Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1881-11-03
tee he represents propose this congress
shall put out to the world:

USt VI pOlu OI SILVER COlH VI
greenbacks, or national
bank notes
Government will collect from the people
with the Army and Navy, if necessary,
taxes to this amount, and pay in
quarterly instalments fer
the next twenty
years.
y. Il Ninety per cent of the purchase
money will be returned upon lRwiulap-
pliCatiOn in national bank notes, so
called, issued by the treasury,
guaranteed by the credit
of the people and q
partial legal
tender
My colleague Mr. Price introduced
q bill to abolish the two cent stamp
upon bank checks, and his argument
yesterday was that this tax was war
measure, and therefore should be
abolished. This same argument was
used against the income tax which was
abolished and against many other tax
es that have been repealed. | wish to
remind the house that these bonds were
a war measure only, and therefore
should be abolished. They are the
black monument to commemorate, like
ahOrrid nightmare, that fratricidal war
and in the name of peace and unity
and brothegly love, in the name Of our
common country, demand that they
be abolished forever,
The pending substitute for this re-
funding bill which | had the honor to
submit, proposes to ply these bonds,
not to reissue them; to reduce the in.
terest, not to per cent, with eXemp
tions from taxes and other advantages,
but to reduce it to nothing. 1t pro-
poses to end dangerous mOnOpolies, not
to foster them. 1t restores to the peo.
pie the highest prerogatiye of soycr-
eighty, the direct issue of the money.
1t divorces the political from the money
power. 1t converts bank notes into
greenbacks, and thus enables lis to pay
S34i,OO00OO Of these bonds at once,
without increasing our currency, with
out taxation, and without injustice.
Section 6l Of the national bank act
provides that congress may at any
time, alter, amend, or repeal this act"
My bill reimpOses the income tax upon
large receipts, thus compelling the
wealthy to help lift this load.
If adopted, it wOul / b. the second
emancipation proclamation to the peo.
pie from the slavery of usury and the
domination of banks. II utiiizes most
of the idle money of the treasury and
sends it out to bless the country and
relieve the great stringency in the
money market.
Such famine for money exists in
our great money center. New York
city, that it has recently commanded
100 per cent interest, and | elm from
last evenings paper Il statement that
some bankers are begging for a new
kind of paper money:
"Application was made last week to
Comptroller Knox by certain New
York banks that they be allowed tp
use assay Office recaipls aa part Of
their reserve in order 10 relieve the
money market
In the face of this alarming con
dition of things wcare as Indifferent as
Il Chinese god, and talking about ssu.
ing more bonds, instead Of paving them
off and supplying business with It's
vital breath--money
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ID III 'o'S VI'"n Two Years
| appeal to members OF this house,
without regard to party, to sustain my
substitute and vote down this scheme
to issue 2O-4O bonds. | believe the men
who lend themselves to this measure
will be held to strict account Ivy their
outraged constituents.
Mr.. Chairman, | oppose this refund
ing bill because it conflicts with free
institutions, because ! am unwilling
this government should continue to
collect taxes for the support and emolU-
ment of private citizens. | oppose it
hppluSp IL sIlhsprvas thn Tau nt thn ~