The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1878-01-09
THE NATIONAL DEBT.

Some friend at Washington has
been kind enough to send US copy
of the Hon. Thomas Ewing's speech
on the bill to repeal the third section
Of the resumption Law, delivered ia
the House Of Representatives, on
the 22d day of November, 1877.
The tone. character and scope of the
principles enunciateG in this rare
production are of the highest order,
and entitle this honorable champion
Of the peoples interest to the lasting
gratitude OF the whole Republic.
The facts which he argues are ad-
duced from the statistics of British.
French, German and other Europe
an nations, and clearly show that
the United States government can
not, on the first Of January, 1879, or
any other day in the near future, re-
sumo payment in gold coin and bull
! lion. Aud the pertinacious attempt
8 by some OF the so-called Repubii-
can leaders is enough to sheck the
country with a sense of the impend-
ing ruin consequent upon the defeat
4 Of the bill to repeal the third sec
] ton. Congress and the President
or 3 large minority of Congress and
! the President-may defeat the pro-
posed repeal of this resumption act.
Z II they do, Mr.. Ewing shows clearly
j what will be the result to our coun-
try in want, disaster and financial
= wreck, through this mischievous leg
8 islation. Should the oligarchy, the
Z few money kings OF New York aud
g other northern cities. continue to
y control the legislation of Congress
Il in the financial matters OF the coun-
try, AMI are allowed to make their
4 exorbitant exactions of geld in pay
4 ment Of inflated currency contracts.
there is no alternative for the people
J but bankruptcy and general ruin
which is shown by the plainest rea-
4 soning and in the most elegant style
4 in Mr. Ewings speech. 1t 10 high
] time that the people-the farmers,
mechanics, the country merchants
q and the anufacturers-were consld-
ering this question. and arousing to
q the magnitude OF the issue between
! them and the money rings OF Lom-
bard and Wall streets, and prepar-
Z ing to take care of their own inter
9 ests in This matter. If the resump-
= ton act is kept in force a. the law of
3 the land. the whole fabric of Ameri-
3 can institutions is shattered and torn
4 into pieces. Yea, even our boosted
4 constitutional liberty and free instI-
4 buttons lie at the feet of the misera-
& BILE, Unsuitable money bloats of the
4 country, The American freemen S
8 rights, privileges and liberties are as
s filthy rags before the power of these
q giants. who will have all of the in
dustrIes of the whole country tram
Z meled-bound hand and footed
{ captive by their plant tools in Con-
q gress, at will. And wo to the last
8 yestige of American constitutional
I liberty! If Mr.. Ewing can get the
4 honest. hearty support OF the peo-
pie in this trying exigency, he Will
q deserve the highest konors that
( American patriots can bestow upon
! him. Ia any event, he will deserve
d to be considered the hampton Of
& human freedom aud the defender Of
8 freemen's rights as the fabric goes
3 down around us.
j Let everybody read his speech.
I Let the people reflect thereon, and
4 stand frm-compel exact justice at
3 the hands of these monsters of viii
d lainy and corruption, and demand
Z that the pound be paid according
4 to contract. The way is open; the
i road is plain and easy; follow E"-
1; ing and enforce compliance with the
8 demands of justice and constitution
!; al freedom. Where is the sense,
8 the justice, or the interest that can
4 allow these sharks to swallow the
D dearest rights of the American peo-
8 pie!
8 Mr.. Ewing demonstrates that we
q cannot resume; that the gold coin
81 Of the country. with the bullion add
4 ed in, and the silver remonetized, is
y not sufficient to enter upon The pro.
& ject as contemplated by the law.
q He shows. as clearly as demonstra.
g ton can be, that all the idleness.
81 paralysis, want ami threatened ruin
n of the country are but the natural
q offspring of the resumption law to
{! be enforced by the government after
i the first of January, 1879. He
q characterlzes the law as the Grown
q ing yillainy' OF the act OF 1878, by
y which tea thousand millions of cur
3 rency debts were made payable in
q gold. by which the great wealth-pro-
& ducing classes are being robbed OF
81 their accommodations for The benefit OF
. usurers, III consequence of which our
i land, in the abundance Of Gods
9 bounties, is filled with the cries OF
8 hunger and despair. The great