The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1881-01-13
THE WOOD FINDING BILL.
Scheme to Sell the Labor Of the Coun-
try to the Money Power.

Extract from speech of Hon. E. H. elliott
House Representatives., December goth.
In this mad scheme the Democratic pal
ty Of the East and the Republican part
join hands in harmony, wing with eae
other in their efforts 10 serve capital an
sell labor. The solid South is forgotten
We do not hear of troops at the polls, nor c
rebel brigadiers. These campaign cries ar
hushed while upon the supreme que,
ton, who shall own the labor of the land
the lion and the lamb lie down together i
sweet accord and the national banker lead
them. President Hayes and John Sherma
ask for a refunding bill, and Mr.. Woo
champions the Republican scheme
lrcjoice to say, many OF the Western anC
Southern Democrats, and | hope Republi
cans, too will refuse to vote for this swim
die Prior to the late election the peopI
we're everywhere assured that it was tn
purpose of the Republican party to pay thi
debt, and were pointed to the monthly deb
statements, which showed an average month
| ly payment Of IS, 779, go for the five month
preceding election; but the next state
ment after election showed a payment o
only s., 700, psi, not one-haf of the previ
Gus payments and the President in his
message asks US to repeal the law requiring
| the coinage of the silver dollar, (which
ne says, Gin reality Is not q dollar" L
has been the standard dollar of this cOun
| try almost ever since the foundation of the
| Government, 50 much so that our gold
| coins have been reduced in metallic value
/ to correspond thereto. 1t was until 1915
| the only dollar coined The first gold dol
lar struck at our minis is only about thirty
years old, and yet our simple fathers were
all badly fooled. The FOrty-fifth Congress,
| that assured Mr.. Hayes by a two-thirds
vote over his own veto that this Is q
| do}lur, were mistaken. Webster, Wooster,
| the United States statutes are all wrong
| The world is upside down and inside out.
| This coin is not a dollar according to the
| bull OF our infallible President. And as for
| the greenback, he says that is only a debt
| to be paid and retired, Congress and the
Supreme Court to the contrary notwith-
standing. The national bank note escapes
his criticism. No official Of this Govern
ment dares criticise that. 1t is promise
| to pay, like the greenback, and like it, a
partial legal tender But, unlike the green
back, it is issued in the interest of our lords,
the national bankers. and designed to
extort interest from the many To enrich the
few. Hence it is all right; and not
only the greenback but the silver dollar
must 90 to make more room for this royal
money-the promise to pay of bondholders.
Shades of jackson! Was ever a United
States Presidentso shameless in his devotion
to bank corporations and so false to the
people who have honored him?
He further recommends prompt legisla~
ton to complete the funding of the debt
which is about to mature"-not to pay it !;
and here is the bill for that purpose.
These measures, ifadopted, would prevent
the payment of the public debt by depriv-
ing US not only Of money to pay it, but of
the right to pay it, and would largely in
crease it. They show the utter insincerity
of the leaders of the Republican party when
they profess a purpose to pay it. For the
people before election; for the bankers after
election
This bill is the natural outgrowth of the
English spirit of caste and snobbery, which
is rapidly developing here. The same spirit
which we find asking for life-Senators to
govern the people, without being response
bic to them, demands permanent interest for
an aristocracy of fund-hOlders from our
Treasury. This refunding bill would add
as now proposed, over $500, 900, 900 to the
public debt in interest obligations that
must be paid before the principal could
mature. This effort to perpetuate and
increase our bonded debt is an effort to pinch
with famine the men that feed the world, to
make an Ireland of the Northwest and the
South. 1t is the English system OF degrad-
ing and enslaving labor adopted here. The
English per cent. debt has drawn over
$4,000, 100000 from the people in interest.
1 appeal to members of this House, with
out regard to party, to vote down this
scheme to issue 20-40 bonds. | believe the
men who lend themselves to this measure
will be held to strict account by their out
ragged constituents.
Mr.. Chairman, | oppose this refunding
bill because it conflicts with free institu-
tons, because ! am unwilling this Govern
ment should continue To collect taxes for the
support and emolument of private citizens.
| oppose it because it subserves the few at
the expense of the many, and is PROPOSE
ton to issue letters of marque against
our own people. | oppose it because
it places a premium upon idleness and
g tax upon industry. l oppose it because l
am unwilling to see the next generation of
tOlers mortgaged in advance to the Floods
Vanderbilts, and others. | oppose it because
it will build up caste and classes in Ameri-
can society-for every bond is a patent of
nObility--and because there is no excuse no
necessity whatever for it. oppose it because
it is designed as a cornerstone to be placed
under that fungus Outgrowth of war and
debt, the national banking system. Ioppose
it because | want the ninety-odd millions of
interest now extorted annually from the
people for bondholders used to build national
commerce the cheapest possible transporta-
ton. | oppose it because wish to overthrow
that combination of bankers and gamblers
who now at pleasure create money famine,
and force interest rates to 100 per cent. in
New York City and ruin business men. l
oppose it because | hear the millions of free
men calling to Es 70 block the wheels of this
modern car of Juggernaut in the name of
justice and humanity. 1 oppose it because
all history raises its warning voice and bids
us beware of the quicksands which have
ingulfed others. [ oppose it because WASH
ington, Jefferson, and other early statesmen
warned US over against this fqlly-this dam
ger to our liberties. L oppose it because
unless these bonds are paid and a
different policy adopted other wars are likely
to afford the excuse for plunging into
hopeless debts | oppose it because believe
it to be the policy and purpose of the bank
party to fund these bonds out of our reach
and then insist upon using our surplus
revenue to take up and destroy the
greenback, as urged by the President in
his message.