Year: 1866

Speech Of Senator Smith ON the Bill En-


dorsing the Action Of Congress in Es-


tablishing the National Currency.


On Saturday Senator Smiths bill came up
for argument az follows:


An Act to more clearly define Acts OF the
Congress of the United States in their appli
cation to the State of California.


The people of the State Of California,
represented in Senate and Assembly, do enact
as follows:


Section l. The Act of Congress making
Treasury notes legal tender in the payment
of all debts is hereby declared to be in foil
force and effect in the State OF California,
according to the terms Of said Act.


Section . All Acts and parts of Acts that
tend to permit persons to waive or annul the
full force and effect of said Act of Congress,
are hereby repealed.


Section 3. This Act shall take effect i'm
mediately.


Mr.. Smith said


Mr.. President Il would prefer. at this
time, to give way to q motion TO place this
bill at the head of the general file for Tuesday
next. To day we have a slim Senate, most of
the Senators being absent from their seats.
Ii is desirable, sir, that this measure should be
considered. and that it may be passed upon by
the judgment of the entire body. l hope some
Senator will move TO postpone further consid
Grafton until Tuesday next. From the silence
of Senators apprehend that the opposition
have the power-that the requisite number TO
defeat the bill are present. l shall therefore
be compelled to proceed. Mr.. President,
Senators need be under no spprehension-I
shall not inflict upon them long speech. The
time for much speaking. for long speeches has
passed the hour for action has come The
three hundred bills yet before the two branches
of the Legislature, admonish us to husband
our tme-,o see to it that we waste DO more
time in useless debate. propose to be gov
erned by this necessity, now and hereafter
until the close of the session. / do not believe
that the people of this State have the power
at the present session to inaugurate any
measure tending to lessen the rate of interest
or to make capital accessible to themselves
they must remain yet little longer in the
hands of the capitalists the element that has
long ruled The State. The money of the nation
the currency of the people, adopted and now
used by thirty millions of the citizens of our
Republic in all their transactions of fe can.
not be introduced into this State; the power
that holds this commonwealth 10 the hollow OF
its hand, combined. concentrated capital will
| not permit it. Sir, capital has too many friends
on this h0or-for the interest of the people to
be served, there are too many greedy money
lenders here but the time will come when the
voice of the masses will awaken their represen.
tatives to a sense of their duty. Mutterings Of
an offended, wronged people are even now
coming up from every quarter Of the State
and ere long the deep thunder tones of indig
nation will roll around the walls of the Capt.
tol, admonshing those who hold seats on
this floor to beware how they trf1e with the
demands of tie people. For the present, the
people have DO hope, nor will the day of their
deiverance come until they shall overthrow the
tables of the money changers, aud scourge
usurers from the rooms of their Capitol.
The Specific Contract Act must remain OF
the Statutes of this State-tbe power to wipe
ont the most obnoxious law is in the bands of
the people, and they must see to i. that they
are not again m,srepresented Two years more
must perform their circle ere relief can come.
and then if the people are true to themselves
the harvest of the greedy money lender will
be over. and reason and justice will have their
triumph. In ten years accumulation of law,
not one can be found tending TO promote or
advance either OF the great leading interests
of the State. During these ten years capital
has held high carnival, innumerabe corpora.
tions have been formed the powers of the rich
have been extended, exclusive franchises have
been granted, near two millions of the peoples
money given away to railroad corporation,
the people loaded with heavy taxation, and this,
this is the simple, yet truthful story of ten
years legislation. The working classes of this
State are now before US, asking but simple
justice at our hands, pettioning Senators to
make eight hours the legal limit of day s
labor. Mr.. President. that bill cannot pass, l
say to the aboring men of the State, your day
has not yet come; your just demand will
awaken no sympathy here. The power that
defeated the repeal of the Specific Contract
Act-the members that will vote against this
bill, will be marshalled against you-they will
move in solid body and in the very FIRST attack
will overthrow and defeat your forces. Your
day has not yet come nor will the triumph be
with you until by concert of action you shall
place in these seats men drawn from your own
numbers-men who would rather serve God
than Mammon. Sir l have no hope of the en-
grossment of this bill. The power that rules
this State will not yet loosen their hold upon
the throats of the people. We must wait pa
tiently-we must wait though we die in the
long dreary night of our waiting We must
wait until the capacious nav of greedy capi-
talists shall be filled with the lfe.giving sub
stance of the people-wait even until the
usurer shall find no more to take from the
people. | desire the ayes and noes upon this
blll-this much shall obtain, and to this end
shall | press it upon the attention of this
Senate. desire the people of this State TO
know and reflect upon The action of those
chosen to represent the loyal eement-to
know just to what extent they repudiated
the National authority and nul6ed an
Act of Congress. The bill now under con-
sideration contains but two sections


1t presents platform upon which all true
Union men can stand-it simply endorses the
action of Congress in making Treasury notes
legal tender inpayment of all debts, and de-
clares that it is not in the power of individuals,
either with or without legislative enactment.
to impair or annul the Federal authority. All
true Union SeDators-those who believe it to
be the office of loyalty, the duty of patriotism
10 stand by the Government in time of peace
as well as war. TO sustain its every policy and
credit, will hold it to be their duty to vote for
the engrossment of this bill.


The converse of the proposition submitted
in this Act, presents platform upon which
State Rights Union Senators can join hands
with their allies, the liberty hating, govern
ment destroying democrats. Those Senators
who believe that il is right and proper to
annul an act of Congress, will now have an