The Richmond palladium. [volume], September 23, 1874, SUPPLEMENT, Page 2, Image 6

About The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875

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2
.niTVCTTHVC Ho the public ereditors-to the holder
ssj a ;greenbaes-n tbs Ath of June. lso.
NATIONAL
Financial Soil
mocraey.
AVU navtov nf (hA TrMiinnrtt firm ' people who w. to holding greenbacks h id Ieirnod
ADXO IteTieW OI Uie 1 raMponUOn : ,im.t, ..,.: T,i. on the fcrobabilitv of the
Issues.
The Supplementary Civil Itishts Bill.
Speech of Ho. Daatel . Pratt, TvlUi State Sen
tor, at ICeadallvUle, aagast S3, 1SJ.
Lsdier to GeTLji!i I com before yon to
day tot the purpose of discussing ome of the
eueeticn which agitate the people of the State
and nation. I shall Dot. probably, find time to
speak to you upon any questions of partly State
policy. I propose to speak to yoa of the finance
of the country; upon the transportation quel
tion, upon, the supplementary civil rights bill
and likewise if I should find time to indulge in a
review of the things accomplished by the Republi
can party in this State and in the nation during
the last thirteen year. And first, as to the
FINANCIAL QUESTION
that Is what conies home to every private inlivi J
ual. Money is the measure of Talue; by that we
estimate the value of labor and the value of every
species of production. We do not say that a man
is worth a thousand head of cattle or a thousand
acres of laud, neither of which express ions would
he definite, riecnuae tonvevinir no idea or value.
Uut we sr that a man Is worth ,i)ifl land or
l-i.UOin cattle, KB the case may be. Sowsll persons
ajrrce that the constitution of the country recog-
- i i i . , 'i i. - . ..
l litis money luiucu vi nui't ui n w . mi. wu-
litutiun confers upon Congress the power of coin
ing money, which implies metallic money, and
It forbids the Htte from making anything but
gold and silver a legal tender tor dobts. liut ever
Etnee oar.earerr as a nation began we hare
ten aecustouied to paper money, paper eur
rency representing money, issued either by the
government or by banks anthorired by the States,
l.rmi v remises to nay. noon demand, money.
.Before the war we had a mixed currency consist
ing of pipi money Mned by the at.ite banks,
iud gold and silver, amounting in all probably
to Swi0.fMt. la the first year of tho war the
bank all suspended, and it became necessary for
the government, alter having borrowed from the
banks all the money they bad to loan, te provide
ays and means fur obtaining supplies for the
army and navy, and for paying the soldiers and
failing, paying contractors, eto., and hence it au
thorised the issue ofTrensury notx. Humiy
remember the old demand notes which were re
ceivable tor nuttoms, aud which were utou a par
with gold. The notes Congress convert? 1 into
Win pood. But on fie ot reoruary, inc.
nieuiorable act was passed. Thnt law authorised
tlie issue of 1mi,UO.iX) of United States noes,
commonly called "greenbacks." It also author
ised the i.ue of .nAi,( uo,Oi'Cj ef 5-Q bonds, and
authorized the conversion of the greenbacks into
bonds, en I it likewise authorized the conversion
of the outstanding indebtedness, tlie floating in
debtedness of the country into 5-20 bonds. Sow,
as this wax the origin of the greenback currency,
ml the origin of our bonded debt proper. I want
to piiuse right here, and at the expense of being
considered dry, explain to yoa whnt our
United Stated notes or greunbacks are.
and what a a-tt bond is. It is called a 6-JO bond
because it is aa obturation payable to tho bearer
twenty years from datu, -with the liberty on the
part of tho government to take it np at the expi
ration of five year. I need not say that these
bond were issued by the government only for
value received. Tho law authorised the Treas
ury Dcnaitunut to accept greenback in equal
exchange for these bonds. Likewise tlie outstand
ing treasury notes could be converted into
them.
Next, whnt is a greenback? It is an obligation
of the government, payable on demand. It is
Lay-able in coin. It is exempt from taxation.
In these three particulars it agree? exactly with
fhe.Vyu bonds yon bear referred to so often.
They are all blu.-ntion of tlie United states ef
equal degree for the payment ot money, and they
are all equally exempt from taxation understate
or municipal authority. The only difference be
tween them is that crcenbneks do not draw inter
est, while the bonds do. Thero is another differ
ence, thnt tlia greenbacks are due on presenta
tion, whilo the bonds do not tall due untiltweuty
years from dute.
In lx! Gongres fonnd it necessary in the prose
cution of the wur to creste the nal ionul hank
system. Most fill, if not all. existing banks were
created under the amended national rank act of
lsU. The system is, therefore, ten years old- Our
dinting currency consists: first, of greenbacks;
coniily, national bank notes; thir lly. of lrae
tionnl currency, and the sum total of the three
is S.nJ.UsJ.iMH!. in the following proportions:
Last winter Congress fixed the maximum limit
of the greenbacks at -':2.nLJK the national
b-ink currency limit at SJM.iJO.fW. and about
f Mi.non.onu fr.ietion.-il currency afloat. All this
currency origintted duying the war, and grew
cut of the necenifi ties of the war. It is greater,
doubly greater tlun the Stjto bank issue at any
period of our history. Thus, in 1S', wh n the
Mate banks had reached their highest limit of
tS'ue, the amount only reached $j8,(KM,(XX.
The country has been very much agitated over
this question, which arose from this great vol nme
Ot paper currency. Can we return to a condition
at specie payments? And when
government beine rtble to take them ud and tat
them on in coin. They were ansared by Congress
in this Law: "Take tnis additional batch of one
hundred millions, and the faith of the country is
pledged that not another greenback shall be
issued swelling the volume beyond the
limit of four hundred millions. Very well;
that amount was absorbed and it is still afloat in
the country. Sew I held that the democratic
theory cannot be carried into effect with good
faith to repeal this law, which was in its nature
a nermanent covenant of Congress with the peo
ple that, coma what iniitht, the $4 s'i.'vO.iaai limit
thuuld never be exceeded. This Law is a very
abort one, and I be-, in this connection, to read
it to yon. Section 2. June 3.', 134: "Xor shall
the tots! amount of United States notes (that's
greenbacks) issued or to be issued, ever exceed
ituu.OoO.Ufcti, and such additional sum, not ex
seeding ,iO,0o0.OW, as may be temporarily re
quired for the redemption of temporary loans."
I pmse right here to say that here is
arrumcnt enough that the Dcmoeratio theory
cannot be carried out. It is forbid ien by this
law. If th 6-1X1 bonds cau be redeemed in green
backs at all, it can only be done in such as were
authorized by this and previous laws. That
tliinit is inexorably fixed, and can
not be exceeded. That is one rensoa. I
have another reon which I think is still more
forcible. I now call your attention to the act
to which I have before referred, the act to
strengthen puhlie credit, passed lfeih of March.;
l"e', which reads as follows:
Be it enacted, etc. I call your attention to t!ii
law because the Democratic party propose, if
thoy succeed, to repeal and trampie under io it
this law. They say that it is repc!ni! liUc any
other act of Congress, and they intend to rcicl it
whenever they come into power.
"Beit enacted, etc. That in crier to remove
sny doubt ss to the purpose of the aovcrnment to
discharceall its obligations to nub lie creditors and
to settle conflicting questions and interpretation's
of law by viitue ol which such obligations have
been contracted, it is hereby provided and de
clared that tlie la tH of t'ae United t't ites is sol
emnly pledged to the paym- nt in coin, or its
equivalent, et all the o!,i, iations ot the Cnitcd
htittes tinit comprehends the grrvntanks anil of
all the interest Lcaring obligationsthat compre
hends the 5J!) bonds, and all other bonds,
except fn ras"S where the law authorising the
issue of any such obligations hns ej-peeinlly pro
vided that tke same may be paid in lawf ul money.
or in oll.cr currency tuan gout ami silver. 1-ut
none of such intcrest-bearin g oblitutione, nut
alre-idy due, shall be redeemed or paid before ma
turity, unless atsneh time the United States notes
shall be con verted into eoiu, at the oitiou ot the
bolder, or unless at such time
tM bonus ot the Lu.U- t Mates have
a lower rate of interest, and tao;e to be
redeemed can be sol 1 at pirin coin. 'Chen fol-
lows-this provision: "And the United Ffitesnlso
sotoinnly pledget its fait.'i to make provision at
the earliest practicalde period for the redemption
of the liniU-d Stats not s in coin." Mow, t iesc
United States nou s to be redeemed in coin are the
greenbacks with which yon arc lamiliar.
