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About The democrat. (Crawfordville, Ga.) 1877-1881 | View Entire Issue (July 18, 1879)
The Democrat. A Weekly Paper on lave Issues Polished Every Friday Morning, at Orawfordville, Ga. W- D- SULLI7 AH. Propris Lor HATES OF SVliSVRTPT10X: Singh* Copy, Copy, (one (six year,) S 2 00 no Single Single- Copy, (three months.) months,) . l »> . . . li/~ Advertising rates liberal. HOOK and JOB PRINTING a specialty. Prices to suit the times. Xcw Advertisements. T?7?r;’i-7Tfr £ U ii.il J, 1 i TTD U , n’ Jiauect “E* tiClidirCU; ~ T s-w.,1 f 1 - BT „ v - i; X 1) X HOT * J ® * JLt Vf'KV \J V-'XV „ 1 • • t KAWFORDV1LLE, GA. I take this method of informing tla* public and all kinds my friends E that lam order, prepared such to make of urniture to as mil'sIUIU BuilxtlUllls 8 , RllTPllK Ull 1 1 itUN, Wardrobes, Safes, Cribs, Tables, &e. Either in Pine, Poplar, Walnut or Ma hogany, in the most workmanlike manner. ReDairintr ini, 01(1 viu Furniture xuiiixiuxv, and Chairs will also be done. UPHOLSTERING In CANE-SEAT Bops and Hair CHAlKs. Cloth • and re-seatin™ “ CKIBS, Keeps CIIADLES, on hand SAFES, &c BEDSTEADS, wU1 t eas°nable, and to suit tne times. COUNTRY PRODUCE will he taken in exchange. EET Give me a trial and I will convince you that 1 mean what I s:iv. FRANK P. GOLUCKE. may!),’7i)-t-o-o A CARD. AtjetisTA, (!a., December 10, 1878. To my Friends and the Public: I have opened Street, an office, and engaged rooms on Jackson in rear of Poul lain’s corner, lpropo.se, devote after entire the attention first of January, Legal 187!!, Business to my he entrusted to such as may to my care. 1 shall attend regularly each term of the Superior Courts Glascock, in the. Augusta Circuit; also, Warren and of the. Northern Circuit, and Washington and Jet ferson, of the Middle Circuit. I ask all my friends to give my successor a fair trial and earnest support. January. 7,1870. Vt’JI. GIBSON, 1,000 MILE TICKETS. Om&oSrEBAL „ pisVr.Nw.n ,, . Aorkt. isT<)X Atrousw. m’oni'iaY. \-,r-i ."tii 'iW., * /COMMENCING 7th this Comp-tnv win sell ONE TIIOI'S AND MILE TICKETS, arond joer mnjn iUm-Vi'lni n'm ? t 4 o<I >r * , 1 , 'i' u>s, Ti at J!'!! ^ 'D'* 1- ' < 1 ftim’i 1 - Uv**eom m hf ned! hnt not to flrinstuitl E. ll. .iOLSLY Mays,187!i. General Pm-.-nger Agent. — V m . uJan mk \ 1 E m m Aoc-0-U 7.°-j-y 81 . Something for the Masses, A 1.0tV*FKlCKI) DAILY AT LAST. THE LEGISLATURE. So many newspapers have died in Atlanta, that wlteu the Daily Post was announced, the general opinion was that in a few months it would go like the rest; but not so. Very soon it will be ONE YEAR OLD. It was announced as a low-priced paper for the masses, at only 84 per annum. It lias succeeded beyond all expectation, and is to-day greatly im¬ proved and still improving. It is just moving into a large and HANDSOME NEW OFFICE, nnd proposes I o serye the people better than ever before. Last year the published the juoceedings of the Legis lature in full and reference is unhesita tingiv made to the members of the Legislature in each county for proof of the assertion that the Legislative reports in the Post were . THE BEST AT THE CAPITAL weSLliu , . y , ImveHti. .“CTaroi .-V* . S , , , . -......, v ° yi ,( ? rU ,‘. 1 tau .... '“.I*, .Mr. \Y V- H - hut by. in ne House, and a competent repoi ter m the Semite. the people may i eve full proceedings of tms imtioGuiit m' wi "n i to ma i the Daily i L ttir- --■ a; montos !<<r one dollar ; or one (1 mornh, .legimong the S 0 ss! •. ti •. iiii *±i) cents only. Clubs -t- " v-if. m r*e- ‘ . te \, f 1 l r s ‘vr' 1" !'■•• 1 Address l 1 ub.urning • Company, e X a idLi *■ jJ ' 11 -• E. Y. CLARKE, juneG,187C.j-m. Gen. Manager. W. D. TUTT A , ,, STkf A yr I ***■ W ” 9 Thomson, ga. Will prnr-t;.-e in th° Northern, Middle and to Augusta ' ireuirc. an<l Prompt attention given all claims collections. a: rt,'7‘.)-j-y BteaeUir/gs fro:;-. 