Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1878-08-03
SENATOR VOORHEES,.

We present below the concluding
words OF Senator Voorhees, great speech
at South Bend. Its length prevents its
publication in full this week, but WE shall
endeavor to give it all to our readers
soon.
"In summing up. therefore, the
work OF the present congress. the
great fact plainly appears that the
democratic house has originated and
led in every measure which the people
have demanded for their relief. 1t is
also true that the democratic party. aid
ed by a few republicans. and still more
by IN aroused and concentrated public
opinion. has given the hitherto arrogant
and i~nsolept money power its first stag
gcring blow in the Legislation OF the
country. Some progress has been made;
some good has been done some steps
have been taken in the right direction.
and they will not be retraced. The peo-
Pile are at last aroused to their danger
and their rights. They intend to reform
u financial system. and place it in har-
mony with their own interests. They are
alive to the fact that an active and de-
termined conspiracy is at work to bring
our government. through the power of
capital. into harmony with the institu-
tons of Great Britain. They behold the
dangers which threaten their ownerships
of the soil. the title to their homes. The
scarcity OF money. produced by the pol
icy OF the government. has compelled a
large portion OF the farmers. especially
of the west. to mortgage their farms to
eastern loan associations, in order to OBJ
tain 4 currency on which to do business.
1t is the plain constitutional duty OF the
government to furnish to its people q
circulating medium equal to their bust
ness wants. But instead of doing thls,a
policy las prevailed which has driven
the land owners of thec country to the
counters OF usurers and mOney-changers
to raise money or the title-deeds to their
homes. 1t has been estimated hat the
loan associations Of the east hold mort
cages Tor western farms to the amount
of 5000. OO0, 900. | believe this to be
an uude- instead of an over estimate, and
on this vast sum of borrowed money the
rate of interest Is not less than ten per
cent, making an annual drain on four
or five states in the Mississippi Valley.
OF over $4,000. 900 per annum The
mind retoils from the terrible results
which must follow this condition OF at
fairs. len per cent interest will as GER
talnly bankrupt a farmer. a merchant or
4 business man of any description. who
is engaged in a legitimate business, as
fire will. burn the dry stubble OF the
fields. The grasshoppers of the plains
are not more destructive to every green
and growing thing in their reach than
ten per cent. interest is to the life of
business. The jewellers in Egypt could
far better endure all the scourges sent
upon them-locusts. lice. frogs, darkness
and the plague-than the laboring, bus
mess people of the Mississippi Valley
can endure ten per cent. interest on their
debts. 1t will suck their lite-blood to
the last drop, and leave them as tenants.
paying interest to district landlords,
where they are now owners in fee-sim~
Pile. ] earnestly believe. and hope that
these great and awful facts are sinking
deep In every intelligent mind in the
land. The seeds OF financial reform have
been sown broadcast. and they are
springing up in every direction. l be-
lieve and hope that q work has been
commenced which will not end until the
government in its dealings with the
people on the vital questions of finances
and taxation. shall be once more q gov
ernnent OF the people"