The advocate., 1891-11-25

Hb6s OOuBKhbuAhbiouS AEUu hAL VAh5ScE
merchants, traders, manufacturers, mechan-
les and laborers-pour in upon US from
all quarters. The boards of trade from
Boston, New York, Philadelphia, Cincin-
natl, Louisville, St. Louis, Chicago and
Milwaukee approved its provisions and
urged its passage as it was. / have dis
patch from the chamber of commerce, Gin
cinnsti, sent to the treasurer, and by him to
me, urging the speedy passage Of the bill as
it passed the House. It is true there was
doleful sound came'up from.the caverns. of
bullion brokers and from the saloons of the
associated banks. Their cashiers and agents
were soon on the ground and persuaded the
Senate, with but little deliberatiOn, to
mangle and destroy what it cost the House
months to digest, consider and pass. They
fell upon the bill in hot haste, and 80 dis
graced and deformed it that it's father
would not know it. Instead of being
beneAcent and invigorating measure, it is
positively mlsChieVOus. It has all the bad
original bill, and none Of its benefits. 1t
now creates money, and by its very terms
declares it deprecated currency. Itmakes
two CLASSES of money: one for banks and
brokers, and another for the people. It
disCriminates between the rights Of differ
emit classes of creditors, allowing the capi-
talists to demand gold, and compelling the
ordinary lender of money on individual
security to receive notes which the govern
ment had purposely discredited.
All classes of people shall take these legal
tender notes at par for every article of
trade or contract, unless they have money
enough to buy United States bonds, and
then they shall be paid in gold. Who is
that favored class2 The banks and brokers
and nobody else.-Speech in House, Febru-
ary 20, 1862.
That is the statement of the chairman
of the committee that originated the bill.
He and Mrs. Emery agree that the
brokers and bankers are responsible for
the exception clause that deprecated the
greenbsck money.
Senator Sherman says it Is one Of the
great pillars of our financial credit.
TESTIMONY OF HENRY WILSON.
It is contest between the brokers, job
bers and money changers on the one side,
and the people of the United States on the
other. venture to express the opinion
that ninety-nine of every hundred of the
loyal people of the United States are for
this legal tender clause.-Wilson's speech
in the Senate, February 13, 1862.
THE VOICE OF HISTORY.
The legal tender bill was no sooner
made public than delegations of bankers
from New York, Boston and Philadelphia
hurried to Washington to oppose it They
organized in formal manner by selecting
a chairman IS. A. Mercer, of Philadelphia),
and invited the finance committe of the
Senate and the committee on ways and
means Of the House to meet them at the
office of the secretary of the treasury, Janu-
ary Ii, 1852. The invitation was accepted.
At the meeting which followed the bankers
spoke in opposition to the bill. = The
bank delegates remained in Washington
and held further consultations with Secre-
tary Chase, extending through several days,
which resulted in an arrangement with him
TO the effect, among other things, that Con-
gress should be urged to pass the national
bank bill, etc.-Berkey's Monetary System,
1876.
TESTIMONY OF VIM. D. KELLEY.
l remember the grand old commOner,
Thaddans Skavana. with his hat in his hand