Monroe's Legal Tender Issue, Volume 1, Number 2, Columbus, Bartholomew County, 6 September 1876 — Page 4

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New Haven Union. j The Democrats of Illinois endorsed the candidacy of lion. Lewis Steward, the Greenback nominee for governor of that state, and the party" organs then demanded that he should announce bis presidential choice. The Independents were also anxious that he should openly btate his preference, as the7 were determined not to sup

port a man who was? not in tail ae

cord with the party. Mr.

paid no attention totthese importunities and kept his own counsel, thns stirring up considerable bad blood At the grand Greenback rally at Chicago on the 23rd instant to indorse Cooper and Gary, Mr. Steward put in an appearance and took part in the ptoeeedings, thus establishing his portion. Ho proposes to sustain the Independent party all through, and will not beg a vote from the Democrats. If his Greenback principles suit the masses he is willing to be governor. If not, he will retire to private life to work in his own way for the elevation of the masses. There are ee many Greenback Democrats in Illinois that the bullion leaders dare not withdraw him from the Democratic ticket.

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Tlit.' loaders ot tr.c two great p;u lies who umpire to au minister our government propose to continue the erroneous financial policy which has been pursued. Oar greenbacks were given (or "valuo received" in the labor, properly, and lives of this people, tnd are capable e-f being endowed with an fsact value, and may have an unquestionable basis of redemption in the bonds of the government. It is rovr proposed to substitute for this currency the old-fashioned

Steward i iSJ"slt'u'1 ' baiiKing upon credit; upon

a currency presumably redeemable in gold, but never certain to be so redeemable; with a basis that ever elides from under the feet of the people, and leaves them periodically amid a deluge of commercial disaster, to drown or swim as they can while a few gain some profit from the universal wreck. This is the injustice of which we

complain. This is tho crying wrong of

e ?e to piitlio JtUs alone, this k-gisUllon ; was

4 GIFT TO THE rOXrHOT.rRS AND A THEFT FROM THE PEOPLE. Of from four to live hundred milliorTg of dollars, without even a pretext of justice or policy to clonk the villainy. The bullionist s talk of-the greenback ns a diehon ore! promise. It was payable in the stand a !,! silver tiollnr, and is now worth ten per cent, more than that dollar. This law, which prevented the redemption of the greenback in silver, is one of the hindrances to resumption which the Democratic platform arraigns lie Iteputlicaa party for en

acting. THE RESUMPTION tAT. Second, the Specie Resumption Lavr. This act was not passed to keep the public faith. That faith was pledged to pay the greenback ia tie standard silver dollar, which being vrorth ten per cent, less than tbo greenback no bolder would tnaie the exchange. The people, for whose use as

Peter Cooper. New York Star, (Dem.l Toter Cooper, above every.oth.ei man in the United States, is tho worktnfrmn'8 friend. He has done more.

toelevate the working classes than! any other man has done. The magnificent institution which bears his honored name ia the pride of Xew York city. The nomination of Mr. Cooper for the presidency has its serious aspects. His enthusiam for a popular currency is worthy of his generous heart. He believes that if the plan were adopted, not only would trade revive and labor find its reward, but that taxation would greatly lessen, and the nation be pcrmanenly benefitted. Very few cabinent ministers in our timo have been so much entitled to trust and confidence of the people of America as is Peter Cooper to-day. His noble endowments lor the workingmen, his keen sympathy with the workingmen, and his hold nnon the aftectiona of the workingmen,

made him a million friends.

Neither of the other candidates for the presidency have done so much for the American workinsrmcn as Tel-

er Cooper has. Whether he be elected or not, the name of Peter Cooper will

ever be revered by America and Americans.

