Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1878-01-22

In logic and law
1t is nick or be nicked;
In gambling and trade
Ii is trick or be tricked;
In treaty and war
Ii is beat or be beaten;
In the struggle for life
Ii is eat or be eaten.
The Great Speech of Senator
Dan Worries on the Sill
yer Question.
WASHINGTON, Jan. 15.-The gale
ries were full and all the vacant space
in The Senate Chamber was filled
when Voorhees,, Of Indiana, called up
the resolution submitted by him on
the 18th of December last, declaring
il is of the highest importance that
! the financial credit Of the Government
he maintained, and in order TO do so,
the Government itself in all its De-
partments should. in good faith, keep
| all its contracts and obligations enter
ed into with its own citizens. He re-
ferred TO the continued agitation of
the financial question, and said 1t
would never cease till the people are
satisfied that their own voluntary
debt is in process of extinction on the
principle of Justice TO the tax-paying
laborer. or until, OH the other hand.
they are subjugated into silent sub
mission, and the government itself
becomes changed in spirit and form
into a monied aTistOcracy. 1t may be
that this latter alternative is to over
take US. Their are dark and plenti-
full omens in Our recent history indi-
eating such q conclusion, and there is
q numerous and powerful class in u
midst who believe az Alexander Ham
ilton declared, that the British Gov
eminent on this, as well as on other
points, is the best devised by the wis
dom of man. Those entertaining
this opinion have thus far tliumphed
in the financial legislation of the Uni
ted States, and the time has now ar
rived when these victories must be re-
versed, or soon this government will
cease to be republican, and the people
no longer be free, He argued to q
great extent that u whole financial
system is q Tuinous crime against the
labOring and 'aX-paying men and wO-
men Of the United States, and those
who thought as ne did, that the great
work of financial reform is demanded
in order to secure the people from
starvation in fact aud not name, were
denounced. lie spoke Of unhOly ava
rice having its stronghOlds and privi-
legged classes having entrenChed them
selves, and said this plea of good faith
now 90 loud in our cars, has been in
yoked in behalf every w|ickedness
that ever cured the world. He then
spoke OF The act of Feb. %, 1862, as
the beginning OF OuT bonded debt
The precious metals were found to be
Inadequate to tue emergency Of the
war. specie payments were abandon
ed as sOOu Us the hour Of trial came
and gold and silver covered in the
rear while the legal tender dollar went
to the font with he flag and stayed
there. lie wac among those who
doubted our right 70 issue it, but eX.
perienCe had shown il, all things con
sidered, the best money that ever cir
culated on American soil. He argued
that by this act. and by similar legs
latiOu at subsequent periods. the bonds
issued by the Government which did
not on lis face promise for payment in
coin, was made payable by the express
words OF law in legal tender notes.
He quoted from the language OF the
late Tnaddeus Stevens to the effect
that even the payment of interest on
bonds IN coin was an OdlOus and un-
Just discrimination in favor OF bond
holders. He also quoted from the
speech of Senator Sherman to show
that he expressed the opinion that the
bonds were payable in legal tenders.
Mr.. Voorhees, characterized the acts
of Congress proposing to pay bonds
in coin as the beginning of repudla-
tiOn-for the present Secretary of the
Treasury was the chief of repudiatOrs,
foremost among the violators OF the
contract, and a leader among those
who haye in no wise kept the good
faith of the government with its W
people a moment after they had found
that bad faith would bring them rich
gaips. He commented at some length
on the act of 1863 to pay bonds In
coin, and said in some countries the
habit prevailed of building a pile of
stones to mark the spot where tragic
events had happened 30 let the
American taxpayer, whenever the
act of 1869 is cited, cast a stone on 1t
to mark the place in American histo-
ry where reputation began and where
the rights of the people were merci-
lessly and treacherOusly slaughtered.
He next commented on the repudia-
ting act of July I4th, 1870, and said it
was brought ia to aid the false asser-
ton Of the act of 1869 that our whole
bonded debt was payable in cOin.-
He urged that both of the acts were
framed in the interest of the bond
holders. and under their direction
But even under these acts, bonds were
payable with either gold or silver coin,
and not payable with gold alone
Mr.. voorhees, then spoke at some
length in regard to the advantage of
silver coin, and said the silver dollar
came to Us with the faith of our gov
ernmcnt. 1t was devised as a unit of
value by Thos. Jefferson, and adopted
by Congress in the days Of Washing
ton, Hamilton and Norris. II stood
az much-honored as gold through ev-
cry storm that beat on this govern
ment. 1t is associated with all our
development, our strength, our growth
and our glory. He then spoke OF the
act of 1873 demOnetiZing il, and said
it was passed without a note of warn
ing to the American people that their
favorite coin was about TO be destroy
ed as money. It's enactment was as
completely unknown TO the people,