1
TUB
"CLEARFIELD REPUBLICAN.
fl(M)l.ANHKH I.KE.
OUtHrlkLU. FA
Tti largest ClrrulatluM wl a New.papr
Is North Oittral P.iiHutlvalila.
Terms of Subscription.
tf n.ld in idrMN r wtlb'B I u.i.ulbe....'.' (Hi'
If paid n.r ittiH lel..r. - scinlbe .... II Alii
If naid afiar ibr.xpir.tt..B ut a uiunlba.. a INl!
Rates ol Advertising.
Tr.niient adrertlaetnenle. per .quarouf la llneior
:t lime. ir 'e.e. 1 la
' ... ..ei ul)HMupni ..esrlton n
A iininl.tralnra' and Kxeentnr.' n.tlloea. S lit
Auditor' nidleee H S 6n
Cation, and BrlraYe I Ail
Dlaeolulion anileee. 1 AM
Penfeaewnal Carda. 6 line tir leae.l year...- a Oil
Ical nottcea. pur tin tit
VRARI.r AllVKHTIKKMEXTft
I i.itare ,. s Oil I I onlotnn.. .M1 nn
t i.uara.. 1ft On eolutno Til Ml
lliuam. SI fin ' I nnlntnn . .. 13a an
il. B linnm.ANllKK
NllKI. II. I.KR,
Puhll.here.
(Tards
.1
on piiivn.. or v.vvhy ukchp
Tr.ri um coKwi ami.kh' vat-:
W aata printed larya nurahnr ol tha w
PKK HILL, and will on tha nmrnpt of tniy
H. W. SMITH,
TORN EY-AT-I.A W
I Ic.i Ucld. Pa.
a r
llll:T
J. J. LINGLE,
ATTOKNEY-AT- 1. A W,
ill Philip burg. Centra t o.. Pa. jr pi
G. R. & W. BARRETT,
Attoknms and (;uUNr.Loii8 at Law,
CI.EAHPIKI.D, PA.
Jnnt; "(I 1878.
ISRAEL TEST,
I'TiHI N K Y A T I. A '
Cleardeld. Pa
0-trvr i llir Couri Houw lyl 'H
W. C. ARNOLD,
LAW Jt (UI.LKlilU.V uKKK'E
LTkWKNxVII.LK.
21 nfrflfid l'.'Ulii., P.nn'a. 74
g T. - BliOl KHA.NK.,
ATTOKNICY AT LW,
CLtAKUKI.I), PA.
Ufliaa in Court Houm.
., :6.";7 I)
V. WILSON,
ATTOKNKY AT I AW,
I UivtiD Kulel ImilJitif
fli)iU'h Court lluun.
ppjil.5.77
CI.BAH1 IKI.D, PA.
FRANK FIELDING,
ATTOBN KY-AT-LAW,
I'lcardHd. Pa,
Will HtltD'l to all ( u i (Rial uLtruj(e1 to hut
pioin(itly rid Uitbfully. jaol'T
WILLIAM A. WALLACI.
MA NBT r. WALL At.' a.
PATIO L. KMKII.
JOHM W. WRIOLB V
WALLACE &, KREBS,
(Wu - to H lnce A Mag,t
ATTORNEY 8-AT-LAW,
J.ol T; Cleartteld, Pa.
TUiiK. M. 11 BMAT.
CTiii'a auua
MURRAY & GORDON,
tTToKN EYS AT 1. A W,
L'LEAKFIKLU, PA.
JKtr Dfflea ia 1'ia a U..'ra lloa.v, .eeund rkm
K.jii'74
CdARLES 0. LEIDY,
attuhnky at law,
Owm.I. Mill-. CIrfiU C4
Ltal businvn of ll kiul tten lni 10 Pur
licuittr mti titloo j 1 tu iiocuriDi 1 1 (Kiuut.
iraiuiia. At).
aW il, is77 ly.
itinera i. n biallt.
Daniel w. a'cuant.
MoENALLY & MoCORDY,
ATTORN EYS-AT-LA W,
Clearllald. Pa.
-Ljral baeiaaa. altandert tu pruuipllv altbj
JJ.hlr,
umce oa oeoona atraet, anove ;na rir.i
National Bank.
Jan :1:7
wa. a. MecvLLi.ueH, rwrn. tt'i. Il ea
McClLLClGIl & KICK.
ATTORNEY 8-A T- LAW,
llearllcld. Pa.
All Irani bu.iova. pri.iupil, allnid to. OBu.
oa H.ava.1 elreei, in iho Ma.uaie i.uildmi.
Janlu.'7t
A. G. KRAMER,
A T T O R N E Y - A T - L A W
Kaal B.UIr and Collarila Atmt,
CI.KAKPIKI.il, PA..
Will promptly attend' tu all leval hiulneae ee
trailed to bia ear.
ptUm ia Pte'a 0.era II a-'. janl'7i
JOHN L. CUTTLE,
ATTtlKNKY AT LAW
tnd Raal Katala Aeiit. ( Itartldd Ha
OSea oa Tblrd atreet, bat.CH.rrj t Walnut.
EV-Reapeatfallr offere bia aarriee. in .elliiia
aad buvlbf landa In Olearnald and adjniutny
eaatlal t and arttb an aaparienee 01 near tarantt
J era aa a eartoaor, lattera btmaell tbat be eat
raider aallafaetioa. Fab la '3:11
DR. W. A. MEANS,
PHYSICIAN A 8UR(. EON
LUTIIRKKIIIIRll, PA.
Willattead proleaatonal ealla pmaiptlT. augln'7l
DR. T. J. BOYER,
PUYSICIAN AND ID Kll f.ON
UOtte on Market Street. ClearOeld. Pa
-0IIiee bourn I to II a. a , and I lo I p. ni
D
R E. U. 8CUEURER,
IIOMlEOPATIIIO PIIYKICIAN.
Ofllde ia mid. nt-e oa Firrt rt.
April 14, IK71. Clrarlrld, Pa
DR. H.B. VAN VALZAH,
CI.BAHPIkLII. I-KNN'A.
OKK1CK IN MASONIC BUILDING.
t- ODoa boura-Fraai II lo 1 P. M.
Majr u, nn.
DR. J.'p. BURCH FIELD,
Uu Harga l Ibvajia H(iaint,Pitatyivaiii(i
Valaattm, kaftog rurnd froM tb Army,
offvrt bit proftMlooal girTtea u tbaitltai
f OUarftatd auaatf .
aWPrufaiUBIU irunpitjr atUatltd u.
Ott oa ti Monti treat, (ornarljroaeapiac. b)
Dr. Wooda. lVr4,Mu
WILLIAM M HENKY, Jubtici
or twb Pbai b AJiiir.cMiVKRR, LUMUKh
CITY. Cullaeiiont itiMik and mtmvy prouiptl)
p.aa.u urn. nillCIHI III a(rUlU( Mlill t-tM O
aatayanm aaaily tiaauloa aaH warraalfl cm
root or ao hr. t.tj,T
REKD & II AGEliTY,
DKALC ia IB
HARDWARE, f ARM IMTLEMtNTS,
i iitiHara, nana. abc.
aU(l,'77 Fee. ad Mreet, I Irarnrkl, Pa.
JAMES H. LYTLE,
la Kr.u.r'e llullltir, leaidrld. pa.
Ialar in Omeetlee, 1'roeleiun., Veaelablee,
Fr.it., M...r, Feed, ele , e.
nprl4T.tr
HAJtllY SNYDKR.
' IIAMIKR AMI IIAiRUKKfSLR
lb... oa Market St.. .pulta rourt ll.ia...
A rlean low.l lot atrr eu.ti.uier.
Alan atanalaetarer rf
All Kll.de f Artlrlta In lluaaaa Hair.
CWa.bele, Pa. , ,,
JOUN A. STADLER,
BARKH, Market t fWail.lJ, Pa.
.Fraeb Bread, I'.oak, Rail,, PM ..d Oabe.
oa band or Bade u Mdor. A f.r. ami aeaMtnaeat
ot CoalaelloaarlM, Frail, aad NaU ia aanek.
lo Cms and Oy.tera la Maaaa. Rakma aearl.
PPila Ik. hoMltt. prteM aied'rala.
Men l.f k.
GEO. B, O00DLANDER, Proprietor,
VOL. 52-WIIOLE NO.
(fartls.
JOHN D.THOMPSON,
J urn In of tht Pmo and Borivvoeri
rurwrmtvllle. Pa.
ja-fu-Cnllci'Htin ii-Ip ni mitncf prnoiill
RICHARD HUGHES,
JIWH'K OF Till PIACI
rna
Itrcatur Touuthlp,
iWoii Mini r. n.
AM nfllrUI bo.lnt.. aiilra.trd ti. biai will br
prointli,T ativndH b. mrhW. 7n,
THOMAS H. FORCEE,
oiALaa la
UKNKKAI. H KUCII A S DISK
f.RAHAMTflN. Pa.
A In, exlamlvt aianafaetarcr tod dealer la Rquar
tiuImi uil hnwoiI bumuerot ill Rlnda.
ar-Ordir MlloiUd aad all vruaaalli
Iliad. I'Jjinil
REUBEN HACKMAN,
House and Sign Painter and Paper
Hanger,
fltarHtld. Pami'a.
1vWIII aXMBU loha la bla Una uruialtlv aud
In a workmanlike manner- ar r4,H7
Q. H. HALL,
PRACTICAL PUMP MAKER,
NEAR t't.KAKPIKI.U, PKNN'A.
