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EVENING EDITION.
From our Morning Edition.
The Seasons of Life.
BY JOHN M'CTriIDY
Spring.
'Tis SPIMIG-TIKE, and all things are lovely,
The bleakness of Winter is o er;
In the vale and high up in the mountain, -
We hear its piping no more.
The clear brook is free from its. fetters;
The glad bird now warbles its song,
And,the trout in the bright crystal fountain
Is sporting the pebbles among. „
Down there, where the rivulet murmurs,
The wild bird sings sweetly its lay;
There flowers of the fairest are springing,
And lamb kins are seen at their play.
The bee that is seen kissing each blossom,
Is fondly enjoying this hour;
His hum may be heard as he revels.
So wildly in ev'ry gay flower. • .
And such are the hours of our childhood.!
All sunshine, and bl4som, and song.;
No cloud fills the heart, with its sadness,
As the, time passes swiftly along. ,
Summer.
'Tis &mum, and sunshine and tempest,
Alternately sweep o'er the land,
And hill-top and valley are teeming,
With gifts from God's bountiful hand.
Look round o'er the land in its beauty,"
Rich cereals wave in the breeze,
Like the flow of the blue restless;bill.ow,
That rolls on the bieast of the sea 4.
The lowing of flocks in the valley„
Is heard in the soft calmy gale; -•-
And the song of the milkmaid is ringing,As lightly she trips 'through tlie'vale:
The blossoms of Spring-time have vanished,
That round us their sweetness once shed;
All are genet but the fruit that replaced them
Smiles o'er us profusely instead.
We, too, like the field and the forest,:
Have cast off the blossoms of Spring -
And the heart, like the far-soaring eagle; ,
Has mounted on Hope's buoyant'wing:
Autumn. f
' TIe AUTUMN, and sad is thamarinur • ~,
That steals through the *ad with a sigh,..
When twilight is closing around us,
And clotids spread their pall in the ,sky:
The lone bird that flits throughlhe f9rest,
Is pensive, and sings not its lay •
And the sear leaf is dropping , around us,
In token of Nature's decay.
The lands'cape' once clad in its beriiity,
Has lost all the charms, that it wore,
And the lamb that once skipp'd on its bosom,
Is seen to rejoice there no more.
The brook, where the wild bird beside it,
Trill'd sweetly his notes at the dawn, ,
Had charms that oft won us tti'voim them,
But now all those charnis are'withdrawn.
The song of our Summer is en.ded, , s •
Like those of the brook.and the bird, •
And naught but the chill of life's Autunni,
Above and around us is heard. •
Winter.'Tie • . .
Wrurs, and all things are cheerless,
Chill dreariness covers he plain-;-‘ • '
And the song of the brook and the river,
The ice-king has bound with hii chain.
The forest, in strains of deep sadness,
When mov'd by the blast that is drear, - ..„
Laments for the robes that adorn'd it,
When Summer's bright visions were here.
The mead that was lovely with verdure,
Now sleeps 'neath a mantle of snow,
And the prospect extended before us, .
Speaks only of sadness and woe. -
The gladness of spring-time and summer,
Now sleep in the grave of the,past,,
And we hear but the wail of the tempe4—
The roar of the wild chilling blaSt.
Such, too, is the fate thatriwaitsms,
When storms we no longer can brave
When all things before us tarn dreary,
-Then death calls us hence to.the grave.
Late Southern 'New'A:„
Near Yong, April 8
Richmond papers of the 28th nit. report'
Governor Vance, N. C., addressing ihe irooks ,
in General Lee's army.
The ./itrathiner is indignant beCause regi
ments which had been—recruited -by John
Morgan had been taken from him and given
to Gen. Grigsby, a pet of Jeff. Davis', leaving
the former with only five hundred men.
A. letter from Mobile reports that eight Fed
eral vessels were still lying off Fort Powell,
and ten off Fort Morgan. There is no news
of importance contained in the papers...
t • .
Release of Federal Prisoners at ..Web'
mond.
Four Mosmox, April 7.
Two steamers, the New York and Express,
left early this morning under flag of truce for
City Point,
.to bring down the Federal officers
.and soldiers now prisoners of war at Rich
mond. They number about one thousand:
The Underwriter's boat Atlantic attempted
to visit Cape Henry to-day to look after
wrecks, but the sea was so rough that she was
. compelled to, return.
Markets by Telegraph.
Tptic; April 8
.
Cotton firm; sales of 1,500 bales at 76 ets.
'low 59,10 e. higher; sales of 23,000 bbls. at
$ 6 76 90 for State, $7 45®7' 50` for 011ie,
$7 35 a 7 75 for Southern.- . eat adganced
10; sales 28,000 bus. at $1 69' for Chicago .
spring, $1 56 for Milwaukee club,, delivered
in June. Corn dull; sales of 26,000 bus. at
$1 31®1 32i. Pork buoyant, at 25e. Lard
heavy. Whisky firm, at $1 09,1®1.11. •
•
DIARIES ! DIARIES ! !
ANOTHER assortment of-Pocket and.PeA.
feb2
Diaries for 1864, just received and for Bata chiip at
SCHEFFER'S BOOKSTORE, /Doom&
A PPLE S.-200 barrels of New York State
Applea of a choice variety, just , received, and aold,,
low, in any . quantities, ; to . suit purchasers, at .the nese
icrocel7 or Pit.4l ROYER & .IEOERPER.'