Uere, then, we have formal declaration msde
by the Congress of tho United States, as to the in
tent of that law. Astoi ao meaning of thc.-e oo
ligRtioni, we have an avcrmeut that when they'
authorized the issue of these bonds they rucuut
that they should fa payable in coin, and the!
pledtfd is here given ttiat at the earliest nraeti-1
eabie momeut the I'nited r?tate will cause these
oramisaton oi nine wen to o trustee or trustees shall pro i le sm a other inc. as
B'?e great tedcral J udicial ol eluiatun f r said children' s cs tUeir prw
t nitej t-utes. eminent, I portion, according to nuu-bcis, tt sckaol uioue.'
. 'o me oest auvantage
statdish rea-sjnable tolls Th-Ml C,,. .
s ef .the roads ot lbs Tarioas : jot ,;: -,
. which, ty combustions, formed, bcA.re t'hem .,ra. 1
S lines throupa two or mre States. ' a JVi inli t he I h
.authorised, to examine tiie books and i fip.'SatiLw the
of the 'paid would never be lower than they are to-dav. t settled. Tn this act it is dec'ared that the faith 'representative from the great agricultural Statefmay be consolidated and form one di'f-Ict. But
when t us I Vou take l.ot down aud give him several sears! of the United States is solemnly pledged to -of Iowa introduced in the lleu-e oi Keprrseata- if there are not a sudnt number within a rcaa-
ii.iv wnicn l sti&ii rrewoi t rniu. was uumh. iu mi iuf rrint mucr. iBiiifmocnu rameuiuciao pavEiieiii i coio vr n t-ii i . , , a uw vi iuv i uiiru 7vhuib ui?wauci u 1,0 mus cinsoiiLitTei. ins
. . . i mat tne greeuoacas snouia never oe ueoascx iu power anu aoou me conutry wita greenoacaa ne.iccs ox sae otMigattons ui tao i, m fcri c c , WI , t!rvi' wl, ul"s yn t ,uuMiwr imsns n!i prou n iiuiii oiai-r iumii
illisirit-s ill Lilts l- vi ue bv anv other issue than that auttiomcf bv mas no rtimcuitv then, lie has so i bis lahor atian I ol all mti'rcst-oearine ohligations.-- Ana ttie seiectea ironj m s
I t K A f inn 1 v .1 1 mm. ,il tnMMl h t, , ll r q Tt .1 hrciln tn lur li i w n I hn mm m An VSMntinn ItifVIMEAU ft fttih ST Mimt f 1 1. - L iri'lllTI OI Ulfl
.limit of the greenbacas to 1uu,0u0.mw, pledging ! proportion. He can furnish half bushel of They are quoted as currency bonds. practical men. and they were clptbei : to the best advantage.'
I tlie faith ot the ooantry that tae greenbacks then I greenisacKs in less man no time, and be can lhmk of these things, my mentis. Here is wita power to esionsn rea.-naoie toast The Si-hool Kivartt of Wt,h fv; h w
,.-. k.;Jt..i .r,,.. !. Tl. .lm.,.a ti,.t ..... .v,.ii . r' r,. fc.s t m. i. .i..sl. ... I. u,l r mf tha nw i of ih various 'r A flara oi anasn. ot wni a the HOW.
1 I- 1 - L II' . V - 1. J I . S I . I- I, . I - . . . - , , ; .1 : 1 ; .. S 1 T . . 1 Ti . . . . . . ...... . ' . . , ,
lucunidiit ui luc iuc un?R mi'Urj iu uriim:ift.L-j:auiD. .iiw i u-um.ui i ft u w fvwi . : '
grecn'acks. That would be fun lor him but let them attempt to repeal this law. and ail continuous 1
a- ath tor yon.
tint again, they propose to get rid of the national t
bank currency and substitute greenia ks. be-1
elise thev sm the crfsen tiaki'lr is tliA rlnmitfr fntsal
renev. Is that strictlv true? I know there is a'a new nartv had come into cower and repealed . onerati az their saverxl roads. M bra
popular notion of that sort. T want to demon- the law wherein thev trusted: that the faith of, learned all the necessiry data. then;
strate to you that it is not. The greenback is no 'the nation means a JtUing. and that fur the bonds ;tbey were reqnired to establish a, ,
more taxable by the Statet county or city than; thoy must be content to take greenbacks. schedule of rates to be charged for the ir.usporta-1
the a.'ii bond is. While it is money in one sense, thousb. worth nothing for nse in their j tion of passer gtgs and property over the roads.
and performs the functions of money, yet being I own country, and below par in this. 1 1 And these schedules were to be put ap in public
an obligation of the I'nited States, it is not tax-! have endeavored to present these propositions to i laces, iu the various ethcts of the companies, so
able under r-tate authority. How is it as to the you in a" plain way. so that you would understand i that all persons and the companies themselves
national banknote? There are $.4,ouo.(J0 of'thein. The Democratic party headed their piat- could ascertain just what they were entitled la and
these adoat. W hoever has sny of these nct-S in I form with the five propositions which I read, no more. Then the bill declares that if the com
bis possession or in the Lank, or loaned out on They nrooeed to make the financial question the ! panics endertook to charge extra of the rates es-
the trst of April, must render account on oath as pre-eminent one inn this controversy. I have ; tablished in the schedules they should be liable ;
analysed this proposition, ana put tne question civilly to tne parties, and uauio rriniiuauy.
VI Ul .b vi anv aiiua , 1 " T i , , , , . , t . . .
n u. w mi y
d the admission ot the colored
. v. .. ( x e .u 11.
Christendom would be down upon this act as the , They were authorised to examine, the books aud i incorporated into theiTT i 1.t.in!T ' t sine
most scoundrelly a. t of repudiMtiou upon record-! papers of the companies, to examine the o$r. iSai JSeition "It. 'r f.,? it
swindling men in the Old World out of nntold ' of the companies undeg oath, for tho purpvSJ of j mij.noi" "t,, tfji. fc jrSeJ iV
millions. What would they think to ta told that ascertaining just the cost of constrn. nr.g and when tbia bill' w VL hI; ?LT--tr: Jt. i
- - WT ' . - " IIUIUCIM ilVlTt'Pl'Uiait J-BS II
will as sure as the sun rises the last bulwark of
to the sura, and he must put them on the list a
part ot mi taxaoie property, well, in the sum
total they amount to about S&M.UjD.riuo, and we
have many national banks in this ritate. Their
circulation amounts to about Slo.Utsl.unO. This
national bank currency is in the hands of private
men. Now, not only is this $354,("HVHK) taxable
for (State, county, township, road, school and for
all other purposes understate authority, but the
hanks themselves are ta xed by the states in which
they are located, for State and municipal pur
poses, and also by the general government on their
circulation, deposits and capital; and they paid
uuring tae last ccai year seven minions ol tuxes.
sauare and fair to you as American citneus woo
feel the honor of this government to be as dear to
you as your own personal honor can tie scheme
of the T'emocratie partv be earried into effect
without bringing shame on cur good name
without violating the plighted faith of tae nation
without bringing disaster upon the country
without flooding the country with an irredeem
able issuer without unsettling affairs with
out disturbing prices and postponing
inieCniteiy the return of the country
to soecie navments? Trie Democratic nartv has
made sueh rash promises as this, for the
or witum airacw.not that sum: ami they have reason tnat they have been thirteen years out ot
paia in all 1..'".'0aju to the Luited states since j power, and are willing to maae any promise
wnutever.no matter now extravagant, lor tne
t e system has been in operation. That that the
gveenLa.ks are not the cheapest currency.
purpose of recovering theeonSdence of the people
and returning to power. And here is an appeal
to the lowest passions of the people, their avarice
and cupidity. Were they in power they would do
tne
But it is said the United States can escaDe the
payment of ail interest oa the bonds held by the
u:uks, auu 'n deposit witu tne xreasury xrcpan- i r, . 3 - ..il- V . il L-
inent. by abolisl. ng the system. So itean by j bonest, thing rain the best . hopes ot
honestly paying Ciein off. but not otherwise. Tlie $ou.nt,T-,f!'r the purpose ot stepping twenty
amount ot these bon-ls oil deposit is about S Sa.!,-
niH.iAW. I havo before me a statement of the
Comptroller of tne Currency, showing the differ
ent classes of bonds so deposited to secure the re
demption of the circulating not-a of the national
banks. There are more than i'o.'iVi.KiJot these
bonds, which antedate tueissuoof the greenbacks
and 5-10 bonds, under the act of February. ISi'.j.
and were bought wi'h gold. How did these banks
or
forty millions of interest ruin tae credit of the
country, rum -its prosperity, tor tu pitiiul
a uoiint.