I'uuipi aiwnvn un banil am) milr to ordtr
nn ibort notica. rttiw hureil jo rvaannaM icnoi
All work wart-atnteii lo rulr atiiretlon, mad
Iclivarad If dttrtii. a,r3tV:lYid
E. A. BIGLER &. CO.,
PNAI.KHI IN
SQUARE TIMBER,
antl manulaolurara of
41.1. klKDHIIP HAW I.I) I.UIMHKH,
77J CI.K4HFIKI.D PKNN'A.
JAS. B. GRAHAM,
dealer In
Real Estate, Square Timber, Boards,
HIIINOI.ES, LATH. 4 PICKKT8,
t:ln';3 Cl.arllelii, Pa,
WARREN THORN,
BOOT AND SHOE MAKKR,
Marbat ai.. TlrarHeM, Pa.
lo the .hop laielr eceupleil bv Frank Rburt.
una dour aeat All.gban; Hou.a.
ASHLEY THORN,
ARCHITECT, CONTRACTOR and IH'ILUKR
Plana and Hpcl&aation. furniahad fur all klada
f buildinKa. All work Irrt elaaa. Htair buiM
apt a ai.Mlalrj.
P. O ad.lrr.e, ClrarnvlJ, Pa. Ja. 17-7711.
JAMES MITCUELL,
itaabaa !
Squnre Timber & Timber Lnndn,
lairT I.XKAHPIK1.D. PA
L IL AJ'iMUllUAY
WILL rlllHI LV VOI WITH ANY ARTICLE
OF MkHCIIAMIIG AT THK VKHY LOWKHT
HKH B. t 031 a ANU rJKK. . I:l:7.1:
NllVl WASHINGTON.
WEAVER &. BETTS,
DKALKRB IB
Real Esta e, Square Timb r.Saw Legs,
AND trMllEK OP ALL KINDS.
JP-P' (Boa on nd Hreaf, ia raar of atnra
nrnin of u-ra w. artr uu. JftttV '7 II.
J. BLAKE WALTERS,
REAL ESTATE BROKER.
ARB DRALBB la
Kiiw Iokn and L.uinlor.
OLRARFIRLO, PA
intee In Irabatu'i Row. 1:16:71
8. I. SNYDER,
PRACTICAL WATCIiMAKKIi
ABIt PBALRB
WutuhoH, CliK-k-t und Jtwtlry
Qrahitm't How, Market Sir it,
(ICAhKIKMI, PA.
All kind of rapairuig in my II ni- prnniptl at
-nilrd to. April M. 174.
NEW BOOT AjJD SHOE SHOP.
Tha undrr l)tnpd would tcfurm 'h- puili thai
i bR rfBuvrd bia H -o' and hoe Hhnji to tbi
room tut- Ij Mni.itd hv Jn. lfAriti(. in itaaw'f
How. Markit Flraat. wbora bt ia prapxrad to at
-riirt i, tha wnt" of nil wtm nea l anvihintf in hii
uDf. All work dona by bin will h of tha twi
nalarUl.and UMrnBlfal tu i Drat t lapi in avpty
"H-ot. Hfpatrinit prmitl attanditd to All
RiDilt ol LvHlbt-r atid blf KinHitigc f .r aa a
JOHN M li.KFKR.
Claar..rld, Pa.Julj I A, IH77 ftin.
Clearfield Nursery.
ENCOUUAGK HUM K IMiUSTHV.
'I'HR ori4trFlfiid. batinit aMiPba. a Nur
1 aar oa tb Pik. aout bir way batwaia
CIpa'BpId and (urw-nTillf, ia prparal to lar
nUb all kinili of FHl'IT T K K Kri. (-lanrlarrl and
dwarf.) RvrrKroioa, Bbruhtmry, Hrnt Vinoa,
Umiatlirrry, Ln w ton bUcfcberra, Blrawh-rry,
and Haapbarr Vlnra. A au. rtb rian Crao Trvt-.
Waiaea, and rarl; anarlot Khatiarb, Ac. Urdara
proiaptlji attended Ut. Addraaa,
J. 1. WHK1IIT,
twp2o Curwanavtllo, Pa.
ANDREW HARWICK,
Market utrect. Marttcld. Pa.,
NAB V PACT VR KB AIW MALBB IB
HARNKSR, HALULK, BKIDLK8, COLLAKK,
aad all kindi of
HOUSE FVHSISHINQ HOODS.
A full itook of Paddlara' Harlwara, Rrupha,
''nrnha, Rlaakot. Koboa, aic, alwna oa tiaad
and for rata at lb lowart eaah prion. AU bind'
of rrpalnng promptly i landed to.
aii KiDdtni hidai tnkan id ottchar ta for bar.
na and repairing. All hioda of bar nape liatbar
arpt on aauo. ana ior gala at a aiaall proBt.
Clrarflald, Jan. 19, 170
E. WARING'S
LAW BLANKS
Par aVa at tha CUarflaid ttairat.irAB often.
Tht mo9 i'omplrte fierUn of Law
Tlttra Dlai.ka art got tan np In raprrior ttfla.
at af an if .r aiaa, aad fnmtab-d at tar law
agarta for eaab.
Call at tha Rrri MiicAB cAm aad tianaia
tbriH. Urdcra by am It priMtir lillad
Addraaa, UUOUt.ANUKK A LEK,
Jalj li. 1-77 . Cltarlad Pa
JOHN TROUTMAN,
DKAI.RH IN
1'URNITURE,
UATTUKSSKS,
AND
Improved Spring Beds,
MARKET MTRRST, NRAR P 0.
fbe nad.r.tf.a.1 bep;. kae. to laform the elil.
aaaa ol Clwrbeld, aad tb. palille aenerall. Ibai
be ba. na baud a Mae aaaortateat .1 Furall.re,
aarb a. W.iaat, Obaatnat aad Painted Cbaanei
aitaat ParlM Huttee, Kaelintug and K.taamna
Ch.lt., Lad...' and (lean Km; C'balra, Ibe Pr
fnrated lllalawarf Jelcr Caalra, Uaa. Iteata and
Wind Vbalra.VI.tbM Hare, Hup aad Kitaa
ioa '.adder., Hat ftaaka, Bwabbiaf Braebea, A.
.'iOVLDINa AMD PICTCRI FRANKS.
obla tllaaaea, Ckreaii A a., wbieb wouJd
aliaW. r Bolulae araaeata
dMMt JOUN TROUTMAN.
- .. --r -i-ir . .. j -'m mmm, " "j !l7'
-- " 1 " " T - t-'"-'
'2,557.
CREDIT OF THE GOVERNMENT.
tspiaxioxz ox
HON. D. W. V00RHE1.S,
OF INDIANA,
in Tim
United States So ; a to,
JANUAHV 15, 18.8.
Tlio rumiliititin aiibinillml by Mr.
Vtuirliei'H on tlio litlli ot Dwvnibur,
1877, h ri'uit.
Mr. Vt.rlii:e nuitl :
Jlr. I'rvhidfiit : On tlio I3th of Ilo-
fi-ii.ln-r I hud the litiunr to intrniliicu
in thia body thu ttillii w inje rt'wiliiiion :
nfreorW, Tliat It la the hicheat ImP'lrUnee
i"ai tua mianoial era.llt or tl. uoverninenl bi
uiali.uined, and. ill order lu d . a... Iba M.rern
m.nt iiaell, ia ail ita departa,.'nte, ah.rultl Inira 'd
taitn ae.pail It. eutilrai'ta and ebli.tioita ea
teied Into .ilk it. own sitlirna.
And iii puipuunvd of h mitktj tht'n
ivi'ii I iitw cull it up lor thu imrpow
ni iimuiiiwiiijr tliu Hiiiiji'tl In wtiieli It
IVIUHA.
Thu uif i I u lion of tlio qiicalion of
nnuncv tint, ciiiitiiinetl withmii u mo-
iiitiit'a intei ini-eiiiii iriim lliu cum
int'iict'iiieht id our iirtiei'til atHtcin un
lil line Imur. Nor in it likuly to ct-ui'
lurniuny jtuin tu cuinu. In liiot it
will never ci anu until thu iui l uro
ruli-lii'il thut mil' vul debt U in prti
i t en ol ex 1 1 m l inn III on .1 in ii.l. n ot
jimlico In tux at iiif lubirr, or until,
on nut oilnr luii.il, Ihtiy uru hiiljuya
t.'ii into hilcnt auliiiii.iii.)ii und tltv tt,iv-t-i'iiiiii
nl iiH.-lr bi't'oiui'H clmiijii'ii in
eiini Mint loriii into u iimiieyud urn.-Iia-iuty.
It limy ho thut Huh lulter
till t'l l.uli v.. in to ovurinku na. Tliure ure
duik und ili litiliil iiuii'iia in our rucunl
hiory imlii uiiiii; aiicli u iniii lunion.
unil Un it; in n iiiimt'iotia und w i rail
lunH III nur llllilnl win, ix llrt'o, nn Alo-
uniK-r llumilttm dHlurcd. thut the
lliilii.li i;(iTcriiiiii'iit, on this uri well tin
mi other iointn, ia llm licnl ever di via
d by the Hirilnin of iniin. Tliimu imi
icitumiiif; thia oiinkii lmv tliimlur
tiiuiiiilitil in Iho Hhulii'ial It'llnlii.n
I the United Sluli a and thu limu bua
now uriieud when their viclorim niiint
bu revemetl or noon thia ovumnii'iit
will ceueu to bu It.-iul,icun und the
in'i.piu no loiii;er ou li'eu.