.N,,,,,,._\,1‘,\\1111ifet,)--,,'-., .C 4.1111111/:..
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Tell are the rates for a
Snaps. ne baling advertising .
Ili ' ' • venien tfor reference. -
, Mr. rogirlinelfeelesa Constitute'
lines c galore thanibur consditage g
. - 4 T on , Three or:dada e. l.:;,'-:'........ 5 `1 1 .."'....$ , 6030 7 ,7Twe....0-'d ,
. , • . One month
Tido months
Three months - I.' 25 One wi
300 One rn
4 50 Vito n
540 Three
AEI ',EV AiiiiMilii.W "111011101.1.111.1 1
. . One Oar 15 to - Olioc I ) 7_ Administration Notices..
BY GEORGE BERGNER.
REMARKS OF
HON. JOHN D. WATSON.
OF PHILADELPHIA,
Delivered in the House of Representa
tives, March 30, 1864, on the bill 're
lating to the Payment of Interest on
the Public debt.
In rising, sir ; to speak to this 4neaticn, I do
so with feelings of great reluctance and re
gra.--r,-luctance that I am obliged to part
company with those at _home who have been
my soda', mend and political mentors—men
to whom I have been accustomed to look up,
through long years of pleasant association, as
my guides. To part company with them occa
sions me more regret than I can express. But
high, above all personal considerations, Mr.
:Speaker, rises the great duty which 'I owe to
this grand 'Commonwealth, in which I hitie
lived and prospered; and the duty which Lowe
to MY country , and her fiag—my duty to sus
tain this glorious republic in all her difficulties,
great and trying as they are.
I know, Mr. Speaker, that the privateinter
eatief many of my own cmstituerits are very
greatly opposed to the;passage of this.bill ;''and
I feel quite sure that for the votes I shall
.give
upon this bill, and for the sentiments I Shall
utter likita favor, I, shall be called to &very
6erious account. I repeat that It is nothing
but si sense of duty *het ilLpete .me to the
course that lam now pursuing.
I wish tiilookatthis question in three points
of view: first, as a question of a law; second,
as a question of right and wrong; and third, - as,
a question of expediency. And here, sir, I
must express, afresh regret that my friend from.
Chester (Mr: Stunt) has not proceeded with his
remarks, so that I might have' the benefit of
his experience upon the firstpart of this case
for he is a welleducited lawyer, andi am not.
I know nothing of the laws of, my country be
yond what I was taught in the schools in which
[wee educated. S . But, sir, It is a great ,princi
`plia"that, in this free-republic svhich we live,
the Coutltution should be so plain that every
man of common sense can understand it; and,
looking at - the Constitution of the State and
Nieto', the natim4d. think t there cane be. but
one conclusion in reference to this proposed
act—that it is peifectly lawful, legally right,
under the Constitution of the United States
and kif the State of Pennsylvania.
Now, sir, is this money in which it is pro•
posed to pay our interest the law ful money of
the. United Stales I think there can be no
qoeetion about t.hat.. The Constitution•ot the
United States crt ates but one authority to make
or coin money in this republic. It expressly,
n,plain terms, forbids anybody but the Gov
ernment of the United States to coin money.
The English, anguage is not susceplible of, any,
plainer expression,than that. 'What else colle
they have said? They could not say "to man
uiactrire money," or "to. make money."
winither 'it be paper or metal, is coined
—as muchcoinedi If it!be paper money, as if it
be,meted. `lf it is money at all, it is coined;
it Mutt, ba so. It •is •nOB 'money- unless It is
co - 113(0,v end if-it be money it most be coined,
and - lioeOffied under the provisions of the Con
stitution.
EMI
Now,
- does this money represent actual value?
I think it does. If •it doesnot—if this paper
money of United Stites, issued by the ,au
thoritfrdf the. National Government, does not
represent as much actual value as so much
metal- why, theo, fir, we are all proceeding
upon wrong basis; we are all mistaken; we
are going entirely wrong; and the Government
of the United States, in issuing this currency,
has made a great mistake. Now, I think that
chat paper'' currency does represent the actual
wealth of this country, whetner it be in houses,
lands, live stork, metal, . : gold mines—any
thing. The paperrmoney of the United States
represents the Government and the people of
the United. States and all`they possess. Every
thing we have in this world is bound for the
payment ofthat paper money. These notes of
the Government are not, its the gentleman
freim Cambria (Mr. PESIBILING) hai called them.
"paper balloons;" they represent actual value,
more than any bank paper that ever was is
sued. And, sir, if this paper money is depreci
ated it is' notihe fault of the Government of
, the United States. Par from it. It is the fault
of the malicious and designing men, who_insti
tate gold exchangei'in the cities .of New York
and Philadelphia ' and get up stories of all
kindsici depreciate the credit of the United
States—to run-down its paper and run-up the
pr. minm on gold. Any,man who wishes to see
how the thing is done,.has but th go to . Third
street, Philadelphia, or Wall 'street, New York,
and there he will find these men (whose inter
leskilses far above every consideration of patri
otism) huiry -circulating . all lirids of stories
'about supposed issues of new paper and sup
posed victories of the rehels—anything that
will rua diwn theca dit of the National Gov
ernment. 'submit that.this premium on gold
isfabricated'hy'brokers and speculators, and
that the depreciation of the.national currency;
if it is depreciated at all, results from the acts
of these malicious and designing persons.
