Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-03-21

IN any other year Of our previous history. The
mean annual consumption of tea in the Untef
states, which was 100000 pounds in the
decade ending with 1850, was 27 600 0oe
pounds in the decade ending with 1850. Thi,
CERTAIN ly is an indication that the people haf
netting to buy with
From 1881 to 1851 the cotton crop of III,
United States ranged from ono million to tw,
ana one-third millions of bales per annun. In
the year 1860 it had risen to the enormou:
crop o. 1910, no bales; almost million NOR,
Daies .hen were ever grown in the United
states IN any previous year of our history
hnd from the census reports that in 1850
our wheat crop was 100000 bushels, and
III 1901 It was l73,000,000 bushels, in 1856
we raised 592 100000 bushels of corn, in 1866
ooo,OO0,o0O bushels, while in 1870 we raised
out I6o, Ooe 900 bushels. The crop of 1860
ana three hundred and fortY-six millions more
than that of 1850. And so with several other
OF the great cereals. The crop of barley for
1907 was three times that of 1850. The crops
OF rye and buckwheat in 1860 exceeded those
OF 1870 as well as those af 1850.
III 1900 the value Of the American farms
was three and one quarter billions of dollars
IN 1860 1t was S6,645, 100000 bv the census,
an increase OF i03 per cent, while the popula.
ton increased but 80 per cent during that
decade
Inc value of farming implements i'm 1885,
was Sl5l, 100000; in 1860 it was two hun
ana iorty-sX milliOns--an increase of 10 per
cent. while during the next decade it increas-
ed but az per cent. From the statistics OF
manufactures given in the census | find that
IN 1880 nine hundred and flfty-seven thou
sand hands were employed; In 1860. thirteen
hundred and eleven thousand. Iu 1850 the
products OF manufactures amounted to $553.-
ooo, 900; in 1860, 81 ,009, 900, 000-an increase
OF 30 per cent, while the population increased
out 80 per cent. The products of our manu-
lures increased in tina: decade 1870, 00o, 900
but the gentleman tells us it was year OF un-
usual distress
ne spoke OF the condition of the iron inter
est mat year. Let me tell him wha. the iron
and steel associations say in their report far
1877 l find on page % that in 1860 there
were brought from Lake Superior to our mi lis
IN the East 10000 tons of ore, 81 thousand
IONS more than in any other year of our his
tory
On Page az of the same report learn that
the production of anthracite coal in Pennsyl-
wanna IN 1860 amounted to $780,, 900 tons. al
most SOo,000 tons more than in any previous
year.
On page IL of the same report find that
tae productions of btuminous coal and coke
Tor 1860 amounted to 1922 900 tons, which
was 5o,O0O tons more than the greatest pro-
aact OF any preceding year. And how much
pig'iron did we produce that year? Iquote
from page 3O2 of the volume of speeches and
addresses by William d. Keley-a speech
mace by him here January IL, 1870, in which
ne gives the product for seven or eight wears
ana according to his speech, in the year 1860
sne total product of pig iron in this country
wa $4,000 tons more than the average Of
the SIX preceding years, yet he holds that the
year OF 1860 was one of unusual distress.
This is an old debate between the gentle-
tieman from Pennsylvania and myself; de-
bate that we had eight years ago, when to
Justify his extreme views on the TARIFF (which
l do not hesitate to say have done the cause
oil real protection more harm than the doc
trines OF the extreme tree-'raders) 1t was
necessary for his argument to make it appear
mat because when we had a low tariff, 1860
was year ofgreat distress.
We can find ample ground for the sufficient
protection OF American manufacturers with.
out distorting the history of our country. The
gentleman's position lays him open TO this
dangerous reply, that if the low tariff and IN
sufficient volume of currency of 1860 caused
the alleged distress Of that year, how will he
account for what he admits the great distress
OF 1877, with much higher tariff and three
times the currency of 1860.
The fact is, Mr.. Chairman, the decade from
1880 to 1e6O was one of peace and general
prosperity. The aggregate volume Of real
and personal property in the United States in
1890 was, In round millions, $7,l35,090, 900
in 1860 it was SIG, 1853 200, 900, an increase OF
I26 per cent, while the population increased
but 80 per cent, Yet to suit theory of fl
nance we are told that 1860 was year of
great distress and depression of business equal
ed by the distress OF The present year.
l hold that the facts have recited estab-
fish, in so far as anything can be establish
ed by statistics, that The year 1860 was year
not only OF general peace but of very general
prosperity in the United States; and the fact
that there were frostS in some fields the wear
before, sheriff's sales in Philadelphia, and un-
employed laborers near some OF the mills, not
only does not overturn the proofs have sub
mitted, but these proofs show how limited
were the disasters of which the gentleman
speaks. On this first point which the gentle
man made againat me he spoke forty minutes.
His second point was to deny the correct
ness OF my statement that no President from
the days of Washington till now and no Sec
rotary of the Treasury from the days of Ham
ilton till now, had ever given his adhesion 10
the doctrine of irredeemabie paper money.
This statement encounterel the whrlwjnd Of
his condemnation. And he deemed it suf.
ficient answer to say that President Washing
ton and his great Secretary, Hamilton, them
selves devised a bill establishing United
States bank, that Congress passed il and
Washington signed 1t, and that the notes of
that bank were made legal tender, and
that thus Washingtol and Hamilton
gave the people paper currency which
would answer their purpose if all the silver
and gold should be carried out Of the coun.
try. The gentleman will find perfect and
overwhelming answer to this criticism if he
will read the tenth section of that very law.
1t is in these words
said corporation. originally made payable or which
shall have become payable demand in gold and
silver coin shall be receivable in all paym ents to the
United states.-l Statutes attargs, page loo.
That is, so long as the notes of the Nation
al banks were payable on demand in gold
and silver coin, so long, and only so long.
were they receivable in all payments TO the
United States. They were not legal tender
for private debts, but only for debts due 10
the United States, and only when they were
for coin.
The first bank of the United States was ere.
ated by hard money men. The law which
the gentleman cites was hard money law.
and he can find in it no comfort for his doc
trine of unrestricted, irredeemable paper mon
ey.
now proceed TO make good my statement
that the fathers of the Constitution and our
President and Secretaries of the Treasury an
proved of no currency except such as was
exchangeable for coin at the will Of the hold
er. In the Constitutional Convention, as re.
ported in the Madison papers, Governor Nor
rIs moved to strike out the clause which au.
thorized Congress TO "emit bills on the credit
of the United States" Mr.. Ellsworth said
This favorable moment to shut ard bar the
door against paper money. The mischiefs of the va
rious experiments which lhave been made were now
fresh in the public mind and excited the disgust
ofall the respectable part of America.
Mr.. Read thought the words if not struck out
would be as alarming the mark of the beast in
the Revelation.
Mr.. Langdon would rather reject the whsIe plan
than retain the three words ''snd emit bills"
The words were stricken out by the vbte of
eight States "ay,o to two s.no." Mr.. Madis-
on voted to strike out the words, but said
their omission
Would not disable the Government from the Of
public notes far they could be safe and proper
and would only cut OF the pretext for paper
rency and particularly for making the bills tender
either for public or private debts.
WASHINGTON.
In writing to Thomas Jefferson from Mount
Vernon, under date of August /, 1875, WASH
irpfol saws.