'l lm policy ol thia vietorioiia intereat
in thin eoiintry, ua in ull oilier., bun
Oi imi viL'iluiit liiroiiportiiiniiia ol LTctd
unu l'uiii, umi ujjunwue in uppro-
iriuiinix iiiem it, n own UHeaiilUL'e
III Ita leliucloua purelllt n' thia Inilll V
il bua during thu luH aixleun jeiim
pit-eeeii un eiili'l UHU III.JUM Ili'inUIIUM
Upon litu Aiiiel'kuli people III u Vurluit
oi aim pea. jii.i now a unaiiinua
inuiiiier KWuiirii with 1 arro 'uncu.
hunlily, difluiil, and rilled with iiiMi.
eiii-u iiiwuni uii opiHiiieiii. i notie
bo uru nnicil on ihuantu nf eruet
it'K wi ultli ull.'i t a hili diKiluiu lor
nncli un clmiixu lo rt niemlKir thai labor
line riyhlH which line trofuriinieiit in
l ulled upon to pmtecl. There meiiin
lo bu un iiiiiuenao aueer on lliu lucu ol'
mirdid, inuiiiivu cupilul, an il' iia pre-
lenaiona were Dcyoinl tliu criliciHin ol
onliiiury nn.rtul Ita U'lvin ulin out
eidu ol CiiiiL'tUM do not cnmk'ncciid, a
u m ni l'ul tiling, tn niiiineiii Ul ull.
li.niiiiciutn.il in now their pnnciiml
weupou. There in no cpitlit t however
buee, no iiininuulioii liouever minimum
I but in not of daily au uiruiiint ull who
dnru to dirlor in npiuion with thum. A
curioiin ape. tui lu la presented on thin
niii.jict by u lure; inn tion ol the eut
fin pn nn. Iii re und tberu aided by a
luw-pnpcr in tnu ncui, 'i n. ir col
ninne leek II. .in day to du) Willi clam,
ori.ttn ubimu ol all who Venture to bu-
In v a un I do I Imi, lo u (jivut exluiit
nur wholu lliiuiieiul nynlem la uu or
gunned t-riniu uuinel tbu lule.rin',
nn put ilitf men und woun'ii of thu
Unileil .Miilee. Tlmee ho think aa I
do thill u ureal nnik of linuiiciul ru
tonu la ilimmtded in order to kvuiiu
ibe people lioin nluvery in lin t, if inn
in iiume, uru denounced in thu auine
epiril, und in the exin t lutitriiafru with
u men even oni cniniiiul ul'iiae hi e..v
uriiiiient, Ihrniiulniiit ull bintury, bun
auuiht to puralyxe the work ol rulor
iiiulinii und bent buck thu tidu of hit-
mini proriaa. In n er in thu an
nul, of Ihu human rm iinbnly uvuricu
mm limit He nlroi'L'iioiilH and privileif.
cd clunriea buvu iiilrulichtsl theinnulvea;
whuierer HiiiH reiition hu. held lliu bu-
nun mind in bninluifu for tbu luiicnt
ol epiiiliiul ly ranlri ; u borevvr man in
un any hua had unluuhil niiiMi.ry
over Ilia lellowilinll UNO JUthcl'id in
wliut beliiitucd lo u m ther, thero I lie
euinuciy w li it b wa now bear banal-
uta lieen ruined uliiiii-I unv iniriieion
or tlintuibuiii u of eetublinhed and veii-
eruhle iiiitiiny. Nur ilooa lliu puiull.d
mop here. Tim iireul plea of the proa
em hour for the contiiiinitinii of wrtmit
and li jnelice in thut Kinid lailh n Qiiilca
il. i iiiaw no, timlinir a inoitnliiiun
evil imbedded in I he uwa of their
oiini iy, wieh to eiitilicatu it by neueu-
ltd Iciiinlulioii ure ul oncu and with I he
ii i nn .el lury ueeuiillcd na Tiobitora ol
Iho public tuith, uiiciuicH of ihu na
tional bimor, uiui wotne il iioenihlu llian
timimon awiudleiK. It inulti-rn no
Imw deep und Inn nil. i; thu outruu
iiuiy uu or imw irutitliilenily it may
have crept ililo our el at in en, if.M.d
ti.il 1 1 , in thu twtimutioii of tlmau who
prolll by iho oulrae, nquirea it lore
muin llieru Inruver, lhoiiih it ahnubl
uid tiny by duy ihu hueily work ol
ruin inul now iieriuilea ihu hind
Winn lliu piu-uutry of Kruiice, in
17h!l, worn out with lliu extortion nl
llvu centime., uronu uuainnt kinir,
prieete, und m Idea, they hitu all tt.bl
that tlii'T were breHkitii Ihu luilh id
the nulion which bud been plodud a
tlionnuitd 1 1 nice f..r I heir nilenl nuiuuia-
nion to any wron;, in pomon or prop-
rly, lion ever liornhlo or iiidtMonba-
ble. W hi never ibu alumna; im iioIu ot
li vluml, in Ilia dreary t oiiluriu. nl the
puat, buvu irrown urn any in tbuir bond-
K and ntniKillud nt'aiunl their lellnra,
tiny bavti been t reely rvmindcd that
ihu irond luith ul hnulund ia nolemiily
iledvd to uiuinluiii axinliui; Una. and
perpetual abiincn.
nir, thia pled, so loud now in our
earn, hua been, invoked in bidtull ol
cry wirkadnvn thai over fred tbu
world. The u-iirp. r iiivnkca it to pro.
teel the throne be hua alolen, ua boon
an he in wmleil. Thu tv rant invoke
it tn nhellor hia preropitivu, and Ida
nobilily in turn invoku it in order lo
live in caw und aplemlnr off tbu lalair
of oihera. 1 1 la my pnrHMHi on tbla
iKtanion, b'iM'uvr, lo nlmw what Ibu
obhfriilioiia of ienl lailh reqinruid Ul
on the ureal qiiontion of nur finnnoea,
ami to arruirn thona who bava ayn-
letti'iiicully hruken it wbunuvur their
iitlereal pmnipled Ibein tn do no. It
ia my purpoeo uUi in ahow tbat whlln
it la ol the Ui.uikI linHNTUinc to main
lain nur fliiauriul credit, it can only b
donu by the irveniment keeping alt
ill iiontracta and t.lilialiona with ile
own citiiem. Thia inauei haa bavn pre.
avincd ol laleinaniaiineraopiirniati.nl
and ofTViiHivo, ca5ciallj lu wenlern
men and watrn inl.roauv ihai k
ahall imtw b met aa far aa my hgmbk)
capacity ouabloa roe to noel It.
CLEARFIELD,
Hir, I appeal In I bin bialory of our
filiancial ioftinlatioii. I ctillcii,(0 iin
aolunin rucorda lor jnuniuiit ttulnnl
tbu actual rupudiutora id nutioiial lull It
and honor. Ita puoa contuin lliu lucu.
thu HniiiulublulttflrMrnin wnicii iho lu
I uro liieiormn will jiidf lhi- quuaiion.
I.ot ua camliilly luview tliuin. I In
uct ol Eubruuiy 25. ISO! ia the botriii
niiif of our bonded debt. Thu precioun
molula went lotind lo ho uiieqnul t
lliu einerielii y of war. 8hiciu pav
muiila were abandoned aa anon aa Ibu
hour of Iriul cuine, and gold and nilver
cowuren in thu rear, while the lentil
tender dollur wont lo the front with
thu fluk'ltnd staid tberu. 1 wan amang
tlionu who uoulileu our rif(Ul to lanuo
it, but uxieritiico baa abown it thu
beat money, all thliif(a connidured, thut
uvur circulated on Amuriciin anil. Hy
tine act ol roliriinry. ItihZ. and bv
nimllur Ictrinlatmn At uiiUMcquunt perl
oils, evury bond inauod by the govurn.
muni Which did no'., on ila luou aliiut
lute lor pnymont in coin wua n.udo
payuldu by thu exiiruna worda of luw
in luul-lentlor nolua. 11 wua plain!
written in Ibu ntulotu thut llieee notea.
now known aa irreunliacke, "ehull bi
ruceivubloiit puy nieiitot all luxun, inter
naldiiliua, uxciau.debia. ami diiinuiidn ot
every k ind due lo ihu Uu i ted Si u tea, ex -cept
dm ice on import.; und ill ullcluima
and ilcmuima uuin.l tlio United
Slulua of every kind whatever, except
for intureat iinn bmitla uml note.,
which ahull bu puid Hi Coin: uml nlmd
alao lie luwlul moiiuv and a leeiil ten
der in payment of ail debla, pnldiu and
privulu, witblli the l ulled rjlulen. ex-
eupl duiiea on imporla and lliloreel aa
ulttrenaitl. , ,
This niinplo, explicit, and at tb
.nine time coiupndieii.ivo i natinieiit
i(iiuruiileei to thu Aiuuricuii peonlu
thu ritfhi to puy tbroe-lniinhn of their
uulioiiul Uelit in iiatmnul currency. Ii
wua Ihu law ol the contract when all
tbu 5.20 bunds, aiiiotiulinji to uvur tiff
teen huiidrud milliiMia, wuru purehiined
I mm tbu Koveriinieiit by ibe hond
hnhlurs, and puid for in this currenev
ut pur, when It wua quoted ul Imui 40
lo ou per cent, below par in dint.
Every one undemtimd thu luw tu be
ua I have eluted il al thu time of ita
punaue. In luct tbu (reul ntnij;ule
then wua whether even the interest
on the bonda 1 have men tinned .bmild
bu paid in coin. The act of February
25, 18112, 11 nil panned the House with
out any provision at all lor I ho coin
pnymttul ofiiitun-st That feature of
the luw wua attached burn in thu .Sen
ate un an amendment, and when the
act, thus amended, whs n turned to
thu House a violent conflict ut once
unaw. An examination of thu Coil
Hivneinnul trluhe lor the second soseinn
of tbu Thirty -seventh Cmiifrees, ut
puKex Sit and 90(1, will show Hint 1ml h
Mr. Kpatildii.i(, of Now York, and Mr.
