The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-08-29


but evidence the hard times and lay bare the
suffering among the laboring people. Money
alone demands high rates, and muscle tluds
no market. There is deficiency Of curren
cy, and this must be supplied but not by the
old ''wild cat'' State banks. 1t must be
greenbacks. With circulating medium OF
$1,000 900 Virginia pays a tax Of S12,0O0,-
900. 70 remedy this condition of affairs,
the speaker wanted greenbacks issued in a
sufficient quantity to retire the United
States bonds and stop the interest. Let the
bondholders receive their money in green
backs, upon which no interest will De paid.
Then the country would be prosperous, and
''money tramps' would be going around
seeking investment for their funds, manu-
features would be started, railroads built,
&c. The idea that greenbacks resemble the
State coupons is absurd. TIE one is always
currency everywhere, and when it goes
into the Treasury comes out again as good
as new, whilst the other when it is once re-
turned is no better than so much waste pa
been in the interest of the bondholer to the
oppression of the laborer, and the national
banking system has beena powerful agency
in producing the present depression and
be wiped out, and money issued by the gov
eminent in accordance with the idea OF
Calhoun, Clay aud Webster. Let there be
uniform currency receivable for all debts,
dues, &C., pay off the national debt and get
rid of the Internal revenue tax. The debt
was contracted in greenbacks and let it be
paid in the same currency, Cor when do you
expect to-be able to pay off $2,000,000,0 900
in gold?
As re-adiuster, Mr.. Massey had called
him, in a patronizing manner, one Of his
children" Because a soldier had fought
as private in the ranks was no reason why
the army. He had labored for the cause Of
REIMBURSEMENT from the first, but was only a
private citizen. As for Judge Harris he was
unable to say when he was converted. He
would leave that to Mr.. Massey, who was
more conversant with penitents, to deter
mine. He knew that Judge Harris had op-
posed the cause OF REIMBURSEMENT in the
Harrisonburg meeting against Walker; he
had not satisfactorily declared himself in
Bath, and at the recent Rockingham meet
ing had come out as a 'sre-adjuster in che
COOL" whatever that meant. It had been
said that he was too young-that he must
bide his time and all that kind Of talk; his
time had come now and he was going to
take advantage of it. In the West the peo-
pie always select the man that suits them
whether he be yonng or old, and that was
the right way. If a man has the brains and
courage and capacity, and his views accord
with that of the masses, he is the one tc be
chosen.
Mr.. Paul was literally applauded through
out his entire address, and at its close
JUDGE HARRIS
stepped to the front anc was received with
lusty cheers. After adverting to his recent
sickness, he dwelt for some little time upon
the relation of constituent to representative,
and the strength and encouragement
support and good will of his people. The
same name and reputation he enjoys at
home is carried with him to Washington,
and to great extent measures his influence
in the halls of Congress. More particularly
at this time should the people uphold their
servant. The depression that now broods
over the face of the land must be dlssipated.
Something is radically wrong, for in spite
of abundant harvests there is want all over
the land, and labor is crying aloud for en-
ployment. The great need is more money,
not an undue imitation, but just enough to
restore property. 1t is impossible to ar
| rive at the exact amount, for human wisdom
has yet failed to establish any rule by which
it can be determined exactly how much or
how little is best. By comparison we know
that we have not enough, for every civilized
nation on the globe, except England, has
double the amount per capita. France has
$50, and Germany and other great powers
| almost as much. whilst we have $l2. Before
the war Virginia had circulation of $780,
600, 900. Now she has but $3,O00,OO0. Al
ter the war the currency was contracted
from 81, 000, ZOO, 900 to $500, 900, 600, and why
was the reduction made? Certainly as much
is required in times of peace when all the in
dustries are in open alton as in war; This
has been the result OF Republican legisla-
+ IL II. 1,
bondholder, the monied men of the North
and East having welded the moulding pow
er. The whole tendency has been to appre-
ciate the value of money and deprecilte
prosperity-m labor cheap and money
dear. Here the Judge quoted the figures,
&c., Of his late speech published in the Con-
gressional Record in June. and reproduced
in this paper.]
As far back as 1874 he had predicted this
condition of affairs, and the people are re-
| alizing the force of the prediction now. He
| was opposed to reckless initiation, nor did he
| altogether favor the establishment of State
Banks. but he favored the repeal of the tax
on State Banks, for the reason that State
should control its own banking system if it
| so elected.
Captain Paul had said that Virgl mia should
follow the example of the West in changing
her representatives. That was just what
she ought not to do, for the secret of tie
power welded by New England in the
councils of the nation was attributable tC
the fact that she hardly ever changed hel
represen tativts, but sent the same ones term
after term, so that each might take up the
work again just where he left it. He had
worked day and night in the interest of hi
constituency. and if returned he would con
tinue to pursue the same course. He didn
know whether he had the brains that hat
been so forcibly alluded to by Capt ain Paul
| but we want that brain work to manage on
State affairs.
He then adverted to the old State Bank
system again, and asked Nj. Paul how he
had voted on the bill which passed the leg
islature recommending the members Of Con
gress to vote for repeal of the tax on Banks
How did you vote on that Bill, Mr.. Paul?
PAUL. don't remember.
Harris-Ah, you don'G remember! II