Newspaper Page Text
THE FARMEtiS' HON. Volume IY. MEMPHIS, MISSOURI, THURSDAY, FEBRUARY 22, Number r. M M It k! 3 CO GO w o o R3 n o p. 0 Id a CD SB P 35 B9 H 4 o 0) A FINANCIAL HISTORY. Course and Efect of Legislation Since i86. No 1 Seoat r Wilson, of Massachusetts, made :t lengthy speech m favor oi ! legal tender, in which he said: (Cong. 'Jlobe, page 7S!. Feb. 13, 1862.) ; lii my judgement, if the legal ten der clause is stricken out of the bill, you will have every curbstone Jew ! broker in the country, the buds and hares of the stock exchange, and the class of men who fatten upon public calamity and the wants ami necessi ties of the people, useing all their in down t!ic Senate s ammendments, and were alout equally divided on the most material and important of them. Some were dissagreed to, o tilers were concurred to, and some unimportant ammendments to the Senate ammend ments were recommend. On the 18th, Mr. Stevens, from the eom mitte of Ways and Means, reported hack the bill and ammendments to the House and said.: I have no purpose of considering the bill at Jliis time. I desire that it shall be referred to the committee of the whole, and be made the special order for to-morrow at 1 o'clock. 1 hope gentlemen of the House will read the atninendments. They ar taxes, from all such hard bargains, j DEMOCRATIC FRAYEh. It was intended as a shield in the?,, . . . i e . . , .i I From the National Reformer. hands of tne patriotic people of the! .... . . , . . . , ; ii r " i ! ! Our political rather which ai corntrv against all forced sale ot ! 1 bonds; and all extxavagent rate of ashington, G rover be thy nam W n interest Every attempt on the tart of any class of citizens to create distinctions and secure a legal preference, mars the Simplicity and success of the whole plan. The verv discrimination Thy Congress come. Thy will be done in the regular ses iion, as it w:ts in the extri one. Give us this day our usual cussing. And forg;ve lis our political sins as the evil. ov "- ' ,-,. f.-.,..,:,... r I; I ... proposed carries on its face notices w luc "avc j robbing us to everybody that although the notes sinned against us. are declared to be -lawful money! Lead us not into the temptation of .111(1 :l lo'Tril ti-ii.liT in iMrmonla if : ..: .1. . i.. . i .1- . .. . debts." vet that there is something of higher value, that must he sought e see now. oh, most gracious n,r Iter, the benefits ot thy gold policy. i t has removed mom v. which is the root of ail our midst No more can the jingle of tin gerous rstuil be heart! in the land It has stopped trade. the fellow thai n.- rota Ion- ia tianx is cheatin can rob us no mow are at rock bottom. It has made us eontant h i station oi lire to which it has is great imst irracious I i n .... 1 I. 1 that used fluence to depreciate the credit of this ver" important, and. in my judgment. very pernicious, out 1 nope me House government and br value of those demam not e ; will examine them. The malion was agreed to. On Wednesday, the 19th instant the ammendments of the Senate to the bill being the special order. Mr. Spaulding opened the debate in op position to some of them, as follows. I am opposed to all those nmrnend tnents of the Senate which make un just discriminations between thee ed itors of the government. A sol. Her or sailor who performs service in the army or navy is a creditor of the gov ernment The man who sell food, clothing and the material of war, for the ust; of the army and navy is a creditor of the government The capitalists who holds your seven and I I look upon this contest as a con- test between the curbstone brokers. I the Jew brokers, the monev changers, 'and the men who speculate in stock-, i and the productive t ulinir men of the country. Senator John Sherman spoke in favor of the legal lender clause. He said: (Cong. Globe page 781, Feb. 13, 1872.) If you strike o:.t the legal tender clause, you do so with a knowledge that those notes will fall dead upon the market of tin; world. Senator Bayard spoke against legal tender, and ultimately voted for the am mend men t to strike it. out. Senator Charles Sumner smoke in uiree-ienui. treasury notes, or vour fiviir of ft i. wi-.il tiMiiti'i' mi 1 1 . ! t w 1 1 1 1 '1 1 ,' . of the government All are creditors it upon constitutional grounds in an L,f Uie goveriiment on au equa, fuot able and elaborate speech. tug, and all are equally entitled to The vole niton the amendment to pay in gold and silver. strikeout the legal tender clause was as follows: Yeas Messrs Anthony, Bayard, Pollmer, Cowan, fc'essender, Foot, Foster, K nned v, King. Latham, Nes mith, Pearce, Powell, Salisbury, Sim iu'mis, Thompson aui Wiley 17. Navs Messrs. Chandler, Clark, Davis, Dixon, Doolittle, Harrison, Harris, Henderson, Howard, Howe. Lane (of Indina), McDaugall, Morrill. I'omeroy. Rice, Sherman. Sumner. Ten