The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-02

have my nearly support. IueIe 10 ~
nor for two weeks to come. as q measure
OF relief Its effect can not be lnstan-
tancous, do not think y is IN the pHTwee
the country from the financial embarrass-
ments and pressure which are now upon
It Time must work relief Wise laws
ing tide Of prosperity, which. when
shall come back, should rest upon souhn
basis. That, think Is o AL ina' 10 ev do
You can not suddenly make a nation pros
porous nor cure the Ills OF extravagant.
corrupt AMI reckless administration. Ey-
cess and improyldencc must bear their
punishment. All you can do Is to Set
your administration upon path OF econ
omy and honesty. that gradually pros
perity may grow again.
Following In tho same limo Of argument
Hon. william T. Hamilton of Maryland
said.
"Mr President, am as much In favor
of an early return to specie payments as
any gentlemen on this floor. and proba-
bly, more SO than those whom have the
honor to address. So far ms l am person
ally concerned, would make a short
work Of II. I have no panacea- but
would repeal the legal tender act. and
that would settle the question very soon.
If senators expect these measures OF relief
to extend through series Of years. with
intervening sessions Of congresses to sit,
and that at the end Of that time there Is
to DO redress of 30 great wrong as
was perpetrated by the enactment Of the
legal tender act without any suffering,
| they are very much mistaken. When
you have departed from what is right,
In getting back to it there must always
be trouble, and the country Will suffer
before 1t gets back TO resumption OF
specie payments Before we reach that
great result the people will suffer and
all branches of industry will suffer. You
can not legislate this people or this coun-
try out of that suffering You have com
mitted a wrong. ana In getting back to the
right you must expect to encounter DIFF
ficulties You might as well come to II
first as last. and bear what you must. for
now Is as good "a time as any you may
have. when there Is but 10 per cent be-
tween paper and gold Take what the
executive has recommended-repeal the le-
gal tender act, and let the people adjust
the relations that must then surround
them. Interests take care OF themselves,
and soon there will be sounder and bet
ter condition OF things, and while some
fact. ought not to do 1t, the aggregate
result viii be good and the hardships
themselves will moi be as great as may
be anticipated by those who dread speedy
and effective resumption.
I'VE must get to 1t by more or less suf-
ferng, as did the people of England when
| tney FhCOlfltu their IeDaSeu currency uI-
, der William Of Orange. 1t was not by
years OF studied and adroit legislation
that It was done. but 1t was by the brave
hearts and master minds of his cabinet
that Great Britain was indebted for a cur
rCncy In coin that remains 10 this day
II you win read the description of things
in England in the six months that trans
prei from the time all the debased coin
was to be covered into the mint and re-
coined and Issued to the people, you Will
have an Idea what the suffering OF that
people was and of tho gloom and terror
that then prevailed. But the men who
controlled affairs there were never shaken
for an instant from their settled purpose
of redeemlng England from curse of
currency that was eating out her vltals
So here | care not what you may say
or what you may think or what you may
do you can only come to the resumption
| OF specie payments really ana truly When
| this PEOPLE are willing TO bear the natural
consequences of their wrong doing in tho
! beginning. You must start in curtailinS
/ expenditures, in living economically, in
! doing without that which you can. not
| buying one dollars worth more than you
/ actually require and only that when you
| have the money to spare In other words,
! before we come to resumption of specie
| payments we must come down to hard
pan, individually and as Nation"
These warnings weighed as naught
against the mandate Of a party caucus.
The bill, In its original form. providing
for resumption OF specie payments on
January /, 1879, was rushed through and
| became the law of the land The POSSIBLE
| by Meesrs. Bayard and Hamilton did not
| 9Sald 0ulouU nun soAlSsuSql ls5gluBH
of republican legislation. with the same
! tiles OF disaster SO clearly pointed out
! sponsor the Sherman silver act, upset
| the equilibrium of the National finances
and converted the constant redemption
ana reissue OF greenbacks into the one
/ great obstacle to our return to stable con-
/ ditions. The record proves that our finan-
/ cial ills are due to republican disregard
/ OF the most solemn warnings. The party
3 leaders have now to face the conse-
qucuccs OF their party's errors. and the
! obligation resting upon them to provide
the only possible cure can not be evaded
| or ignored