Year: 1869

in the year OF our Lord one thousand elgnt


hundred and sixty-nine.


atyisetllautons @eaaias.


A REMEDY FOR NATIONAL ILLS.


Mr.. Sprague has, within the space Of one month,
leaped from comparative obscurity to the most
honorable distinction yet attained by any modern
participant in public affairs. His sudden reputa-
ton rests on no dazzling display Of genius, either
legislative or oratorcal It is simply the tribute Of
q nations respect for honesty in q public place.
His utterances in the Senate were at first sneered
at by his fellow Senators, most Of whom doubtless
thought themselves the superiors Of mere manu-
facturer, who was supposed to have gained place
in the Senate on account of his wealth and his re-
lationship to Chiet Justice Chase But the proud
est of them now quail before his unadorned but
searching and practical rebukes Of their apathy to
and neglect of the financial distresses in the coun-
try. On the 4th instant, Mr.. Sprague rose to a
personal explanation, and delivered himself as fol-
lows:


''The people Of the United States will suspend
their judgment on all newspaper articles bearing
on me to my disadvantage The telegraphic sum-
mary of my recent speech, as well as the report in
the Globe, has some material errors. They may
be assured that my words and courage do not rest
on wine or whiskey or any other stimulant, but
upon knowledge of the shrinkage Of property and
the loss of virtue going on around me- My great
anxiety is to effect cure no,o. The remedy is
now accessible. A year hence it may be beyond
our reach. My leading idea is to correct the con-
dition of things of which the following is perhaps
an aggravated case, but it is an illustration Of the
condition of the country. A man in Washington
has s2O 1000 loaned out in sums of $50 to the poor,
at 10 per cent per month, secured by chattel mort
cages. When the victim is exhausted demand for
payment is made, and in default of payment the
property is sold at quarter or half its value.


The plan to correct this, and to place within the
reach of every man of ability and industry capital
at low rate of interest, upon which be can labor
and make profits, is the one I have had in view,
and is substantially the one in use in England,
Belgium, Holland aud France, the most prosper
GUS nations Of modern times. Iwish to adopt that
plan here, and to eschew the plan, the results Of
which are best exhibited by Spain and Mexico and
the South American States. Mr. Sprague called
attention to the State of Kentucky, which, be said
was the most prosperous farming State in the Uni
on, because she had adopted plan similar to that
which he advocated, thus bringing within the reach
of the people the capital necessary for the trans
action of their business. Speaking Of the way in
which this plan could be applied to the whole
country, he said: This is to be effected by the
treasury of the United States, which is first to be
made strong in means, and then is to use that
strength on the market to unlock and distribute
boarded capital.


The present danger, in my judgment, is greater
than when the rebels fired on Sumter and marched
almost on Washington. use no words which are
not properly considered have made no attacks
on individual Senators prior to attacks on me- l
wage war on legislative and executive power exer-
cised by this body and on the disastrous results Of
its action. fany one here or elsewhere attacks
me, shall 'move on the enemy's works. to the
best of my ability. Following out this idea shall
undoubtedly antagonize myself to those who have
been favorites with the people, as was the case in
my last remarks before the Senate, on which some
part of the press have commented adversely. But
let it be so. will not longer sit and hear incor
rect statements concerning our condition-come
from whence they may. To cure the evil we must
know its character and not mistake it. Let those
who think am crazed do as have done for three
years past-examine patiently and without preju-
dice into our exact situation and ask those around
me if there be any substantial difference between
the opinions now avow and those have hereto
fore indicated. My present work is to show that
the plan advise will remedy the evil. This will
take time and investigation. 1t is as clear as the
MONDAY sun to my own mind; but to prove it To-
gcay and with satisfactory reasons is the work to
be accomplished now.


The demand for my several speeches will be
speedily met. have not time to write word in
answer to the multitudes fletters have received
but shall send my speeches into every city and
town, and on them l stand The position have
taken would have failed to effect anything if taken
heretofore; but let the people take it now: That
their action may not have been too long delayed to
effect wholesome cure, is the wish Of the speaker,
who, being under no obligation to living person
for what be is, Except as heretofore indicated,
asks for nothing now but to serve his day and gen.
GRAFTON"