The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1893-09-01
SENATOR VOORHEES, SPEECH.

man law Internationally, yet we read
his great speech with a great deal of
interest and consider some of the
points made as incontrovertible. We
give its salient points with which We
fully agree.
..No one believed that there was
want of confidence in government
credit or in the stability of its cur
rcncy.
american credit was better today
than that of any other country on the
globe.
"The interstate commerce of the
United States alone exceeds in value
the entire foreign commerce and car
rying trade of Great Britain. Germany.
France, Austria, Holland, Russia and
Belgium put together,
Legislation had checked our for
eign trade and we had not today y
commercial friend in the world. Money
was creature and congress was it,
creator. Gold and its alleged intrin
sic value went for naught rs circula
ting medium unless the coin bore The.
stamp of the government.
1.-The same official stamp on silver
or on paper at once enabled them t.
an equality with gold in purchasing
power. no matter how debased or valu
less the material may have become as
commodities by sinister or unwise leg
islatiOn.
He referred to the greenback cur.
rency of 1862 and the exemption
clause as follows:
''Fhe bar sinister was written on its
escutcheon when it was made non-re-
ceivable for custom dues and interest
on the public debt, and it was dis
graced before the world.
''Mr. Voorhees, cOntrasLed this unjust
and dishOnOrable arrangement with
the craftsmanship of France, in the is
sue of assignats, after the Franco PruS
sian war, with full legal tender quail
| ties, which enabled her to maintain
the strongest financial credit in Eu-
rope.
1.-The Sherman law, he said, emana-
ted from the enemies of silver mOneV
and its purpose Was to degrade, dis.
honor and disgrace this one of the
precious metals, by reducing 1t to a
commodity.
This was Republican act, not d
single Democratic senator voted for 1t,
and now its author stands ready tn
vote for the repeal of this most dan
gerous makeshift ever known in fnan-
cial history.
at will be remembered that John
Sherman said recently in the senate
that the bullion purchase law was pas
sed to prevent the free coinage o.
silver.
1.-THE demand for the issue of more
bonds was a capitalistic campaign.
"He did not believe that silver had
driven gold from the country. After
the partial reconciliation of silver in
1873, the government coined for IL
years $24,0OO,oO0 of silver annually,
and meantime The gold in the United
States increased $40, 900. 900 annually.
He attacked the national banking
system and said: ''The great evil of
the system is the power of the nation.
al banking corporations, unrestraiEed.
unrestricted and unbridled power to
contract and to expand the currency.
'.The national banks were between
the government and the people and in
their vaults lay millions and even
hundreds of millions-nOt less than
two-thirds Of the amount dedicated to
circulation upon the books of the ma
tional treasury.
He defended pension legislation
whi:h operated against the contract
ing power of the banks aud put out
among the people s16. 100000 annu-
ally.
Even the pension rolls of the gov
ernment-those records sacred to the
blood and tears of miIiions-shed for
the existence of the union. had not es-
capped the vindictive and determined
assault of the millienaires
Pension money going everywhere.
was one of the greatest sources now
left to the people in the way of cur
rency independent of the contracting
retiring power of the bank and hence
the assault
While opposing national banks and
favoring state bank issue. he said:
1T was the plain duty of the gov
eminent to increase the issue of its
own unassailable notes by the pay
ment of its debts. and to issue them in
amount equal to the requirements of
trade as nearly ascertainsd as possible,
bring them within the reach OF nation
al life. honOred in every village and