3 e to to CMFEBb. cts per yard Job printing neatly and cheaply exe¬ cuted at this office, rn ! )emocrat Vol. 3. 0-0 AHD RELfABLF !• SDb Sakwrd’s Tw™ ^ !ao oR ;; its a standard Family Remedy T , for ^diseases Sand Bowels.—It of the Liver, is stomach ft.!» Purely Lfi W% <[Vegetable.— I It never 8 I dMi ^Uitetea-Itw tv ^ 9fl I I *&\\ ^Catharticand STonic. „%2fr I 1 M ISPTi'*® gLp***f j! JlTEY **** I Mil fl |! «;IT 8,8 ST »'.is 1 ! [ > im fl 1 ^ 3 \ \ ' v L a • a, I * £*^y\e A® \S ” 9 s ' !• 0 o\\\ 0 rvv|S9 b \, 6 ’|; . 'Ys&U°U\V’f n n J! 4 0 A ^ At 0 ^ sV i; J 0 rt 6 W M !> ’! a S &Wa 0 w®' ' HS 5 \a B M M 5vA® V■ a *!> -G*-£w'£4 | II ■ Mpf? W .- ! 5* B 8 fl a JPvoV AP* 0 A' g % I otf 'i ! i ■IS'L P»*T,e ^ ^ ' l! ' 6 \,P (f <0 » WT!■ 1 ! |^*l S 7 ” e V s ' ’ l'* f»V\® ig !> A\S® A q ©° 6 iI 9 <> V - v b 1 ! J.gG'* ![” f\ a ve® 51 m B S 111 v! ' 1 !'A 1 B ll^wJ» 8 MM S ^£ % Tlie]‘ J|q 0 & ■ %% Li ver(! <;. 5 b •. *'*54 0 °1C**Invigoratoi'! 911 Mill Hollas III B11 •&’*;„ been usetlS .^5 (lllllvnnil mv nr „ nfi( jlw 1 lvw tt« nniii 1 c, # ally more * llaB years,? j 1 ?■ -*i unprecedented results.;, ** SEND FOR CIRCULAR.;! S'T.W. SANFORD, M.O., iflw yohk^jty!> astDRV 8 GI 8 Twiu,TEu.vov itsRE iTTiTiox. ;( MMMMSMvrtMsttMssMMsw ApriU,1870.i-*. !*;1.50 StO]) 1 fit tllC $1.50 xfl-II*. A lijynfifo It* £ m E llsxfnl \S 1 ( 1 ^ c. . 'ii *' , a UGCi’cjlcl. *i,. ■ li , Usi wU, - Corner Brood & AYushington Sts. 1 1 .■ropnetor ot . .ins t oy.ular Hotel, to tie- 7 •'’:.vd f,"- s-''.,tV v2 to LOIWilS’G. 8I..K1 |><*r dav. MEALS ..... AND r..ie. e; <:*,!. N«>t\- iih ’.nn::; • , iuiih-r*iG - vereduction, Un- yputnt < n of tie-I'm ... i'res U “‘nua-.o-ment, \s. , ; i \ sustained. Till' ArCfUS.iil tL Hotel i- ee«v-«i-nUv mat,--. - - , ’ , * • uj. Ti! 7. ■-i ‘ i-.ii oaiei-in '. “i" I'niiiiin » M, . . iiiij'Jiwiii, rrop , W . r. jujJc-'O/Tb-t-o-o N ’ , '' v L\ K. ivnox, t r Rooms and Eaiin o' HOHKO ■'■"J 'L’HOMSOX, C 1.0HGIA. Trac.-P-i- and tin- pu'iti.- g'-iu'rally ar- in formed that l am pn-psivd 11 accommodate them with BOOMS, and t<» f'ur'nish m<als at mnm'vsni-Dd’e '<Vi ],i-’ 'c-jii thw b *‘” t ilnr-is-’Vii-t'-d-o ' v • ____ B T • '! t * VXrf *i* >Pr ?>«gi.s'f'j-ff SUPPLIES. Works : Christiana, Lancaster Co., Pa. Office: g:s b. Beaver Sjt., York, Pa. nov.l,l87*.i-v. Ayer’s y-tZ'. * - ■ o zv. ,y, % ns M e. Cathartic Pills Combine the choicest cathartic principles in medicine, m proportions accurately a<i justed uniformity to secure of effect. activity, They certainty, the result and are YST thf edy yet discovered for diseases, caused by derangement of the stomach, liver, and bowels, rvhicli require prompt and effectual MR thNrfa%U,f VlVvestive mM’’'Tliv esA ' '.tiv,' £-7 •lirectly on the and , and r** 8 t<>ra iif-n;?by ac tion. Their extensive ii-e i >>• j »ii - i«• i ,* > > ,s in their practice, and Ly a!i f iyiii/.ud v -J oin, ? medicine. Tb-hrr < - , c* -i o: : 7 <- << n centrated virtues of j ; ■. ty vi-grtahh: rhIi stances, they nr<- posh: • y fpe from mrd.or any m.mra ? s nrorernes, ami^ administered to elmdren with perfect e-uay. Arm’s Pmt.s are an effectual cur- for Constipation or Costtveness, Appetite, lu-iigos tion, Dyspepsia, r^ss of I OH I Stom&c *1 cl - I « ‘ - res. il, DiZZiii Hoadaelre, Biliousness, Los* .laundicc, of Memory, Uheniiiatism, Numbness, Eruptions and Skin Neural-,a, Diseases, Dropsy, Tumors Worms, srate;j,;r.!i Colic, sbtdJSssd otlier diseases ilting from disordered r< a state of the digestive apparatus. As a Dinner Pill they have no equal. Wldle gentle In their action, these Pitts .»the most thorough and searching eatbar tic that can be employed, and inflamed, never give and pain trains; Ida bv-rels are operate to purify and enrich the l4oo<!, and impart renewed health and -vigor to the whole system. Prepared , by . _ J. . G. _ Ayer . , LO.j _ ur. ci practical and Analytical Chemists, Lowed, Mass. ■OLD ST ALL DBceoisrs zvziirwHERz. Mavis, 1879.j-y. Georgia, July 18 , 1870 . JU.M M