Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-04-06

all money, Wnetner coin OF PaPer,
was to be manufactured and
issued by the government directly
and was to be legal tender. Never had
proposition of such vast and far reaching CEN
tralism been offered in Congress. 1t surpassed
all centralism and all Csesarism that had ever
been charged on the Republican party in the
widest days of war of the acts growing out
of the war prior to 1862. The widest dreamer in
American politics had never been wild enough
to propose such measure of Capitalization.
The second point involved in the resolution
was that the government should pay its public
debts as well as its private debts in such man.
ufactured money notwithstanding the solemn
and acknowledged pledge of the government
to pay in coin the interest and principal OF it's
debts.
Mr. Ewing-The gentleman certainly mis-
understands the resolution. 1t declares that
the public debt shall be paid in the money of
the contract.
Mr.. Garfeld-And any money that the gov
ernment shall now or hereafter issue is lawful
money, and therefore the money of the con-
tract.
Mr.. Ewing-That is a mere bubble, and
misunderstanding of the resolution.
MIR. Garfield proceeded with his remarks in
opposition to the resolutions. There was
third proposition in the resolution. There was
to be no refunding of the seven hundred and
eighty millions of bonds which would fall due
this year, or next year, but they should all be
paid not out of the resources of the nation, but
out of the manufactured paper. Print the
debt to death. That was the way to dispose of
it. The resolutions said those three PROPOSE
tions made triple headed monster
that was to be let lose the country as the last
spawn of the dying party that thought it had
a little life in it year ago. 1t was put out
at this moment to test the courage of the two
political parties. 1t was put out at this mo-
ment, when Presidential growl came from all
quarters, to see what the parties would do
with it. For one, he said meet it, throttle 1t
in the name of honesty, in the name of public
peace. in the name of the rights of the people
individually against Capitalization worse
than had ever before been heard OF. Meet it
and end it like men. Let both parties show
their courage in meeting it rather than in
bowling before it.
Mr.. Kelly said there never had been dollar
or q shilling of money that had not been made
by the government. There was no other power
to make money. ALI that the gentleman from
Ohio, Garfield had said on that subject was
balderdash. He stood here with the widest of
dreamers, of which the gentleman spoke, with
Thomas Jefferson, and he would vote for the
resolutions because, in the language of JEFF
ferson, it would re-invest the government with
power to control and issue its circulation. No
funding thank God. There was no prospect OF
funding either in thirty or forty years the
bonds. Secretary Chase had never said wiser
thing than when he said the control of the debt
is vastly more important than the rate of inter-
est. If Congress made thirty or fifty year
bonds, it would pay in premiums to the MEM
bers of the syndicate more than it would ever
save by having reduced the rate of interest
of the bonds.
Mr. Weaver considered himself happy at hav-
ing at last been able to get vote on his resO-
lHtions. He was not surprised at the opposition
of the gentleman from Ohio, Garfield. That
gentleman stood in the road, blocking the
progress of the people for financial reform.
The gentleman assailed the resolutions, first,
because it proposed Capitalization, and second,
because it violated the public faith of the gov
ernment. There was not one word in the reso-
lutions looking to violation of the public
faith or payment of the public debt in any,
thing except in coin. As a representative of
the National Greenback party he wished to
say that that party was opposed to violution
of the public faith and the reputation of any
part of the public obligations. Let the issue
be fairly and squarely drawn. The
issue was whether the government should
issue currency and control its volume, or
whether the banking corporations should do
so, and he was content to 60 before the people
on that issue. Capitalization, indeed. That a
Congress, chosen for two years by the people,
vas not to be trusted, but that the bankers
were. In the name of the public faith, in the
name Of the laboring millions of the country,
,iu the name of soft money Republicans, In the
name of the farming interests in the name of
the humble poor who struggled not for office.
in the name of all interests on which rested the
peace and perpetuity of the Union, he asked
Congress to stand up and assert with Thomas
Jefferson that the issue of the circulating me-
dunn should be taken away from the banks and
restored to the government.
After a short debate a vote was taken and the
resolution defeated, yeas 81, nays III. The
following is the affirmative vote: