The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1878-01-16

| whole earth, 646 250,0o0 more ipeople have
silver alone as their standa q of value aud
| transact their business upon it as a specie
basis, than those who have gold alone for
similar purposes, and 754. 200 900 more peo
| pie Use silver alone than use gold and silver
both as their metallic currency. Returning
| 20 the specie resumption act of January IA.
| 1870, he said an attempt TO force the resump-
ton of sp cic payments with gold and sill
Yer Doth as our metallic basis would be a
failure at this time. He spoke of the great
snrinkage In values arising from the shrink
| age OF money in circulation, and said it was
| the immediate cause OF that general bank
| ruptcy and ruin which now fills the land
LII the policy of this Government has been To
infiict the greatest misery on the greatest
number its success has been complete. He
said he was not an infiationiSt in any sense
shat would disturb the true interests of
trade and commerce. That during the
whole four years of 1868 to 1866,
when the volume OF our curren-
cy averaged over a thousand million
dollars, the business failures of the entire
country reached only 21,770 less in number
than occurred in any three months of the
yearJ just closed. During the period which
is now stigmatized as one of imitation the
windows of business houses were not dark
ened, and business men did not 90 as mourn
ers about the streets; the laborer did not go
home without bread to his wife and child
rem; helpless mothers did not COVER and
tremble at the approach of winter tor the
lack of food and shelter; the public peace
was not broken by riots in resistance to
starvation wages; the Courts were not
principally occupied in enforcing eollec-
tions, foreclosing mortgages, ordering
Sherifs' sales, or in Furnishing the desti-
tute and the oGtcast. These are some
things which did not take place; others
that did, equally strong. Good wages
and good prices stimulated every
lahnrinU mans fnuSola
mans brain, and every power of machinery
into the highest and most productive activ-
ity. Hope and encouragement were in
every heart, new farms were bought and
cultivated, new manufactures were estab-
lished, new workshops were opened, new
mines of iron, coal and silver were sunk
into the earth, whose contents in return
sisted in the glad work of an universal, in
divdual and National prosperity. He ar
gued that there is not a dollar, to-day, in
the hands of the people on which they
have not paid tax for the privilege
of having it put in circulation by the
Government. The National Banks is the
m iddle man between the Government and
the people, is enormously paid for doing
what the Government ought to do Itself.
He spoke of the evils olthe national banking
system, and said that il the National Banks
were blessing then our public debt was IA
blessing. for the debt supported the banks.
In concluding, he said those for whom he
spoke demanded the restoration of the silver
dollar and its unlimited coinage, not fear
ing that it would become too plentiful, and
that it be a full legal tender; second, they
demanded the repeal unconGitionallv of the
specie resum ption act of Jan IA, 1875; third |
they demanded that the national banking
system be removed and circulating III ediums
provided by the Government tor the people, |
without taxing them for the privilege OF
obtaining it, and they asked the amount
thus placed in circulation should bear a
reasonable and judicious proportion TO the
business transactions and to the population
of the United States; fourth, they demand |
ed the currency authorized d and circulated |
on the authority OF the Government, shall |
be made legal tenders in payment of all
debts TO the eGovernment; fifth, they de-
mand that hereafter the financial policy
of the country be framed permanently
in their interest that they shall not be
Disseminated against in future legisla
tion as in the past, and that their prosperity.
and not the mere growth of income TO re-
tired capitalists, shall be the primary duty
of the Government.
In the House the proceedings were brief
and Of no public interest. A speech in favor
of the reconciliation of silver was made by
Mr.. Price of Iowa, in which he ridiculed the
pretensions of the Revs. Messrs. Beecher
and rockingham to set themselves up
as lights and teachers in the paths of science
and finance.