The farmers' union. (Memphis, Mo.) 1891-1895, 1894-02-08

taxation, and with the Aigncat ieSai
that can be be given to them
by the government, placing the
soldiers and the capitalists on the
same footing in regard to these notes.
,Ir. Stevens, of Pennsylvania, said
(Con. Globe, page 600. Feb. 6, 1662:)
The late administration left us a
debt Of about 100000. 900, ana
bequeathed to us also an expensive
and formidable rebellion This com
PEELED Congress at the extra session,
to authorize a loan of $3.50, O0C. .UGU:
800, 900, 600 OF these were taken at
$40 per cent, ana S5O.OO0,uO0 &
per cent bonds at 4 discount of over
$50, 0,OO0,00 undispose,i Of. Before
the banks had paid much of the l;,s
loan they broke down under 1t and
suspended specie payment. They
have continued to pay that loan, not
in coin, bu. in demand notes of the
notes Of the government that has
kept them at par, but this last OF the
loan was paid yesterday. and on the
same day the banks refused to re-
ceive them. They must not sink to
Il deprecated currency. The re-
maniny $50, 900, 900 the Secretary OF
the Treasury has been unable to ne
gotiatc. \ small portion of it, say
so, 600, 900: has been issued at $40
per cent in payment of debt.
Gentlemen are ClamOro us in favor
Of those who have debts due them
lest the debtor should the more e:silv
pay his debt, | Go not much s,wpa-
:hise with such imporlunatc money
lenders. But widows and orphans
are interested, and in tears lest their
estates shonld be baely invested |
pity no one who has his money in
vested in United States bonds, pay
able in gold in twenty years, with i'll
terest semi-annually. But while the
men have organized bowels over the
rlch man $ case, they have no pity on
the poor widow, the suffering soldier,
the wounded martyr to his country )
good, who must receive these notes
without legal tender or nothing. and
who mast give half Of it to the shy
locks to get the necessarles Of life.
Sir, wish 10 injury to any, nor with
our could any happen; but if any
must lose, let it not be the soldier.
the mechanic, the laborcr or the far
mcr.
Mr.. Shellabarger Gong. Globe,
page $50, Feb, 6, 1SG2)
Now, sir. think it must be plain
beyond all vi that if these notes,
proposed to be issued under this bill,
are made of the value imposed upon
them by law. 50 that they will be to
the citizens tie true and real repre-
>entatlves of that amoun, f the in
trinsic wealth of the country. which
Is stamped by law upon them Us their
nominal value. then :hcre can be no
practical injury, injustice or bad faith
N the law that makes them pay :
debt precisely equal to that real value
or wealth of the country, which tha,
note, SO made tender, represents.
Sir, all these obligations OF thi:
government go Ou5 to the peop.t
borne up by al the faith and all t.,
property of the people; and they have
all the valuc which that faith III;
tarnlshed and that property unestim
able, can give them. 1t is not be
cause they lack intrinsic value ;lla
hey need the quality of ''lawrul ten
de:, but is to secure to the govern
ment in their issue their tue value
and to retain for them that true yalu,
AS you pass them: as all agree vo,
must: to your noble sold;crv in field
and to all classes of the people ro
engaged, rs the most presistunt out
SIDE opposition TO this bill is enleay
o:lng to destroy the value of these
SO that out OF the blood CT their sink
ing country they may be enable t,
coin the gains OF their infamy.
There were many speeches mad
for and against the bill. Ga motio'
OF Mr. CrlStleld TO strike out th
legal-tender clause in the original b;I
the vote stood-yes, fifty three: nav>
ninty-three.
Mr.. Holt then offered substitut
for the pending bill The claus
bearing upon legal tender was q
follows:
The within note is reccyahie i
payment of all public dues. exceu
duties on imports. and Is excilan.,
able for bonds Of tbs United State
bearing 80 per cent per amman
payable in coin semi annually.
, This clause made the legal-tende
: function matter Of mcrcIlaue:is,
and the substitute was rejected by
; vote of Tftv-fyp ,paS IN pipn+,- n n