Speeches From Cooper lad Cary. New York Sun Aug. 31. An immenso bonfire illumined the epace in front of the Cooper Union last night, and several hundred persons, unable to get into the hail, crowded around it, or listened with a moderate amount of attention to the addresses delivered from a platform profusely decorated with flags aod lanterns. Inside the hall every s--at was occupied, and all who could obtain standing room occupied the doors and passages. Before the opening of the meeting Eider's band shook the hall with patriotic strains, which were finally drowned by the applause that greeted the appearance of Peter Cooper and Gen. Samuel Cary. whose nominations for the presidency and vice-presidency of the United States were about to be ratified. Mr. William Lawlor was elected chairman, and he explained that the election of Mr. Cooper to the presidents chair would restore happiness and prosperity to the nation. Mr, Lawlor introduced Mr. Cooper, who was cheered. He advanced to the front of the platform, and said : Mr. Chairman and Fellow Citizens : on this occasion I will only sny a few words of greeting and of counsel, and leave the discussion of the main subject which brings us together to the honored guest who lias been invited to address us. Of one fact you may rest assured. It is this: There is but one great remedy for the financial troubles and the distress now prevailing in this country : and that remedy lies in the juct and proper action of the government in reference to the important question of nsoney. We should ourselves, as citizens, know

clearly the duty of government in this

particular, vv e must set n ion a in our discussions, and enforce it with our ballots. This duty of government seems to toe very clear and positive, and yet it has been neglected from the foundation of the government to the present time. The government has, by this neglect, failed to do justice to the people, and baa given over to corporations its own paramount duty, viz., to provide the people witb.a- just end equitable measure cf values, as it is obliged to provide them with an uniluctuating and definite standard of weights and measures. The government found itself under a xsoccssity to isgue bills of credit for the purpose of . carrying on a war or the defence and preservation cf the Union. Coin was then found to be absolutely iiisuiScientj-as it now is, for the large exchanges cf modern cores raerca and . trade. If the administration of this government had intended to enter upon the wholesale spoliation and robbery of this people, I do not know how it could Lave acted more elite lively. During the e:.ght years preceding the panic ofIS73 the government withdrew, . by excessive taxation and "funding," from the daily wee cf the people in their commercial' transaction and the payment of waS3,-wLat answered the pur-t-o:-e cf currency in dillerent fotiuS

the people, which we meet to consider

to-night. I have a perfect faith that if we discuss this subject in the right spirit, we shall be able to throw such a light upon it as will arouse the attention of intelligent voters throughout the land, and compel the administration that may bold the reins of power to establish justice and promote the general welfare. When a government fails to establish justice, and neglects its great function to protect the interests of the whole people, irrespective of any class, then it opens the door for all kinds of political plunder and corruptio.1 which will continue ns long as they aro allowed to

i be profitable. Then monopolies flourish;

then corruption and peculation ere

found in high places : then distress and

sorrow come upon the poor and all who

live by the labor ot their hands.

I long to see the day when a govern

mental policy shall be adopted that will

secure the rewards of labor to theheadt

and hands that earn thorn; when the establishment of justice ehall be made

to promote the general welfare of this great and glorious country, and when

the people themselves shall become conscious of the truth that a government will always be just what we, tho people, make it. At the closo of Mr. Cooper's address ha introduced Gen. Cary, who was loudly cheered. Before ha began to speak somebody on the platform shouted, "Three cheers for that truest and best of men, Peter Cooper," and the cheers were vigorously given. Gen. Cary said he was not there to laud or condemn the leaders cither of the Republican or Democra tic party. Ho had nothing to eay about Hayes slight cheers, nor did he desire to speak of Gov. Tilde n. great applause. J

Rut he would say that Peter Cooper

was immeasurably a better man than both of them put together, and his

election to the presidential chair

would not add a single laurel to his brow. The speaker went on to extol greenbacks ns a legal tender, and to condemn the action of the

government in making useless for the payment of custom house dues and the interest upon the public debt. Itgreenbacks were substituted altogether for coin, it would close the gambling den3 in Wall street as quickly aft Christ closed the temple thst tho money changers had turned into a den of thieves, He denounced the legislation that had made the Interest on bonds payable in gold. There were, he paid, three kinds of bonds, 5-20, 7-30, and 10-40, which might be construed to mean that the poor man should get up at 5:20 and work until 7:30, while the bondholder lay in bed until 10:10. Laughter and applausek At the close of Gen. Gary's address the secretary read a preamble setting forth the platform adopted at Indianapolis on May .17, and in effect that the citizens of New York heartily approve the platform and the nominations. Immediately after the reading of the resolutions the meeting acjourned.