Kyck, Wade, Wilkinson, Wilson of Massachusetts.) and Wilson (of Missouri.) '1'Z. So the motion to strike out the h g d tender clause was not agreed atier at a sacrifice to the government, to pay a pceular class of creditors t(; whom it owns money a kind of ab surdity and self stultification which does not appear well 011 the face of the bill. It is an unjust discrimi nation which does not appear well now, and will not look well in history. You will, if the Senate's ammend tnent is adopted, depreciate, by your i own acts, your own acts, vour own bonds and notes and harmiuous work ing of the whole plan. Is the banker's money any more sacred than the soldier in battle, on guard, or in the tented field? I can uot see that that the banker or the holder of Treasury notes is entitled to any preference over the soldier, those two laws of Congress, and yet if you concur in these hard money ammendments of the Senate, you will compel the soldier to take legal ten- ma; an Ke in' stouiacu is grow- s tng greater every day. Thou survey est thee ming storm and tit-,- eve qualelh uot, nor dost t'iiv hand, which is .-.(rained to hold the tish pole, tremble a little bit Thou s:ttest serene upon thy throne and ruleth the people with au eye single to thy pocket hook. Thou art like the duck that sproad eth its downy wings and swimeth upon the glossy lioo-.ni of the lake, totally unconscious of the thousand fathoms beneath. Pauius come au I go. but they harm not a hair of thy head. J Kill lion lest out iv land and I he gohlen sheckles fall iuto it like drops of rain on a summer's day. Thou stretchest out thv leir, and lo. AY are I'M - master. der treasury notes 111 naviuent for his $13 per month which you agreed j tue ,,esPa?er eorrespontlent break to pay him, while you pay the hanker their necks in their wild seramble to 0 per cent cupou bonds is a creditor uli 01 interest seini annual ; see which leg it is thou stretchest that in gout ana Silver to 11. istliat nghty Will this be meeting out just and equal laws lo the loyal citizens of the government? What will your army say to an arrangement of this kind? Sir, I can consent to no such discrimination, no such am mend meats, no sach injustice. At the time of the above remarks were made by ' Spaulding the duties on imports were, as the bill then stood, payable in legal tender notes, but this was afterwards I am opposed to all those amend men Is of the Senate which discrimi nate m favor of the holders of bonds and notes by compelling the Govern ment to go into ;,!ie (itreet ever six months to sell bonds at the "market price," to purchase gold and silver ui order to pav the interest "in com" to the capitalists who now hold United States stocks and Treasury notes heretofore issued, or that may changed in the committee of confer hold bonds and notes hereafter to be Uuiee, making those duties payable in issued: while all other persons in the f ' ,, . . . . . , Cited States, including the armv ' 1 and uavv and all who suoolv them ; Pa'd 111 coin without being obliged to j food and clothing, are compelled to I receive legal tender Treasury notes j in payment of demands due them from the government Why make this discrimination? Who asked to have one class of cred itors placed on a belter footing than another class? Do the people of New England, the middle states, or the people of the west and northwest, or anywhere else in the rural dis trict, asked to have any such dis crimination made in their favor? Does the soldier, the fanner the me chanic or the merchant ask to have any such discrimination made in his favor? No, sir: no such unjust preference is asked by that class of men. Tin y ask for the legal tender note pure and simple. They ask for a national currency which shall be of equal value in all parts of the country. They want a currency that shall pass from hand to hand among all the to. After further discussion and a few minor amendments the bill, as amen ded, passed the Senate by the follow ing vote: Yeas Messrs. Anthony. Chandler Clark. Davis, Dixon, Doolittle, Fes senden, Foot, Foster. Grimes. Hale, llariand, Harris, Henderson, Howard. Howe, Lane (of Indiana.) Latham, M Dougall, .Morrill. Pouieroy, Rice. Sherman, Sumner, Ten Eyck, Trum bull, Wade, Wilkinson, Wilson of Massachusetts, and Wilson of Mis souri .'