This community, being mainly an agricultural
community, are much interested in the
TRANSPORTATION' QCKSTtON;
Tour condition is not as fortunate as that of the
farmers of New York and 'w Jersey, who live
k Krf.-v Tu i .i,. . . tiara iv unj-water. ournosang tne capacities o:
market. An association about to forma bank j to no equal, you have borne mUcs to
here, for examplu. in the citv of Kendallville. go otrcrcome before yuur property becomes of equal
to Chicago, or Cincinnati, or N.w York, or wher- v-ihie with tneir property. If you have
ever these bonds arc to be obtained, and they buvi'ne.at.an'f .corn w sell or any other
;.-... i.J.n,ik 'stua to" bring away, aud yon can not
tliev ura'u noted. Von pat a six nr cent, hnnii 'sell it about home, it becomes necessary to send it
and von nav a vremiutn often or fit teen re.-r cent.. I ' tua toa-d, to bud a maiaet.
as the cac may be. You deposit these bonds with
the Trr asnier of the U nited States as a condition
of getting tiic circulation for which you arc about
to apply. Vou get only ninety per cent, on the
f.iee amount of your bunds: the iremiuiu count
tor nothine: the ffovermtie
these bonds while they are h
1 nil must nav
the diPcreace between what eastern farmers
property is worth and your own. which is mess
urod by the cost of transi"rtation. The Republi
can party Lias said upon this transportation ques
tion but a few words, but they are directly to the
Foiiit. 1 read from an article of the platform,
n their platform adopted Juiio lTUi, IS. 4, they
it paid interef-t when thev were held by ?! : i lumior saiiis wn w
the individuals who sold them to the those mensnres which shnll recognifo agricultural
soeiaiion tuat formed tho bank. W hat Uiflvrenco i ana mechanical pursuits as enu lea to tne am
is it to the government whtther it pays interest i i'o'" c ' uumuumrah "
to the bank or whether it 'pays inreie-t on t'.c putting a stop to large grants ot tus public do
tonds to the men who owned them beicra tho ":ain to ra:iroad corporations, .and rcteryrag it
bauk acquir-d tium? xNow look over ihese bond. ,,,r Jettlement and rultiration: ot iraprovmg thc
dcpositad by the bank associations fox the security . nns:ti of onr great inland rivers: of secur
er their creditors, many of ttieiu antedating the j ;ng i-uea p transportation ana proniaote nuntu
warsn ltiie errenbacklaw some nndcr the law 1 !or Su pruaucie 01 aifiicunurai auu lasuaiuciui'
of liiis. others under the law of February. lil: lu "or.
still others under the laws of July and Ansrust. j That is what the Kpubli can party say in their
1S.11. As I bava just said. I tind in tuo list about platform. What do the Democratic party say:
".'0,0dU of bonds Si deposited. which Thev say in the ninth proposition that railroads
were issued b fore the Tt-1t honils were thonjrht. of ami nil other cornorations created for ruin or
notes to be payable in coin. Moreover, the Su- And yet the lieraocratic nartv dnre to snv that the i brolit should be peuderad subservient to the neo-
prcmo Court of tho 1 nitcd State, through Chicl I greenback is powcriul enough to take up tlit-se 1 ple"s rood; that we demand such legislation upou
Justice Chase, long since pronounced its opinion : bon!s w hivii ure issued in exchange for gold! 1 i this subject, both State and National, as will ef
that a greenback is payable in coin, and when the ! know something about ti ee bouda that were is- j fectually secure the indnstrisl and producing in
United States issued a note wherein it prom-! sii"d in llll fur t ikin j up tho treasury notes of, tcrests of the country against all forms of corpo
ises to pay Soto the bearer at the Treasnry in Wi . 1 know that the government received noth- rate monopoly and extortion.
Washington, or at the oiiice of the Assist tut Treas-1 ing but gold in exchange for the notes and bonds This sounds tair to the ear, but I am going to
urcr in .New York, it meant $o in coia of a ccr- 'in that year. I remember it very wall, be 'ao3e 1 ' show to you that the Democratic party in Con
tain weight and decree of fineness aceordins to thought it the duty of ptr:otisru to loan the gov- j gress. gathered from every State in this Union,
the stand rl established by law. Thus we have ; eminent all the money I coul t raise; and accord- j aae not iu harmony with the Democratic party of
now the declaration of two depnrtinen's of gov- ingly, in that year, I purchased two bonds , the Stata of Indiana on this question,
eminent that the greenbacks ar-j payable in coin, i amounting to 'J,uOO, and when I took our State Let Die say, gentlumen, that under thm pewer
and we have the formal construction by Congress ban k money to the bank for the purpose of paying ! the constitution (fives to Congress to regulate coin
of the act of 1'J, declaring thattlie "-'Ju bonds i:re j for the bouds. I was politely tola that the govern-! merce with foreign nations aud among the sev-
ment did not receive paper curieney m exchange 1 eral states, the Republican party oelieve that
for bonds, and I stepped around to a "shaving j Con.-ress has the power to regulate inter-Stnte
shop" and got the gold and paid the govern- commerce, both on artificial and n tural higa-
mcnt ftoiiar tor dollar lor tho;ft bonus ways. W e nave exercise! this regulating power
r ivable in coin, t'rincuial as
fiiow, I am prepared to ask the
11 as interest
qn est ion to my
lioiiio rstic friends, what do you gain in compel ing
the bo! Icrs of tho o-'Ju bonds to surrender tUoin
and receive greenbacks? Do you lessen the debt?
lntil.
Well
now.
nyono could i upon the great lakes and navigable rivers of this
notadollar. What do you gain? Why. it' it may see there would be no juft .cs if greenbacks were I country, the Missouri, the Mississippi, the Poto
bo considered a gain at all, you call in the oldiga- depreciated so as to be worth, ninety cents on the i mac and Hudson rivers always. But the Deaio
tions of the government that do not fall due tor ten I dollar, and considering r'ie extra premium which : cratic party always 'jad doubts about the power of
years yet, and exchange these for obligations that j these bon is commanded, everybody can see that Congress to make sny appropriation for the pur
are due w hen issued. It is difiicuit to see a '-am j we would be losers by the bad faith of the govern- : pose of constructing artificial highways, such as
there. But our Democratic friends say there is a I meut if this Democratic theory were enforced. iuacadamiel roads, railroads, canals, eto. This is
gain in stopping the interest rtpou the bonds that But they propose to destroy tho national bank a very old belief of the Democratic party. Itgoes
are thus surrendered. 1 can understand thnt very system. 1 do not stand before you to-day a back almost, ifnotqnite, to the origin of this
well. If you have t!ie power and can coiMiiel the i ihaninion of the national bankine svstain: Tint f ' rovernment. It was once verv forcibly illus-
noiucrsot tne oonus to surrender mem ami
take greenbacks in exchange, for tlie time being
you stop intevst on that much of the public debt.
