Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-26

men by the million are driven from home to
hunt bread, and those who remain at home
are parting day by day with their household
goods for bread, they cease to be good citi-
zens. Cheerful obedience TO law need no
more b. expected than honesty among giu-
sizes. The inevitable and logical successive
events in Mr.. Sherman's policy are first.
general and long protracted distress. Second.
resistance to constituted authority in the
struggle for life. Third, a great standing
army to suppress and keep down the law
breakers. And fourth, a change in our
government. While this terrible tragedy is
being enacted, | do not propose to help it on
by loading down the people with local taxes,
even TO pay the bondholder who, under diff
ferent circumstances, would be entitled to
his money. The question between untaxed
interest bearing capital on one side, and
taxable property and labor on the other,
as now presented, under the manipulation
of John Sherman, threatens to result in
terrible shock Combined capital has so Of
ten oppressed the people that they continu
ally live IN dread of its power 1t is difficult
to find legislative body anywhere that has
not felt its power. When l entered the Con-
federate congress found combined capital at
work. | was put on the committee of ways
and means, aud almost the first thing In or
der was a report signed by the entire COM
mittee, except myself, substantially relieving
corporations from taxes. A minority report,
signed by myself alone and a determined
fight, resulted IL taxing them as persons
were taxed. After the war closed, and in the
great struggle for civil supremacy, combna
tons under the manipuiations OF capital got
control of nearly all the cities Of the United
States, and IN a few years a bonded debt in
one hundred and thirty one cities was in
creased from $220,000,0 900 to $3.50, 900 900.
New I ork owes more money than twenty SIX
lear IISh
Liverpool and Manchester. Nashvi lie at one
time fell into the hands of the plunderers. Ii
was to fight the New York pressure on the
Tennessee Legislature that | became candi-
date, when vacancy occurred, at the
called session. In the history of the
whole world no such effective and
dangerous combination OF capital was
ever formed as now exists In the United
States. The national banking law, which Is
upon its face the death warrant OF real estate,
with government monopoly In credit to the
bondholders, Is the groundwork. Gder the
operations of this law, connecting the most
extensive banking system ever known under
one charter, with the government, the entire
money power, dangerous even when distrib
uted among those who won 1T ln an open
fight, is concentrated and brought into willing
co operation with the secretary of the treas
ury. Being the dispenser OF blessings to the
bonded poWer of the country. of course this
vast power also stands by the secretary OF the
treasury. The mau who yields this power
at present, 1t turns out, Is corrupt, and,
as was proven only the other
day, is implicated in fraud which is
TO disgrace the whole American people. This
great money combination had laws enacted
giving the people paper money and them
selves gold in the way Of interest, and then
changed the contract so as to make the prin-
cipal Of their vast debt payable In coin, and
then another change as to make 1t gold.
They had the President veto bill, enacted
at the instance of Senator Morton, giving the
people some relief. They had taxes removed
from incomes and put productive indus
tries. 1t is well understood that this great
money power, in its conflict with the people,
stands ready to use money wherever q service
is worth paying for. The New York Tri-
bune, the Times, the Herald, the World and
the Sun have all heen brought under its IN
fuence. We had a pltiabie sight IN tennessee
during the contest about the State debt In the
called session of the legislature. The editor
of a little paper in Tennessee having heard
of the free use of money by the bonded pow
ef, became so reckless that he went about on
the streets openly proclaiming his readiness to
do service for the bondhoider If he could be
paid five thousand dollars. In view of the
frequent use of money to control legislation
the people should look we'll to the election of
representatives.
Colonel Coyar said that he should proba-
bly, be before the Democratic State conven
ton for its nomination for the Office of gov
ernor, and he had adopted this plan OF meet
ing and discussing these great questions be-
tore the people from the convection that it
were far better to enlighten them before than
after the nomination should be made.
Heretofore when one became candidate for
governor he merely visited few prominent
points in the State, and consulted with few
leading citizens, and when the convention
met he was nominated; and afterwards the
candidate would discuss the questions of
party policy before the people. But the
great importance of the issues involved IN
the next canvass, and the conviction that no
relief would come until the people were
aroused and instructed, had induced him to
adopt his present mode of making known his
views upon all questions OF State policy,
to the end that when the people met, IN prl-
mary conventions, they might make known
their wishes, and instruct those who should
be chosen to make nominations as TO their
demands for present relief from intolerable
burdens. If he were governor now, he would
issue a proclamation asking the people to
meet and express their views on the financial
and demanding a change OF the |
policy of the government which should afford |
them adequate relief; and in this way such |
Il sentiment would be created, and chord
touched. that would be most cordially reclp- |
cocaleu Dy all Lne peOple rom OuO Gnu Vi TIC
Union TO the other. And he was frank TO |
say, that If elected governor, ne would not |
give unnecessary sleep to his eyeids. nor per-
NIT any member of the legislature to sleep, IT |
he could prevent 1t, until some measure had |
been devised for the relief of the people of |
Tennessee. And he advised that no man be |
chosen either for the legislature or the congress
Of the United States who did not have deeply |
in his heart this great question of the great |
wrong done to the people in fist destroying |
their currency. and inficting distress and de- |
strnction, and almost starvation, upon the |
great mass of the working people of this |
country.
At the close of the eloquent gentleman's |
remarks loud applause followed. and num- |
oers Of citizens went forward and congratu- |
ated him. 1t is said that an effort will be |
made to induce the gentleman to remain |
lere few days and repeat his speech before
| laraer andlence.