Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-28
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-Tc rHE-
Daily kennrbff Journal
Grand Turn9ut 0f.!he People
III HaliOWeIl.
HONEST MONEY AGAINST DISfION-
EST MONEY.
Honest Money Uins!
Joint Discussion Betweea tn. Hall
and Mr.. HobsoD.
THE ARTILLERY SWEEPS TIE
FIELD!
HONEST MONEY AGAINST DIsnON.
EST MONEY.
Honest Money WiMs!
Joint Discussion Betweea G,n. Hal
and Mr.. uobsOn.
Especial despatch to Daily journal.

LSpeclal uespatCu 10 Dally journal.
ilALLowELL, August u.
Tue joint discussion in this city tonight, on the
financial question, was grand triumph for hon
est money, and if the few greenbsckers left do
not speedily melt away, we are mistaken. Will
son Hall WAS packed at early hour, not only
the seats but the standing room as well being &C.
cupied. Quite number of the Augusta people
were present, and the train brought some from
Gardiner.
James Atkins, ESQ.,, called to order and on his
motion Hon. w ilham Wilson was called TO pre-
side. He announced that the speakers would &C.
cupy one hour each.
Hon. Isaac L. Hobson of Wiscasset, was then
introduced, who WAS to present the greenbsck side
OF the question. He commenced by claiming that
the republican party had abandoned its principles
10 The wrong power, and become worse foe to
the nation than was American slavery il its palm
lest days. 1t was the cause of all our present
misery. The money power is Keen, shrewd and
able, and is TO be feared lie proceeded to look
AT the various acts of Congress passing the loan
bills, ella inning that the fact was that Congress did
not make all It's issues Of sreenbacks legal tender
for all debts. The government should have made
all its issues as good gold. He reviewed tue
various acts authorizing the different loans, claim
ing tuat they were all III the interests OF the money
power, as well ~ the national banking act, which
he said gave all the advantage to the banker,
and none TO the people, lie would make the
banks the servants and not the masters OF the peo
pie When the law was changed that our in-
debtedness and interest was payable 10 coin, aud
not ia currency the demand for coin put il into
the hands of gold spectators, and embarrassed the
business of the country. He denounced the re
sumption act ami the characterization of silver
Gold and silver are relics Of barbarous nations.
When England resumed specie payments the rich
became richer and the poor poorer. The whole
idea OF making specie basis for our credit is a
false one, and 1t Is lmposs lbe to do After the
errors OF ten years the republican party had an
nounced they should take no backward steps; and
in 1868 he had his eyes opened on this subject,
and could go no longer with that party. In re-
gard to the amount of gteenoacks, he would ad
vocate the issuing OF as many As would meet the
demands of trade. Mr.. HoDson spoke for one
hour.
Gen James A. Hall, who was to speak for hon
est money, was then introduced, and was greeted
with loud and prolonged applause. lie commenc
ed by saying that Mr.. Hobson represents the BRAIN
ofthe greenDaok party Of Name. but he had gone
back upon his record as member OF the House
less than two years ago, when he declared that
prosperity would return to the nation when 1t
should call III and redeem Its greenbacks. He
answered consecutvely and with great success all
the points made IN regard TO the issues Of bonds.
Why were The FIST Issue OF treasury notes kept at
par' Simply because they were payable on de-
mand IN coin. The others were not So payable,
and the government had to do the best il
vas made. la every act ot Congress on the sub
Ject the greepbEck VA, the part OF the loan to be
paid IN the future. Go from end OF the bonded
debt 10 the otner and the provision for PdyBleat
not the exchange ot one piece of paper for an
other, but PdyhaeHf. lie referred TO tue Of
France. that she had returned to specie pay ments
AS the only safe course after emerging from war
Had We reached specie payments in 1871, we
should not have experienced business. disasters
When the currency has been contracted, then
hl. roo af.ta that h..a
struck the country has come at the time Of the
greatest volume of paper money. We want gold
and silver as the standard of values, and he was
surprised to hear the genl man say they they are
relics OF barbarIsm. Abraham used silver as q
standard OF values, aud he had never heard of
him being placed IN the catalogue of barbarians.
lie SAID the national banks, instead of being In
the interest OF the money power, were fought by
that power on their inception; they .csnlribute
universally to the taxable property OF the towns
in which they are located.
he was surprised that Mr.. HObson had turned
his back upon the political party and associates
with whom he had stood shoulder 10 shoulder for
20 many years, fighting the battle for the perser-
walton oi the nations life. Isaac L. liobson, IN
whose veins there never flowed drop Of unpat
rolIc blood, the man who stood by the govern
meut with ali his powers in her hour OF peril,
now finds himself trsnuipg with ,oorhees OF
Indiana, the man who was known TO be the lead
er Of the Knights Of the Golden Circle in his
state, who had secreed in his office the arms
with which to equip that dlsloy al band a COMPANY
OF men whose purpose and designs are TO assist
IN breaking down the governWeut. Isaac L. Hob
son ami Dan. Voorhees,! mere lful heaven! in
what company has he cast his To- : Lobsou can
NO more affiliate with Voorhees, than Abraham
Dincoln could have struck hands with Jt tfersson
Davis.
lie thought it was not best to array capital
against labor. The money lenders OF the country
have not proved themselves Its enemies they free
" poured out their money when the country was
bleeding at every pore, the BANKERS in the cities
OF PhlladeipnIa, New York and Boston at one
time loauing SIS 1000 900.
The gentleman has declared that the legislation
upon the bonds and greenbacks was controlled by
the money power, and not 10 tne interests OF the
people, thereby charging intamy against some OF
the uuest and best men that ever lived upon thi !
continent. Who are some OF the men who shaped,
controlled and managed all these great measures
Lincoln, Chase, Fessenden. sumner, Wilson.
Thaddeus Stevens, Henry Winter DAVIS, besides
scores of other men who wore their lives out with
their labors IN saving the Republic, every one of
whom recommended and aided IN making that
leg slation part OF the countiys history. Such
men 1t will not do to SANDER; aud poor indeed
must be the cause that calls forth such declora-
tons.
Gen. Hall closed his speech of one hour with
the following eloquent alluson to history aud ITS
illustration:
And now fellow citizens il seems to me that we
msst all conclude that our difficulty at this time is
not owing to the causes named by our opponents,
but quite to the contrary They are mistaken IN
their assumption, or else the history OF the world
has been incorrectly written.
After we have been sailing the dangerous seas
of suspension and irredeeDable paper money for
sixteen long years just as we are approaching the
haven of resumption, these men tell US that our
safety lies in turning our bow again from the
shore, and by sailing out once more into the mist
and fog of imitation All history flies in the face
of all such doctrines the teachings Of every sound
fnancier of he world brands it as false Every
President of the United States from Washington
to Hayes; every Secretary of the Treasury from
Hamilton to Sherman, says it is not true.
Had time to recall to your minds the many
pages OF history sustaining my declarations here
tonight, the proof would be overwhelming goi'fg
to show that what we to-day need is not the DIES
uuction OF the National Banks, not the issuing oil
paper money by the general government. but con
tdence, stability and bxedness in our financial
system. and confidence in ench other. We need
to anchor somewhere, md let the ship rest IN
smooth water. This will follow the resumption
oil specie payments.
| On the 20th of October, 1896, the two houses oil
the British Parliament met under grave apprehen'
sUns The new coinage act had gone into effect
the slight difficulty resulting theretrom WAS being