(. Nays Messrs. Colmar, Cowan. Kennedy. Kink, Pearce, Powell and Satiisbury 7. Mr. Spaulding says, page lL'o. All former loan laws passed by Congress, from the organization ot of the government to this time, eon taiaed only a provision of pay dol I I'hev want a currency secured by a lars." Tiie won I dollar had a well adequate taxation upon the whole know legal meaning uuder our legal property of the country, which will tender laws, and it was difficult to 1 PaV the soldier, the farmer, the me- see any good reason for channui; the etianic ami the banker alike for all force the bonds oa the market to ob tain for that purpose. The Case of Carlisle. Carlisle has become the incarnation of inconsistency, for as secretary of the treasury he has repudiated as un tenable what as a representative and a senator he affirmed to be sound. When a member of the house he elo quentiy advocated free silver coinage. Now he antagonizes it. From his seat in the senate he proclaimed that the secretary of the treasury had no authority to sell bonds save to pro cure coin for the redemption of the treasury note, or greenback issue. To day he holds that the secretary has the power to sell bonus and apply the proceeds down to the last dollar to they may report it to their papers. Thou taketh sauff, and every moth er's son of us sneezes. Thou stumpest your toe, ami lo, we all limp. Thou gettest on a howling drunk, and heaven and earth are bent to keep it: a see ret, (ih, mighty Cleveland, we are proud of thee. Thou art oar king, our savior, our prophet, our all. When thou sayest come, we eojiu When thou sayest go, we go. When thoi; sayest stop, we break short oil. We are Democrats. tt is the business of a Democrat to do as he is told. Whatever thou tellest us to do, that we wdl do. We I'elong to the. We would rather bask in thy frown, and he patted en the back by the fellow who wants to be a Democratic sheriff, or clerk for $3,000 year, than to see our wife "all smiles to-night love,'' and oa; children fed and well clothed. MW ill a lit condition i. j vote the Democratic ticket ; We doa't know any better. 1 We don't want to kaow aa hetb - We were promised good times. We di lift get them, 'IV... tuai is no Vasoii we Should sake thee, most worshipful Du as it pleaselh thee. Lis like a dog. Promise that which thou tlou tend to give. Coax us up with a smile, and us away with a kick. We will still worship thy nan.. N e will still prove that w Democrats by voting the ti, We love thee. We worship thee. We adore thee. Take us. Take our wives. Take our children. Take our farm. Take cur manhood. Turn us out of home, with hungry wives and children, but we will ever worship and adore thy name, ami vote Hie Democrtic ticket forever and forever. Amen. re art ;et. may be weather. iieoitle 'it .ir- t . f . . riiuiiitr ..if.- town and village in the United States' j ther lnnV redemption of phraseology, and thereby make a de parture from established usages at tins tune, especially if six per cent j bonds (which were then selling at 88) should, as a necessary conseoueuce of such provision, be sold at the j market price to raise the com to pay this interest. At this stage of tin ! mil debts due. Who. then. are they that ask to lists sorely distress us. They ply us greenbacks. He has reveised hiu.-j with questions, and talk about princi- selt even as secretary. He told Sen- j pies and platforms, ator Vest that once the gold reserve j What do we know about principles? fund was reduced to $100,000,000 be What do we care about platforms? would meet demands for coin with sil- j We onlv know that theiv is nn ver. A few days subsequently he j km I of Democrat, divided into two It is not generally known what a vast plant it requires to publish and circulate a metropolitan newspaper. The Chicago Inter Ocean has iu its Circulating Department alone nearly one hundred men and women, uot to mention the carriers who deliver the paper to at! parts of the city bef breakfast every morning, ft mentioned that no kind of however severe, is permitted to inter fere with this delivery in any way, Of this large force, about one h. ii ot them work through the day at ordi nary office or clerical work and the other half begin late at night ami work until about daylight, preparing and addressing the wrappers, counting and wrapping the papers, "routing and mailing the bundles. Their work is of the most difficult nature and is Already, most worshipful master, I done in the quickest possible manner and yet so well is it done that it tt i dom happens that a single bundle 1 r paper ot its immense edition of ueai iy 100,00, reaches iu destination on other than the right train and at the right time, unless tklacd by acei dent 1 he system is wonder! ul awl its operation almost perfect. the local politican has already twisted his face into a radiant smile. We got two smiles and a drink yesterday, and, oh, mighty Cleveland, our heart leaped for joy. .Most worshipui master, the Popu- have a preference given them over pubhety announced that every de- other creditors of tie menij Mr, it is a very respectable few weeks since he prepared to coin i-iaaa ot geuiiemen, nui a class ot men who are very sharp in all money govern- mand for gold would be honored. A ilver with the purpose of usmg the transactions. Thev are not enerallt ' currem expenses. there was no provision iu it. or I anion y the nm hi. in