The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1878-01-30

II
ing community and population o.
he whole earth, 696, 100000 more
| people have silver coin as their
standard of commerce, and transact
all their business on it as a specie
oasis, than those who have gold
alone for similar purposes. 754,
zoe. 600 more people use silver alone
than use gold and silver as metallic
currency. Referring to the specie
resumption act of Jan. IA. 1875, he
said an attempt to force the re
sumption of specie payment with
gold and silver both as our metallic
basis would be a cruel failure at this
time. He spoke of the great shrink
age in values arising from the
shrinkage of money in circulation,
and said it was the Immediate
cause of that general bankruptcy
and ruin which had now fallen upon
The land. Ii the policy of this gov
ernnent had been to infiict the
greatest misery on the greatest mum
Der, its success has been complete.
lie was not an inhationist in any
sense OF that word; it disturbs tie
true interest of trade and commerce.
During the whole four years of 1868,
1864, 1865 and 1866. when the
strength OF. our currency averaged
over thousand million, the business
failures of the entire country reach
ed 2, 167 less in number than oc-
cured in any six months of the
year just closed. Daring the con-
diLions. which is now stigmatized a.
one of imitation, the windows of bus
and business men did not go as
mourners about the streets. The
laborer did not go home without
means to his wife and children /;
hel pless millions did not cover and
trembIe at the approach of winter
for the lack of food and shelter. The
public peace was not broken by
riots ia resistance to starvation
wages. The courts were not princi-
pally occupied in the enforcement
of collections. foreclosing mort
cages, ordering sheriff. sales. or in
cast. These are some things which
did not take place others which did
are equally striking. Good wages
and good prices strengthed every
laborlng mans muscle, every busi-
ness mans brain, and every powor
Of machinery into the highest and
most productive action. Hope and
encouragementwere in every heart,
new farme were bought and cultivat>
ed, new work shops were opened,
new manufactures established,
new mines of iron, coal and silver
were sunk in to the earth, whose
contents in return assisted in the
glad work of an universal, individu-
al and national prosperity. He urg-
ed that there is not dollar to-day
in the hands of the people on which
they have not paid tax for the privi-
lege of having it put in circulation
by the Government. The National
Bank is middle man between the
Government and people. and is
enormously paid for doing what the
Government ought to do directly it.
self. He spoke of the evils of the
national bank system. and said if
the national banks we're blessing.
then our public debt was blessing,
for debt supports banks. la con-
cluding, he said for those whom he
spoke demanded the restoration of
the silver dollar and its unlimited
coinage, not fearing that it would
become too plentiful, ana tnat 1t be
made full legal tender. Second.
they demanded the repeal uncoudi-
ti0nanly OF Tie specie resumption
act of January Il. 1875. Third,
they demanded that the national
banking system be repealed, and a
circulating medium be provided by
the government for the people with
out taxing them for the privilege of
obtaining it, and they asked that the
amouRt thus put in circulation
should bear a reasonable and judi
clous proposition to the business
transactiens and population of the
United States. Fourth, they de
mand that the currency authorized
and circulated by the authority of
the governments shall be made a le,
gal tender in payment of all dues
public aAd private, including all
dues to the government. Fifth,
they demand that hereafter the finan-
cial policy of the country be framed
' permanently in their interest; that
they shall not be Disseminated
against in future legislation as in
the past. ~
F. Always speak we'll Of the dead,