What follows? Here you will have transgressed
the $4eX),UOn,t!0 limit. You ha ve one, or several
hundred millions of greenbacks more precipitated
npt o ids couuiry, an caning lor eotn, nD'luut)
have read the law very attentively, and I have j trated in the year lsitii, alter Congress had made
noticed very carefully tbe operations ot the law. a stipulation with the people ot Uhio. who had
1 have set u this system gruw'in;-every day in pop-1 applied in to be admitted into the Union as a
ular favor. I have seen the absolute safety of the j State. Congress proposed certain conditions for
svstem so demonstrated that I am prepared to say ; the people to as.-ent to before they were allowed
that this country has never had so satisfactory a j to become a State. One condition was that the
bnnkinz svstem that, indeed, it Ih.c1ts hot ' ncoolA of the Stute ahoiilii not t t v lands
upon presentation, and voit have anns this as a ' sinulo element ol beina nerfeet. I nronosn to !.! i..r mn utter thev wera sold bv the arovern-
niaiicr oi speculation to piav a snar tries upon lustrato tnat to you: acu let me say njiht m this uient. ana in consueratioa t-ougresa stipulateU
tue ouious noiiiiuoiuers. cut ttie governmeut leonnection that v am not here as an euiocist ol that it would extiena two ier cent, ot uie net iro
must not. alter dishonoring itscif by compelling the banks, but simply to do them justice. I do ceeds to the construction of one or more roads
Last winter a bill was Introduced Concress m n t is ill i v n sooner or later to tike im t '-..-
enlarging me existing currencv as ioiiows: ( grnoacus ami
taking the greenuack limit U VKM.om1: making
the limit of tho national bank currency JlnU.'iou.
W; iucreasing theoret'Calty the paper currency
of the country about $101) (t,0JO. lieneral llrsnt.
as I'reskleut. vetoed that bill, end principally be
cause tbe volume of the psper currency was ex
panded, sad because it postponed to a still later
anl indefinite time our return to specie pay
ments. I have made these preliminary observa
tions for the pnrpose of bringing to your notice
the position of the two great parties in tbo field
in relation to this financial question. I wish to
show you first a bat the Republican partv-in their
ronveution say. and for that purpose road lrom
tio third resolution:
"We are in favor of such legislation cn
tho finan fa I question as shall make na
tional banking free, and shall furnish the
country with such sdditional amount of currency
as may be necessary to meet the wants of the agri
cultural, industral and commercial interests of
the country, to bo distributed between tho sec
tions a'eording to population and in sneh man
ner as to be eonsistcut with the credit and honor
of the country and avoid the possibility of per
lnitfintr capitalists to make combinations for
controlling tho currency of the oountry.
that is wlist tue Republican party say in their to such a hight that our pudic securities stand
platform. Let us sea what th Democratic party i on a par with those of the oldest and best estab-
aym tueir recent convention at Indianapolis, j tehed government? in the world. But as I said,
pon this sublet. W e will see where the parties; since the settlement of tho question l-y this act.
agree and where tbey disagree: (every capitalist has been investing in our seeuri-
"Kesolvod. Th.tt we are in favor of the re- ties and paying a preminm. Look at the qnota
domptioa of tho 5-Jil bonds in greenbacks ac-1 tions of our government securities in fr nioni
cvrding to the law under which they werejssucd.") ing papers and you will not see a boud ot this
mat law is me act ot r coruiiry tu. lso, to i government drawing Cat five per ecr.t. in-
tho holders of thesa bonds to surrender them , not hold, an i never held, a dollar of stock in one ! leading from the navigable watert of the Atlantic
compel them tficrrto hold their greonbaeks indefi- of them, and certainly never shall while I con- to the western limits of Uhio. That was
nitciy. it would oe dishonest in the highest (e- tmue a meiuoer ot Congress. But lean do the I the compact recorded ou tho statute book between
gree, If a debtoi owes you sir, a hundred dollars ! system juctxe. It combines the excellencies of! Congress snd the State of Ohio. IlowdidCon
and is not able to bay. and wauts time, vou ifivei the svstems which have r.reeeded it. Tt bieLs lint press evAentA tbn flmnnai-l? It t& measure
him six monihs or a year upon conditinu that he the single clement of suitress in that its notes J tho most imperatively needed on tbe partofthe
a.vs you dsmssM in tbe shape of iutercst for being payable eitiier in coiu or in greenba-ks, they I people of the West, to have an outlet by which
eoping you out of your dues. Then the govern-1 axe not immediately convertible nt tke will ot the they could reach the seaboard with their proper-
holder, because the bank has the on tion of riitv. mil thntwu the onlv kind of wuv tkftt viu
gree-noacks aud to give its lutcrest-bcuring i deeming tuem in greeiihacks and turning tun i thouuht of in these times. Congress, under
obl.gatious because these greenbacks are due on i holder to the government for bis coin. Democratic influence, because in 1306 you
demand, and the holder ol them is entitled, as! But mark tho excellence of the svs- know tlie Democratic party had possession of
a matter of rirbt, to interest if they are not (tern. First, the notes, all beine engraved by the every department in this government hesitated
paid. Government mnst, sooner or Inter, give ! goveruuient and furnished to the banks, are so I about tbe execution of the compact. There wa as
him back his old bonds, and a;tr all this circuit! elaborately executed that counterfeiting is almost ! Southern cry about violating the "sacred soil" of
the governmenteomes ontof the same hole it went I impossible; and in the next place, these notes, j Maryland in construct;ng a highway through it
in. You will have gamed nothing. ou will have like greenbacks, have a uniform value all over without her consent. And what did this great
covered yourself with dishonor b-cause you have ' tbe country, and whenever you receive them in ! sovereignty, representing now 4il.'J0,0U0 of people,
violated the pledged fa'th of the government exchange, you never stop to look at the face of j embraced in the thirty -sei oa St tes and tcrritor
twiee given. You will have compelled men who ; the bill to learn tuut particular banks I ies. what humiliation did tbe Democratic party
have bought these bonds by millions since theiissue.l them, because you know they have . require that this government should nudergo;
act of March. lboO. trusting to the good faith ot j a uniform value in ail parts of the United States, j this sovereignty that deals with (treat Britain,
this government; trusting to that act as a perma-j You know that tho notes of these banks cannot Trance and tierm.-.ny as equals; this sovereignty
nent settlement of the question: bought these possibly fail: unless th? government itself fails, which declares war, makes peace and collets tax
bonds not at their fsye only, but paying a rrem- tliere is no possibility that a bill-holder can ever I es by millions; this sovereienty w hich now ranks
ium, paying five, six and eight per cent. I lose the one-hnudrcth part of one per cent, on the among the first powers of the world as a military
premium m gold to acquire them you will have j bills . that be holds. It may seem a paradox to ; and ovii power wbat. I repeat, was it required
compelled such men to surrender these bonus less j yon, but it is true nevertheless, that the bills ot ' to do? To take off its hat aud bow low to the lit
the premium, fretting iust the face of the bon is iu f a broken national bank are more valuable than j tie State of Maryland and sny '"without consult-
are tho notes.o! a bank that is in full and pros- mg you Congress has made a bargain with the
perous operation. I have not time to demon-1 people of the State of Ohia to build the Cumber
strate to you that this is so; you can find the bind road, which must of necessity cross your soil,
reason of it from sny man connected with the j We acknowledge wc. the Democratic party of the
national banks. You are secured beyond any . U nitcd States, that we have no rigbt to entr ud-
peradventuro by the bonds of this irreat govern-I on your sacred soil for the purpiss of constructs
greenbacks. Take the case of our Herman
friends aoross the wator. They were kinder to us
than any of the old country people during
our troubles. Since this act was passed,
everybody at home and abroad . has
investetl largely in onr securities as the best
nveslment in the world, because duntiff the nine ( incut, which ara nut on the market snrl sohl i in - this road, without iiv exuens tn von. wiih-
years since tbo war our national credit has risen ! exchange for greenbacks the moment the I out your consent. You have got the power to mil-
bank becomes insolvent. And then, li:y the whole contract. W ill you graciously al
arain, yon hare this additional securi- low the United States of America to carry out this
ty. Kvcry stockholder in a bank is liable to the contract and build a great national highway? The
amount of stock he has paid in. Then the Comp- United States did that, and from that time to this
trollerof the Currency, who is tho head ctntcTofl Maryland and Virginia havo been
this system, may call at any moment ; laboring under the delusion that Congress
upon any bank to state its conditions ft a J has no power to construct a work of internal iio
pnrti 'nlar hour, under oath. Then proveraent passing through a State without its
oyon.i an t;iat mere is an ciiicer. ca lied : 'onsent. Well. now. t shout! like to ask. my
which I nav already referred, tarest that does not command a uremium: tlie Bank Kxarainer. who is circulating Gnnmr friends, how do voa em-nt Onnurwn
2. That we are in favor ot tho reveal of the law I and thosa thnt wern issne.l in h i throno-h tV ...ntnu-v ..,,,1 .it.i.;u . ...ml . .,..hi;.iii,,;i...iik
of March. ISA1, v hich aimed to construe the law first psr or lsol, tho eighty-xnes, commend j these banks at some unexpeitod moment, i two or more traeks leading from tbe Atlantic to
to make such bends payable exclusively in 1.0S and 1.0?. tlint is to say a premium of eiirht per walks into their vaults and cxaui'n-s every thine, the Mississippi or Missouri rivers, or to rcculate
in otucr worus, the lemooratic party by, cent., so that a bond which dots not fall due till tarns over the books and examines tbe en-; existing roads and call them to an account.