A Speech-from Ccn. Ewing. Oa the ICth of July, General Ewing, of Ohio, spoke btLas caster ia that State. He is cow a candidate for Congress, and is ostensibly supporting the Tildeu-wing of tho Wall Etreet party. We append so much cf his speech as refers to the only issue now before the country. He said: Passing by, a3 a wrong cccomplishcd and irreparable, the law of 1869, which Mr. Sherman so justly characterized before he prepared and passed it its an act of ''res

pudiation and extortion, they are, first, the act of March 12, 1873, and subsequent provisions smuggled into the Revised Statutes, by which all debts over five dollars, payablc-ln gold or sliver, v. ere MADE PAYABLE 1ST GOLD. This act, like that of 18 GO, and like the Itessiraptiou "Law, was "passed by stealth. The people bad no notice of it. There was no discussion in the press, on the stump, or in the halls of Congress, though it added hundreds of millions to the dbt and put hundreds of millions into the pockets of the bondholders without, equivalent. It was slipped through Congress by its ingenious manipulators without attracting the slightest public attention. From the Administration of Washington till the passage of that law the American silver dollar had been a legal tender for all amounts and for all debts, public and private, United States bonds included. Hut. the bondholders and their attorneys in Congress Faw that for twenty years past the world's product of gold had been gradually diminishing and its product cf bilver rapidly icereaVirjg, and that tho United Stales, which prior to the war had produced bo silver, cr next, to none, produced in 1871, IS72 and 1878, taoire than till cf the rest cf the world combined. Tby knew that this enormous increase of silver, the limit of which in the next few years no raan could conjecture, added to the contemplated d&raoneiiifitioa of the silver by Germany, would greatly cheapen that metal us coopared with rgU; hence the legislative swindla fcy which the

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mooey the legal tender were issued, never

asked their redemption. Tho Resumption Law was passed, and its en forement insisted on, not by the people, but by large hoh!er3 of money securities. THE BE.1L INTENT OF TCE EESCKPT10.V ACT. The purpose was and is first to secure to this class through the National Banks the control aud regulation of the whole paper currency of the country: second, to obtain $100,000,000 more of government bonds; and third, to confiscate the property of debtors and double "the value of hoarded currency and currency securities by sudden and enormous contraetiou. To attain these ends we are to be subjected to a reduction of the currency in the next three years from $7o0,000,00Q to 200,000 or $300,000,000. Considering OUR SMALL SUPPLY OF GOLD, Which, under the recent legislation, is to be in effect the only legal tender, a supply

constantly diminishing under tbo conditions of our foreign trade and indebtedness,

which can not be cn&nced fcr years. The

nccuniuhition or retention of ftny large amount of gold in this country is impos.si bis. Into intelligent man can believe that

the banks can keep afloat a. currency re

deemable in gold much if any in'excess of

the greatest amount we ever had before the war, which was $215,000,000. If wc call it 250,000,000 we shall then have a contraction of the currency in three yeara cf about pisty-six and two-tbirda per cent. THE INEVITABLE RESULT OF THE PROPOSED CONTRACTION OF THE CUKREXCT. Such sudden and enormou3 contraction involves inevitably a reduction of all values of land and of labor and its products to an average of less than half their former value. Consider carefully the triple evil of this immense reduction of values First. Our taxes are now about nineteen dollars per head for national, state and municipal governments, which is mora than the whole net increase- of wealth in the United States, an enormous and unparalleled burden which was nearly unsupportable even in a season of genial prosperity. This contraction of the currency will at least double tbo tax burden by reducing one-half the value of labor and property, by means of which taxes are paid. Second. Therr are about $8,000,000,000 of private debts, which will also be doubled hy this vast reduction of the currency.