iwcivllooivivnc LIHHCUUN. ^ Truth is Mighty. As the little leaven hid in the measure of meal, made all leaven, so truth gradually overcome* all doubt and disbelief When Dr .V- Pier V, • of * Buffalo ’ X Y ’ announced .. that hu. I write . „ Prescript.on ... d , ■ a won *'iel.v cur<? Die ,nan F diseases and ucak nesses peculiar to women, some doubted, and continued to employ the harsh and caustic local treatment. But the mighty fruit gradually become acknowledged, Thousands of ladies who had uselessly un dor different -one untold tortures 'in- at the hands of idi v-K-■ enmloved the Favor Many physicians now prescribe it 1,1 their notice, so sanguine is Dr. Pierce of power to cure, that he now sells it through druggists under a positive guarantee. — — — • — THE illLi TRADE 1 UA1,lj I/UUlMUk DOLLAR l f - SPEECH OF HON. A. H. STE PHENS, OF GEORGIA. - Delivered in flic House orKciimcntatlvcs, Thursday, June loth, I 8 itt, m Revlted an Abridged ov iiimseif. - Mr. Stephens said: I have, Mr. Speaker, but a short time reserved to myself upon this question. Ido not think it will take long,-however, to set fort li its great merits, after what has been so well said by several in advocacy of the bill. I wish in the first place to say, in answer to arguments on either side of the House or elsewhere, wluit this bill does not do, and in the next place what it does do. in the first place, if my honorable friend from New York [Mr. Morton] who addressed tiie House first yesterday will hear uie, it is not at all in the in of the Chinese. It confers no benefit upon the Emperor of the Celes tial Empire or his subjects. It confers no benefit on any speculator in bullion, It does no wrong to any mortal man on earth or to*any class. It hurts nobody, t may prevent some people dealing in silver and acting as brokers from mak ing profit on their operations. There may be such a class in society who deal in the hard earnings of the poor; it may Invent that class from making gain out of tins blood or sweat money of the poor which they otherwise would make, but it hurts nobody. It does not hurt the Governmeiit. j Tlio Gentleman from New York [Mr. j Morton j yesterday intimated that it i would cost tho Government », 0«b more to take up the trade-doliartliau to pay for the bullion in the country. It pays out no money to anybody; it directly benefits the Government, What does this bill say? There-are 420 grains of silver in the trade-doliar and this bill provides that the moot ; ball exchange it upon presentation for a silver dollar of 4l2j grains. By that operation the Government will make 71 grains upon the dollar Whom docs It hurt ; whom does il wrong? i s it y it wrongs nobody, neither the Government nor one else. Now, what does do ? It does two things. It does justice to the people audit indicates the honor, integrity, and faith of the Government, which yesterday ought to be done. Some gentleman if the spoke of this matter as trade-doliar was issued as bullion for China. I was amazed to hear that statement. Issued as bullion ! Mr. Clerk, read former section 3513 of the Ilevised Statutes The Ce.lrk read as follows: “The silver coins of the United States shall be a trade-dollar, a half dollar or (Hty-cent-piece. a quarter dollar or twenty-five- cent piece, a dime or ten cent piece-” Mr. Stephens. That is enough, That is from the act of 1873. Does that say that the trade-dollar shall bn bullion for China? The language of that act is that the trade-dollar shall be one of the silver coins of the United States. And the next clause of that act savs that the trade-dollar shall con si die c t of U’0 grains "of of coS? silver I sav that faith the «• pledged by that act. and its stamp is upon every trade-dollar which it has issued faith The ob’ect of this hill is that , he of this Government shall be , . ( . . . . . . 