Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1889-11-27

of the merits of the Homestead as a paper
devoted to his special interests. On the
first of January the paper will be discon
tinued unless subscribed for in due form.
vALLETTE AGAIN. ~ zz
NORWICH. Conn.,, Nov. 4.-EDIToR
OF THE TRANSCRIPT: I will amuses your
readers by quoting from some of the
speeches made by some of the most pro-
nounced Republicans in Congress at the
time the greenback money was being
created, After the legal tender bill had
passed the house and had been sent to
the senate, that body put the word eek
cept" on the back of the greenback. Mr..
Spaulding said: Il am opposed to all
those amendments of the Senate which
make unjust Determinations between the
creditors of the government. A soldier
or sailor who performs service in the
army or navy is a creditor Of the gov
ernnent \ All are creditors of
the government on All equal footing, and
all are equally entitled TO their pay in
gold and silver. Who then. are
they that ask to have a preference given
to them over other creditors Of the gov.
ernment? Sir, it is a very respectable i
class of gentlemen, but class OF men
who are very sharp in all money transac-
tons. They are not generally among the j
producing classes not among those VINO
by their labor and skill make the wealth
of the country, but class of men that
have accumulated wealth, men who are
if you will make the security beyond all$
question. give them high rate of inter-
est, and make it payable in coin.' So
much for Mr.. Spauldlng. Now for few
words from 'Chad Stevens on the same
subject. He said: ''Mr. Speaker: L
have a very few words to say. lap!
proach the subject with more depressions
of spirits than I ever before approached
any question y y have melan-
choly foreboding that we are about to
consummate cunningly devised scheme
which will carry injury and great loss to
all classes of people throughout this
union except one. I have dis
patch from the Chamber of Commerce OF
Cincinnati, sent to the secretary of the
treasury, and by him to me, urging the
speedy passage of the bill as it passed the
House. 1t is true there was doleful'
sound came up from the caverns Of bull
ion brokers and from the saloons Of the
agents were soon on the ground. and per:
suaded the Senate, with but little delils
Grafton. to mangle and destroy what +
had cost the House months to digest, con
slider and pass. They fell upon the bill
in hot haste. and so distigured and de-
formed it, that it's very father would not
know 1t. tnOw creates money,
and by it's very terms declares it depre
clated currency. It makes two classes
of money-one for the banks and brokers',
and another for the people.
But how is this gold to BE- raised? The
duties and public lands are to be paid for
in Uniteu States notes. and they or bonds
are to be put up as auction to get coin
for these very brokers, who would furnish
the coin to pay themselves, by getting
twenty per cent. discount on the notes
thus bought"
Mr.. Howe. of Wisconsin said. 'To
talk of borrowing of your banks the
money to support your army and your
navy, is as idle as for England to talk of
borrowing from her national bank the
money to pay her national debt. \
To continue borrowing of our own
banks and borrowing coin IS impossible.
efforts to lend to the government they
have already been forced to suspend the
payment of specie upon their own notes.
The entire sum of specie in all the banks
in the United States, in May last, was
only $99, 751 .627; of that sum $27, 125, 900
was in the vaults of banks within the
seeded states, and not just now avail
able for the purposes of this government.
Thus the specie capital which the banks
of the loyal states could place at the dis
posal of the government was but little
more than seventy. two millions of dol,
fars. That sum will not defray the ex
penses of the government for fifty days.,
The government may be able to borrow
Of the banks, but the government can
not borrow specie of the banks. If it
borrows anything from them 1T must
borrow, not their money, but their prom
ises to pay money Senator Wilson
said: Passing by the question of con.
stltuti0nal powers. and coming to it
simply as practical question, it is con-
test between brokers and jobbers and
moneychangers ON the one side, and the
people of the United States on the
other" Now fet us see what the late
}la1nented Lincoln said: YES, we may
all congratulate ourselves that this cruel
war IS nearing to a close. 1t has cost a
vast amount Of treasure and blood. The
best blood of the flower Of American
youth has been freely offered upon our
coun,Iys altar that The nation might 1--we
It has been iudeeda u trying hour for the
republic, but / see III the pear future o
crisis approaching that unnerves me and
causes me to tfrnbie for the safety of
our country. AS a result of the war.
corporations have hean eutLron4d, and
an era Of corruption ~ high places will
follow, and the money power Of the
country Will enlenyor to proong It's
reign by Workingnpon The preiudicts Of
|the people. and all wealth IS aggregated
in q few hands, and the republic is de.
strnyed. feel al this moment more
anxiety FOR the safety Of my cenntry than
ever before, even in the midst OF war.
| God grant that my suspicious may prove
gronndless. !" The men who uttered The
above sentences Were not sconndrels, but
were fighting against sconnlrels If Lin.
coin had have lived until now he would.