The effect on debtors will be precisely the same ks though the currency were let clone and all the bebt doubled. It is a legislative confiscation of the property of debtors to an amount four times greater than tbe sum of our national" debt, and a legislative gift, of the plunder to creditors. Third. During this process of contraction, while money is rapidly rising i!i vurchasing power, and while labor and its' products are fiiliingr, 'all productive indus

tries must perish under an absolute lw j of political economy which forbids manual faetnring on a falling market. Under the triple curses cf this law moet of the business men of the country will be dragged from competence to poverty. Millions of artisans, mechanics and day laborers will be ast out of employment for vears, and want, agony j and despair will "fill the laud. AN EXAJfPLE. That thi3 is no extravagant picture is' shown by the history of British reswmp. tion by forced contraction in 18191828. Great Britain was a creditor nation and had vast stores of gold. Her currency was less than one-third the value of ours, and moreover stood at but from three to five per cent, below par iu gohi, yet the Peel resumption act of 1819, from which this Republican Resumption Law ia copied, caused a contraction of over forty per cent, of the paper currency to reach and maintain resumption, blighted her industries, impoverished her debtors, starved and beggared her working-men and doub,ed the wealth and rower of her aristocracy. Let doubters read Alison's "?Inigh:s:' and Doubleday's descriptions of that eaddest era in the inodorn history of England, and tho speeches of Brougham, Baring and Sir Robert Peel himself, deploring the folly cf that law. Wo need but look around us to sea the Fin st rami's or this monstrous policy . Ths aggregate of business failures in the past six months is shown by statistics to surpass those of any equal period in our history; that a manufacturing industry in the United States was never so prostrate as now. Probably a million of working-men are idle and many many Liore millions cf dependent women and children are drifting to a winter of starvation or of beggary. The threat of early resumption, for which neither the government, the banks nor the people are prepared, faas in fact thrown the country into a chronic panic, vvMca itself increases the apprehension on which it feeds, and which, before " the day fixed for resumption, will cause tho death of industries, the subversion of order and property and a more cucl end general voo than cur terrible war Itself inflicted. If 11 E FINAL RESULT WlXL BE A vast addition to our bonded debt, the complete control of the currency and the business of the country by tho national banks, the reduction cf a million of debtors of a hitherto fair fortune to poverty, the degredation of the mass of laborers to pauperism, and ukiinattdy I lV:ir the subversion of our government, in fact if not in form, so that it will cease to bo a government of tha people, and will full under the

absolute rule of n incnoy ol pared vith the gieatSo ro and enslavement which tl

Law will intact tha n;-,ury t-j

meat and people frcm in era juiihidniinistrj tion is petty rind c-phciucral. Alt tho w;

pa;t3 ci tha revenues posyiola mcst vi sriSiin t Iminis tru ion co

the people a hurt j.re,irii r nn of tn

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SUIT BUILDING. Indianapolis, Ikd., June 6, 1876. The headquarters of the State Centra! Committee of the Independent party of Indiana have been estab!tshd ia room No. 7, San buiidins", ludi.iuarioliif, whera cuaiuiuuieations iroui all pavtj of tho Slate will receive prompt attetstioa. It is important that correppuadeuo bo opened with tho chairman of every oouuty central comutiitao hi the State; that tho Chairman tho Stale Central Committoa should bo informed of tho time of holding enmity and tlistrkt conventions. Ad. ire si 1". A. Ot t.KiiA.v, llooia Ko. 7, Sun tiuiiding, IndianKjiotts, Indiana. o State Central Committee. First District C. II. AVosscltr, EvansviUe. Second District Fred. Viche, Vineeniics. Third District J. W, Pcrkiusnn, Columbus. Fourth District J. II. Cunningham, Sugar Branch. Fifth District M. C. Jeffries, Richmond, eixth District C. B. MeCroa, -V.arica. Sevcuth District Geo. V. iiuss, Indianapolis. EishtaDiatrict S. B. Riley, BraHl. 2iitith District Leroy Templetou, Fowier. Tenth District L. L. Harding, LaPorte. Eioveuth District W. X. Evaiis, Ko'c'.esvi'.ie. Twelfth District John Noon&tt, Dartford City. Thirteenth District X. S. Bennett, Orland. TEXTS l OJl THE PEOPLE.