0 1 iie trade-dollar , „ was declared , , , by law 1T ] ^f ’tie 1 sum .tender ot for •>. the )ust payment the same of as debts sub sidtarv silver coins were. There was an obligation on the part of the Govern tn Uke U,, ‘ ln - SinCfi th "' n tl,,! ‘ rad-.-dollars have been demonetized. ^ tn<*y utv *ifloat in the coutiti’y, iiurl 1 Uo honest laborer is receiving them, flow t ho t rarie-dolhir became deinone U-l the g-ntWin Illinois Dfr. i uigte ; and t l.e gc ntl(*m,in fiom ISew But Y-rk the [Mr. O.x] have just explained. faith of the Government never ,. ouUt bo obliterated .(Sue by that act of (!emollf , t v.ution. Tim just read declared, and Uie faith of Uie Govern tn-iif is pledged, that the trade-dollar should be of the coins of the United si ■! “ f f-s ' N ow. 1 am not here to designate any - thing as a cheat or a fraud. The trade »*»,,«i.™»ww™ was demonetized in 1875 I do that time there had been coined and issued several rniilloDS of trade-dolkirs The faith of tho country had trade! bom pledged that these millions of dollars should be received in sums of $3 f„i the pavrre-nt of debts. All I have tn sav all that tbe ' frauds of this bill t ... ; thnf t f , ^ZSfk^iS r pi faith, should take up these trade-dollars and exchange them for other silver dol la s of 4121 grains. The Government will make 7* grains on every dollar by that ,q>eration. Whom will it hurt? Nome. Whom will it benefit? It will benefit the honest, toiling, laboring millions, There is hardly a class in society that it will not benefit. The merchant, the tanker* the shopkeeper, the traders, laborer*; almost every class of the commi&iiy will be benefitted by it. The Government of tlm United States lias issued this coin ; it bears upon its *»<* tfe* stamp of the Government, Tl,e P<"* ignorant laboring-mail seeing Duit stamp J of the Government upon it Wiev that it j 8 a coin of his own country, and reiving upon that stamp takes it in payment of his debt. When he comes to pay his debts, when he comes to pay his tobbacco tax—yes, the poor humble black man who lives as a upon mv/arm, when he goes to pay his tolracw#* * with that trade-dollar which b» lias iipos »P* .Vf it it the the stamp stamp of of this this Govern ment -c»t isTbfused. . u«d. Is a that ti,»t »« not w rong ? ,loiiar. I do uottaie who may have this trade lam t no res[a:cter of persons, ,m,. L .ono wtioevef takes it, the honest laborer, the banker, the shopkeeper, the ferry man, whoever takes it should have it redeemed by the Government, That is enough^bout amwdments this which bill, l excels wish some refer of the to to. There are some, other things, how ever, to which I want to refer very briefly. Some gentlemen have argued that it' we pass this bill we will have twenty-eight millions of these trade dollars returned to us from China. Bv adopting an amendment which is to bo offered to the bill, no one need appre hend apy such danger. But I am free to say that I wish it would bring back all the millions of trade-dollars that are now in China. It is said there are about twenty-eight millions of them there. 1 would say to every silv<y- coin afloat #itb the American eagle on it, “Homeward ; we want you.” But how is it going to effect any result? Do you suppose that a Chinaman will bring over here420 grains of silver and give it to our Government for 41dj grains? Never—or iiardly eyer.— hardly [Laughter. “child-like” 1 The Heathen enough Chinee that, is for He will never do it—or hardly ever. [ Renewed here from laughter.] China 420 \yiiat grains 1 of Bring sil over | ver in order to get 412] grains lor Even it from'our Government V No, sir. j the Heathen Chinee will see that that will not pay the expense of the opera- 1 wish that could be done. I will tell that I am not afraid of the silver j that frightens members so much, I want all the silver that we can get , The trnde-dollar is now under discussion ; I know. But uptin the general silver bill, v liieli is now in the other branch of Congiyss, and which was here before us a