Sii Vciib, of I'uniist Ivmiiu, thu leading
iiieinlHira of tbu I'liinmiltce of Wats
uml Means, uml one ils cbuiriuuii, mu
ted in dciiminciiiu; the Senulu amend
nielli in tbu billerunl ami severest
terms. They voiilonded in slern and
doluriiiiued Iuiil'iiui;o thut even thu
payment of interenl In coin Was un
alioiisand unjust discrimination in lit
vor nl the bondholder and against the
soldier, the sailor, and the viliaen, who
were culiinlled to receive thu lentil
lender currency, (rronlly duprueiuted
oy linn very uiaci'iiuiiiulion.
No one by a siiil'Iu w ord in I but en
tiru debate uiado thu sligliteet pielciisu
or intimalion lliul the principal of tbu
bonds was payablu in coin. During
thu lull leim of seven uvenlbil yuum
mat lollowea tliure ia not a plullorin
of either Hihtical party in any Statu
in tliu Union which uiaKua snob an us-
surimn. Nochiim for sin h a tunnii uc-
tion ol the law in behalf of thu bund
bolder ever lull I'min tbu liist ol a lead
in,; moniitur ol llio party in power
uurnitf mo eumo leniu ol Hum lu
either brunch of aJoiiurerM. or ant
whureclsv as tur as thu public is ud-
vined. Ou thu culinary in luatt)
Sluice, and nolubiy lit Ohio, tliu home
ol the President and bin Hecretury ol
thu Trcueiir) , thu dmiiinniil jiariy in
Ua hlulo t'oliventloli in 18(18 . xoiveeed
iia duliberalu ''convictinii I lint accord
lug lo thu laws under which the 5 2 I
bonds were issued raid bniitls should
be paid in tbu currency of Hie coiinuy
which may bu legal lenders when the
gmcriiincnt shad iyv- prepared lo re
deem aiich bonds." ' On this doctrine
the prenenl C'biuf Mugieli'ulu and bis
Sicntnry look ilnir niaiid unit bine
yeurauc.0 uml told the punpla tlml thu
uiH tnne wus true;- Am nnly so, Inn
Secretary IShei'iuun, who now in hie
recent report wurns us uKuliml h lenli-
ulioii, llieii iravu in a lotlur duletl
March 20, Itt0'8, and widely iiul.l.eheil,
his idea of whin coiisiiiiiiud a rcpudi-
utur. Mpeakllig on this subject, ho
siiyn: .
VaiTan Statk. kaari CniNbks.
Wariilngion, Marub iO. ISII
DKAaSia: t clad t. inei-iv. lour leuer'
Mr uer.vi.aJ lBt.-raaia are lb anaie a. tour.. Lai.
Ilka fob. 1 do ool ial...d t. b. Il.i1uanel lie
b.ai ' Me .aelraetivB inf the ia. I. ibe ra.ull
M namal eaaaiina-l ... aa-l I reel nulla rure as
In. partial rwu.l w..eld ooBlria It If tbee.ae ehuuld
b. irknt beiar. w wurt. 1 aea-l T..a inf view., aa
lull, rl.td li. . aboroh. Vour idea tbat we vr...
pear t.. repudiate or i iolale a ppianae when we
.liter t. rede in tbe ',ria.-iiatM la l-gal leod-ri in
err-Beaua. I tbink the letn-bu'der Ttol.te b a
i.rouilae when be rrta-ea la lahe the .am. kind ol
-.nee be paid for the bond.. Il Ibe ear. la to
he Iret.e be Ih. law I an right, if It I, tu ba lt.
el he tie, rko'. edverOarmenta, I bib wrong
I Kara r.puaitl a er anTihiaa tlhe i, bat
.i.eht net t. h. deterred m.ai b.l rl.b. fn.
tear 41 nndreereeel epl-heta If under the I.w
aa il ra.-de tn. bolder. ..f Iv.-twentiea enn nnl.
be paid IB anid. tbe Iwndhol'l. r eea (Irmei.d omv
ihr bind .1 raeaey he paid,-lhaa be ia a repa lie
lur and eamtrloBer t'i demand raooei ni r- lelu
able (haa be gata. Tf.lv l.iura.
Ji.a.e BHana.N.
When it la remembenl that tbe
lioiidltohlcr never puid a dollur in coin
lor a bond of any dvacripliun, but pur
chased lb. in all with governuieiil uur
rency, which the government Itm-ll
hud depreciaii.l by refusing to lake it
lor eueioinn duos and lolir.ai, tbe lull
meaning ol this Idler becoinus very
plain and verj forcible. It ia Dot the
tleprHig ol imiiiilse or mexievrieiica.
Ils author was than chairman of the
Kinanc CominitlM) of thia iMslr. and
he wrote, as be says, allnr "careful ex
umlnalion." lly thu liuht which be
bare Ihniwa Ulnnt the auhjacl we muv
see the exact Is gitining ol rcpudialioh
and heboid the fuilivu and rtlvenous
inovemeiila ot the actual repudiatora
as I bey horry up anil down the pro
cincls of legislation during the lust
nine yearn of our history. By its llghl,!
Kki, we ticbolil the lirvseitl nucrulan
id the Treasury, judged by his own
wonts, an the duel ol repudiutors, fnre
imwl among Iho vltdulura of contracts.
and a louder among those who have
In nit instance kept the gornl faith of
thu government with Ila own people a
moment alter they tound that bud
tuith would bring thum richer guina.
In leas tha ten months alter Una let-
tur ai writlem, ami ailor the eumirl,i-
tinnot the Ohiir- platform, linn. John
Sherman, then a Senator, advocated
and pmourvd tha paanagu of the act of
alarm, iwiw, !or tha tiaymenl l all
Ibe bonds in coin which be had declar
ed payable in currency, thereby v.lab
bailing an (epeo repudiation of the sol
ran Rod biudlng oostracl and f.sten-
PRINCIPLES, NOT MEN.
PA., WEDNESDAY, FEBRUARY b I&7S.
iog an extortion of mil loss than (500 -
000,000 on thu niugguriiiir iiiduslrh
ol Ihu country aa the stwculuiive pmllis
ol the operulion. in lliu whole tlnum
uiul history of llm civilized world no
purullel can bu found to this aiiibicioun
deed ol broken luiltl, debburulu treuch
ore to the people, and iiulionul dinlioli
ost.V. Il slamls out by iisell, ttiwering
high above all omnuion fruuda and
duuiliiig thum in oiii nrin.ni with lis
nwii vuel pmpnrtions. li will beur the
nanus ol th.wu who enacted it to die.
lunt generations amiil.t the groans.
tlio curses, a.nl toe luiiictiuiiious of
those who toil on the land and on the
sea; and inoro dot-ply engraven than
uny niher numo will he lorovcr found
tbut of Ibe Seerciary of the Trcuaury
tue uuiiior ol wnat ho liimsolt suul
constituted thu twofold ff hue of repu
dialiou and ext..rL.u. Uu I stutu Hie
cunu lis, slmngly 1 D.bjs uny Senator
iliink thut I uin not jiintdied in I he
lungtiugii 1 unu or in thu conclusion 1
slulu? Il so, I pray In in to recall ibu
uuenincus of my lumeutud und dintin-
iiiihod liredeeo-sor in this body.
When this monstrous act of repudia
tion was on its pa'agu here in Murch.
IKull, henutor Morion pointed out
ill the plainest und must uxplicil
manner lour distinct ucts of Congrons
under Iii. h the people bud ucqnired
a vusted righl lo pay thu 5.20 bonds
111 legttl tender miles, und which were
lo bu hmkcii und sel neidu by the
meaeiiruthcn uiidurdiscuenion. Aitioiiir
other things bu said :
And bow I i.nip"Bn. tbe que.tl.ia. It iaaiiber
ibiend.d hy ibi. bill 1.. ta.ke a new .'.(r.el or I
1. not 11 it 1. tO'en 1. 1 mta fc a neeeu'it'Stt. 1
rise.t B4in-I ir. Ww 8h..ul I do l.-Hl hiJii.II -e..
he Umenr...nt and the people ef II.. Imuel
SieUi. alter we bnee eald t-i. .eindaoa an ae.-re..
for not utnre th.B m'v eeni. ... Hie dollar nnw 1..
tsake a tew e..t lr..al fiir the bei .HI ot tbe t-.oluVre.
Again be nn s :
I' .i.e. t. ih'ira lawa a enntrucli .B ha' I do
not le-ieva In a.nl that I have ah..wn la eotttre
dieted he at l-aet four aeta inT U.airee
And ugnni Heiiutor Morion excluim-
ed, wilh Unit aiwcrul statement which
always so greully churucieiixed linn :
Sir, It la ...der.t....d, 1 beliei., that tta.-p.eaae
f a ban .r itaie kind ...old ha. e Ibe aHeel In an
rnpe, where our llnineial qu.tlun: era n-.t Writ
'xirj. 10 iner. are 1 he d- ninn-l. end Ih .( will
enah1. the sreal .iperaior. lu eil lb" noi.da ibe.
hav. ua band .1 a p.nlit. Il ia I., Ih. Biu . of
11r.1avr.uper.11ur. It 1. a null w.ivvu..t
teti.le.1 10 t.ut the price nl tn..t. I. lor the intr.e.t
1.1 p.rilra deenn. lb Ibi ra I nl. steal ltilere.1 I.
thundering at tha dieire ur (onart.a, and be. lor
many ui -uiha and dy ..ery tue.iia he-B alti-inpt
ior; I dure u. tnli. ieai.lai a L.r ibe puri.o. .i
ni.kio. ut..i.ey lor lite .reel oper.t.ira. Thai I.
wh.l It laeeua ami nomiBg e'aa.