r ,,..1 Soon after lie abandoned this ifesitrn 1 or in the Se.ate ammendments. to anions those wlm hv thoir bibr.r on.i I mi a.irarti.i fr i,;,ia Ka,i rr " v.; & tue 1 : ka ir.M LiiiovM s.vrn oivio k.ji inrutis. i collect the duties 011 foreign imports skill, make the wealth of the countrt Carlisle has surrendered his con vie classes. The duty of one class is to hold office and draw salaries. This is platform. The duty of the other class is to vote as they are told. '1 his is Democracy. We are expected to get our saiars th in coin, so that as the bid then stood i but a class of men who have Mt-nmu there was no other mode of obtaining I la ted wealth men who are willing ' t'ons lu keeping of Cleveland and ! ont of 40 cent wheat and 7 cent cot- ine com except by a torced sale of to lend money to the government if Wall street, and he has forsaken all l iKmas. j his com provision was 5ou will make the security bey on. I I deemed hv mnnr mwmlur: t.-k i . o.. 1 nnnativ.. i. , .. . I ttriTlil-if1rrn-r- ilTn rtm iii t . t t . c ! . .. . . . i i . . . . I UtUCU i uiinv.i.-j.u i vo.-vt iuiiu;iiiuu iu tavoroi 1 interest, ana mase it payable m con Umu. holders over other eivibiors nt Yes sir ti,. tn .M vtft -M .L-..,,I aet, ue is now one mereli in name. - - i 1 3 v. n " uiv. Maiu iverumeni equally meritorious. 1 tlnse extravagent term--, who want to see the propriety of was difficult to ; paving com interest to the bondhold crs while the soldiers and others were paitl in notes: and besides, the terms usee' made the coin payment of inte rest applicable to the 7-30 Treasury j notes and bonds issued to tie banks j luring the previous summer. be juv.tr.' I creditors, ar.? perfectly In this condition the bill was sent months. willing to len I monev to the cmvem mant in her present embarrassment, if you will only make them perfect! secure, irive them extra interest anA put your bonds on the market at the Iowa, Telegraph market price," to purchase gold and ulver to pay them interest every s?x the principles by which he was once Formerly a Democrat m fact, he He is to his executive master what the Simian is to the organ grinder. A more pitable fall from a lofty pedes tal, a compietercaseof self-eflaet meat, lias rarely been witnessed Dubuque This is business. That is all we know. Slicking to the p rty while we g Can ou disttnguish livtwcen moral quality of legisluLou which raises the burden of debts b) in creasing the value ui u oi.e, and a change iu the figures on a check or a bond which will accomplish the same result? U no: Uie Jar :;,.lL the former is a result of a ; ;,.ie fradulently or iguo:ani.v laacied and the latter a er me of an udn n "iJuoa i statute Ui suostauthd difference in the tiitiml qua'.it e s t)f the two transaction?. If the managers of coacearuied capiiol Ii - ''V .nay mnocently tututde the v of id bomis by legislatiou why is a criminal for ihe pour man to aceoui- I .1: 1. .1.. . ragged and hungry, both us and oui 'iluv pawn as to a ehildren. is proof of our Democracy i H,U(i '" lhe change of a li-mn We -lory in our faitii and Brmaeas j former r',l,!S bol h ima We will work it out on this line ii ,vUlle ;iUt j !,i,! ajui5 ih it takes oui live-, our farms and ail I ,uai deUtor. William 1. S.ev we have. s.il it! i e lace I i back to the House. The billand Senate's ammendments I was returned to the house on the ldth. iusiaui. ana on mouonoi .nr. oievens. was referred to the committee on Ways and Mean. This committee hatl months. Yes. sir, interest every sis Yes. sir. entirely willing to loan monev on these terms! no hazard, set nre payable iu "coin! and the interest Who would not Title . , , j ut uuiiiui loizeijer be See vrlrtrv onrtnrh in rtn& r-im- n " ,-.. ! w,lb determined put umv. 1 f you ign to last us to another. 1 - tr Uave u tesAe b.r a game 1 frve.zeoui e would r-.ther carry a torchlight I . , . . with the people. Who needs the ia a Democratic proceion than t. ! ' '? ,tva3iou partj Wl,tor and , - , . , , iwua joar irtenns. rue results will ilwell in a house of plenty with oui i . , . Money is not quite as scarce with the banks as it was. but it is scarcer money, the bank, or the people? Who pen Is money and make times good?, wife and children. be willing to loan monev on such j Certainly not the banks. Then win a long discussion terms bir. the iesra tender Trea ury note bill was intended to avoid all the such Boanctenng and protect upou theUovermiu.ut anU pe0l wiju m juen wuj n e woum ratner wear a UemoeratM: Ca d tJuBisa b their w, r io.k for not;.! limes because money j rooster in our hat than to be clothed ! Lhe man who wants to increase the accumulates in the banks? Rathei in One raiment and lake nnr tir.,l ..;. l ain. .i n I - ..v.v nui - uiuv vrt iUC UmCU UUtia pay: the 1 louk Ior lbe reverse. Iowa Tribune. I a buggj ritling. lar Is a thief. National Kefonner. of