short time ago, 1 will say that 1 wish wo the wiflild obtain possible all and the coin silver it into bullion silver in j dollars. ^ Then as to (he influx of silver from Germany and other countries under cur bill policy. Since we passed the silver Germany has changed her policy. The nations of Europe are beginning to see the great error they committed some years ago. I make the prediction here , to-day that in less tiian six months Eng -1 land, France, Germany, and the Latin states will he striving to rectify the mis- will j take they have committed. There | be a revolution of public sentiment question. in i I those countries upon the silver That revolution is going on already, Why, sir, tut I have said, since wc passed the silver bill Germany has changed her policy and refuses to allow any more silver to be sold ; so that if we pass this bill we shall not receive that 875,000, 000 of silver from Germany which, flooded gen tlemen anticipated we would be with, and the silver from all the other countries of the world. J have in my hand an editorial of tho New York World of a recent date, which 1 will not read bui hand to the reporters to be put in full ih these remarks, showing a great revolution going on even in England on this subject. The New York World lias, up to a recent date, been opposed to the policy of tho silver bill. This is the editorial to which l refer : the silver question in England. '?'} en c ^retaryEvarta , . ” lir T , delegates . advised , . to , the the .. conference of last summer m Pam >«e cleverly characterized their mis* BWn HS a Teconnajssanec. ’ Such in fact il TY ' 1 T ^ ^ '" P 0, t showing that monometallic Eng- r iHnd held the fort and gave no sign of a Wlsh 10 D all< ‘Y- A ll!ts Ilot l’ aSH, ' d a lld Die situation is changed. Many . show tins, hut Clearly signs no sign more than a paper written by Mr. Williamson, of WilliaSspn the great Livernool house of Helfour & Co., upon the discrediting 0 ( silver, m tlie last number of tho Con itmwrnnf Review. Mr Williamson lias is moved to'discourse eonv’ieUons' not because lie ” i) v cherished to maintain, [ ike Ceriifcrchi and tho philosophic Mine t<ilisLs; stiil less DeCfiuso he thinks the rnoneUzation of silver the ‘burning niiesJ ion’ which it wUtfli !ias not vet become in England He simpiy as a man of ini si ii ess wiio is seeking in a practical way to adjust means to ends jjjs special end is tim revival Ji of British trade K.’ wdchlH i.ZSnt md ... -thl . nm fndS of re And and him,’ essential means to it according to is the remonetization of silver Al though he admits that over production and , excessive • credits will account . r foi ,. the I panic of 1863 and for the depression of the two successive years, and although he admits fmther that competition, par narrowed the market for British pro ducts, he insists that neither of these causes will account lor the depression of British trade in markets of which Great Britain retains tiie monopoly. He ex plains the depression in great Part by ttie deim> eti/.ition of silver, just as lie SStehtoTpSdta ,;,, s the a, out extension of commerce California and Australia by the fact of those discoveries. Upon this point Mr. Williamsoa challenges juetty much tiie whole of recent economic literature.” “We have ti. tb.s, our late national experience, a direct contradiction to the theories of some political economists, who assert that, after all, international commerce is only barter, and that money No. 28 . has little or nothing to do with its tent or volume. The very small ure of truth underlying this assertion has led many intelligent minds astray, It is because the largely increased supply of money bad guaranteed to men and nations the payment of large uonal balances, that the volume of the world s trade, prior to 187t. bad ment*d with such marvelous vapidity, And now- it is in great measure because the world has of late greatly restricted and diminished