Theso are wonlsnl inieiie and over-
whelmiiitf loree. Whom in the whole
range ol debulo can be found a motu
revnltiug pieluru of bud luith ili-pil'd
hy buee cupidity ihuu in h.ro potiruy ,
e.l by thu gnat.-"t puny leader nor-
apa ever Known 111 thu Auiein un Cnn-
gn-snf llu hua puseedawuy, l.isvnice
la nllelil, uml llu loetn alter llles tllllll
lever, hill tbisai cueulion burled auan al
eriminul ' wruiiir-doitiu atitvives. and
ill cniiiinuii to sin vive us long as it
romuiiis lo Ihi deleiniincd who buvu
repudiutud Ihu aucred oMigutions und
ibe phghled liulli id lliu A met n an Re
public. In lur dialinil tunes genera
linns now unborn wltilu examining tbu
snurcus ul thu burdens thut huvu de
scended to them will read ihu chnrgu
mudu ill this presence by tbu lulu .Sen
ator from Imiiuua, thul a coiiibiiiulinii
ol alis-k-jiibhoni, as disiiimu ol con
scieiicu aa pirates and Hiepired alone
by greed lur mniicv, sticts-nnfully tbuii
doretl ul thceo dm. r and liuully drove
Ibis Cinveriimctil into thu musl stupen
dous uct ol bud Ittitli untl legubzed rob
bery uvcr ptiiclicvil upon uny people
siueu thu tluM 11 ul history, Fivu hun
dred 111 il 1 1. .tire Itiudu by Ihu greul opera
tors und Gvu bundled millions lol tn
tlio plowman und tbu nicchuhic. who
havu il ull to pay I
Ami yet the authors, und inxligutnrs,
tbu u lie I torn ol this crime, and lliu par
licipulors 111 ils proceeds, li I lliu air
with ratling on iho e-iljici of icpu.lia
lion, uml point iheir lingers, sluined
wnh plunder, ul In. nest men, us n pu
dittliirs, beeuiisu I hey In luvo thul a
cninrael lor Ihu lH-ticlil of the people
slioul I Imi held us sacred us one lor th
heiii-lit ol iho bumlhol lor. Sir. liulteur
uticu uu thin Miiui bus ceuM-d tu bu a
virluo Tlio-o who buvu ul ull linns
labored lo keep ihu till 1 1 1 of tliu tmV
erinneiil. with its ciliaei.s. uml list red
liorsu Hie, cuniml suhiuii. any Inngi r
lo 11 null added 10 ilij nv, 10 aholeeale
C llu lull V udd d lo nuli Uiul ph.D ler. In
some cuii nl riisi Ihu lialni pruvuils ol
litiilding a rairu, a pile ul etmna lo
muik lliu spot where nomu tragic vvcnl
has hupH-nt-il. So lot Aiiierieun lax
pBVcrn, whenever thu uct of .Murch,
lSli'.l, is eiied, cm h cn-1 u slniiu upon
il, tn murk tbu pluttu in Anii-ricim bis
lurv W'iieru repiiiliuti.ui huijuii, and
wboiii thu rights uf thu pcnplu were
liiereilesel and Ircuchcrously eluugh-tuu-d.
lie next step in the syslemulic vio-
billun ul ils nbligtillulis In ils uwn cill
Kelts by Iho AlllerU HII (.uVi-l'lllllelit Wan
lukeu in Ihu cnuciiiieiit uf lliu luw ul
July II. IK70 known u. ihu act Iin-
reliimliut lliu miiiuiiiil debt. The mn
live which pronipled tins legislnlimi
hus, never yet been fully exismed. It
bus ulwute beun In Id up 111 lliu 1111111
cent guise ul uu attempt tu rudui-u Hie
r.nool Iniereei. Itaa n.lai L,ln.ovur.
ibu i.fl-priiig nl uu upproboi.niun ri
iiiaiitiug 111 certain minus uven aller
tht) uclul March, 18(i9. lliul Ibu wmk
ul repmliaiiug 1 Iin ymttruel fur llm
pa.tnntht uf the 5.20 lunula llligbl Itul
liu iiiiiu tstinil.-iu und linal. These
tHiude weru unlslauding, und itltbuiigh
lliu law "I their put me ul hud just been
rupcuh il, yul Ibi ir huldei's Icured tlml
the people llligbl tusuier ur later 111 turn
repeal thu liiilhhns, uclof March. I8li9.
and deuluru iik'ain lor tbu put meiit ut
I hone originul bunds accnrding to the
origlnul uuiitrucl
Thcrelnro I his uct of July II. 1870,
called thu refunding act, wua brought
111 a-, niippleinonlcd lo that of Mutch,
18GII, umi in aid of it I'ulsu usnertiuii
Ibnt nur wliulu bunded dchl wus puy
ablu in din. lly a sort of moral I'of
gory on Ibe American n'lipln the ru
fuiidiitg act pruvitba lor Ihu i-eiio ot
new bonds lo thu amoiinl of $1 Odd,
OlJOO O, wilh 1111 ugiucincul lor coin
my tiiitiL written oil their lucu; und
then further prnvitles Hint these new
o 11 bonds .hull bu siibstiiutod lur thu
originul 5 20 bunds, nno in exchange
for III. niher, tlollar lor dollur. Ava
rice in tbu urdiiiury u Hairs uf lite liu
oHn tempted tbu bolder of a deed, a
will, a bond, or oilier ohliguhon lur
money or pnitwriy K obtniii a lulee
coiietruclion, if Mteihlo, or even tu
change tbu U nn. of tbu inairumeiit 111
oritur In.'iihaiicu ils vultie. Here both
these objects buvu been obiitineil b) Ihu
muitcy power; Hrnla fulee tsiitsi ruction
ol thu cuLI rnet, mid next a iliiti'i
cbuiigu of ita must Vital lei me. Il is
true that 1 rrdiictlnii of the rate of in
teres, on the new Coin la.nds in provid
ml lur in the act of July 14 1 870; wti
biilidrvd millions id those lml.de to beur
5 sr eelil , llireu bundled millions lo
hear 4 iter cent., ami a thousand mil
lions lu bear 4 per t out. This reduti
Hull in Ibu rata ul interest has, at first,
the appearance of a mncrMainu to the
poOiW, but a tuomunt'acalaulatioa will
REPUBLICAN.
show the amount tluia saved utterly
.-in:.... 1- :. :
irimi.n- lit eiilliparisult Willi me Ollur.
moiis loss tbuv miner bv the wlml.
Inilieactinn. Nor ia it lo bu supposed
thul tbe holders of tbu 5 2d 6 pur cent.
ouiius wniiiu aiirrumier tlieiu voliinlu
rily in exebunue f.r bonds ol luss rate
uf interval, unions they knew they wure
gelling bo. ids of higher value and were
lo roup aubstuntial ad va lit unci by the
opurution. To draw a ditTereliloolielu-
nlon would bu to reverse tbe well as
certained luwsot human nature. The
archives of history muv be ransacked
in vuiu lo And a single instunce whore
a moneyed investment rulmqnished
without compulsion a superior lur an
inferior security. Such a thing was
never Known ami never will bu.
W hen, however, Ihiseluhora te scheme
lor the deni ruction of thu riirhta of the
iwnplu in regard to Ibe payment of the
0 11 minus was supMwe. tu hu Dnish
ud; when tbu gutuways of justice, of
law, and of public tnoraillv had all beun
closed, and doublu-hurrcd, and bulled
uguiiist thu Inx payers by tho repudi
uiiiig acts oi Murch, 180!). and ot July,
iniu, inn ino practice ul bad fuith on
the pert nl the Government toward its
own cilixena stop even then 7 A flnul
iiy uppeureil to huve been attuinod.
I'rin luinaiion wua made in evury quar
ter thut a permanent sultlemeiil hail
been reached nl thu manner in which
every dollar of our naliuiiul debt abould
be paid. We wore constantly remind
ud iMin that day forward that 110 law
ul'iding, boimrablu citizen would ever
aifuin seek 10 reopen or agitatu ll.e
qucslinii. The bondholders were for
ibe time being content, hut they did
ml remain an a moment lunger than a
new nppiirl unity prusuuted itself liir
mini her encmuchiiienl upon the heuvi
ly taxed indu-triea uf llm coiiiitry. By
bnth Ibe lu want Murch, 1869.und July,
1870, framed In their interest ami un
der I heir dictation, it in so plainly writ
ten thai tho Immln then oiitatunding
und ttiterwunl tu be issued were puyu
blu in coin nnl in gold ulnne, nor in
siirer ulnne, hut in coin that it ra im
pnsniblu tu conntrucl an argument
aguiimt the proposition.
Indeed, it ia ulmosl equally didh ult
lo innko an iirgiinii-iil in its favor, fur
a truth thut is self evident does nut ad
mit thu iintitinry methods uf reunnn in
its supHirt. In Ihe first section of thu
act uf July 14, 1870. tho bonds therein
uuihnrized uru inadu '-redeemable in
coin uf the prevent standard value."
Wbut is there beru fur construction ?
