The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1896-10-30

navy is Z creditor Of the government
The man who sells food, clothing and
material Of raj for the use Of the army
and navy is a creditor Of the govern
ment. The capitalist who holds your
Z $40 treasury notes, or your s per
cent coupon bonds, is a creditor Of the
government. =
Il am opposed to all these amend
ments of the senate which discrimin-
ate in favor of the holders of bonds
and notes by compelling the govern
ment to go into the streets every six
months to sell bonds at the market
price to purchase gold and silver in
order to pay the interest in coin.' to
the capitalists who now hold United
States stocks and treasury notes here
tofore issued, and that may hold notes
and bonds hereafter to be issued,
while all other persons in the United
States G%ncluding the army and navy
and all who supply them with food and
clothing) are compelled to receive legal
tender treasury notes in payment OF
demands due them from the govern
lC1 w ny 11dht LulS ulSCl :
Who asks to have one class of creditors
placed on a better footing than another
class? Do the people Of New England,
the Middle States, or the people of the
west and northwest, or anywhere else
IN the rural districts, ask to have any
such discrimination made in their fav-
or? Does the soldier, the farmer, the
mechanic, or the merchant ask to have
any such discrimination made in his
favor? No, sir nc such unjust prefer
ence is asked for by this class OF men.
They ask for a national currency,
which shall be of equal value in all
parts of the country. They want a
currency that shall pass from hand to
hand among all the people in every
state, county, city, town and village in
the United States. They want a cur
rency secured by adequate taxation
upon the whole property of the coun-
try, which will pay the soldier, the
farmer, the mechanic, and the banker
alike for all debts due.
who, then, are they that ask to
have a preference given to them over
other creditors of the government? Sir,
it is a very respectable class of gentle
men, but a class of men who are very
sharp in all money transactions. They
are not generally among the producing
classes-not among those who, by their
labor and skill, make the wealth of the
country, but a class of men who have
accumulated wealth-men who are
willing to lend money to the govern
ment, if you will make the securities
beyond all question, give them a high
rate of interest, and make it payable
in coin. Yes, sir, the men who are ask
ing these ~extravagant terms, who want
to be preferred creditors, are perfectly
willing to lend money to the govern
ment in her present embarrassment, if
you will only make them perfectly Sc
cure, give them extra interest, and put
your bonds on the market at the mar
ket price, to purchase gold and silver
to pay them interest every six months.
Yes, sir, entirely willing to loan money
on these terms! Safe, no hazard, Sc
cure, and the interest payable in coinH
Who would not be willing to loan
money on such terms?'
In closing the debate on this bill, Mr..
Stevens said:
But now N the main clause.
Ali classes of people shall take these
legal-tender notes at par for every ar
ticle of trade or commerce, unless they
have money enough to buy United
C+o+oc horIc or1 thor +Ioyy cloI1 lo
paid in gold. Who is that favored
class? The banks and brokers and no.
body else. They have already $780,
000, 900 of State debt, and their COM
missioners would soon take all the
rest that might be issued. But how is
this gold to be raised? The duties and
the public lands are to be paid for in
United States notes, and they or bonds
are to be put up at auction to get coin
for these very brokers, who would fur
nish the coin to pay themselves by get
ting 20 per cent discount OF the notes
thus bought. Il Il *" .
But instead of a discount of 20 per
cent as predicted by Mr.. Stevens, the
bonds sold at a discount Of &c per cent.
When Mr.. Stevens finally returned
from the conference committee it is re-
lated that he wept as he exclaimed:
1--WE have had to yield. The senate
was stubborn. We did not yield until
we found that the country must be lost
or the banks be gratifed, and we
sought to save the country in spite of
the banks"
How different with the men who