Mr. Speaker; the fathers of . the Constitntion
ought 'to bif etipposed to have known what its
provisions meant. - -If , that national Conistitii
lion did not confet' the 'right to issue these
notes o ttrarmuat have been very greatly in er
rorwhenttherAndors'ed. -it And I wish to
take the:author Of-the Declaration of .Inde-
Pendence, Thomas Jefferson, and show by his
writings that he believed, and he was the first
man to believe, that. treasury notes were the
great national resource in times of war or other
difficulty; , „ and if Thomas •Jeffelson believed
that this power was authOrized by the Consti
tution, of the. United States, I submit that the
paper money f the United States now issued
is lawful money, and:proper for the payment
of any of its debts.
•
I read, sir, from the writings of Thomas Jef
ferson; volume 6, page 189, a letter dated Mon
ticello; June 24, 1813—a long time before this
cruel broke out. He Joys: •
"In such a nation there is one, and one only
resource for loans, diffident 'to carry them
through, the expense of a war; and that will all
ways be sufficient, and in the power of an hon-,
est government, pun:tual in the preservation
of its - faith. The fend, I mean, is the mass of
circulating coin. Every on knows, that although
not literally, it is nearly true, that every paper.;
dollar emitted banishes a silver"one from the
circulation. A nation, therefore, making its
purchases and payments, with bills fitted for
:circulation, thrusts an' equal'stim of coin out of
:circulation. This is equivalent to borrowing
that stun, anal:yet the vendor, receiving pay.
meant in a medium as effectual as coin for his
i pirchases or payments, haii no claim to inter..
est.' And so the nation *lay dentinue to issue
ifs-hills as far as its wants require, and the
iim[ts of •the ehoulithin Will admit. Those
linifikaits.iinderstaid to ,extend With.us et pre4
shift, to two hundred millions of dollars,
THE UNION—NOW A.ND FOREVER:==Webster.
HARRISBURG, PA., SATURDAY EITNI*;TAPRIL 9 1864.
greater sum than would be necessary for any
war."
That was in 1818, when the nation had but
eight millions of inhabitants: " --
"But this, the only,resource which the Gov
ernnient could command with certainty, the
States have unfortunately . fooled away, nay,
corruptly alienated to swindlers• and shavers,
under the caver of private banki." , 4
That is one extract. But I - wish . to show.
that I have not garbled anything in these let
ters; that I have pot searched out any isolated
passages
I will read a number': .of Passages showhig
that Thomas .Lffereon was really the author of
the , present paper circulating medium of the:
United States. I read from the same letter,'
page 140:
"Bat although we have E 0 improvidently;
suffered , the field of•circulating medium to be
filchid from us by_prigata , dadividuals, yet I
think we may 'recover it. in part„ and - ovep
the whole, if the State will co r operate with Us.
If treasury bills are emitted on a tax appropda
ted for their' redemption in fifteen years, rind
(to insure preference in the first moments of,
cola petition)bearing en interest of six per cent,"
[that is the kind of bills the:Government is new'
issuing; it has one hundred and thirty, millions
of them , ;] "there la noon° who would not take
thcm in preference to the bank paper now
afloat, on a principle of ,patrlogarti aa well as
interest; and they would he withdasiti from
circulation in private hands to a considerable
amount. Their.credit:once established, others
.might be emitted, bOttoMed also on a tax,"
[which we hive dime, sira "but-not bearing
laterest;".[theothers Were tollter interoltilteit
these are' not;] ustierfoireetheir credit fal
tered, open public:Jai - as, erinswhiph these bills
atone should be readied as specie. These, oper
ating ha a sinking.fund,- Weald reduce the
quantity in circulation,•so as to maintain that
in au equtlibrium ivitlespecie. It-is not easy to
estimate the obstacles which, in the.beginpiPlf,
we should encounter in ousting the banks fan
the possession of the circulation; but a steady
and judicious alternation of emissions and loans
would reduce them in time. But while this is
going on, another measure should be pressed,
to recover ultimately our right to - the circula
tion. The States should be applied to," [now
I with this point also to„be observed;]-"the
States should. be applied to, to transfer the
right of issuing circulating paper to 'Congress
exclusively, in,perpetsurn, if posslble,--but during
the war at least, with a saving of charter
,fights."
I read from/1401.99, same volume, an ex
tract from a letter to Mr. Eppes, dated Septem
ber 11, 1813:
"Bank paper must be suppreeso, and jhe
circulating medium must be restored to the
cation to whom it belongs. It is the only fund
on.which they can rely for tome; It is the only
resource which can never, fail them, and it is an
abundant one for, eittiry,.iieceseary purpose.
'Creamy, bills, bottomedon trixwbeatliSie
not bearing Interest, astuiy,:loir
eery, thrown into ciretilation,, will: take •the
place of so much gold and silver,
which last,
when crowded, will, find an efflux into other
countries, and thus keep the quantum of medi
um at its salutary level." .! .1
I read again a short 'passage him a lettet
addressed to the same *Person, dated 2doritiOellov
November 6, 1818: - .
"Perhaps, by giving time to . hbe banks, they
may call in and pay Off their paper by degrees,
But no remedy is eVer to be .expepted‘tvhile; it
rests with- the State , Legislatutes.• Personal .
motive can' be (melted througlf . .s6 many ave
nues to their will, that in their hands it will
continue to go on from . bad to worse, until the
catastrophe overwheltris..uk , 4.• still believe,
however, that on proper , representations of the
subject, a great portion these. Legislatured
would cede to Congress their power of estab
lishing banks; save the charter righltr already
, granted. And this should be asifed,',ript ,by
way of amendment tothe Conetitution,,because
until three fourths should consent, nothing
could ba done, but accepted' from them one
oy one, singly, as thair consent might be ob
• .
stained." ' , . .