the capacity of its money reservoir that distress and calamity augment and intensify around ns.” ‘-The effective metallic capital-of the world of late years Mr. Williamson puts at at £l.4lW.0nit,000 £1,400,000,000 divided divided not not far far from from equally between gold £750,000.000 and silver, or, ». ap proximately, into £050,000,600 of gold coins nnlnc and bullion, o»wl and OftlfA AA/l Am* of silver coins and bullion. The of this volume of metallic currency began with the English legislation of lSlfi, which deprived silver of its legal-tender quality. ‘For years,’ ho says played upon the currencies of Europe. and often swept away large quantities of silver for transmission to rtidia, where, with an admirable contradiction in our monetary legislation, we have en forced a silver currency. While avail ing ourselves of the stores of silver he longing to our continental neighbors, wo constantly vaunted alrnut the superi ority of our good currency, anti stimu lated them to follow our short-sighted example.’ Germany demonetized silver in 1874, and thus p’t upon France the absolute compulsion under which that nation suspended the free coinage of sil ver. By this series of acts the mntallic currency of tho world lias been reduced from £1,400,000.000 to £800,000,000 according to Mr. Williamson’s estimate, anil he expresses his surprise that in tho face of this reduction men should ho at a loss to account for the greatly reduced interchange of commodities, and the greatly reduced prices now paid for pro petty, for goods, and for labor.” “Mr. Williamson not himself alone, be it observed, but for tho great commercial community in which he lives. A special committee of inquiry appointed by the Liverpool Chamber of Commerce to consider the silver qtios tion has reported tho following conclu sions “First. That the recent shrinkage in value of the world’s money, measured in gold, is very large, and there is every reason to fear that, with the prospect before us, tho depreciation will continue to increase.” “Second. That there lias been, besides, much diminution in the value of investments of English capital in the public using country.” funds, railways, <tc., of silver Hurd. J hat we arc now compelled to look upon the silver of tho world as in large measure cut off from its previ mis sphere of usefulness as one of tho two agents for the liquidation of inter national indebtedness.” “Fourth. That the serious diminu tion of the world’s money caused liy the disuse of silver may in the future lead to frequent panics through the inadequate supply of gold for the world’s wants.” “Filth, T lint the uncertainty regard ing the course of exchanges in the future largely of prevents capital the in further tho public investments funds of English railways, silver-using countries or in industrial enterprises, and commercial credits.” “Sixth. That the friction and harass tnent now attending business with silver using countries, as India, China, Austria, Chili, Mexico, and others, naturally lead merchants to curtail their operations in the export of our maim factored goods, and to restrict the em ployment of English capital in such business,” “Seventh. That this is a most serious question for India, which many believe to be so impoverished as not to be able to bear increased taxation.” “Eighth. seriously That affects the the of silver power silver-using states to purchase English manufactures, and leads to increased taxation, thus further curtailing the trade which has hitherto been carried on in English commodities.” “In two additional resolutions the committee assert that the fall in silver is attributable to the suspension of free coinage in France, which in turn was produced by demonetization in Gcr many ; and that the bimetallic system of France and the latin union before 1875 tended to give stability to all ex changes between England and silver using countries.” [The remainder of the