Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1878-01-22


! "a metallic currency. Referring to
the specie resumption act OF Jan. II,
1873 he said an attempt TO force the
resumption of specie payment with
gold and silver both as our metallic
| basis would be a cruel failure az this
| time. He spoke of the great shrink
age in values arising from the SHRINK
| age of money in circulatian, and SAID
it was the immediate of that
general bankruptcy and ruin which
| had o fallen upon the land. II the
| policy Of this government a been
to irfict the greatest misery on the
| greatest number, its success has been
| complete. He was not an infiationlst
in any sense Of that word 1t dlsturbs
the true interest of trade and COM
merce. During the whole four years
| of 1863, 1864, 1865 and 1866. when the
strength of our currency averaged
| over a thousand million, the business
failures of the entire country reached
only 2,I67 less in number than occur
red i'm any six months OF the year
lust closed. Daring the conditions,
which is now stigmatized as OF IN
fation. the windows of business
houses were not darkened, and bust
ness men did not go as mOurneTs about
the streets. The labOrer did not go
home without means TO his wife and
children i. helpless millions did not
cover and tremble al the approach of
winter for the lack of food and shell
ter. The public peace was not broken
by riots in resistance to starvation
wages. The courts were not princi-
pally occupied in the enforcement of
collections, foreclOsing mortgages, Or
dering sheriffs' sales, or in prosecuting
the distressed and outcast. These are
some things which did not take place;
others which did are equally striking.
Good wages and good prices strength
ed every labOring mans muscle, every
business mans brain, and every pow
er of machinery into the highest and
most productive action. Hope and
encouragement were in every heart,
new farms were bought and cultivat-
ed, new work shops were opened, new
manufactures established, news mines
of iron, coal and silver were sunk in
to the earth. whose contents in return
assisted in the glad work OF an uni
versai, individual and national pros
perity, He urged that there Is not a
dollar to-day in the hands of he peo-
pie on which they have not paid tax
for the privilege of having it put in
circulation by the Government. The
National Bank is middle man between
the Government and people, and is
enormously paid for doing what the
Government ought to do directly IT.
self. He spoke of the evils of the ma
tional bank system, and said II the
national banks were a blessing, then
our public debt was a blessing, for
debt supports banks. In concluding,
he said for those whom be spoke de-
mRnded the restoration of the silver
dollar and it's unlimited cOinage, not
fearing that it would become too
plentiful, and that it be made a full le-
gal tender. Second. they demanded
the reveaI Internationally OF the spe~
Gle resumption act of January a.
1875. Third, they demanded that the
national banking system be repeated,
and a circulating medium be prOVl-
ded by the government for b people
without taxing them for the privilege
of obtaining it, and they asked that
the amount thus put in circulation
should bear a reasonable and judlcious
proportion to the busineSs transactions
and population of the United 3 tates.
Fourth, they demand that the cur
rency authorized and circulated 10y
the authority of the government ehai!
be made a legal tender in pay ment OF
of all dues public and private, iHclu-
ding all dues TO the government.
Fifth, they demand that hereafter the
Financial policy of the country be
framed permanently in their interest;
that they shall not be Disseminated
against in future legislation as in the
past.