gold.
tou would say that that was just, an lit was,
notwithstanding this is a ereat interest in the
country notwithstanding $l.uuu.0tD,o as it has
been said, have been invested in the building of
72. 9uj miles of railway, that these companies,
while they should be protected in receiving a.iust
and fair income on their investments, should not
abuse .he powers given to them in tiicir charters,
by undue exactions from the people, cr by insti
tuting unjust discriminations.
Now, my friends, how do yoa imagine the par
ties stand on C?U question? Uf course you would
imagine that gll would favor a proposition so
reasonable as that, but it is not so. The bill
passed by a small majority. It is now pending in
the Senate. It is a practical measure. I
have not given yoa tbe machinery ot the bill.
Simply iu principle. One hundred and twenty
otte names were recorded in favor of tbe measure,
and one hundred and fiitven against it: and of the
one hundred and twenty-one who voted for this
measure there were but four Democrats, and two
of these were from the State of Indiana. Now
then. 1 appeal to the people of Noble county, in
terested as they are solaig.'ly in this question,
who arc your friends? Here is an expression made,
as I have told yoit, by members of Cougress
gathered from the thirty-seven States, au 1 not a
landotu, not a casual expression, but one given
under obligations as members at Congress.
CIVIL BIGHTS BILL.
T pass from this question to tho consideration
oi another. The Democratic party, in their plat
form, say that the Civil Bights bill passed by the
Senate of . the United States, and now
pending in tue House of Representatives,
presents an issuefnll of moment to the American
people, and calls upon them to decide whether or
not they will be cursed with tbe absolute social as
well as politics! equality of tbe negro race with
tiiemsel ves. " "V view with abhorrence this
attempt on tbe part of the Vedoral Govern
ment to take control of the schools, col
leges, churches, ateauiboats. theaters and
graveyards for the purpose of establishing
negro equality and enforcing it under enor
mous penalties. Ws arraign Senators Morton
and Pratt before the people if they toist this atro
cious measure, aud we shall a-k for judgment
against them at the bands of tbeir constituents
whom they havo misrepresented."
I deny in the outset that I have misrepre
sented the people of the State of Indiana. 1
obiec.t to betna condemned unheard. 1
propose tog! ve you a synopsis of the bill itself. 1
propose to snow you tnat iuis dui is utterly mis
represented in this resolution which I bare read.
They are not proverbial lor tailing the truth, but
they have missed it a great way in this resolution.
Now let me read you the first section of the bill,
tbe rest of it is mere machinery:
"That no citizen of tho United States shall,
by reason of race, color or preVious condition ot
servitude be kept or excluded from full and
equal enjoyment of any accommodation, or facil
ity or privilege furnished by innkeepers, common
earners, whether on land or water by licensed
owners or managers, losses or officers, by facul
ties, by trustees, commissioners, teachers
or other olhcers of the common soboois
and other tubho institutions of learning,
the tame being supported by moneys de
rived from general taxation or authorised
by law. Also all cemetery associations and
benevolent associations, suitertid or authorised
in the same way; provided, that private schools
and seminaries and institutions ot learning, es
tablished exclusively for white or dored per
sons, shall remain according to the terms of their
original establishment.
This is the whole of it. Before proceeding to
comment on this resolution let me say that one
efghth of the population in this coun
try is composed ef descendants oi
the African race. Hence, in our 4i,O)0,000
ef people there ar 5.000.0UO of the colored race.
Tliay are an integral part of the popuHtion of
this country in three States they constitutes
majority in Seuth Carolina. Mississippi and
Louisiana. In other States they constitute a
large fraction of the population, in many instan
ces approaching one-half. According to the Four
teenth Amendment these people are or ought to be
citizens of the United States, because tbey have
been born here and the tourteextth amendment ex
plicitly provides that all persons, born or natural
ized in the United States, and subject to its juris
diction, are citizens of the United States, snd of
the States wherein they dwell. If you will define
to me what is the measure of a eitizen's rights I
will tell you what is tbe measure of a colored
man's rights. You sir. were born in the United
Stated. You are citiions of the United States.
'What more than a citizen are yon? There is no
h gher title in this country than that of a citizcp
of the United States. Whatever, therefore, is the
measuie of your rights is the measure of the col
ored man's rights. Now it is supposed that this
supplementary Civil Rights bill gives to the col
ored people some rights they did not enjoy
before. It is not so. Tbe common
law of the land ever since this fourteenth amend
ment has been part of tbe constitution, gives to
tbe colored man every right which this supple
mentary civil rights bill confers. This matter
was tested in the District of Columbia, where
they sought to exclude the colored man from tbe
same car in which the white man rode. Tho
courts did tbeir duty and decided that every roan
wbe paid his fore w j entitled to ride in tuo street
ears on eqqual terms, lias any Lawyer ever
doubted that if a colored man went to a public .
house for the accommodation of travelers and
demanded his rest and refreshment,
and proposed to pay the usual charges!
---, - I iTi i : i: ; .il x must aismisj tms subject, i pare ia cn-
TU,lM,nvj u..v ' 1 V liUl CllUlICi 1 " ' i,J kl , ,1 HI , I -.., In .' pnn n. v.. - ...... 4 ...
just as well as the white traveler? Why should this Civil Kiahta bill
he not.be, if he pay an equal amount and be- NowafeW words as to what this R
n a vft mm an r n, uni vr ti a jrxoa .i - , .. .....
-., .- , ' f i L Pariy nas accompiirncu end 1 will bring mv
the railroad ticket office and but a marks to a Woe which have I cti. p" .1 n
first-class ticket why should not he be en- j ,,baB lpecte,j. This party hns ht 1
... t .. - - - . . . . . . . . .. . . ". . ;ri 01 iiie nariunm rflpi'mim ni 1
the IH-uiocracy will have passed away. They
oven ir-wing en mis capital long enough.
We have heard until we are sick the Democrat ie
apprehension of social equality being bronchi
about btwweenthe two races. We hI orinwt
to call upon this bumble race to come and ticlw
us during the war, and thov came
by thousands to the number, I believe
of one hundred thousand and were ciot'aeJI
with tbo national uniform and arms put
into tbeir hands. And behold! the Democrat
were terribly alarmed lest there was going to be a
cond tion of social equality. Did it come? No)
very far from it! The Republican party then pro
posed to abolish s'avery, and then they were sure
it would come. It was tbe great argument ad
vanced by the Democratic party ail over the
country against the ratification of the proposed
Thirteenth amendment. But the amendment was
ratified by the people three 01 four years since,
aud we have no social equality. Tbe prt rosiiioit
came to advance them to the rghts ot ritueus of
tbe United States. You heard the. same cry that
we had heard lormerly about ncero e,4uilitv when
they should become citizens of the United Stites.
