Year: 1869

quarter, following the precedent set in the Nc
! Arde case, the jurisdiction could be repealed


by an act of Cougres declaring that the Su


preme Court should take cognizance of no cast
involving constitutional question. (Laugh
ter.)


The Secretary Of the Treasury in his report


alludes incidentally to the inequality of the


burden Of taxation, and doubtless realizes its


utterly exhaustive influence upon those sections


where no bonds are held and where none of the


interest Is distributed. But he forgot to notice
the hardship, the oppression and the wrong in
volved In the act Of depriving whole commun-


tiles of one-half of their estates without pro-
cess of law and without compensation, and
then taxing the remainder to pay the interest
on claims which rest upon no more solid foun-
dation than their own. Has the Government
kept faith with its own citizens? A dominant
party may defy the Constitution, trample on the
rights of the weak, and sport with their mis-
fortunes; but the fires of fanaticism can not
always burn, the passions Of men will grow
cool, and the day will come when justice and
public faith, benefcent as the Constitution and
broad as the Union, will prevail


II gentlemen really desire to constitute them
selves the peculiar friends and guardians Of the
public faith, If they wish to preserve it pure and
unspOtted, they should pursue course Of i'm
partial justice toward all the creditors of the
United States. In discharging their high trust
let no preferences, partialites or prejudces
warp their judgment or control their actor; ;
and above all, let them do nothing In violation
o.. the Constitution.


The public Indebtedness, large as it Is, is go
ing for the most part to our own citizens, and
in view of their equal rights, pay all or pay
none; or if they can only pay part let them
refer the matter to a master commissioner for
a pro rata distribution of the assets among all
the creditors in exact proportion to their sew
eral demands. Whatever may be the hardship
of such measure it will fall upon all alike and
those who have been drawing the gold will have
less reason to complain than those who have
never received cent 4 discrimination among


inserican citizens is iu 5agrant violation Of the fun
domental principles Of our free institutions, and
fraud upon the equal rights Of the people. Our
Government was established to secure the
rights and to perpetuate the liberties of the
people, and not as an engine ct oppression and
torture to degrade and enslave them


The condition of the country in a financial
point Of view is alarming, and most of the
remedies prescribed appear to be temporary
in their character. Many of them propose in
certain contingencies, 70 issue uiule Douus, as
If the bonds already in existence were not alb
sorbiny the meaus and consuming the substance
OF the people. That relief which comes from
increasing the burden will not meet my appro-
baton. The desperate situation of our affairs





ing and contradictory measures advocated by
statesmen Of great capacity and of enlarged
experience. Scarcely any two agree, and yet
each one has the utmost confidence in the wis
dom and policy Of his own scheme.


The speech of the distinguished Senator from
Indiana in support of his proposition was an
effort of great vigor, and as an intellectual dis.
play would compare fayorably with anything
that has been lately delivered in this Chamber
He began his voyage amid the couvulsons Of
revolutions, circumnayigated the globe, visit
ing England, Germany, France and Spain, and
more fortunate than Captain Cook, he entered
the ports of redemption and reconstruction
with flying streamers, under cloudiesS Skies
and impelled by pleasant breezes (Great
laughter.) He came overland from California;
developing sul11ciency Of gold in that State
and the Territories to pay our debts and put
US on the high road to prosperity, and after all
be returns to US with courage on his brow and
a constitution invigorateu by the tolls and dam
gers through which he has passed. (Renewed
laughter.) If his discoveries should prove of
little value to the currency Of the country, we
can at least rejoice at the restoration of his
health. Whatever may be thought Of the speech
in other respects, it will be the unanimous YER
dict of candid men that it is the most cheering
and hopeful presentation of our financial affairs
that will be made during the present gener:,
ton


The Secretary of the Treasury, with the am
plest means Of Information, seems to be puz-
zled and bewildered by the difficulties of the
situation. He shows very clearly that Web
ster and himself were alike nimical to depre-
ciated currency, and by extending his research
es he might have discovered that other men
similar opinions on that subject
(Laughter) He recommends that Congress
shall pass law legalizing gold contracts, and
| can see no particular objection to that prop
ostion. If persons desire to pay and receive
good money | would make it lawful for them
to do So. In his opinion it is of the highest
Importance that the taxpayiny voters should
be encouraged by the fact that the debt is in
progress of rapid extinguishment. | would
like to obllge The Secretary very much, but |
cannot encourage tax payers by any assurance.
do not believe that the public debt Of the United
States euer can be paid, and the facts upou which
this judgment is based are drawn chiefly from
the report of the Secretary of the Treasury.


The Treasurer, who is q gentleman of the
odentimc, and who speaks about what he
thinks, has indulged in some tolerably plain
talk upon this question. The lower grades of
this fractional currency authorized by Con-
yress are most offensive and disgusting to his
signt, taste and smell. Laughter) He calls
it san almost worthless, irredeemable, poison
GUS and sinking copper and nickel token cur
rency." lie wakes warm as the argument pro-
ceeds, until he challenges the world to show as
mean government as ours (lauyhter) aud de-
cares that an individual guilty of such prac-
tices would be branded as u twopenny thief aud
consigned to a house of correction. The gov
is accused of fraud and open repu,;ii,-
ton; but of all his charges there are none so
damaging and disparaging, so unwarrantabe
and uni uSt, as the comparison to twopenny
thief (Laughter.) This effort to degrade the
government by intimating that its operations
are confined to retail business is surprising
but as it was prompted by sud
den excitement, and is evidently not the result
of deliberate malice, We may hope that time
aud reflection may induce the author to modi-
fly or retrac5 the asperson. (Laugh.er)


Deprecated paper is the object of assault
on all sides, and those who forced i: upon the
are now its deadliest foes. A. speedy
Of specie payments, with or with
out the means, is advocated as sure defence
against all the dangers that surround US. That
SO much may exist in the region where the
bondholders live, but in the agricultural dis
districts there is no such complaint. In my
section the people are neither given to idleneSs
nor to luxury. They have never had the wealth
to indulge the one nor to support the other;
and u man who enjoyed both would not be a
very respectable member Of society. Intelli-
gent labor is industriously applied to a fruit
full soil, but still money is so scarce that any
Of the currency would operate most
injuriously upon the agricultural and mcchan-
ica interests.


Let it not be said that am or have been the
friend of the Daner money Or of any Of the