Oa page 382, I read from a letter to Thomas
Cooper, dated Monticello., Ecte,mber t lo,, l lBl4:!
k'We ire noviwithotit arty tnedinni; and ne
cessity, as well as patriotism and, confidence,
will make us all eager receive O treasury notes,
if founded upon specific taxes . '.,Congress may
now borrow of the publfc'and.WilhoutAterost,
all the money they watit, to `the `Saida of
a competent Osculation, by inerpli is ulag
their own 'promissory` notes, of proppr (Wpm
bastions, for the hirger purposes of ctroulationi
but not for the smalV • V:
.
On page 434, I read from a letter toj Bap
p 7
Sate Say, dated Monticello, March 22, 1315:
"Amlat this time we haveprobably one hun
dred banks, with capitals amonnting_to one
hundred millions of dollars; on aviiiAi - they are
authorized by law to issue notekto.threetim?
tie
that amount ; '
so that our circulnt &radii=
may now be estimated at from two. hundriA
milltplt; to three hundredmillions. in a-propor
tionZT eight and a half millions." [Thif bank
paper which we L have nowla onlylorie hundred
and ninety-five millions, and the:-greenbacks
four hundred millions,,, for a population of
twenty-five millions, of peopiej i ,"The. banks
were able, for a while, to keep this tritiit at par
with metallic money, or rather to depreciate
the metals to a par with their paper; by keep
ing deposits of cash sufficient to exchange for
such of ther notes as they. ere calletfon to pay
in cash. But the, circumstances of the iron
draining away all our specie, all these banks
have stopped payment," (precisely, our condi
tion,' "but with a promise to resume specie
exchanges whenever circumstances--shall pro
duca a return of the metals. Some of the most
prudent and honest will possibly do this; but the
mass of them never will nor can. Yet, having
no other medium, we take their paper ' of ne
comity, for purposes of the instant, but never to
lay by us. The Government is now issuing
treasury notes for circulation," [these, you will
observe, are the great resources,] "bottomed.=
solid hands, and bearing interest. The banking
confederacy. (and the merchants bound tritium
by their debts) 9 will endeavor' to crush-`the
- the
,credit of therie notes," [thus Mr. Jefferson an
ticipated our present juncture,] "but the coun
try is eager for them," [as 'the country:is' now
for greenbacks,] "as, something , they, can trust
to; and so .soon as a contientent of
them can get into circulation, the bank notes
die."
The next extract is froth a letter;to Mr. cia
latin, dated Konticelloi'October 16, ;11315: " ,`
"The war, had it proceeded, linve
uPget our Government, and a new onewhen
ever tried, will do it. Aud so it must In while
our' money,,the nerve of war; ts much or little,
real or imaginary, as. , out bltterestpoomies.
choose to make it." [ifr. Jetfarson anticipated
some thingi in. our present juncture.] Tut
down - the banksitand if this country could not
be carri4tiOughtiiippgast war against f.heir,
most 'powerfirr &fairy, without oven knowing
RlPlPP l OrinwP7'*w.wejr ,ll . l ...
'h') want of a dollar', withliat ' dependence on
the'tisitorous cloaks of our ,. citizens,
,withoot
Walla* hard on the; 'resources , of the peOplee or
biding the ptitilio with an:indefinite btiithen
of debt, I know nothing of my cOnntryinen.
Not by any novel- project, not 'by . any &aria
tat:mile, bat by ordinary and well expeileneed
means- by the total prohibition of all private
, paper, by reasonable-taxi* in war, aided by the
necessary emissione'tof - Public paper of ciroa
-1 lating size;:th is botiotned"on special taxes:it
cleensable annualljeaiihissPecial tax comes In;
' and finally, within a tooderate period, even with'
theft:od of lir itritalikpet - isith we were
'thiltigtd, would the treastukluive ventu red` its
444 az,e, as tiff Ott or
been grbeitily
reeeivedby the Vpila'!ple in preference,to bank
paper."
11 k9-*t%4X.ltatit 101 read is. from a letter
on p age 616,addressed to Colonel Yancey, dated
January 6, 1816: - •
•gDifferent. persons,-doubtless,..will devise
d.fferent . schemes of relief. One would be to.
suppress instantly the purFency . of ,all paper
not issued under the - anther* or our own
State or the GieneralGoveinment, to interdict
after a few months the circulation °fall bills Of,
five dollars and lindei;;4oei a few *tithe
more, all of ten dialers ank:unde4 after other
terms, those of twentY,'fifty, and4o on tp one
hundieddollanifilwhich list; if ariy,Mutit be left
in ct,iculatiolf 4 ehould be lest ;
loweet 'denomi
nation. These` might be a'consfenitinee In Mer.
candle transactions, and would be 'excluded by •
their size fioditirdliiiiir: ifiteulallon:, 'But the
disdikte niay be too piesslng to await' such .a
remedy. ' Mith'thel,l4lslature, I chstiffully
lettfeltztitipplfthiertnedlolne, no 'medicine
stair:" • .