The two races kept just as disiiuel as Leiore.
And then it was sure to come when
the proposition was submitted to the peo
ple that the colored race should be admitted
to the right of voting. Bait although that propo
sition was ratified in 'bS or 'bi the equality hat
not come yet. Indeed, since the col reJ pei p'e
have been iuvested with tbe rights of cititeusbip.
since they bave bad the right to marry and oiiaj,
their wives and children, we bave seen a good
deal less social equality down South than pre
vailed there before. (Applause.) They osed iu
old times to bave practical illustrations of Demo
cratic notions ot nigger equality. (Applause and
laughter.! 1 repeat to you, my tucn.ls, that
ass'nst this great measure of justice there is
nothing that can be opposed, cxe 'pt unreasoning
and unreasonable preiudioe. And upon not only
the score of Justine, not only upon the score of
our constitutional obligations to treat these peo
ple as citizens of the United States, but upon
the ground of gratitude to them for
the services they have rendered thcii
country, which they luul known only by its
oppressions; by the services, J say, which tin ren
dered through the war in putting down the sri at
rebellion, alien ue invited tksin to joia wi.h us;
this people whom we bave treated for two hun
dred year a slaves, who bate been
oppressed by tho worst form ot
slavery the world ever knew; all under
the auspices, too, of our constitution. Andy, t
in our extremity we called upon them to come
over and bolp us, and they did come over, aud we
all learnt then to forget a good many of our preiu
ices. Let the Democrats sneer at then on aeiouut
ef their color aud tho voolormation of their fea
tures; yet look at the question from a higher
standpoint. I have no right to indulge in nny
prejudices founded on mere tense.- the
sense of sight or smell. Tbey are not rcspm-ildo
for their color. They are not responsible it thy
have not a Caucasian heal or nose. W hen I wns
s youth I used to read the oracles of O.id at ih
knee of my sainted mother, i used to read the
book over once a year. I remember pausing long
upon the first book of Genesis concerning tbe ori -gin
ef man. It gave rise to many strange
thoughts. I found there that alter tlod had
created tbe world, and all things there
in: lust of all bo created pi an in bis own image,
and that he gave bira dominion over tbe earth
and over the fish of the sea, and over the fo I of
the air, and ever the cattle, and over all th -earth,
and over every creeping thing that crci p
eth upon the earth. And he gave him to fubdut
the eaitn. and after un work was tloue lit pro
nounced it good, very good. Now pause right
here. The colored man recognise him wo i.iu-t
as a man is the image of God, and I have 10
right to slight the image and throw contempt
upon it. W hat authority bave I to say whether
Adam was black or white? What right have I to
say that the colored maa bat not all tho la -ult es
mental and physical and moral, that I have?
That he has them, all, it el ear. It is clear that he
bas the same appetites, the same wants, the same
rpiritnal nature, the same love and hatis tlia
same desire for improvement, the tame susceptibil
ity of mental and moral improvement and culture.
There can be no qnestion about it. There an b
no question that be was created by God. and thnt
his yeers run parallel with God's. There can I t
no doubt io tbe pbilosophio wind, that
there is no essential difference w.iatever
between tbe two races. Hence it costs mono ef
fort whatever to aiquiesce at once in the i.ruposi
tion to make them civilly and politically equal
with myself. And I do not think there is anv
danger of social equality following upon th t ad
mission.
But the Democrat!:; nnxtr ever since trie aboli
tion of slavery have been banntedwith the :.),ire.
hen. ion cat unless a wail was reared bc'aecn
tne two races there was danger or social ?qu.i!:iy.
Tbey are afraid to trust themselves: hr ra
afraid lest ihe ardent temperaments of the Dem
ocratic youtb would impel them to rush pell
mill into tbo colored camps to geek wins of tbe
table children of Africa. The Republicans art
not troubled with any feart of bat sort.
There is another reason to be found for thii
measure in the admirable eondu' t of the eobr c
race all during tlie war, and their uniform ti '.clitj
to the Union cause. Remember, these pcopU
have been in bondage two hundred years. -udur-ing
all the outrages of slaveiy. W'luls tueir mas
ters were away oa distant battle fields seeking t
rivet still more firm the chains of slavery. :u d
establish aa empire with that as its eoraci-'t.uie.
they lell this genii and long suHeiing peoie at
home as sentinels to guard their wives and 1 hi!,
drett and provide, for their suf s'strnee on Hie c:,i
plantations. Did tbe colored man rciucub r bis
wrongs
Did be embrace the opportunity to visit these
hated scones with rapine and plunder? ,V.' If he
felt these wrongs, as he must, rankling in it
heart he pot aside the supreme temp it'oa.
and listened to tuo voice of religion "V ei-"3:t-s
is mine, I will repay saith the Lord." Ap-
piuute-i
sur-p'irtmg
iP:
nn
re-
:cl
i i -f k T ' iC .? .1 . r -".i?ooey years. You know in what condition the D. ij..
And if he chooses to ro to tho theater for the pnr-l ,.r.i,a Brtv r.,.w striinir la , ,,,, ,,1
nose of seeing U ncle 1W. Cabin perPu-med. or , i'fhegorrirnlnt on V&Vh of Afor h 1 '
For tbe purpose ot lauluBg and crying at the same j While tho country was in a condition r"fo.)nd
lwW-wvf. PJw;iHfT!t-Vj0iirr'rS,''Kn!t ft P; wa''! li't tbe Treasury deUttd. TI -v "it
V ay Wi iBkle. why sUoaldp t he. it he lias hongUt a , m eonrttry in debt 9 j.tV Th-v Vft it,
first-class tieket, Le entitled to a frrst-class seat? cieuit six i,er cent ill ' i k 1 ul
those whodeny him these rohts. ibis t Ul is do- ., t'la Union M in , r a-. . ..,; L
signed to meet such cases, and to make ,t the ! .""eVto .i " rd Al' fon
eq rig1t.t ' is1 "ne -I
not to a-tve any new ri?nts. r.ven in our
own ranks tuere is a goo! deal of hesitation about
giving this measuxi of juatieo to the e dored
people. 1 ad fref 3 my remarks to tne weak-
kneed men of the party. Bet me say to you. my
t Jiontzomcry. Al tbama. an-J denied if,.
prciaaejr tl tu eon-titut oa ani lawi o ii,e
United St.: Us,
t pt;t tU-m dova. 'ikat was
psse,t in March Is? 'known as lb act to eight per cent. premium in gold at condition oi its resources an I its liabilities, and ! they are charaing in the siape ot freights, and i Two coti-ritufions 1-nperativcTv require it :a ttVt : Iti,,., V. i, , TLj, S.i i '
atrengthen Public Credit in the United .States." home and in l.urppc. And yet the Demo-1 mak-s a report to the Comptroller of Currency, j compel them to reduce tuem to rewsonaldu hand. 1st this connection. I wiisb to rtad to von 1 t fliitr.ii?ri luf'"
in which Con Kress latter reciting that there were,eratic theory compels.tne holders of th.-se bouds , Beyond all this these banks are valuable as fiscal ' rares? It cannot b done If the emocxatie party one passage from the constitution of our own 1 V- ;'2l.-t-? j rfu''l'",a might hive b-o
i'i;u)bt "nddiaereritiutcrpietation ot the law ot to surrender thorn wfoduer tncy live heie or, agents of the government. I discover in this ': come into power. For the purpose of putting this I State. I shall not pause to make nv intrnret-i ti j, fiS? . T the outset. try e i-ilv.
l.J under which the bonds and greenbacks whether thev hve in Europe, an W take the 'report that about r.M,l were on depo--' matter more clearly before you. so that no man t tien upon it. I shall content n; t 'Ifwitii leavin ' nWiiiffi:, . i i . 'iV J'". :!Iiu !:
were iesue.1 and after Ji-efemng. in terms' greenbacks which might be used here, but csnnot j it by the disbursing agents of the government on : shail be left in doubt as to what is the precise at-l that iut rpretation to yoorselves aat Is-Una 'i!iT"f' t , . i" 7 c.atrolicd-U.e too
thateyerybedy understood, to the canvass of I. j Be in Europe, to take thera at tbeir laca and tbe Vith ofSeptajgibcr last, and au equal amount, titude of the two parties o a tiiis trrasportation ! to it. It is the eighth article of the constitution M i Tt ?. " 'i.t .'iV 1 .
