The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1878-01-02

only affected the future coinage. The fol
consum nation of this fraud upon the poop
was reserved for another occasion.
Subsequently the laws of the United State
were revised. being in charge of = commit
te of the House of which Mr.. Poland, I
Vermont. was chairman. Time and ag4i
he assured the House of Representative
that the revision had in no respect change
any Law in any manner whatever; yet /
section 1886 of the Revised Statutes We fin
the characterization of silver apply as wei
to the silver heretofore coined as that hereaf
ter coined. Was that By accident or de
sign?
| Tnis demonstration of silver has pecu
liarly singular history-a most remark
| able chapter of accidents We have sees
that it passed the House without being reat
or any one knowing anything about it. w
I nave seen the law was changed or attem ptet
To be changed in the adoption of the Revises
/ Statutes, Notwithstanding the repeated as
surances that no change had been made
But what more do we see? Why, in sons
manner or other best known to those en-.
gagged in the conspiracy, the President o
the United States signed the bill without
knowing there was any provision In 1t de
| moDetizinr silver. The bill dem onetiZing
| silver was passed February, 1873.
In letter written October 3, 1873, to Mr.
| Cowdry, General Grant said
Il wonder that silver is not already com
| ing into the market to supply the deficiency
| in the circulating medium. Elk
| perience has proved that It takes about $40,
| 100000 of fractional currency to make the
| small change necessary for the transaction
of the business of the coG1try. Silver will
| gradually take the place of this currency.
and further. will become the standard ol
values. which will be boarded in a small
way l estimate that this will consume
from 5000, 600 600 to $300.000-000; in time of
this species of our circulating medium.
| confess to a desire to see limited
boarding of money. Bat | want TO see
hoardding of something that is a standard
of value the world over. Silver is this.
Our mines are now producing almost I'M
limited amounts of silver, and it is becom-
ing a question, Nv hat shall we do with it -
| suggest here a solution which will answer
for some years to put it in circulation, keep
ing it there until it is fixed, and then we
will find other markets"
Has the world ever seen such chapter of
accidents about matter OF so much i'm
portance?
use one more consistent, rs | believe, with
truth, namely, design, deliberation, an in
tention in this indirect way to defraud the
people. Here we see that seven months af-
ter General Grant signed the bill he was ut
terly ignorant of il, and is wondering that
silver is not already coming into the market
TO supply the deficiency in the circu lating
medium" He says he wants to ''see hoard
ing OF something that's standard of value
the world over. Silver is that" He thought
there was u deficiency in the circulating
medium He thought ''slver was a stand
ard of value the world over" [ commend
his views to those of my friends on the 9TH
er side of the Chamber who have fought so
long under his banner.
Let us for moment review the history of
this whole matter.
When our national debt was first created
we have seen it could be paid either in legal
tenders, silver, or gold. First you took from
the people the right to pay it in legal-ten-
ders and made il payable in coin Secondly,
you demonetized silver, by which you COM
pei them to pay it in gold, and in addition
TO this all the time you hive been contract
ing the currency. Is it any wonder gold has
appreciated and everything else deprecia-
ted? We only have about $lS5 100000 in
gold coin and bullion in the United States,
as shown by the last report of the Director
of the Mint. 1t requires more than halt of
that TO pay our annual interest on the ma
tional debt, to say nothing of the principal.
Where is your gold to come from to pay the
principal and interest on the untold millions
some, say, 100000 900 000-Of our State,
county, municipal, aud corporation debts
Where will my friend from New York get
the gold to pay your State taxes, for you
have passed a law compelling your citizens
TO pay them in gold after January, 1879?
Where will the citizens of New York get
the coin with which to pay their private
debts contracted after January ] 1879? For
YOU nave passed a law cODE clIln2 Gn6Ul TO
pay such debts in coin. Where will you get
he gold to resume specie payments, to pay
the $500, GEO. 600 of legal-tenderS? For it Is
all folly to say that they can be reissucd at
ter they have been redeemed, for ii such be
the proper construction, that the Secretary
of the Treasury, or any one man, has the
power to contract or expand the currency
at his will, it ought instantly to to be re-
pealed. No such wonderful, startling pow
er should for a daY rest in the grasp of any
iv ipHan6 hay
a union of the purse and sword, which could
and would be welded for the purpose of
swaying elections and controlling legisla-
ton.
Mr. President, l have already detained
the Senate longer than [ should. l have
sought in my humble way to put forth one
plea for Justice to the American citizen.
Go not know that can bring my remarks
to a close more becomiBgly than by real
ing and commencing to the American Sen
ator the language of one OF England's great
est men as he was quitting power after hav-
ing just made a mastery struggle for the
suffering poor of his own country.
IL is the last speech of Sir Robert Peel, in
abdicating his position, not only as prime
minister, but as the leader of a great party.
He thus concluded his address upon this
memorable occasion:
In quitting power / shall leave behind a
name severely blamed, fear, by many men,
who without any personal interest, but only
with a view to the public good, will bitterly
deplore the rupture of party ties from be-
lief that fidelity to party engagements and
the maintenance of great parties are pow
erful and essential means of government
| that 1 shall also be blamed by others, who,
without personal interest, adhere to the
principle of protection, which they regard
as necessary to the prosperity of the coun-
| try; that shall leave a name detested by
all monpolIsts, who, from less honorable
motives, claim protection by which they
| largely profit; but l shall perhaps leave a
name which will sometimes be pronounced
with expressions of good will by those
whose lot in this world is to labor, who in
the sweat of their brow eat their daily
bread, and who may remember me when
they renew their strength by food at once
| abundant and Hntaxed, and which will be
| the better relished because no longer i'm
| hittnrad hH any feeling of iniustice.n