. , •
Now, Mit "Speaker ,, those are "the Acme of a
man who, of all, others;hee been talked of .14
our friends" cif 'the •Dernocratki party as ;the
ftiande'r;of 'lieulberady Id 'the United - States—a
matrotttiose name has comedoWn 'to . us upon
the.tidevoftime as the most . illustrious chain,
Mon of human' rights. I submit, air, that` his
views are, upon this•subject, agreat'deal better
authority, than anything upon ,tfai 'erttj eet 0(
"paper balloons" issue.)' from . Cambriacounty.
Mr. Jefferson was. eittedOnta man. I popes.),
now, to refer to .tho Opiolonti of a man who
was not such daring the greater part of his
life; but who, at the date;of the extracts which
I.shall read from his 'works, was really a na
tional:mull' allude to the - great champion
ofcht --
atel rightsttio' fattier of a r greatt - deal
;difficulty fn'thedei=times=Jokin C. Calhoun -
wish to show by Mr. Calhoun's' works, that
even he wss in favor of issuing traasnry notes'
I.readf from Calhoun's works; volnine 111,
pvgeh9: P.W.fr must' remember , that I:km6m
o:tent isetbegreat moriey-dellepof - the coto,try,
snd,,the holder of immense' public domains;
andratat,it hes •the power of..dreating a•dentand
oplAst etery:citizanilas high. as`:AtiLVlOdees, , ln
t42ohliPkof allot ilutY,Nrillileh , carr kbe
onafged e em thedafs uow;iscrufly.,A4 banitmotee
or Old,and, •
kneads ibis to a howrthat Mr. Calhoun - don-f
too,dixi, that the: Government :iisa ,
OalOriapthe entire,wealth and resources of the'
nation. ; . _ • - :
.
. ij read now. from page 82 Of the same Volume:
, 11 1 lave drawn.. up 'an :amendment to thie:
:bill. which I shall offer at the IntoPerytiine;• - tei
modify the . resolutione of- 1 181ft ; by providing'
that, after ;the first :of Janne - y, next,-
foutths of : all slabs drie .to the , Government
moy, be received notes of/sPecielpsylrq ,
bunks; and: after. thirifiret-or
f lowl! g, one-half;, and aftenthe first df January
nextjabsequent, one-fourtb7; i and -after the list
tot January!:thereafter,i nothing.' btit the legal
currency, of the UnitedtStatestilvtilils, or notes
'or paper issued under their antldrity,"' [he
contemPlikied.the issue of nciteely the General
Jlnv.ornment,] , " "and which , mayby last be au
thorized to be, received in. theft .dties."
In this passage i - sir, the .gteat champion of
i State tights contemplates the legal-tender cl anto.
-Oa page_ 122,.halays
"I.believe that Government-oredit,'in the
!form I stiggeeted," [that fa, Paper- money is
sited by, the :United' States Government,]
:'combines :all ; the rennisite qualities:of (*edit
clicuistion,in•the highest degree; 'and also:that
Government ought not ,to-use any other credit
bat itsioWn In its - financial- operations:"
'that is about as broadly expresSed ea a man
could-well speak oath's subjecif. '
Theca, on page 424 ) he says: , "Rat. there re
-
wane•
,another and great, advatage. An the
event pf war, itivould open alnioat- unbounded
resource's to: carry.it; on, without the necessity Of
resorting to. what lam almost dispbied toicall
a fraud.:—pulalidloans.
__`Thaire alreidi gloms!
that the loans ,th,p4limaireof-Rogland tb the
Government,, were very little more i t i ltanloan,
ing bxth.tiet thelleveinmtlittiita Own orb s clit;itrid f
this is more or less tree pf all loans where the
banking., system„,,preyalls. was ,pgrimmi
neatly so' lartilite' War. The clietilation of
the ktevernmentsorsiditil in the shape of bills
receivable,mycinsivelyotith gold'and Silver, in
dues, ~and ,tho sales of public lands, would ,
dliiPaucc, with,the necessity' of home) by increas
ing- Rs. bille,, With; the increase et taxis. Tho
increase- al...taxes; of-dotitse,tof revenue
and expendlhares,,would,beltdiewed by an•
creased demand for tacivernment, bills, -while
the,latttir would -psimittthemeins;of paYieg
the- taxes,,without increasing, ;in- the -••same
degyee, tit pritmui•e, on the' community. ` , This
- with a judicious ,sitstern't of feniling,'at-a• low
rate of ,intel:cetorould rgo far 'to" exempt' the
GO Va ;intent from,thonecesaityqof contracting -
,public loans in the-event of 'war." •
Mr. Swalier, I submit -thew: extracts -front
the
,works of,two of -the:greateat !minds .this
(3044, las produced, ' as: sufficient to-=show
that the itane of tressuryi noteely,the Alined
States ROverntnent.svas atesouroe which 'every
man who had etheart the Interests of the Repub
lic, one and:indivisible, felt mnat sooner orlatei
be necessary. I.enbmit them as 'evidence that
theNational liovernmerit has, pursued , a - iight
ands legal course inthksaiar; -that according
to the view_e of_ Jefferson - add. "Oallrouti;-these
notes are lawfiii,ourrency of-the, United States;
rectsivahle inpayment - of.itaArtes. There is •no
limit.to the kind of dues. . WIII bn-obiterved
that those psstutges which I haVe read, , deciere
thatibese treasury notes. are receivable forthe
dues of the National. , ,Governmerit. > Thelt do
not say for any :particular daes i lut they say
for all itedriss. ,
Now, .eir,.therele a Precedent. 'They iffiy,`fer
the dues of,the Government. Now, if tlietki
.notiiiivaccotding , to the' WEINVO of Jefferson Mid
of Oalhoun;'cati be paid — orit by-the Govern.
