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The Democrat.
A Weekly Paper on lave Issues
Polished Every Friday Morning,
at Orawfordville, Ga.
W- D- SULLI7 AH. Propris Lor
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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
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JlTEY **** I Mil fl |!
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im fl 1 ^ 3 \ \ ' v L a • a, I *
£*^y\e A® \S ” 9 s ' !•
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A\S® A q ©° 6 iI 9
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!'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
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jlw 1 lvw tt« nniii 1 c, #
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** 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,.
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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 •
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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.
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e.
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Prepared , by . _ J. . G. _ Ayer . , LO.j _
ur. ci
practical and Analytical Chemists,
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■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.