The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1896-11-04

southern senators were seeking, by
svslem of false finance, TO accomplish
what they had failed to do in war. The
article was temperate, digniiied and
earnest. But it seemed to the writer
of the letter below to miss the record
which southern senators had made in
congress; and the other record which
they have made at Chicago and since,
in fomenting sectional and factional
feelings. After looking at the monu-
mental memorials which grace the city
and speak eloquently of its public
shirt, Mr.. Lamb resolved 10 touch this
subject which seemed so important.
This letter was written hastily and sent
by mail 10 the Ne,OS, for the writer was
booked to sail in few hours for New
York. Interest in this admirable let
ter will not be lessened by the circum-
stance that Mr.. Lamb is native of
Montpelier and passed the early years
of his life here. He has made an hon.
orable record in politics and in business,
and the fine traits in his character find
eloquent expression in the subioined
letter:
SAVANNAH, GA, October 1S, 1896.
l have read with interest your article in
this mornings paper, on Secretary Morton.
I txil ahan nj III
comments are suggestive, and l beg the
privilege of adding word in the discus
sion. l am citizen of New York; / am
citizen of the United States. In this larger
relation / am fellow citizen OF yourself
and the men of Georgia and of all the
states. l have an interest in your state, for
this reason, as we'll as because / represent
very considerable investment in your state
by capitalists in New York
For some time have found it difficult to
understand the action in the senate OF some
senators from the South. 1t is hard for me
to conceive how any American citizen Of
intelligence can deliberately and consciously
seek and promote national shame or desire
1t. Hence, will not say that any senator
has done so. A man may err very much,
and be, in fact, the 10y al friend of his
country in his intent. 1 cannot endorse on
any grounds the conduct of certain senators
who have repeatedly by their acts shown
such apparent factional spirit as to impeach
l.
the national government was in such con-
dition in January, 1895, as to excite very
grave fears among US in New York of de-
fault in its payments, and such default
would shake credit through the entire coun-
try, and add to the business stress that then
prevailed. The only relief which was avail
able in season was borrowing; treasury
notes could be issued at low rates of inter-
est payable on demand. Southern senators
looked with disfavor on that remedy and it
could not be employed. Bonds could be
sold at par or more at three per cent interest,
provided they were in distinct terms payable
in gold. The lender made the offer that
was favorable; why not accept it? No, said
certain southern senators, we'll have none
OF it. A democratic administration could
not do this without a new law; it could not
be passed. To maintain the public credit
and to save the government from dishonor-
ing default, bonds were issued in February,
1896 That issue will cost the people of the
United States over S16,000,0OO in interest
paid on these bonds more than it need to
have cost, had either of the other plans been
adopted by new necessary law. Had South
ern democratic senators favored either plan,
it could have been passed.
The revenues of the government are no.
toriously less than its income from taxes.
The government must do one of these things,
in order to make both ends meet: l. 1t
must reduce expenditures to its inc ome; or
or, 3, it must borrow money, to meet its OBJ
legations.
Now, in this situation, did any southern
senator, or any body of them, say tex
penses must be cut down till the revenue
will meet the treasury needs?" If they did
so, have not learned the fact. A revenue
bill, or bills, passed the house at the last
session. The senate defeated them, and
made no attempt to amend them or to
frame substitute for them. Southern SEN
ators were in the adverse ajority, and con-
trbuted to their defeat. That made more
borrowing a necessity again, or default and
dishonor in the commercial sense. So bonds
were sold again.
Later, at the last session of Congress, an
act was proposed in the senate to forbid the
issue of Federal bonds. 1t proposed to
take from the executive the power to bor-
row in the future, except when authorized
by the specific act of Congress. 1t looked
like an act to promote national insolvency,
If some emergency should arise. Yet south
ern senators gave their support to this bill
and made its passage in the senate possible,
and fact.
| cannot explain these acts. They do not
seem to me to show good sense and the dis
erection which ought to control representa-
tive man. II they have the support of any
senator or of any man, from any state, the
fact is the same. / think that man is wrong.
1t is the birthright of an American to es-
pouse such principles as he chooses to add
vocate them where he will, under law. /
would maintain that right for men who diff.
fer with me, as l would for myself. But
some things go deeper than craftsmanship;
they touch the very honor, the integrity, the
good name OF our country; they are funda-
mental; they require action. There is room
for discussion of methods, of ways and
means But there is no room for denial, for
refusal to protect the credit and good fame
of our country. The duty of the Georgian
and of the New Yorker is the same; and it
is paramount duty.
do not discriminate on account of lati-
tude, on account of section-one country
and one flag; one law and all men equal I'M
der it; let the strife be to see who shall most
promote the welfare of this grand common.
wealth. could praise and admire no man
more in the senate than your Senator Cor
don for his noble words in the senate in de-
Tense of the rights of the government to
maintain and execute its laws for the pro-
motion Of domestic tranquility" and the
peaceful movement of citizens and of COM
merce. With admiration and gratitude we
all thanked him in New York