ment oftthe United-StateirfOr Gellitin, why; in
the name of commow-tiensepeannot the State of
Peni.:l344l44..PaYAMikontifortheednehtst Why(
cannot Shia Connonwealth.of mire pay the in
terest on tier Atbt fir' the • same currency,ln
which Thomas -Jeffetkort - and John C. Caliiftrin,
contemplated-I/tat AIM dubs of the now:
Gioveumertudlortlifpote..4.4 ,„
'worn
'mots- freak t 19t gBtil Bma
why the General Government does not employ
=MN
PRICE TWO CENTS.
greenbacks in _the payment of its interest ?
air. 'WATSON.', The National . Government
has thus hirluidertakai to=pay the interest
its debt greenbacks; but* 'yob- perceive
that there Tis auther#3s , for "doin g 04, and you
Per Celie, dud_ vary legal Jender , clause,
about' which therd,has been 'so much haggling
diaprititiOn; Wes clearly Content
plated-by.both Afthese great light'.
Now, T. .submit that, although I .am mot a
lawYer, I have shown, in point of law, good
reason to believe that these notes are lair=
ful money of the , UnitedStates; that in the'firie
place there is authority for paying the debts of
the National Government with them, and in'
the second place, if the National
may pay its debts with them; there is authority ,
for paying , in -the same currency. any other]
debts; State str,Prinlte. •
my, opinion,.-Yr. Speaker, that.- legali
tendErlB_ clearly susealned by these
quotations; if it In not, sir, I cannot undeisteid
Ape value - of language,' These men were -both
lawyers,. and much,Ahler lawyers, I ,siibmit,
than any that we can beast hiwe., They had
a clear understanding of the Comititntfon 'under
which -they were''rearedi they understood the
laws of the United States, and they had at
heart at the thrukwhen they, spoke and , :wrote,
the beet good of, the people of the I•Tational
Goierninent:
.Now, Mr. Speaker, let ns view this'as a quasi
tion of right and wrong.- Here is just what's'
.we are met with the hitter* abjurgations
from these who are opptsed to this bill. • It is
represented that this is a gieat breach of faith—
that we'..ale AMA to'do something to dishonor
the credit of reurtsylvania and -make her faith
kby-word: Well, if we are-to take mar ideas
from the iibild wit of Sydney Siiith and those
writers in Ragland whoetihabit it has been for
the last fifteen . years' &sheep discredit upon •the
fair ,name,,of., our Commonwealth, we might
think sb. ',But this land, where every
man hasnilgtit to think: for' hiniself, and to
adjust :hie; judgment to suit , hiS own views of
right and wrong, I submit that , it will not do
to quote Sydney Snalth„,aa one gentleman on
the other side did this Subject was here
totermunder dficussic it. inbuilt that it is all
insult to our Commonwealth to intieducit here,
as an authority on, this subject, the name of a
min who has done mote to it.jure the.cheracter,
of. our Connionwealth than any forty wrltere
in England or America. And-stippose - the same
crusade should, be conimenced again .I , hall we,
tor that, be afraid, - to do what is right?. _ Shall
we, An. that. hisaitate to - do what our judge:tem.
teliti us we lutie a right to do? Shad we, be
cause we fear that somebody on-the other Sidi
of, the Atlantic may burl at us these poisoned
arrows,
,hesitates to look , into ,the Constitution,
for ourselves for the method of tipholding the,
nationalcurrency, on which is reared this greet'
fabric, of prosperity' which we now witness even`
in time of .watt Shall.we hesitate to do, what iser
right, slinPly because we fearanAmptyclamot
from John 13h11? Why, sir, this *ten, when,
it embraced bat:as many people atilhepresent
PiTuletioa ;Of, our :own Oommonwerdili--thhe
proud nation didltot fear the British lion; , and
shall i t ntear"tremble 'Wafer* the whelps,of the
'lion? , Rhall we be afraid of these 'hireling soilb
biers who decry as in the LOndon Sines; and in
`other vehicles of slander which.Loodon boasts?
Mr. - Speaker, the, laws under which these
leans were contracted; provide that , the inter
est on , therie loans shall be paid In "specie Or its
equivalent. whit. is the equivalent of
special' :That is.a question of right and wrong
F6i; if we are not giving, in these national e
nOtee,,an - equivalent for specie, then we "are
doing wrong. That h: clear. But are we not
'giving:an equivalent when we,give currency.
which the only ; lawful currency of the United
Statee at this time? - That currency, I contend,
represents the entire wealth of - the United
States. If that currency is not'good, there is
nothing good in the United States.
_ That currency,has been.caled irredeemable.