article here omrnitted for Speaker, want of space.] Now, Mr. five or six years ago there were in the world about » 8 , 000 , 000 , 01)0 of metal money gold find silver-w inch have been the money of world from H pejiou loug nutfiioi to , to Cirecmn Herodotus, long anterior lustorv—which were Uie money of tho wnibl eyeii long J" -he time of the puti mi chs. Of t.!e -< -- '• ■ < metal money 34.500,000,000 were silver, Die ust g'dd. What was done by those nations that demonetized silver? At one fell swoop they deposed from its functions more than half of the metal money of Uie world. Tlien began mone tary revolutions. What !ms been our Ln nusibfss si Ilf'S 4 * li nisi j stor >i> V Binec* sinec t rnc i ie (1 umuu 11 i Led St lit i f’S s adopted the policy . \\ liy, an, Die h'-t D' ar following demonetization here there were.upward of seven thousand failures W of li.ibUitn.s , thy h,.av ytai upwaid of nme thousand ot the stuidlest houses 000,000 of liabilities ..L ?.' 1 *'' 1 the .' v,th next ''^ year r tee ; » D » )o,/({§;'(^;/fiabimics hu ;> <* J) ‘ - and ] ‘ tiie t< n th f n. ,,n- ia« • Upward with a still bn get amount of ^UitUta, over * W bOMb From 1874 until the close of last year thirty-six thousand houses, considered the :lanciiest in the country, tailed with liabilities amounting to over 8800,000, 000—almost one-third of the public debt of the United States. What vow the cause of this ? The gentlemen from Ohio [Mr. Garfield] entertained us the * other day with an interesting description The Democrat. vhyikti-ivg Ktrr.s: One Square, first insertion . 5 1 oo One Niuare.ow hsnbse jui ntinsertioii. 57 ! One Square, three months 10 00 One Quarter Square, twelve months . 1.1 «<l Half Column Column, twelve months . . 20 0» twelvemonths 60 On One Column twelve months . 100 W> f One Inch or Less considered as a square. We have no fractions of a square, ail fractions of squares will be counted as squares. Jtx-ral deductions made on Cun tract Advertising. of a scene that lie witnessed on the Ob o Kiver of a hay-stack with a d.g fast asleep upon it floating down the river while the dog was totally unconscious or the flood or his danger. It s . ms to me that many |HO|>le of this country are Homing down upon this tremendous tide of ruin, and are just as unconscious as that sleeping, a! lminter. setter i.amS terrier hound, . i cur to what has (Laughter and applause.) I do not know whether tlie dog in quest ion was « anil pup or a grown up dog; but they say, I In-lit v« it is true, that it takes '<* pup nine days to get itseyrsopen. Boron people, who ure going down upon this flood with their eyes open ; but they will will see see the the truth truth lifter afn-r awhile. awhile, A large part of the cause of these disasters was tiian the striking half o? down as currency of world” more f the * »— real .....1 c. * . money . . oH.be . , , But it is said we must await tho action of European nations. This is we were told yesterday. Sir, X predict a change in the policy of Iiuro pean nations in this regard. I venture to predict that by the next meeting of this Congress there will he such a tide in favor of what is known as our silver bill that it will sweep everybody In this country, pretty much as the haystacks won- s-.vept down the Ohio River. Mr. [lime the hammer fell. I Stephens. 1 trust I may be allowed a few moments more Tho Speaker. The Chair is aware that members desire to hear the gentie man from Georgia, and lie will proceed il no gentleman objects. Tim Chair hears no objection. Mr. .Stephens. Mr. Speaker, I say as an American that for us to await the action of a European conference upon the change of the relative values of gold and siD chimerical. Why, sir, wo have a d it 'vh,.,h will forever prevent. We have a ta ut of over $2,200,000,00l> vvliich by the terms of the contract is to lie paid in coin of the standard value existing at the time the debt was con* tracted. At that time the gold dollar contained '25.8 grains and the silver dol lar 412] grains. Now, the gentleman terday from Maryland [Mr. McLane] bimetallic said yes that lie was in favor of money. Nearly everybody on the other side of the House has said the same.