Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-01-16

treasury as the author Of what he himself said
constituted the twofold crime of Republication
and exhaustion.
Voorhees,, IN support of his position, quoted
the language Of Senator Morton in 1869 as fol-
lows: a combination Of stock jobbers, as
destitute OF conscience as pirates, and inspired
alone by greed for money, successfully thun-
Government to commit the most stupendous
act of bad faith and legalized robbery ever
practiced upon any people since the dawn of
history
He next took up the printing act Of 10,
charging that it was the offspring Of appprehen-
sion that the work of repudiating the contract
for the payment of the $40 bonds might not
be quite complete. Thus it was provided and
new issue of new coin bonds in place of the
original ones. the amount saved in interest is
trifing compared with the loss by the whole
transaction. ~
March SO and Jnly'7O the bonds outstanding
and afterwards to be issued were payable in
coin not in gold alone nor in silver alone but
in coin. He quoted Sherman in 81 as explic-
itely favoring this view.
Voorhees, commented at some length on the
j, H.,
said demonetized the dollar of our fathers, and
its enactment was as completely unknown to
the people, and indeed, to four-ffths of Con-
gress itself, as burglar in a house at midnight
to its sleeping inmates. The silver dollar was
demonetized from our money system under
cover of false pretense.
Voorhees, proceeded to show that of the entire
trading and commercial population of the earth,
more than four times as many people have
chosen silver as have chosen gold, and more
than five times as many have chosen silver az
have chosen gold and silver together. The la
boring classes desire money to be plentiful.
while those who wish to fasten their idle wealth
on the productions of labor clamor for scarce
and dear money 1t was in the interest of the
latter powerful class that silver was demone-
tiled.
He referred to the act of January 14th, 1874,
for the resumption of specie payments, and
said the law of February, 1878, taking away
silver money from the people, and the law Of
January 18th, 1875 fixing the day, now less
than a year in advance, when greenbacks shall
also perish are twin monsters Of evil born of
the same parentage and linked together for the
portrayed the effect which this legislation had
had upon business and labor. He spoke of the
impossibility Of resuming January l. 1879, and
attributed tho vast shringage in the value of
property and the universal distrcs, to the poll
cy Of contraction, and said during the four
years Wuen our VOluuQe OF currency averaged
Thousand millions, the business failures of the
entire country reached only 2, 167, less in num-
Der than occurred in any three months Of the
year just passed.
During the period which is now designated
as one of imitation the windows of business
houses were not darkened, and business men
did not go us mourners about the streets; the
laborer did not go home without bread to his
wife and children helpless millions did not
cover and tremble at the approach Of winter
for lack Of food and shelter; the public peace
was not broken by riots in resistance to starva-
ton; the courts were not principally occupied
in enforcing collections for closing mortgages,
ordering sheriff sales, or in Furnishing the
destitute and outcast.
The speaker next turned his attention to the
national banks, and said the system of national
banking now in use is the most elaborate and
complete scheme for making people pay tribute
to wealth, in order to obtain o circulating me-
dium, ever known in the financial history Of
the world. There is not dollar in the hands
of the people on which they have not paid a tax
for the privilege of having it put in circulation
by the government. The national bank is a
middle man between tho government and the
people, and is enormously paid for doing what
October 1st, 1877, there were 2,080 national
banks, with resources amounting to seventeen
hundred and forty-one million dollars, and on
these resources the interest paid by the people
was one hundred and thirty million dollars per
annum.
Mr.. Voorhees, said he represented those who
demanded:
First--The restoration Of the silver dollar
exactly Us it stood before it was touched by the
act Of February, 1873. They desire that it
shall have unlimited coinage, not fearing that
it It VIII become too plenty for their wants, and
that it is as good now with which to pay all
debts, public and private, as it was during the
eighty-one years Of American history
Second-The repeal Internationally of the
act Ct January 14th, 1875, compelling the re-
sumption Of specie payments on January 18th,
specie basis for our currency should be con-
trolled entirely by the business interests ofsthe
country. They do not believe that the country
should be dragged through the depths of ruin,
wretchedness and degradation in order to reach
q gold standard for the benefit alone Of the
income classes.
Third.-That the national banking system be
removed and circulating medium provided by
the government for the people without taxing
them for the privilege of obtaining it. and
they ask that the amount thus placed in circu-
lation shall bear reasonable and judicious
proportion to the business transactions and the
population of the United States.
Fourth. That currency, authorized and cir
cnlated on the authority of the government.
shall be made legal tender in payment of ali
debts public and private, including all dues to
the government well knowing that it will then
be at par with gold, or more likely at premi-
UNI over it.
Fifth-That hereafter the financial policy of
the country shall be framed permanently in
their interest; that they shall not be discrimi-
mated against in future legislation as in the
past, and that their prosperity, and not the
mere growth Of the income to be retired to cap
italists, shall be the primary duty of the gov
eminent.
In conclusion VOORHEES, quoted from the ar
ticles he had noticed in certain eastern news.
papers in regard to the rights of the bondhold-
ers; the duty Of the laboring classes and the
policy that should be pursued by cap
ltalists to counteract the effects Of
and said: II have no word of menace to utter
on this floor, but in behalf Of every laborer,
and every owner of soil whom represent, /
warn all such as value their Investments that
when their doctrines Of despotism are sought
to be enforced, this fair land will again be con-
yrlsed in agony, and the fires of liberty will
blaze forth again they did one hundred
years ago, in the defense Of the natural
rights Of men. Applause in the galleries.
May the wisdom Of our fathers God
the benignity of our God avert such an issue.
But If it shall come, if infatuation has seized
our counsela, the result will only add one more
instance to the long catalogue Of human crime
itself, and in it's unholy attempt to rob others
Of their possessions loses its own. Great al,-
plause in galleries.] Adjourned.
House Of Representatives..
WASHINGTON, D. c.. Jan. 15.--1'he following
bills were introduced and referred:
By Dunnell-To declare Jurisdiction Of the
United States over the harbors and navigable
a.. II G. ~