Brit is only- so called by those who are op
posed to the Government by which,,it is issued.
it is only 66 - balled by men who do all they
can to throwl obstacles in the `way of that Gov
ernment.. , That paper is redeemable; for the
interrial,mz bill was framed as the basis of tha t.
currency -framed'' in pursuance of the princi
ples - einunciated in 'the letters of Jefferson
Those -notes _ of the,Governnient are bottomed
on taxes; they represent the entire wealth of
thes United Stites. They are better, a thou
sand''e
times over, than any bill that - ever could
be 'issued byany bank. They are the'equiva•
lent of specie; they are the best currency of
the country. They constitute,the . money in
which we are bound to pay our interest; and
that Iswhat - we Oiopose to do. We propose to,
pay our interest the best currency of the'
country, for there is tut other currency at this
It - is idle to talk about a metallic currency,
which has wholly dikkaPpeared- 2 being hoarded
op in the vaults of hainka, and akeicillators, and
money-brokers--goldi-maniacein thegreit cities
of ttds tepub4n• It. is idle to talk about that
being the currency of the country. It has been
hotkrded up beyond the reach of anybody, f 0
far as circulation is concerned. We propose to
pay our intereat.im !thew beat' •• currency of the
comktry—the currency which representa" our
Wealth. ;Wet ate therefore,- doing -nothing
wiong we are,simply- doing what is right,
and,what we have aright to . do under the Con
stitution, •
But, sir, there la . another point of vietr,ba
' which this question is to be regarded. At the,
time these loans were contracted, the laws au
' titoriaing them were madestiecific for a- patticu t.
ler reason. We had at that titnemo national
. . _
.paper currency. Oar country was deluged by
a perfect flood of bank paper. Almost ' the
`whole currency of the country was bank paper
i—depreciated trash,- which' Min' traveling
through the country 'changed:at every one
lio.The v_ilYaffe•to,wiiich; htt4eame. You could
'not - go troth one end of New Euglan4,tft, the
'other, withone' exchanging your . currency at
every town throighilwhieli - you Passed. There .
was, no national papercurrencr: In this re
fs Pet we,were,. suffering, „uuder the worst posel--
'ble dyne': Thisre was not coin enough in the
,country`' to constitute` a circulating media&
Paper wits issued as a n'acernity.- If the
tional Government ; had, at that time, come•up
- to the wants of the people and issued a sound
national - circulating Medium of paper, es the
Government has doneiroio, the ease' would
have been different, and there Would have been
no necessity for inserting in our laws the clause
about paying our interest in coin or, ittt,entriv..
alent. The bank =paper gotequivalent - to
coin; of couree it could lint be:. Theab bank
D oug were , at rates =of;xliscount ranging- froin
:twenty-five seate; o 4Lthe - dollar up roAinety
comfit en the - dell gr. None of.,thein were, evw,
at par- EtterrP hiladelphirenrifis were ata
countwin,-Nehriflork. Therefore it" -was ne
wrs%-1740. - "hisiitkArt - :onet-.stritutro , arpiovielictr
Intslieggroe to eur 7 lieurkreld AnkthP.PAYI
void& thistrliiteitertfri something like a good
currency. We do not propose to pay in bank
=
Marriage Notices.
adder's Notifies bo
Animal Noticegi each insertion , • : so
iirsusluess notices inserted in the Local Vatitir.,tr
before,Marriages and. Deader, Erfurt Crarre saaragn rGr
each insertion. . . • .
notet; wepropose tO pay in a currency as Odd
AS any issued-by Great Britain - during the lobg
period When she was flooded with seven hint
dred and fifty =Miens of paper currency.
Let me call to the minds of my, Democratic
(decide the fact that eamnold England,
of whose-ridicule they are somnch afraid, was,
in the great'War which she waged against Wit
poleon„. under theyressure of the same emit ar
rassinents,whiett we have experienced: The
immense debt then swept out of ex
istence the min of tits country, precisely as has
been-the cave with tis; and it haripened with
England, just as it did with us, that paper was
issued to- etiPply the Tacutim. There.was no
other re mule°. If paper had . not heed issued,
there would have beetruo'circulation; the pee
pla of- that country conid not have 'suitained
themselves. ' And I beg you 'to - remark thitt
not only dictthey harts paper, but they, Alined
more than the Government of the lited
States has issued.
'Here I come to another pointjo which I
wish to direct attention. It is assumed; falai: - P,
that this paper currency has depreciated because
of the enormous amount that has been bitted.
Now, When I was last in Philadelphia; I found,
by examination, that the amount of these
ie
sues is about font Mildred and fifty-eight rail
lions—sordathing like that. , The circidation
of the banks In the United Stales is, as bitire
stated, one hundred and ninety-anima milliOns;
so that the two tqratlier do not bring up. the
entire paper- circulation of the 'United ; Stites
at this time to anything like theStandiird that
prevailed in England'inc 1815. AncL,at that
time theopopulation of EriglatiirWas not equal
to. what burs is now; it was bat thirteen
And. yet, sir, it is seppoaed,thajawe,
with a population of twenty,-five. millions of
loyal people, cannot' stand four
.hunared
lions of greenbacks that tie, with oar Choi : -
mous resources, with an empire, continental .
almost ; in its extent, with • boundless mineral
wealth, with agricultural rev urea cif alligh.
Europe stands in envy, Witb a comfit:ice that
whitens:every sea, and with :Prot.:amity nnexadX 7
pled, cannot steed less paper monefthan Beg
land stood in :1815j„
We therefore see, sir, that there, is no earthly
reason"for saying that tide paper money of the -
United 'States is depreciated becausellte
%Leant issued: The Government not4ever4
issued at all; and if Congress would but tax out
of existence the i-sues of these State banks, add
iedeed banks, and. let : us have .-nothin g
bat the greenbicks, there would be.no,.retoe i
to complain of inflation. of the currency: -
New sir, come to the.peint of eifdpieilie*:Y.'
