The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1879-05-24
SOUND DEMOCRACY.
HON. OSCAR TURNER, OF KENTUCKY on THE
COINAGE BILL.

T.
COINAGE BILL.
In the house of representatives, on the
18th inst, during the discussion of the
amendment to the bill relating to coinage
and coin and bullion certificates, and for
other purposes, Hon. Oscar Turner spoke as
follows:
Mr. Speaker, as we are discussing this
bill under the five minute rule, will pro-
coed directly to the merits of this amend
ment offered by the gentleman from Texas
(Mr. Mills. The misery that has been
brought upon this country by the financial
legislation of the last fifteen years, and
which legislation has been entirely in the
interest Of the bondholder, has been so
thoroughly discussed that | will not tres
pass upon the time of this house in refer
ring to it. The masses demand relief. re-
lief from the burdens of taxation and the
unjust legislation which is making them
poorer every day, while it is adding to the
wealth of the bondholders. Silver has
been demonetized by fraud, so we'll con.
cealed that not even the members of the
committee on this floor who reported the
bill under which it was done can give any
satisfactory account of it or fix the guilt
upon the perpetrator, as appears from the
speech OF the distinguished gentleman
from Pennsylvania (Ir. Kelley, delivered
in this house May 10, 1879, and which I
refer to.
an Extent as to more than double the pur-
chasing power Of money, thus causing a
general shrinkage in value all over the
country. tits well understood by the peo-
pie. 1t has brought bankruptcy and ruin
upon the country. The Republican party
have had the power in every branch OF the
Government, but instead of giving relief
they have added to the burdens of the peo-
pie, and by their vote at this session have
shown that they intend to oppose every
measure of financial relief. The people
are looking to us to give them some relief,
and 1t is the duty OF the Democrats upon
this floor to make the attempt, and if it is
not successful let the masses know where
the responsibility rests. Let the president
give us another veto if he means to disre-
gard the right Of the people to financial re-
lief which is just and proper. Let the pco-
pie know who is responsible. Let us do
our duty as Democrats on this floor.
Now, what is demanded We want free
and unrestricted coinage of silver and make
it legal tender for all amounts and all
debts, That is the grand object of this
bill. But that is not all the people need.
The great question is to put stop to the
interest bearing debt, to pay OF the bonds
and to give to Us an increase Of currency.
The amendment OF the gentleman from
Texas has for its object these ends It not
only enables us to pay Off the debt to a
great extent, by purchasing silver bullion
coming it into money, and paying for it in
greenbacks and appropriating that silver
to the payment of the bonds that are paya.
BILE in com, but it puts the grccnbacks in
circulation which are paid for the silver
bullion. Thus itincrcases the circulation
very largely, while at the same time it ey.
tinguishes the bonded dcbtcdness of the
country and stops the interest to theamount
of many millions Of dollars. regard this
amendment as important AS the bill itself
and the author of this amendment Is enti-
tied 10 the gratitude Of the suffering ,yids
s !s o6ccit9R SGtEScSd BY some, that tho bonds
cannot be paid In greenbacks, and at the
same time it gives to the country large
increase in the volume of grcenback cur
rency.
I hope this amendment will be adopted
and then let us substitute greenbacks Tor
national bank currency, and pay of the
bonds upon which they are founded or abol-
ish the banks themselves-which IRE dan.
gerous to civil liberty-wielding almost a
controlling power over this government.
already. Then let us tax the incomes OF
these bondholdcrs, as we attempted tiie
other day, il we can not tax the bonds
themselves, and make the bondholders
bear their proportion Of the enormous OK
penditures of this government; make the
taxes equal aud uniform -"equal rights to
all, exclusive privileges to none." Then we
will have done something In the way Of
substantial rellet for the people Of tho
country And why, Mr. Speaker, should
we not do thisR-
The United States bonds were originally
payable in currency. They were put upon
the market and sold at from forty to sixty
cents on the dollar. One would have sup.
posed when they went up to par 1t would
have satisfied the avarice OF the bondhold-
crs, but II did not. In violation Of the