Wlml word hero taken from tbe law
can the keenest cusiii-t construe into
even a doiibitul muuningf We all
know w but the term coin means in
connection with the usu uf the precious
meiuis in the truou ami commerce ot
tbu world. Even, however, il we did
not, ami we desired 1.1 seek art ill plain
er and moro explicit guaranteu, we
have only lo turn lo the ai t nl March
181)9. It declare its object in the ltd
lowing language :
That is order 10 rMinv. .ny d.aht aa I. the
purti-.ae .tf th. (lov.rnf.fnt to dieehanr. all ita
Ju.l ut.lie .itne In the pubhe ereditxre end 1.. Ml
lie .anie.nK aneatlnna .na 1nr.rpe.iannBl n1
th. lawa. ly elinH" nf .bleb aa--b nbh.atlnna bay.
heeB .Mrae.ed. II le bereh, peovid. d end declar
ed ib. I th. fa. ih uf tbe United 8-elee la .olemnly
Hedged lo the p.iraeBI. tn re.tn or Ita nf.iralent.
of all ih. nbhiaUotm of th. t.ited RiMa net bear
ing inierrei, buawa aa L'oilad Hiatae aoiee. and
..I all Ibe tntereel-beariflg uhligatione .f th. t'ai
tid Ri.'w, Bie.pt la ea-e. wber. tb. luw sutborii
ing the i.rue al IB, eueh oblig.lioa bB.aiprea.ly
.r.i l.l.d tbat the .sine he paid tn l.wlul money
or ..ther fturreury Iban gold and aile.r.
Fulsu und peifldinnn an this Inw is
known In bo. yet il bus at least one
merit. It Is niiaolutelv char und un
umbigiiitus. If human iangiiBgn can
bu niude 10 convey an iincqiiivitcal
tnennlitg, then this law pledged the
luith ul the (Inveriiment lo the pnnple,
and tn thu world, lur the payment ol
Hie naiiotiul debt In "gold anil silver"
It is a rulo of court, however, in find
ing tin. true meaning of a law under
connldeiation. In resort. If necessary, to
tho opitiinns uf th'iso by whom it wna
enacted. It n o do so in the prenenl
inslaitcu wu are nn ply rewarded by
rich discnverles. Wilii'um Pill Fosnen
flen, then a Senalnr from Malilir, and
bo ilno si'i'Ved a Sis relury of tlio
Treasury, need oa this floor the follow,
ing language:' ' . .
Pi, I meibt what I a.M. and the Oftngnw. nf
the li.,lte.l 8 at -a aa so what a eatd. that il wBld
par ft. inatif dn'lira. What w.a a rit.ll.r7 A
l"llir wa, dellned by ,'aia e., It wuag'ild or all
eer enin.
niultntiir M.irtilll, Wllt'li pleaililltretere
tor the puyment nl tho bonds nceirrding
In thu t.rinciiiril cnntrucl made thu
fidlnwing slulemelit :
Whea yea eeiurB In apeei. payra-bta y-.u hav.
n..lhi. g In p.y My of your bond, with hut a .Id
.r it. fnfiitv.lnni an I therefor tti.ei.i.itii.n h- r.
tB laf.r nf reinda paiahl.exprea.ly In surreoey
1. uilerly wor liler. hre.u.e we .hall here Bulb
ing then but g..id and .liter with whleb 10 .By
here hoa l.. -
Hut ibe uvideneo on this point would
not bo complelu if I did lint call S.-1111-lur
Sbermaii, imw Secretary ol tho
Treasury, to relnto not only all thu
present enemies nf silver u a Coin of
legul lender, but especially lo ruliilti
und contoiiiid, us usttul, bin own subse
quent views. In bis recent report on
Ihu elate of the fiituitcen, row on our
IHhIea, bu says :
Il the m.rket ealu. nf th. eltrer la tb. saw nln
.a I... Ihen Ibe gi.ld dnll.r a f.ir.'e.l pairaaot ia
ihea"Waia la a repu liatloa of a p.rt of thi.
il.id. . .
Now it is repiidimion to pay thena
tionul debt in an thing but gohl. Wlnit
wss his posiliuu when tbe uelol Man-h,
IHb'9, was here on its ltussuge? Al
that time he exclaimed :
What l.llie I rat Mild, nf Ihla hill F II 11
.imply, aile.na plUo ..f th. Iliit.l state.,
the' all Ih. nlilig ttlena ofttie V tlt.d Sral.l B.t l
and le.n I., .ti-.li tn- pa .1 it f t! I aa I aiirer redo
keep w . tbt'iBeh. . th. law ea-.eea.lypr.-fld.a
that tb.j all II ee a i la awf I at .n.7.
And ogain, ill speaking nl tlio re.
niitiiplinn of specie puymeula, husnyn:
. The honor of the .oanlry, ih. gnnj f.ilb .f tbn
Billion, the laiereata of ibe lhur.r, Ih. neb BBd
l...or, all ela.ae., tlew.nd that wa .hanld reauis
.peel, p.taienle aa early .. p.a.lhl.and plaoe all
ihr ohliga.i.,B. oi the pe.iple ol tbe (inlted State.
up'ia tu. wing .ana ot gie and tee. tis.
Sir, this lliome booomoa hinniliating
to every honent' Ainoricau mind. Il
fills with sliaiuo every honent, patriot
to heart. Thu naked luct cuniiuiils us
Ul every step thut no pledge, however
high, solemn, or binding in law and
morals, has been nlrotig enough 10 com
pel the authors of our duaitcial legisla
tion to obey 11. No sense ot lialionul
honor or gtMsl tuith has restrained for
u siuglu moment the unbridled ava
rue uf idlu Inunesl bearing capital
w believer il has been tunipled, like some
hungry marauding uinuiul, to break
over me harriera erected belween it
and new fields of spoilage that lie be
yond. Tbu silver dollar cuino lo Us
with 'he birth of our (veritineiit. It
was dt Vised as a unilnf Value by flius,
Jclforauii and adopted bv Uongretta in
1 bu duya of Wunhihgtun, lluiiiliioit, and
Motrin. It Blood as honored as gold
through every nlorin thut bent upon
tins (lovurnnii tit. It Is assm-iuted with
all our development, onr nlreliglb, our
growth, uml our glory.- With it as a
currency, mnru than any other, the
pit kul-liitoa of civilization have pushed
iVvstwurd. , The pinlieerili theshaihtW
uf the great furunts or un the wide prai
ries toiled lo lay it by, one by'one, un.
til tho coveted jum'ol'on. hundred lay
before bim. TbtiaUghtenrngthejrl ,
ri"D
NEW
of Ilia saddle, ho rode with speed to the
distant lund omce, where the Uovuru
ment took hia one hundred nilver rinl
lam for eighty acres nf lund, which
thenceforward became that must bless
ed spot of earth, k home where trees
woru planted, whore children wure
born and grow to be men and women,
and thun in turn went forth into the
K-roul world. sUII to the weal, there to
live t-vur again in labor and privation
me uvea 01 the lather and mother led
behind.
The ailver dollur la peculiarly the
lubonng man dollar, aa lur as be may
dusiro specie. VY hen sjioeie payments
wure authorized butoru tho war it wus
tbu favorite currency with the people.
und it will bo so again whenever a
gunerul circulation ol coin in obtained,
if that ahull ever, happen. Through
out all the financial panic thut buvu
assailed ibis county no man has been
bold enough to raise his bund 10 strike
it down ; no man boa ever dared to
whisper of a cnniemplutod assuult npon
it ; anil when the hour of ils danger
and dieiruciinn drew niirh, when the
12th duy uf February, 1873, approach
ed, thu duy of doom lo thu American
dollur, the dollar ot our fathers, how
silent wan thu work of the enemy!
Not anound, not a word, 110 note of warn
ing lo the American people that their
favorite coin wus about to bu destroyed
as money; thai Ihu greatest finaiicia
revolution ol modern limes was in con
templulion and shout to be accomplish
ed against their highest and deareat
rights I '1 be lax-payers ol the United
.ila tea woru no mure notified or consul
led 011 this momentous nieusuru than
the slaves on a southern plantation be-
lure the wur, when their muster madu
up his mind In incmane their la-k or to
change them Inim acorn, to a collon
Id, evr slliua the Inundation of
ibis (ioveritnicitt has a law id such
vitul and tremendous import, or indued
ol uny importance at all. crawled into
our niHlnie-bin.ks ao furtively and so
liniswleeiely as this, Ila unautmuiil l hero
was as completely unknown to tbu pen
plu, and indeed to four filths of Con
gress itself, as ihu presence uf u burg
lar in a buuso al midnight is to its sleep
ing iiimaiea. Thia wus rendered port
iblu partly bvcatisu the clandestine
movement was utterly unexH.'ctod, anil
purity from the nuttiroof tbe bill in
which it occurred, Tho ailver dollur
nf American history won demonetized
in an act untitled ' An uct revising and
uinohding the lawa relative to thu
mints, assay offices, and cuiuugeof'ltiu
United Stales" The avowed and oa.
lotieihlo piirHise 01 this act is tut birth
by Ur. I.iiidermun, tho Director of the
Mint, in his recent work ihi Money und
U-gal Tender. Aller viliiig very fully
lite legislation of this country on the
subject ot minis und coinage, be says:
Th.re were, bowwirur, pmetelona of law, ..IHa.
tllg IB tbelr ebarseter, .1 1, lb. relative pewera
and duiiea uf Ilia Keerelarj- ot tbe Tree.ury and
th. Dinsitur nf the MioL To reutly tbi. and to
oo.eoliriet. mdoage .naetm.nta war. ibe ehiel ob
jeMeollbe bm avproeed February II, 1171, ra-
iteiog and amending ibe lawa relatir. tu tha
mime, areay ulloeri, aad coinage f tbe rnihtd
Rlatee.
Thia act embrace sixty-seven sec
lions, and fills twelve closely printed
pttgos ot ihe seventeenth volume ot the
United Slates htulutes at Large, r roin
ibis Voluminous and prolix measure,
proclaiming, aa it did, other and total
ly different objects to accomplish, it
wan only neoussary to silently .until the
few words that for nearly a hundred
years had floated the old familiar dol
lur as a full It-gal tender down tbe
stream of time. Tnii was done in the
filteeiilh nection, which I quote in lull
in order that the puople may sou tor
themselves exactly bow this great
wrong wan effected. ,- It reads as lob
lows: , ,.. .