Greenback Currency. It is tnt) belief that Congress can even now restore prosperity to our sujjcriny country, by recognizing the fact that all that in now Or ever ha been required to canie Trcattury notes to be and remain as vnluahle as gold, will be for the Government to so amend the iaia as to make them receivable for all form of taxes, duties and debts; and, at the sane time, interchangeable

with Government bonds at a reasonable rate cf interest. National Prosperity can not be restored by enforcing idleness oil a large portion of the peo

ple- Peteh Cooper.

I now undertake to ajjirmfand without the least fear that I can be answered, that a prper issued by Government, with the simple promise to receive it for ALL its dues, leaving its creditors to take it or gold and silver at their ojr'on, icould, to the cxtait it would circulate, form a perfect paper circulation, ichici could not bo abused by the Government ; that it vould be as uniform in value a the v.etals thcmselvei ; and I shall be able to prove that if, is ivithin the constitution and powers of Congress to use such a paper in the management of Hi jinances. uncording to the vioet rigid rul of eoHstruini'j the constit'iiion. It appears to mc, after bestowing the bet reflection I can give the subject, that no convertible paperthat is, no paper tchose credit rests on a promise to pay is suitable for currency. Jonjt C, Calhocn. Bank paper must be mrppressed, and the circulation restored to the nation, to whom it properly belongs. Let banks continue if th. j please, but let them discount for cash alone, or for Treasury note?. Thomas Jeffkbscn. o Tlie Five-Twenty Bonds.

" When the bill was on its final jassage, the. question was expressly faked of the Chairman of the Committee of Ways and Afean, and as expreaslj a ut leered by him, that only the interest was payable in coin." TilAUDKUn Stevens. " If the bondholder refuse; to take the same kind of money with ichieh he long fit tie b:nds,

r.en an extortioner and a repuuio.tor. John Shesiak. " We should 'do foul inj;tjzire to the Government and to the'people of tins United ,S ntes, after we have hold these bon is on a-i a rage for not more than sixty cents on the dollar, now to propose to mnke a, vein contract for the benefit rf he holder." Oliver P. Mokton.

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Centennial Exhibition, PHILADELPHIA, PA. f jj niS great international exhibition, dcJL signed to commemorate the one hundredth anniversary of American Independence, opened May 10th, and will close Jfovember 10th, 1S76. All the Nations of tho world and all the States and Territories of the Union ara participating in this wonderful demonstration, bringing together the most comprehensive collection ot" art treasures, mechanical inventions, scientific discoveries, manufacturing achievement.-! mineral specimens, and agricultural products ever exhibited. The grounds tlovoted to the Exhibition are situated oa the line of the Pennsylvania. Railroad and embraco four hundred and fifty acres of Fairmount Park, all highly improved andor-namc-nted, on which are erected the largest buildings evor constructed, five of theo covering an acra of fifty acres and costing $5,0i':0,0u0. The total nnaibor of buildings erected for tho purposes of the Exhibition is near ttro hundred. Daring tha thirty days immediately following the opening of tho Exhibition a million and a quarter cf people viaitol it. THE PENNSYLVANIA RAILROAD, THE GREAT TF.f'K 1,IXE AXD FAST MAIL ROUTE OF TEE UNITED STATES, is the most direct, convenient, and economical way of reaching Philadelphia will pass through a grand centennial depot,, which the Company have erected at the Main Entrance to the Exhibition Grou nds for the accommodation of passengers who wish to stop at or start from the numerous large hotels contigu

ous to this station and the Exhibition, a convenience of the greatest value to visitors, and afforded by the Pennsylvania Railroad, which is the only linG running direct to the Centennial buildings. Excursion trn5n3 will also stop at the encampment of the i utrons of Husbandry, at Elm Station on this road. The Pennsylvania Railroad is the Grandest railway organization in tho vrc rid. It controls seven thousand miles of roadway, forming continuous lines to Philadelphia, New York, Daltimore and Washington, over which luxurious day and knight cars are run from Chicago, St. Louis, Louisville, Cincinnati, Indianapolis, Columbus, Toledo, Cleveland, and Erie, without change. Its main line is iid with double and third ttaehs of heavy eteol rails upon a deep bed of broken etoao ballast, ard its bridges ere all of iron or stono. Its passenger trains are etpuifpud with every known improvement for I'mi.i.-rt ami safety, and ate run n t faster speed fur greater distances than the trains of any liao on the continent. Tha Company has largely increased its equipment for Centennial tiavel, and will bo prepared to build in its own shops locomotivcd and pae?enger curs at short notice suiiiciont to fully aecornroodatu any extra demand. Tha micqualed resources at tho command cf the Company guarantee the most perfect accommndations tor all its patrons during the Cvntcnniai Exhibition. The magnificent scenery for which the Pcimgylvaxaa Railroad is to ja.Ttly celebrated pi os-eiita to tho tr.ivelor over iia perfect roadway an "cver-chiiiic'!'! panorama of river,

