold aud /
tender dollar went to the front with the flag and
s ssa there. was among those who doubted
Guf sE Esat g sse It but experience has shown
n ,s,,d February lsoa. and By similar iegfs.
moi On rs lace s senIaee for wh ravm dig
AZ coin was made payable by the express words
written In the statute. tkas these notes. now
known as greenbaoks. shall be receivable in
R 2slkMcnt Oh al taxes Internal duties excise
United states except duties on Imports and of
sii claims and demands against tho United
c 81 Bonds k ana mss eTcept G
ln ooin and shall also be lawful money and
,sga sense5 10 payment q a debts public
% imports and interest as aforesaid"
This simple. explicit aud at the same time s.
s1mpTsRensise enactment , . guaranteed to the
d their national debt ia national ourrency' n $
W. M t me law Of the Contract when ali the
.are ponas: amounting t9 over
ne bondholders, and paid for ia this currency
y par. when It was quoted &C from 10 to 60 per
he law to DO as have stated il at the time Of he
Sssther the p q q ths bonds
February IS arst passed tie House vit is ot
srs in T sa , ssaas e the SS
gnen the oct. thus amended, was returned to !
nHnss v q stSe soSS IT. ss
he second session Of The Thirty seventh Con- 9
o. Mad Nsv '9 Ya viii show tha both
I Pennsylvanis, the leading members Of the
Committee on Ways and Means. and one It's 4
hartman. united IN denonncing the Senate q
erms. They commended in stern and deters y
aimed LANGUAGE that even the payment Of in y
ercst IN coin was an 0di0us and unjust dis -
Elimination In favor of the bondholder and a
gainst the soldier, the sailor, and the citizen y
rho were compelled TO receive che legal -tender VI
l,rrency, greatly deprecated by this very dis
No one BY . single word in that debate made " "
,e slightest pretense or intimation that the ~ .,
urnRe The a tepm ws pabe Ia coin
lat followed there is not platform OF either n,
olitical party In any state Ia the Union.which +
OBSTRUCTION OF the law In behalf of the hand | :.
older ever fell from the lips Of a leading MEM m n
ny o IL SSSr ri the
z the contrary. IL nany States and notably in n,
~ of the Treasury the dominant part H1f IN e.
,,s state convention In 1858 expressed its M
s0eE aMs snaeE Yhc that according
,nds were issued said bonds should be paid in ne
. currency Of the country which may be legal fa e
rad seh en- sba be
resent Chief Magistrate and his Secretary took SO
elr stand %, only nine years ago. and told the or
,opie that the doctrine was true. Not only SO,
SECRETARY SHERMAN. 81
10. now in his recent report warns us ay,irst
pudiation. then gave In a letter, dated March ira
l ss and widely published his idea of what OF
UNITED STATES SENATE CHAMBER We
Washington. March 80, 1888, t hn
bos1s ~ WIS gao 20 receive your letter -
y IKE {2u. DO not intend to be infuenced sii,
y "a careful examination. and feel quite drol
s. an impartial court would confirm It II the an rI
70 should be tried before court. Isend Won ane
views. q fully stated In 9 speech. Your ice ic
,miee when we offer n radaana th y. S,ohte pre-
" sgal tenders 4 erroneous thlnk the and
les TO take the same kind Of money he mid OF
'ne bonds II the ease Is to be tested by the nHe
o 2. advertisements, + am wrong. I hate ,0 a.
W. ha or anything like It. hat we Ought 1910
neSSeT .m ePithsts T. under The law as It for.
Ia m rri5 me ~ ~ sSIye,yWenuese can only be rep
kfnacf Sro Io yonuaouer can deY1and only any
tor ana sx,nrt; d no paiu, then ne lie repu- B,
uable thsn ha ravs 70 demand moray more tens
Truly yours. JOHN suEpKhr yer
IN, ~! step the systematic violation ~ reas
3. ~ oWn citizens by the AmeI- had
! ~ woe 4ktA In the enactment OIL q
~ Wy ~. lsio Known as the act for re- Had
nm ~ ny nailonai uent The motive which rs
oX1OEnu hua alv |