That Ibe eilear eolni.f th. L'altJ Hiatal ahall
le. a trade-doitor, a batr dollar or Bny-oent pieoe.
a quarter d-dlar or lwenly-lv-eit pleo., a dlwe
or len-e.nl piee..- and lb. weight uf tn. trade,
dollar ibeli be twele. ftaae fgrwaaiee) aad Ma
bah of a grata, (gramiae ;) Ibe quar:ar duller aad
Ibe dime ahall be rtipecuvelj one hall and Ofl.
tfnb of tbe weight or aiid hair dull.rt and laid
. .in. aball ba legal taadir at their autalaal val.
Be fur any autount aut exceediDf Ave dollara la
any uaa payment.
Thus it will lie seen that in declaring
What the silver iwiaw ol tb. Uuiteu
Mules should be, the dollar, so lung im
bedded in our history, wad dropped,
literally thrown away aa tine less, and
aiiuthercoiu, sly led a trade-dollar, of no
service to the people as a legal lender,
uus inserted in ils plum ; or, as Ihe
liireclur ul lho Mini expresses il
I'bdrr the prnTt.imte of tbfl let Ih. entrtage
and i.inje wa. fliae.tBtina1, nl the aiirer dollar ul
ll'.'l grain., lb. thrrr-eeal rileer plaoe, fhn Bee ,
t-rut il.ver pttee, aad ma twu.ft-nt br-.nifi plena
And by a subneqiluui ai l ot Congress,
July .-. IhiU, thu Icgal-totider qindiiy
uf the trade-dollar for even the small
amount ot film dollars W aa repealed,
and now it ia mil a legal lender lor any
thing ot any amount. .
Hut, sir, having pointed out the fulee
pretenses under cover of which the
American silver dollar wua eliminated
fnnn nur money system, it yet remain.
to inquire into the real reasons lor such
an act. In the first pluce bud silvur
laded in ils functions as a specie banin
any moro than gohl T Had II been
found any less capable than ita twin
metal in upholding a paper currency
on which thu commerce and business
uf thu world has beun transacted since
the beginning of civilization ? These
two metal, ol gold and silt er have come
down to us together, Imin Hie duys ul
Ahruhuin, Issue, and Jacob, lhey
were in great abundance and in high
lavor whuti l.raul buill her temple and
adorned the city of Jerusalem. They
erupt ulung the shores and tslunds ol
the Modilorraiivan, band in hand, as
arbitrary tartorsin human attaint 1 bey
spread over Europe, on inseparable at
Ilea, during the dark and barbarous
ages that intervened between lho down-
lull of Home und tho discovery of the
an ot printing, the rvviviil ot learning,
in the lilluemh centary. ' Tbe cupidity
ui taao bua delved into tbe faith, toiled
across tho stormy seas, broken solemn
iruuties, sworn liilsu ouths, murdered
his fellow man, and bartered awhy his
sunt alike tor thum both. The Span
iard and thu Purtnguese swept wliule
rotes in tbe Went Indies, Mexwo, Cum
trul and Southern America, first into
slavery and Hu n mil of cxinicnoo, in
tnetr ucenrsmi green enn unrsi tor gitni
ami silver. Throughout all our cidoiiwd
history thuati metuU wero linked to-
guibur in aa embrace that no convul
sion could tear asunder. Ami whea
our Government emerged, weary and
blood-stained trout tlio Korulution, otir
lathers ftmiid tbem both standing He
gel her on our threshold as a mighty
tradition of all the past. They were
adopted together aa our -measure ol
values bucuuao olbeT nations hod dons
the same. They entered their career
as Ameriean mtrner VwrHher, equal it
dignily bulirru the law. lly tbu Con
stitution 11 the UniUsJ Status tlwy Were
mlriKtuced inlu each new llnuliunif
Stale uf our expanding Union on lernil
ot ubsuliilu equality. Wu find by ulti.
ela 1, auction ID' of that iMlrMmuM
ibat-M. ; I.;),,' -,it
N. Rial. abaD a aaaa artaaT. .at
hill, .foreditj aaab. anything but gold aol flB
ret leader ra aarWeeat debia,- , .. -
Fran Uat 4y to ttbis V iDttiimA
: . 1 v - .1 - ' lair- .1
m u . "saw a as.
iuuugl4 jier .uuiui. n Au va..
SERIES-V0L. 1ft, .NO. 5
'every paguol American history lo show
a single instancu in which thu mlvui
dollur has not been aa brave, an firm,
reliable aa tbe gold dollar. 1 chullcnm
thu sad records ol evury rlnanciul alurm,
panic, or crush thut ever belell ua tn
show where for 1 single day or limn
silver was nut as intrepid anil tearlenr
111 the innnev niarKula a gold.
From 1792 to 1873, from iho coinagi
ol the Aiiiern un silver dollur to thu duy
of its industrious destruction. eighl
me years, gold and nilver never flue
tualud In their relation tu ruch oi bui
but a fraction over 3 percent., and dur
ing must of thul timo ailver inonej
ranked higher than gold money, and
did so the duy il was destroyed. Il is
true tbat both these metals, no ttrcci-
ma in tne traditions ui mankind, nmki
down at once when this liovernnit-iii
was called on lo fighl tor ils life, when
tho ull imale ami cxtrwnto navesntte ul
tbe hour demunded a money stronger
than them both, based on the confi
deuce of the ieop!u that thuir (iovern-
ment would live and iioidio; yul when
they full, ihuy lull together. Neither
thu one. nor ihu other, nor both united
weru sufficient to muku even a respeu
table struggle fur national existence,
and they abandoned the fluid on lb
first mar of bostilocannon, buiailvurdid
nut Duo any msmer nor get under cov
er unv quicker than gold, it mat
then, 1 think, bo salely assumed in thu
light of all experience thai the real
reason for demonetizing silver is not tn
be found in its failure to be the peer
under all circumstances, in all uges, und
in all nations ol tbu other precious me
tal which has now become an strange
ly, an snddenlv. and so surreptitiously
exalted ii. tbu eyes of ibe money pow
r as Hie solo standard uf vuluus.
l'ureiiini' our iliQiiirv. ibcrcldro. on
tins point wu comu next upon one ol
the principal reasons now assigned loi
abandoning silvur coin as money. Il
is true that the ninuunly of thu ivueon
is npeii lo the stispiciun which uiwuys
tuiots an argument brought forwunl
us un alter thought lo juetily an uct
which evades all discussion at tho time
uf its pannage, but nevur'-hotetw il shall
bu fairly considered even ut this lute
day. Il is now urgud wilb great vo
l.eniencu by the udvoculoa of the gold
stundard uiouu. that becausu here ami
tberu a European monarchy with thu
hardest worked anil poorest puid rcan
anlry on luce ol tho earth bus banish
ed silver, we are culled mmn by onr
business relations to do the same it
. urged bat we are to fnllnw and mn
list't tn thu alTttirs or l bo world. Au !
..... ,
curding U, th.. argument we ure
trail in the loutnlepa uf gnvurnmenln
whoso principles wo denounce, uml
whose lalxiring people are fleeing in
constant streams lioin their shores tn
our owl. in order tu escape oppression
and starvation.
Sir, no one disputes tbo fuel tbat all
civilized governments huvu certain
communities of interest ; but lo my
mind tbe American Republic is lens
dependent for its strength and pros
perity on the conduct and policies ot
other nations than any other govern
ment now in existence. Nature in her
most lavish mood bun conspired to
muke the American people, in fact an
well an in name, an independent poo
pie. Our plueu on tbe map of the
globe in an isolated one. Mighty oceans
stretch out belween us and all the
first-class powers of lho world What
foreign neighbors we have on our iin
mediate borders are weak and unini
portutit. Wo are not only aubstun
ttully alono as a Mliticul power on
me .Minn American uoiiiineni, ami
separated hy long dintunces from all
the great nations of the earlh, but we
I"""
abundance, every articlo and every
clomenl ol national wealth und glory.
Our vast domain will feed uncounted
ntl ...w n.n..t.l.i..,a e,iH .1.1 ni u
0 nur .ineiui ores respond to ever,- cuii h(JBliu c.ulnor mallly a rsinst m)ur
01 scientifio progress, while the intelli-1 (.urTl,,.y hol immediately convertible
gent industry ol mau, if uol puralyzod ,. illlrilmiu vtluv bul it ,10W
by bud goveriimeiit, will lurover sup , , , tha, ,hl.ro ,. b , ,bcir own
ply all his wants, con.lorts, and luxit-L!,;iu,,B language, an insane inflation
ries. On auch a thcu'er onr gnatuet t.urri... wliub htt8 tUi. Ter in.
rtTTfi0 'l-rBl,nw; "' w bvjirii.ni0 vuluu itself. We have beard
hut little need r4xaniplcs or alliance ' t , )Ve tUt and
lurnislied by le,, lurtunute na.im fa
Adiiiilting, however, tbo arguinent, : mV(J un vue M
U the suke of meeting m that our i ,, t but wo now
financial pilicy tn reganl to a s-ie ,,,,.,. lmt Wfn
btuitionghttobein hurmuny with tbu b more ,bunU,Ilt
r.k.1 ul tltu iritrlil l.,t nu ..vuminii tnli. J . .
lho actual lucu as they now exist in
the various money systems of every
people with whom wu have even thu
sighteet commercial intercourse, linn
silver in lho general trade anil busi
ness ul nations tullun into such discredit
that wu are comtelled to oust il aside
in order 10 keep puce wilh a widu-
spread flnuncialrevnlutinn? I, iii held j
suen utnuutnr an .,. o. mime
broogheut the world that w. can no
T. . . ...... ... . " . ,r"
lvon?