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son tickets, at red'aer-d rntcs, vill he i principal Railroad Ticket 0:"es .st, Nort it-went, and. $ourh--wt. & U.vc your tickt-t re.nl via the nusylvr.nisv Ilutite to the Centennial. I'iiOIsUS , i). 21. i O i I), Jk., r;i 1J &uf. jrvr. Glu'I i 'u. -s'r A s t -

THE LARGEST AXD MOST FASHIONABLE ESTOCK OF CLOTHES, DOESKINS, FANCY" CASSIMERE, JEANS AND ATINL'iTtj, ENGLISH & AMERICAN KERSEYS. MELTONS AND BEAVERS which I am prrparrd to make up in the Most Fashionable Styles or soli by tho yard, and cut and trim, ft . :n a pair r.f jVnrsi prnU to '.he fiuect overcoats- M 11. LOU I S U UKId EH,WnirSuperintend the Cutting Department and can assure all that perfect satisfaction will be gtven in every c.e. All country cutting solicited. I also Lave the "" fmsmf f fir r - f. that can be found in the City ; also Haf?, Car-3, Boots, Shoes, find a gr-at variety of GENT'S FURNISHING GOODS, which will be sold at Tot torn Prices for Cash. Ilemember the piace, CHAKLESiiA. HUBBAED'S ESOae Price Clothing, TJat, Cap, Boot and Shoe HousatSl

CAXjLi AND SEE G-OOBS AMD LEARN TRICES.

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illSSELL BLOCK, COLCJIHUS, IND. 1JAK13ING. E TA DLLS 1 1 ED 1850.

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TO THE PUBLIC5 PRESENTING THIS GARI TO THE TUBLIC, we desire to say taat wo warranf X Pianoa and Organs ia every res ov l, as rcgai-Ua tkoroaghaess and kuncsty ot manufactur, superiority cf tone aad ferfectiou of praetiai mocliaaism. The 1'ayfor & Far'ey Organ Co., ejtab'Uheil- in tS-45, tave been ete&dify inersiug tkeie facilities aiil improving their icatruoii-sts, untii they liave reached a degree of verfeetioa nceurpassed by any other organ company. They use tho best material and employ tba best wcrkmen ia tho worid. Tbercfo-e tks carl confidently and consciertiouiiy cSor this Organ to tha public, aud recomani it as a soperior instrument in erery rc?pt-ct. Seymour, April 29, JS7S. ' HARDING J: CHENEY.

ESTABLISHED 18(30.

Wkol3sa!a and Retail De'.Ur ia all k:o 5s of

GOI.D SILVSB WATCHES.

SETH TH0MAS;CL0CKS

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CARRIAGE YORKS .ESTABLISHED IN 1S65 B ' T'T I A P Tf q fl T7 JIanufacturcr of ail tha latest aad most improved styles of

i? o iv "V pii o! . ; :Opon and SLif t;og s I TOP BUGGIES. Also, Miller, Eureka, Yivsilan'ti, YUtc-rU and Grcaceastla I SHIFTING S'CAT CA31BIAGES, That jan dinncd o ffx (liferent s'jie-J, very neat and fiarauacroe ffr rnrill f.i:i,4.c. J'av:: - a lar-f stock c-f sU 'he p.'ts vo- ; h;cls, (. . i ia the b--?t stj'.c, and fr Uss j lao&oy than the srs.no h f -j'-k was tver j offered before, those wiisivf t-! 7 ! call and esamica tL wk n j arn prices before pnrcbasir.se eiswbre. 1

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