Democratic Sentinel, Volume 2, Number 35, Rensselaer, Jasper County, 11 October 1878 — THE RECORD OF IT. [ARTICLE]

THE RECORD OF IT.

A cotemporaiy has compiled the iecord of the Financial legislation of Congress, especially in reference to the bonds, resumption, etc , which we publish below: 1. On the 18th of June, 18t>2, the following amendment to the bill authorizing an issue of bonds was offered in the House by Mr. Holman: “Provided That nothing in this act shall impair the right of the States to tax the bonds, notes and other obligations issued under this act.” The vote was as follows: For the amendment Democrats, (13; Republicans. 8. Again the amendment —|Demociats, (l; Republicans, 77. NATIONAL BANK ACT. 2. On the 25th of February, 1863. the National Batik Bill was reported in :he Senate by John Sherman from the Finance Committee. It was taken up on the 9th of Fein nary, and passed on the 121 b, by a vote of 22 to 21. The vote was: For the bill— Democrats, 2; Republicans, 29. Again.-T the bill—Democrats, 12; Republicans, 9. On the 13th of February the bill ■was sent to the House, and without being referred to the Committee on Ways and Means was taken up on the 19th and on the 20th was pressed to a vote It was as follows: For the bill -Democrats 3; Republicans, 75. Against the bill—Democrats 42; Republicans, 22. The brief time given for the consideration of this important measure, establishing a consolidation in the interests of the money power, compared with which the monster that Jackson slew, (the United States Bink), was a mere pigmy, cannot escape notice. The people were absorbed in the war, and the. money power had full sway in Congress. THE SUPPLEMENTAL NATIONAL BANK ACT. 3. On April 18, 1864, what is known as the Supplemental National Bank Bill, designed to foster and nerpatu ate the national banking system, came before Congress. The vote in the House was:

For the bill- Democrats, 9; Repub- I Henns, 80. Against the bill-Democrats, 65; Republicans, 1. At the same time a resolution to tax the -banks was arbitrarily ruled “out of order” by the Speaker, a Republican to prevent discussion. THE ACT TO STRENGTHEN THE PUBLIC CREDIT. 4. On March 18, 1869, the act "to strenthen the public credit” was passed. By the letter of the law, under the gag law of the “previous ques- , tion.” The vote in the House was: I For the bill—pemociats, 1; Republicans, 96. Against the bill—Democrats, 34; Republicans, 12. In the Senate the vote was: For the bill—Democrats,o; Republicans. 42, Against the bill —All the Democrats; Republicans, 7. j COFFEE, TEA, ETC., TO BE TAXED, BUT NOT BONDS. 5. Ou March 29, 1869, a resolution to tax bonds and exempt salt, tea, coffee, sugar, matches and tobacco . was offered iu the House. The vote I was: i For the resolution—Democrats, 39; ’ Republicans, t). Against the resolution—Democrats, . 0; Republicans, 104. AN ACT TO REFUND THE PUBLIC DEBT. 6. On July 14.187(1, an act was pass od to refund $500,009,000 of the 5-20 ' bonds, payable iu greenbacks, into i bonds payable in coin. The vote in I the House was: For the bill—Democrats, 0; liepub- ! lieans, 139. Against the bill—Demociats, 54; Republicans. 2. I In the Seuute.the Republicans vet- , rd solid for the bill, and the Dcjaio- ' ci ats against it. ' NATIONAL BANK CIRCULATION INCREASED. I 7. In July, 1870, John Sherman, from the Finance Committee, reported a bill to increase the national bank . circulation $54,000,000. A substitute for the bill was offered in the House profit sing to take up the national bank notes and issue $300,000,000 of in their stead.. The vote was: ( For the substitute —Democrats, 41; Republicans, 10, Against the substitute—Democrats, 6; Republicans, 105. The original bill was carried by | about thesame vote. ! 8. On the 31st of January, 1870, the following resolution was offered iu the Houss: THE NATIONAL DEBT MUST BE PAID IN SPECIE. “Resolved, That the national debt I should be paid in strict compliance with the contract, whether it is made payable In gold or greenbacks; that i the 5-20 bonds are payable in green- . bucks or their equivalent, and we condemn the policy of the administration which is squandering millions of money by buying such bonds at a high rate of premium when the government hud the clear right to redeem them at par.” | The vote on this resolution was: For the resolution—Democrats, 34; IV' tFttb'iicrirjn, 1. Against the resolution—Democrats, 3; Republicans, 119 . SILVER DEMONETIZED. j 9. The act to demonetize silver was surreptitiously smuggled through Congress under the title M a bill to i "regulate the coinage,” at the instance of foreign bondholders and bankers, who were represented by a , committee at Washington City at the j time this rascally piece of legislation was enacted, as appears from the proi feedings as given in the Congressional ! Record.

THE SO CALLED RESUMPTION ACT. 10. The sc-jailed resumption law of 1875, which has paralyzed the industries of the country, was passed under the “gag law,” John Sherman declaring, when it was offered in the Senate, that he “would press the bill to its passage from that hour forward.” Tne vote on the bill in the Senate was: For the bill—Democrats, 0; Republicans, 32. Against the bill All the Democrats; Republicans, I. In the House the vote was: For the bill—Democrats, 0; Republicans, 136. Against the bill—All the Democrats; Republicans, 24. THE REMONETIZATION OF SILVER. IL On November 5.1877, the House passed the bill to r‘monetize silver. Public sentiment was so strong in its favor that none—Democrats or .Republicans—dared vote against it except Congressmen representing constituencies controlled absolutely by the money power, such as A. b. Hew--1 itt, Democrat, of New York, and A. ' Herr Smith, Republican, of Lancas- ! ter, who made themselves eonspieu- ; ous in their opposition to the passage l of the bill. The vote on this bill i was: For the bill—Democrats, 97; ReI publicans, 67. Against the bill—Democrats, 10; Republicans, 24. In the Senate, however, where Rs publicans were in a majority, the bill was amended so as to limit the coinage of silver, and otherwise cripple the measure, and finally was veioed by the President. THE REPEAL OF THE RESUMPTION ACT. 12. On the 23d of November, 1877, a bill to repeal the resumption law passed the. House. The vote was: For the bill—Democrats, 104; Rei publicans, 28. Against the bill—Democrats, 29; Republicans, 92. Ihe bill was killed in the Senate This b ief and incomplete outline of the record of the Republican party is sufficient to establish conclusively that it is, ami has been all along, rhe subservient tool of the bondholders and national banks and should . no longer receive any support from the business or industrial classes of the country Prepare to make, two years from now. the condemnation 1 still more emphatic than it was on Tuesday.