The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-01-19
Packed Chamber and Crowded
Galleries Listen to the
Peoples Champion.
The financial Question VIII Never
Cease Until fhe Debt Is In Process
OF Extinction on Principles Of
Justice TO the Tax Payers.
The Demands Of tie Bondholders Threat.
ems to Change the Spirit and Form
Of the Government iato
Moaied Aristocracy.

| AnohstuunA ouo National PrOspe ~ q
Htusss es . Legal Tender Cfreei.s
ing medi"m frsporsaoaase 10 an,
D0sfness of she Coaatry.
1 Senate-The galleries were full an,
all open spaces In the cham Der filled
Il MIR. Voorhees,, OF Indiana, called ur
the resolution submitted by him OIL
the 18th of December last, declafins
that IT is Of the greatest importanc.
that the financial credit OF the gov.
eminent be maintained, and In order
10 do SO the government itself, in ali
It's departments, should In good faith,
Keep its contracts aud obligations
entered into with its own citizens.
He referred TO the continued agita-
lion of the financial question, and said
1t would never cea 6 until the people
are satisfied that our vast debt Is In
process of extinction, on principles OF
Justice to the taxpaying labor, or until,
on the other hand, they are subju-
gated into silent submission and the
government itself becomes changed
In spirit and form into q moneyed
aristocraey. 1t may be that this lat
ter alternative Is to overtake us.
There are dark and plentiful omens In
our recent history indicating such a
conclusion. There Is numerous and
powerful class in our midst who be
iieve, as Alexander Hamilton de,
ciared, that the British government
In this a. well as on other points, Ia
the best ever devised by the wisdom
OF man. Those entertaining this opin-
ion have thus far triumpbed Ia the
financial legislation of the United
states, aud the tins has now arrived
when their victories must be reversed,
| or soon this government will cease To
be repnblic, and the people no longer
D. tsee.
de argued that to a great extent our
whole financial system Is an organized
crime against the laboring, tax payin,
men and women of the United States,
and those who thought, as be did, that
great work OF financial reform Is de
manded la order TO secure the people
from slavery, in fact IL not in name,
were denounced. He spoke of unholy
Avarice having its stronghold, and
privileged classes having entrenehed
themselves, and said: "rhis plea OF
good faith, now 30 loud In our ears, has
been invoked In behalf OF every wick-
edness that ever cursed tue world.v
He then spoke Of the act Of February
%, 1862, as the beginning of our bond.
ed debt. The precious metals were
found to be unequal to the emergency
of war, specie payments We're absn-
dOned. As soon as the hour of trial
came, gold aud silver covered la
the rear, while the legal tender dollar
vent To the front with the flag and
stayed there. He was among those who
doubted our right to issue 1t, but ex-
perience had shown IL, all things
considered, the best money that
ever circulated on American soil. He
argued that this Ect, and by similar
legislation sc Subsequent periods, ev.
cry bond issued by the government
which did not on It's face stipuIste for
payment in coin was made payable by
the express words of law In legal ten
der .otes
He quoted from the language Of the
late Thateus Stevens 10 the effect that
even the payment of the interest on
the bonds in coin wss on odious and
unjust discrimination in favor of the
bondholder. He also quoted from
speeches 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 the bonds
In coin, rs the beginning of repudia-
ton. The present secretary of the
treasury was the chief of the repudia-
tors. foremost among the vioia,ors
OF the contract aud leader
among those who have in no in-
stance kept the good faith Of the
government with its own people
. moment after they found that bad
faith would bring them richer gains.
He commented at some length on
the act Of 1883. to pay the bonds in
coin, and said: 'In some countries
the habit prevailed Of building a pile
Of stones to mark the ,rpot where the
tragic event had happered, 30 let the
American taxpayers, whenever the
act OF 1888 Is cited, each cast n stone
upon 1t to mark the place i'm
American history where repudia.
tion began aud where the rights Of
the merican people were nerciIessly
and treacherousiy sinug ghfered.n He
next commented on the refundinx act
OF July IA, isTo, and said IL was passed
to back the fsise assertion OF the act of
1853, that our whole t-onded debt w.s
payable In ccin. He argued that Lu,th
OF these acts we're framed IN the In.
teresss OF the bondhosders aud under
their 'iictatioDI hut even under these
Acts the bonds were payable with
either gold or silver coin, aud not pay.
able = ith gold alone.
Mr.. Voorhees, then spoke at SONS
length in regard 70 the advsntsess Of
silver coin. and said the oliver dollar
cane to us with the faith Of our e,v-
ssnmsnt. "It vAs Devised = : uptt
Of value by Thomas J<cEefson. ..A