— Now, if wo have bimetallic money, that is, if we are to liaye both silver and gold as money, this standard must be pre served. Wc cannot change the silver dollar. Suppose we increase it as was land propo ,-d by the gentleman from Mary [Mr. Kimmel] to 4t)0 grains. That would increase the public debt about 11 per cent, and virtually add over two the hundred million dollars increase on public debt. 1 have not made out exact figures. Suppose tho silver dollar should I* increased to 487 grains, as another gentleman would [Mr. Garfield] of suggested; public that lw an increase the debt to the extent of 1!) per cent., or over 8100,00(1,000, with fit!,000,000. an annual increase of interest of about Can this country do knj(Lhing like that ? We must consideritasafixed,itnmuta- the hie fact that we cannot increase weight of tho silver dollar until at least the public debt is discharged. That debt must be discharged, every dollar and every cent of it, in good faith according to lue contract. The standard silver dollar when that contract was made was 412! grains. Therefore J say it would bo chimerical for us to join in any European monetary conference to change the present standard of the legal tender dollar of the United States. Such a proposition is preposterous, Do I understand the Mr. McLane. gentleman from Georgia to say that because of tho existing debt of the country is to he paid in coin at the stan d ard value when the debt was contracted, therefore this country cannot tinder any circumstances tegulatc by its legislation () lfi relative value of gold and silver Air. Stephens. If. cannot without the consent of the parties to the contract, Mr. McLane. I understand the con tract with the bondholder to be that the bondholder shall receive liis payment in f.„ ni „f that standard, and that the con - tract shall he respected ; but do I understand the gentleman from Georgia to nay if through the fluctuation ot either metal it became necessary in order to keep the tw r o coins in harmony tliat we are deprived of the right to do j( j,y | aw ? Does not the contract with |j ]( . bondholder remain still good, although we may change the value of our standard coin ? Mr. Stephens. It does not, because u, e contract is “coin according to the then standard.” Mr. McLane. To pay according to the then standard ? Mr. Stephens. lu the coin of the then standard. interfere Mr. McLane. Does that vviu , ,t of tho nation in pit: su u.ce <>f the (b'o^iitnho» of the » *iiL<*<I k *' *Des an< j m view of its gem-id trad a and eoimricr.*''; to niter tlie r<dative, value of llH , (f!ll ,„,i , fiver com when and how it pieases Stephens. t It dots far tho Mr. so as bondholder is concerned unlr s he con Mr. McLane. So far as the bond hold t is concerned ? Mr. Stephens. Yes. By our contract w <- can in either silver or gold at the then 1 1 . . -stand. ,. * ... 11 .not * , c f.omse h.A< i»• • y«» t U»o Hp t iglit to pn.. ins tv r .it U_'l gi tnus to t | l( . dollar, and the bomlli »kler is required t o lake it. Now, then, to prone, d • 1 t 1 r the gentleman on that , point. I am 8( ,rry to interrupt him, but 1 presume lie would uot have it go to the country we ar , ; through id t ime prevented from U ral'r 1 H* er'it fple v et. u whetbe. m it may be to ra.se the silvt i or oepress the goid I care not for y, ( . moment. And L do not think the genUenrau from Georgia meaijs to assert we have m pnud °am. Ivis of the con stituti-rial right to regulate the value oi gold and silver com. ^ .: tie does, 1 with 8-11 due submission Liner from him in >"t\ ^ c u’ Nit-Y 1o ,,_ ‘ canuoi, - 1 iw , ‘ u- i wuier ‘ jn ‘! m jusvi.l t „ yuuv A von ur , Continued on second, Page.