vrn .no eiMHrar, acBte.u. cs-
liinute shows that silver is an enor
mous and overwhelming fuvorilo. Ol ! L" , ""'7
the entiretra.ling,nd.-,..nmer.il,mp.,,',,"N torrents as would unHettle
ul.tion.of U,e wh.de earth 690,250 W " ' "V" 1 ? . 1 l"n1mark,, of
more people have silver alone as tbuir ' e wl" vxnmM hw 1am
ntitiidurd of values and transact all, ml . . . , ,u i r.L
their business upon it as . specie ba-i h9 blt071".-"' Production of tbe
-is, thun those who huve gold nlone , '' mBUl" Kh and pi'O.
source nl '.nlurtnulion wo tear,, that 1 1k" S? W'T'T "
,44 200 000 more punple use silver M)t,vll p,Jlbu ,r lbe highest human in
u one thun use g.dd ami silver both a. u,nj 'n(!iJ t (im)U;, ,,tir,n),,y or l0
their metullic ;m'.,cy. In tins lust j ,Mt nTlllinty lhat tlJr' (tniue.
n uti-mctill Include the mpulul.on ul, .,f ,. j( J, ,bt,r, Xb'6qunn.
the United Slates as using the double ... ,;.,., ...m :
staiiftani, tur ao nuail return 10 It at
;. . i . i '
once, as fur al least aa a specie husis
... t .- i it . - . . 1
cun now exist. The great lud.
therefore, is that In lho mighty bulk
of Intelligent mankind more than lour
times as many people huve chosen
silver as have chosen gold, and more
than five limes as many havu chosen
silver as have chosen gold and silver
together.
The lulluwing, giving the financial
systems anil Hi Kipiilaliun of the
various governments ol lho world, will
bv found in ihe muin correct:
DittrilnitiiM of GoliL, &locr, iW Double
rurrracy Throughout the H'orrf.
A'alf'ene enWrr jpild aune eB.rti.ea
Great llriluin. 32 0 JO. 000
Canada. 4 000 000.
Australia. 2.000.000.
I'ortsgal. 1 4 250.000.
Turkey in Euroieand Asia. 29,500.000.
I'crsia
6,H00,0i 10.
Brazil.
10 0. 'II 000.
1 800 000.
H00O 000.
,41000 000.
4 250 IrOH.
I 800 UOO.
1.750 OHO,
Argontino Kepublia.
Kgypt.
Uurman Rinplrs.
Sweden. . ,
Denmark.,
Norway.
Chili. ' '
Japan.1 ' !
u 2 100 000.
3.1,1 KM (iVq.
, Total. j
ftmltOH, .udir Hint .leier.
140,45U0O,t
arWlfaa.'
-- 67 llOO.(KIO.
OOO.OO0X
2 900.0OH
I 300 OOH
425000000.
. 3WOO0.0O01
a),oou,oia
Russia. . -
Auetlia. . , ,
Ceiural Aioorica.
Keuador.
China.
India. 1 --
Uexkd. i
-- 9
Peru. 4,500.000.
United SUiU'sof Columbia. 2,700.000.
Tripoli. 1,201,000.
Tunis. 2000,000.
Holland. 3.700.000.
Venezuela. 1400,000,
Total.
870700.000.
A if.n. under unlet und fi.tfr. ova', lie.
Belgium.
5100,000.
nonvia.
France.
1,800 000.
30,100,000.
1,600 000.
. .M1li4V. .
Grveee.
iiii.
Switzerland.
United hiules.
27000110.
4.000,000.
Tolul.
132500.OUO.
Il will he i-eeii from this statement
thut silver coin, us money, not only
meets tbu desires of tbnr filths of tbe
human race, but tbut tbonu who use
it aa a standard occupy more than
i hree quarters c,f Hie inhabited parts
of thu globe. Germany ia perhaps pre
maturely placed iii 'be list of bullous
lining gold alone. It ia true she haa
uttempled lo adopt thu gold standard,
nut there are Hill two hundred mil
lions ut silver currency in the hands of
her people, and they are reluctant to
give it up and sou il driven away from
liilheilaml. Whelburtbo empire will
be entirely successlul in depriving iia
subjects ol ibis lavorite money Jet re
mama to be proven. Id view of all
Ibe loregning luds, however in view
ul the hintury and condition ol the
world uu Ibis question tbu enemies
of tbu silver dollar in the United
States who, huving first destroyed it,
seek now tu justify ibeniseltea by
elatid.-i-iiip, Hi. rjul,liin oi' ita metal
iii disiuni Iuik's, must stand befiira
thuir injured countrymen covured with
shame and cm, fusion. They are ut
terly overw helmed and beaten from
their pnsilinii by thu general teslimopy
ii inu civilized races of men, and wo
are loll ul this (mint to follow them
next to their final and in fact real rea
son tor thuir assault upon silver
money.
Sir, I touch now upon an issue as old an
Itiimiiii noiiuly and as universal as tho
Inuitingof money at inleresiaud tbe in
vestment ot cupilul fur income. Two
classes buvu existed in every agu of
history ou thuqtiusiiun of money. All
such as plow, sow, and reap; wbo
spin, weave, and muke merchundiso
lor sale; who manugu and work tbe
"avvrus ut coul und iron, and thu blunt
luriiaces and forges; wbo construct
rudtuads, build ships, und liuind cities;
ull such as are in any way pushing on
thu Csiino ul progress and material de
vilnpiueiil und who desire to kucp
their capital, whatever il may bo, anil
oepeviully that greatest of all capital,
ibebunuuod muscle of labor, active
ly employed, constitute one class.
mono who huve slopped aside from
thu active moving column of affairs
and withdrawn themselves and all they
own from the trade and business of
the world, intending thenceforward to
fasten their idlu wealth on tbe produc
tions ol lubor as a consumer, and not
a. an assistance, constiiuto the other.
Of these two classes those wbo com-
Mis) tbe first desire money to be plen-
ljfu anJ ch f b ; .
, - . lbiJwho w
lho nlll.r Mn ba J
aati'j uiai, umiurru tUl'V ailVKUV UIAVO
..;,,(,,.,,,,,. l0 . J)nvmt
U..,t fl..Uk. .1 .1 J.. I
ut high rules ot interest and profit.
And it was in tbo real and actual in
terest ol this latter powerful class thut
silvur was demonetized in February,
1873,nol because il was luss valuable as
money thun gold, nor because such a
change wus demanded by the policies
of foreign nations, but simply becuuno
ruch a change was demanded by
ibe policies of foreign nations, but
simply because retired cupilul desired
lo diminish tbo amount of money of
every kind circulating in Ihe bauds of
ibe people.
Silver was selected as the victim for
sucrilico nn tbut occasion because it
was thought, on account of certain
ciscumsluiices yet to be noticed, that
it could be mure successfully assailed
than tbe other kinds of money Iben in
existence. Tbe managers uf the great
money centres Hi this country and in
Europe saw with avarcious alurm the
bright streams of silver beginning to
iiicreunu in volume and in valuu as they
, h,..i ,,. m..,hu f mi....,
L,.,i ,, . i,. ,t,ui. ,,.
,hrilllU .j fru, . ,,,,mlvil,y .till
angrier newspaper ores, which thoy
,.,,,,, , cr, wiihout ceasing against
.i... :.... ..i-i ..,..
; iri)j,lclioI1 ot- ,,, lnBUl. Thf.y bavo
'! ..... . . .
hureloloru filled the world wilh their
thun is agreeable lo those wbo want
the purchasing power ol money in
creased by lessening tlio quantity in
clrculutioii until filty dollars will buy
in a I it i in worth a thousand under the
foreclosure of a mortgage. Is it true,
however, tbut for the genuino interests
nf the Amoricin people, for iboir ad
vancement in trade and development,
j ,or h pr,w)unty of our
throughout the world, too much
hu8 , Unjled
Sml or aiiywburo else? litis ailver.
. . , .hr.-tanml to
pour into Hie channels of business such
u'J ui w viiuiw.ii.k. iiivuiuiu wuuieieiie
. ... . i a r
to meet the Icgtlimato demands of
, ,, . . f! . . .... . ,
trade ran bo estimated, bul who has
uvur burn ablu lo look into the mines
and declare bow tar their Veins ol ore,
extend or how noon they will ceaso to
yield f Who has ever been able to
niint nut whom new mines may bo
oKiied into the bidden riches of the
earth to tuke the place of those that
ure worn out, nlcrilo, and barren T Tbo
result bus been thut while the precious
melals huvu been declared tbo stand
ard of values, they have themselves
always been nn unknown quantity,
and Hie irregularity, uncertainly, and
ihsurhVicicy uf their production bavo
caused fii qnoul and crushing disasters
in all count ties and in every period of
history, and have ullen comielled the
strongest governments of ancient and
modem times to entirely abandon
them.
It is not my purpose, however, to
dwell on this point further than to
meet the argument based upon an al.
legeil (iverpruducilon ol silver in recant
yearn. From a report Blade not long
emeu hy a eomnullass in lbs British
Parliament it appears, aa nearly aa can
be climated, thul the entire produc
tion nl' nilees t hmii.frioii, ll,n wrnrlit
(during the lust twenty five years has
reached about il too.ominoo. j uein-
j-crcase in its production during that
perunl anise fnnn about 140 000,000, in
1852, lu 880.000 000, in 1875, and tbe
annual amount pmdiieod at thi lime
may be placed at 170,000,000 Ol these
uinuniita Smith America, Mexiob, and
the United States prod need all excop
ling; about 110,000,000 year, arising
Continued ntxt wtck)