wnen tn t was made one ot the cardinal planks give np tne premium. Do you think lhat is lion- by the government itself. question. I will call your attention to the votes adopted twenty-two years aio" 1 n 'a.'-, fainst i.ie structure. . I. ti.e er.t
in the DeiBocraVie piattorni. that thi--0 bonus et? It is of great importance to a nation to have There is another fv-t wh:ci T wisli to call the registered in the Honse of Rcpreent&tives. "Knowlilge and learning gf-ncrallv diTnd ' r. r t , i0 li0,u .f,1 ''enve: p,.i ,g
aoinu o. inireuN iii fvciuoacKs, nicy oeciarea , gooa credit anroao. v e un oa.i crciit at tne attention ol my audience to in connection wuh Now trtcre was an excellent gentleman in ron- through the community. beir.K essential totbe'. . . n j J V - ,r. "'" " ''
in tuisrcso!;:;ica that the true intent of this law .close, of Mr. Buchanans administration, very these resolution. The Demorratio party pro-1 press by the name of John Q. Smith, lie was a I preservation of free government it shsil be Lie 1'"?" , r8 C'". "?":". "v will,
wa that I Bited t-tatc note which drew bad. inde-d. Even cur six per cent. bond, were poses to strike down tUi? whole system and topl ' farmer, and be was rcsarded a ti.e rcrascnUttTe , Snty of thoGt neral Assembly to enurTw by a'l ! frr'?. '"rTl,.1 . Jf "?.'" W --
tatcregt. and ate the 5-jo bonds! now eight per cent, in igold. were hawked about, the Uw. Nowifo happens that when the ,L-t of tlie farrniDg interests in Congress; r.nd when suitable means, moral. intolUctitisl oitif I :?"'. nmerit (fat tine, f-re-rebel,
wbiebdrew tntmst were rayabie in coin, and by Mr. Cobb, m New York, snd sold at a S.ieri8ca i report wa male by th Comptroller of Currency be introduced a resolution it demanded close at- and agricultural i improvement, and to provide bvHi-'t? I' JT.nevY,- 6 "' b-l-.y.
pibfed tuepuolie taittt tnat this noderstandinc j of six per cent. That was the list mstanc-of Dcm-1 ot tho condition of the banks on the 12th of bvst tcntion of all men of all parties as a rcsofntion law tor a general and uniform Mm f wmffim i ''F" '2 ''"ruMifaii prty took the h-.m t:,e
thou d be carried but. The Democratie party ocraUcSaancienng in tlie government. They went September, the amount of their loans and du- j that meant business, that contemplated future Ischoois. wherein tuition shall be without ehVr-e i ihl?.uifte wus rolling like a Tes! on hsr be-ais'
iroposestorepealthatlawthemomentthe.varein-!outet power a fow dayt ftenvar.is. t Laughter! counts to the pabiic was $410.(0 :. Tho people ! action, and every man looked closely to the Ian-! equally free teall." Do yon ee tL rwUnt? li ' 1D V" iVon,r1s "iu'Vfi' aD'J S':VS' ,r
ttallea tn power. I shall hare something more; and appUuse. If this oouiitry gets into tronble ( were indebted to these banks l.'.7i in number, iguago oi the resotatiOB. - There was a general j there any ecar f.om tu obiiaaicTn fctmthiitli . all go, te the bottom. ret Br-t.au
ii,,yTpoa nbject bye and bye. ifniti U may bave occasion to appeal to capitalists , spattered over the eountry.-SW.OfW.COO. and if pricking up of cars all over the house when this 'gnaiasity? These isBMiTu. to bi wiiT o w ' .0rtL,ir ?5,0ii0.'Mi f3 new power dist
i-,,Tli:fes '.ed. "W axe in i tavor cf reral-( tor loans ot money on its sacur-.ties. It is not our this syst era is repealed this debt is precipitated at! rcsolnt.on was read. I want you to prick up your to aiL Here eorres in theiFourteeVth AsS I ', "trrcd in the world among the fomily of
in the national banslaw. and th substitution ot, policy to keep much money m the Treasury. And ! oaee on these borrowers, and thev are required to ' ea-H now when I read it: lment.tba declare, tli.t .11 rJr,V. ai ,i7- J.""""! Con iJ.arte States ol Aj.t...
rrccnnaik I t the national bask currency." (if by this single act of the Democratic party we ! sup to tbe cat Uia's office and sctUe. Of course) " Whereas. The Constitution of the United 'United States ara eitisens. and entitled to eauTa f nt;e 'o.'- 'Pan Joiiowei in tae rcc.Bs
Vt,0w.,il' taeyareBot simply for the; break fa.h with the holders of cur bonis the the affairs of' the , bank have to be wound n p. States provide in exerts term that Congress riguu of eitiwe. Sow tbcsesohoVis" tretoe Li ; VI tJir?l5j2urtT?tad re4rT."1,
SBbsUtntiOB ef greenback for theaUonal bank world over, who will trusts if w should ever . debts paid off. aud the mo ley distributed amoBg . shall ha th powef t reguiate eonuss wita open to teeniidren i ail Ih'i ba, r,! i ,011 ,llt d?wn ft
?fc.r.Vb,Uh-a th,f'T Pnrposetofgct into trouble with some foreign nation. crUbestockhoHers. What do voa think of tlat, my foreign nati-.r.s and among ti.e eevtrl States.! ecived, judfoial interpretation by a bentoetraU tW !lirAtrS"r2 V ft4
aoolish the naUoatl baas. UfiiwU; tesue the j are threatened with anotucr insurrection. and!trinds? That is Democv..tie financiering. ! and with the Indian tribes: end whereas this pro-i Judge d Judse wtao muiod high in Ttie iMmni tJt.'chbJon? At thst time tbey vera a,lKe
ystcmdown. , Sod it accessary to borrow money? W hera is onr I What do you imagine would be the portion of vision of the constitution imposes upon Congress eraue eiiurea. and 1 da not know bat that hi jr.C- "i jv V"; ,je '"'"
.-AftF.I5-'1 that- tjicy say la tV:r fonrt?i.resola- saiaty unlej.tis syst m of Democratic fiaan-; the people of tio Stat of Indiana of this debt? Sdutiis of su -h hirb. bodicu to the iufoxests of'doo yet- I lifer to Judge eiBfc who for eo' ? .1 k I e. lll0r fVl ms,'
IvoTi. W e are in hverofe return to specie pay- cierni? It is gone. Tin act of repudiation : I do not remember bow many tanks we have got, the people of these 7tatcs; I many year administered rnticeiuthe Sa&Tmei , .n'4- 111 ."iu -J1 too. Ilut X cannot pause ;o
oients N)M a the busines interests of the would be rcniembered as loeg-yes ten times hot I know we stand sixth in point of porn- "Therefore. Be it resolve 1 by tbe House of Bap- Court of the State. He it now Julie in the"sJne! 1 iiiVt.'?; "tl tm-.7mttZ-??7 a:i.-r four
nutrywdl permit. " W bar bees tmn t ! !ob than th aet f MniMPatpr-i m repudtatfae: latien . in. th sisterhoocl of Sutu. and I 'rscntatives, that in the Judgment of tnis IIou' rior Cartin tbecityof lodisBspoli. 4 ewBwiKlh7 ih-,U.i?
return W tpei pwmsta ver imci the, her. bonds: and that act Ub4 in th nostrils of may Curly infer that the proportion ofiTidebcrf-; itis witbia the constitution so to regulate com- before him atiudee. wberea trnMohad d-rW to1 ?V?!,f? i ' e?ntrjlfe'. Jy the hepn :i
clo f th war. on th bwu t aef carrcricy jcaritaiuti to thi d" ,f', , i ncss to the national bank, of the peopl of the j mtree among these states as to prot-ct that por-' tbe children oi our colored it.rent eqnal rig't, wi.'