I submit that after we have' consideredithor-`
vughly these qamtions of law, and of right, and
Wrong, we mot take into consideration ; the,
erear question whether'it is expedient' that we
should do this thing;'. for -there •are gdosetiMes'
things which we must do as matternotrexptifir'
ency which we might hesitate to do, werebnote
clicumatabc‘a pressing upon us. I think that,
aw a question of expediency; we sheinliradiVt,
this bdl.-. tbinkthat we ought notto pladarpott .
• the people of ; this,Commonweal onn . nall lion
tore hundred thousand - dollars additioaal ,
&don, to order that the hani-liolddrii
menwealik may be paid in gold. '1 eiribinitigat;
with the enormous buttirensbUthili war Weigh
ing us dOwn, with no certainty 116 - to,mhere the
war is to end, and where 'its burthens ,to„
stop, we cannot afford to eirtlf abstraCt
above:maUers,of expediency and the fe
west of the people. If it were a questions of
autintainingott E good faith, we might aubmittcf,
many sacrifices `in order,to pay our interest in.
coin; but rthink I have shown, that, ixith as
amtatter of right and as a matter' of liiiir;re •
are justified in paying the interest on oar debt. ,
in greenbacks.
I think it expedient also, because the burl hen.
of paying the interest of our debt in gold, with
the premium on . gold. conetantly would
be rather more than men it gielating for :t,tie
people of this Commonwealth, ought, to saddle
them with. In framing our 'bil Is in the 'Com
mittee of Ways and Means', weleve been con -
atantly confronted with.the etioinions Increass
of stir liabilities. Gentlemen en the other tide
of the House press upon us all matmer,of.exer
bitant demands for damages in yet:inaction with
the Invasion of the. State; they pr.,Poss tt at we,
shall pay inamated ealaiiee. Fer everything-We
must-pay oat our, money, liberally; awildn ad=-
dititin to ell the rest, we must ,_also
for Interest than the face of the date calf; fiy—, c ,
becaniethat is the actual fact.' In oVerwcwds,
when a: man comes forward to get one bendier" :V'
dollars interest on loans of the State i it isprer,il
posed that we shall ply him, one hundred snit ;: : :
seventy, txcan-la few speculators have inn up
the premium 011 gold.
I think this measure is expedient alsOonthel:
ground of patriotism and I cannot understand::.
why,' when thin ' argument was rvged by .the
gentlemawfrom Warren 111 r.
the former debate;citemiers pooh-poohed at ft:
Al 3 question of pa.trlothim,lthhak Kist&
pooli z isaohed at., • I think that thesupport of the • _
National Government rises faraboveyarything
614; that that'is thegreat . question now ; and
that whatever stipportwe can lend to that Goi# 2- '
eminent by giving cutrency tO,ltanotes by:payL
ing our interest in them, iiiao much contributed -,
to the actual strength of the Government, There -,
can be no question Of this. So fir as yon lead .
anysaan to believe that - these greenbacks-are: -
not reliable, by paying him in some other cant'
Nig, at a rate which admits that the nationat - ,,
notes safe not worth their face •value,te that ta- •
'tent4ou weaken his faith in the Natioititato - 4:.
'ernment. Here is a raper which saytrilfrit The
GOiernment of the United States ,willlpay.iant;
much money; and you tell that man that that. 4 4.
prOmiee of the GoVernment of the U6ited Stat es,,
is not worth half what itpurports to be."
you tell your domestic creditorsthat /enact'
the National Chivemment:ls.-not,,woh a w,_
, what it purports on its face, yon to that ! witgrit„ _
reduce the strength of 3'Our G over n neat The
domestic-creditor has no right:to derinanititilA
interest Than the facefotarittbondliallefor; 4trid
I do,not see why gentlemen ahpuld peitsistentlY
contend that the domestic any other credifor -
should receive nearly twice the aninunt of b!tt
:interest. ' •
Mr. Speaker, this -;opposition to the preen-' - ' 4
Ntehe. end the dattlor that everything should-:-.
be paid in gold, seem to me but part of a gert zr ,
eral policy to , embarrass the progress of
,tie
Suppression of:the - rebellion, t 6 & ratty
difficulties, to increase the ober
and; if prasible; to render, IEA jilet re
bit). for - the government to proesPasf"---rt
successfulty and to achietrp:finilly
.Dock,r.)
pbantpeace. - '
I am f or the suppression of - itbutellaWY
all hoards, and at all saniitices.. I irsluszni.
of paying the interest on our debt c,3rd
backs because: bydsihriltieh it sty
' hands of the NaillinitLetivernifienl
we do not knew. _dreg thisust received
think we i3b4iila',l4lkAtAbli FRiER,
"tht4titiitititeriiiient: ite the emlis!`' :)
.q on oftheliiiirekintOnletfr
aeon, and do what we can to relieve t' received at
the pressure upon them. XOEIIPRIt
~""""
a ft • z
Ai noyi.
Liar'
- Intiernsin g in ttierincr
- io do will flad tt rni .
ene-kancluare. CAF
wirsuakw bt
da ei y
dart-- 60
aevairg '' --"--
21 1 Ou
:week •• -•
• 2 2 6 3
rragh.
iitlir7r!"7- BCO
9 00
ee montha,...•• 11 C 0
months
13,01.‘,,ttet..
25 0
16 0
-- -