ef vLf2' i'' c" . tn wi . , ilj Ihen. again, what bceoToe - of th t currency , JrUte of Indiana would not be less than fiity. ! t-.cn of the lnternni commerce of the several ' the common schools of a cartain townsHptjud-e r , ,i.. r 7j 'ot? ht" l'jar ricJ
net h-w-a ablet fr U olve th problem. BTJvthnt we have plumed ourselves so mu:h upon? or sisty, or seventy-five millions of dollar, i States from all nniust rr oenreseira tolls, taara' Perkins read the Fa.urtM.ath ".TiCtupter freeujai ande-tual runt.
i
Ban? uas io res inn lasicu oefln eonsianTiv iirpnif r? so mat to- i.asr . ir T , i a an..-;:rr ,,r vt,.. - i 7. .-, , - r, -. - , , - .-. . . r - , . 1 - I . . ', , - , . , , . 1 I ...:i .1 1 ... , . r 1 : . 1 c
.u M..k..v......l ' j ; . - -- - - , . . , , . , - - -, i ,v . , , . -.----" - - ; - - -' , -. i-; t - fcuvas? wcu " v v ' ut- usi irora 1 '.c 1 nr-
no' the Democrat-
question oy tjai fsums) greenoacKs euouga to , aa is wortu Bincty-cne cents on thfuwiirr in ; ation w?s about tlJ.W.bwJ. A lars por-i companies or by combinations thereof, or by stitution of the United States, lie readvfnrtiwr
ewinw rvii.iw,vwi --w miisr-incii voe gou, azy.us onty iuiriy-:oar cents uurmg tr.e tion 01 me taxes sou Know were ectinqucnt ' other common carriers when encaged as iatni-1 more, tho art of 'tfj. and he pronounce 1 the
aa pc:pie were not able to pyiment3 cf such carriers of the commerce of the trustee tw fault in rainsin admission to. iL
(appose ypu rouitjply t:i: S12,(.-Xd pscrlc: that the nrf scut con jitions of m:iira(r ' orad eh.il lren. and nr lered Lr.013 t ha ,r4,e.,l
. ' - - v ; . houuui.il. iiiin.i-uiui (.t-uMiai.Kjji vii.cMj.., i H, u at 1 1 ,c .tue ejutuiiijii ; smiiQ mo .--laes a sv suca as t-3 uemanii tne 1 want to real to you tout law wtica t Ki,t f
country wiilbe in eoni.uo ta return to specie j war. W hat becomes of that if you launch cpn because the
ps-menrs at an early day. the eotintry, as the Democratic party proposes to thera. Bats:
Iere i but one more rcfo!uS,iB on ta: Jutvect, I do, eight cr nine hundred millions of greenbacks! four cr five ti
IHB TlIIK-rsgSlH. fOTfiTEEyTK i r7(5IMI
S-lilNDUESTS.
And had this KepoMican party V-'t. the day that
the Isst was writtca.it v ouH h.-, r-f &iv cl s Uc-'- '
iTnmortairemetr;brancforitsi,-,i; jAppli ise.
anas mm uitau. n vim tail wortion ai uia wiat-1 ai inn ni t Thrrs acn.irei . t- i p-pMv.tm m - n r.Mn s ni ihn siaf. .. i- , : ,. i - ; .. j ,r : j . . r . . 1 c , 1 j t- l - - 1 - ... - .
v , . " " , . t-7 , , , , . , - " " - J t i-.j , i-Yi vi p.H wiii.itiis um. im wft,m it SBUtTS v BOnt US1S- t or cal It Hilt abfihfl-l : .. . 1 uaj it not eut
s, ' , , hens you have got now? If you make green-; are compelled to np thc-.r loar.s.- For these dory deared in thi resolution." cratet it ha bc on th natut koekt "n'fiOT t k1y ridV tt li'i tr'i
.. -,Vrf '" mT,'?T IMat:B from j backs a plenty as th leave upon your lorest resoni. we should be slow to adopt tae Leino-l .There is a resolution covering the whoTe que- yearVor more, aud contemplates mi-cd schools U-Itlo g . "ti Ls Trvli ot ih" rocs
timete Um as shall adjust the voIutr of the, tree, don t yoa perceive at one that a yoa.in-ierabo seheuie. itton. It affirms the exisiienc of the power in 1 and provi ies for mixed acoooia, where tboit tto wal4 al notiHeT pofnb-i aJth- ot?
carrency te the coniaicrc:i and loiasxrial wan w .crease the volume ef this currency you depreciats ' I oraitud to state m it prcper eonn-t!OB an- Congress and it afirms that toe time had come dren csnnot bo separated. L sten whUe I rn-1 aiai -is twk i v ot stats taoul i b da-h
of the eouBtry." fit value and redace the pr.ent vslue of ttehcr foreirdo argument why we cannot pay off, when ti.at power should be eiereiK-d. St bow thi law. and tea if there is any escape frTt 'Kf. lukfV')11 ocen, ao forl ti
I propose, if you will bearwithroe. toanalyr greenback. niBetyeents. down to fifty forty. twcB-tbe bonds tn ereem-ia. k, and that is loan 1 in the;dii the pariis show their hands on thu u:si.fon?: Yon will any that it is a neiqra f itrtirs b i 1 ihm twV Tttrl1?
these prepositions, and show that we cannot with; Jy-five, or even ten rent for angh t'. know? W hat Pie-lge of tae public taith given in the act of Karch'Ia favor of this resolution tiiere were one hua- ousht to be so, i will show you that it it ti , lii It d;d . !Vi, "acre. Every ore rti'h'- ccd
good faith carry out the theory of tbe Panics ralie, beeomea of the ttauiuty.ef the currency it-1j. 1 have real to yoa this act to strengthen dred and ?venty-two; and of this one hundred is faad ia vol am e 3. pan 47i nioB III of thm itiVsV.t Irourht hock late the'fJof tt!
partyt.that it yc-a cooM. it would fc disaattoo toi portast to ery interest in the eoMtiy-what U; . thonrMif eredtt. in which the public faith was.and seveuiy-twe there were eleven Democrats, i KeviMd Soatnteo of the "State ef Indiana- "That laian TV ",r'i reconstruction hT bee?
,TiIT.,2,T,rt pf th country. , . comes o: the stability of the pnoes of labor and pleoged, that tha priacipal or these bonds U pay- j all told; and against this resolution ther i a per- trntteoor trurtees of ih towsuhip shuil wv' coVnWl a3-1 1 7 art a-o: when ariTfiig wS-k
r hr-t rcEn I assign why thi PanT?ot be property? Wear all at te. in a state of perfect able in gold: thit su.h was the intention oi the' feet aad solid block of ImocrAt. ire the olred children into separate scboel. I hid B.pion. liaocriaie party, wh'ei hi
ne i. that. as Inndcrstand th law. tt is us- confusion. I can easily perceive that it will be law that authorised them, and thi law wastbe.Knt if anyone thall stol doubt the po- having ail the right and prie nurae'ae H Iican party t e" V v, ,Vi
possible lor Congress to authorise toe ; issue of excellent for the debtor. Tbe man wbo boueht inducement lor people tobny thesn end pay larre sit o , of the parties, let me cite of other ocfeools of the towosshj- SnoeSced i'a-Uaa nncoastitct-eci' n4
greenbacks beyond the f ;n . -iv.-AV limit.,. Inn-, rour farm at J.ftg) contracted on the faith that premiums to obtitn them, in tbe beiief that the yon to another measure wni h pxs-l proridinx there were not a su.beient niTmLiii- vTJl ssid wfy aside our h juilit- VV m Z
i jsi' tht ih faun of tic nation was phsfcted. th trroenbavi m wtueh th - nntount waoto b ueuoa bo they were payable was forev-tie Heua of KepresentatiTc. A distinfiuished , triihljt attending distance, th aercm oUUcseu 5a the- - he never remind W
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