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E-iTABLISHE 185. N-WERY S., C FJIA ,.A CI 49 FINANCIAL PROBLEM ISSUE BIETWEEN ]DEMOoCATS AND 14EPUBLIVANS. Payment of U. S. Honds-Speech of ion. Asbury 0. Latinser, of South Caroliun, in House of tepreseitatives on January 81, 1898. [From the Congressionat Record.] The house having under considera tion the following concurrent re solution: "CONOURRENT RESOLUTION NO. 22. "Whereas by the act entitled: 'An act to strengthen the Fublic credit,' approved March 18, 1869, it was provided and declare that the faith of the Unithd Stites was thereby solemnly pledged to the payment, in coin or its equivalent, of all the in terest-bearing obligations of the United States, except in cases where the law authorizing the issue of such obligations had expressly provided that the same might be paid in law full money or other currency than gold and silver; and "Whereas all the bonds of the United Statos! authorized to be Ois sued by the act entitled 'An act to authorize the refunding of the na tional debt,' approved July 14, 1870, by the terms of said act where de clared to be redeemable in coin of then present standard value, bearing interest payable semiannually in such coin: and "Whereas all bonds of the United States authorized to be issued under the act entitled 'An act to provide for resumption of specie payments,' approved January 14, 1875, are re quired to be of the description of bonds of the United States described in the said act of congress approved 'July 14, 1870, entitled 'An act to au thorize the refanding of the national debt:' and "Whereas, at the date of the pas sage of said act of congress last afore said, to wit, the 14th day of July, 1870, the coin of the United States of standard value of that date in cluded silver dollars of the weight of of 412 1-2 grains each, declared by the act approved January 18, 1837, entitled 'An act supplementary to the act entitled "An act establishing a mint and. regulating the coins of the United States," to be legal ten-. der of payment, according to their nominal value, for any sunis what ever: Therefore, "Resolved by the senate (the house of representatives. concurring therein), That all bonds of the United States issued, or authorized to be issued, under the saidi acts of congress hereinubefore recited, are payable, p)rincipal and interest, at the option of thle government of the United States, in silver dollars of the coinage of the United States con taining 412 1-2 grains each of stan dard silver; and that to restore to its coinage such silver coins as a legal tender in payment of said bonds, pr-incipal and interest, is not in viola tion of the public faith nor in dero gation. of the rights of the public c:'editor-" - Mr. Latimer said: Mr. Speaker: The resolution now pending before this body, which has passed the senate, clearly states the issue on the financial question be twe~en the two great p)olitical partien of th's country. The resolution shows the condi tions under which the bonded in debtedness of this nation was con tracted. In addition I shall incor porate a weli-authenticiated state ment of the different bonds that have been issued, with the date and amount of bonded indebtedness that exist t.o tbis day. According to the last report of the treasurer of the United States, the mitorest-beairing debt of the Uni ted States consisted of $847,305,130, exclusive of the Pacific railroad bonds. These are also substanteial ly the ligures as given by President McKinley in his annnal message sent to congress at this session. The items of this debt are as fol lows: Funded loan of 1891 interest at 2 por cent., payable at option of the United Slates, amount outstanding $25,864,500.. Funded loan of 1907, interest at 4 per cent., payable July 1, 1907, amount Qutstanding, 059,040,100. Refundimg certificates, interest at 4 por cent., convertible, amount out. standing $45,130. Loan of 1904, intco-st at 5 per cent.., payable February 1, 1904, amount outstanding $100,000.000. Loan of 1925, interest at 4 per cent., payable February 1, 1925, amount outstanding $102,315,400. Total amout outstanding, $847, 305,180. It will be useful to examine this table in detail. The first item:is $25,304,500. The bonds making up this amount are dated September 1. 1876, and I give a copy of t o body of one of them: "The United States of America are indebted to --, or assigns, in the sum of one thousands dollars. This bond is issued in accordance with the provisions of an act congress entitled "An act to authorize the ro funding of the national debt;" ap proved July 14, 1870, amended by an net approved January 20, 1871, and is redeemable at the pleasure of the United States after the first day of September. A. D. 1891, in coin of the standard value of the United States on said July 14, 1870, with interest in such coin, from the day of the dato hereof, at the rate of four and a half por centum per annum, payablo quarterly, on the first day of December, March, June and September in each year. The prin cipal and interest are oxtempt from the payment of all taxes or duties of the Unitr)d States, as well as from taxation in any form, by or under State, municipal, or local authority, transferable on tho books of this office." These bonds fell due in 1891, and were continued by mutual agreement between the secretary of the treasury and the hoidors. The following me morandum was printed across the face of these bonds: "At the request of and for value received by the owner of this bond, the same is continued during the pleasure of the government, to boar interest at the rato of two (2) per centum per annum from September 2, 1891, as provided in tret ry circular No. 99, dated July 2, 1891." It will^thus be observed that there are $25,334,500of United States I o ids now outstanding which can be paid and ought to be paid at this time. The second itom of the national indebtedness amounts to $559,040, 100. I give a copy of,;the ho dy of one of the bonds constituting this amount: Washington, July 1st, 1877. "Thme United Stat-~ of America are indebted to -or assinga3 in the sum *f one thousand dollars. This bond is issued in accordance with the provisions of an act of congress entitled 'An act to authorize the re funding of the national debt.,' zip. proved July 14, 1870, amended by an act applroved January 20, 1871, and is redeemable at the pleasure of the United States after the first day of July, A. D. .1907, in coin of the standard val'ie of the United States on said1 July 14, 187t, .,ith interest, in such coin, from day of the date hereof, at the rate of four port con turn per annum,' payable quarterly on the first day of October, January, April and July in each year. Thej pirincipal and interest are exempt from the payment of all taxes or duties o,f the Unitied States, as well as fronm taxation in any form, by cr under State, municipal, or local au thority. Trrainsferablo on the books of this oflico" The third item of this indebted ness is relatively small, being $45 130 of refumding certificates. 1 give a copy of the b)ody of one of these certificates: This certifies that the sum of ten dollars has been deposited with the treasuror or the Un ited St ates, under act of. Febuary 20, 1879. Washington, D. C. Treasurer of the United States. Act of Februar-y 20, 1870. 1tegister of the Treasury. at four per *cent. per arnum, into four per cent. bonds of the United States issued ubdor the acts of July 14 1870, and January 20, 1871, upon presentation at the oP.co of the treasurer of the U. S., Washington, D. C., it, sums of $50 or multiples thereof. lThese, it will be observed, are con vertLiblo into bonds as those last de fscribed, and henceo are to be cou structed like the other 4 per cent bonds. The fourth item of this indebted ness is $100,000,000, due in 1904, and are the b3nds issued by Presi dent Cleveland in 1894 and 1895, on the ground that is was neces sary to maintain the $100,000,000 i gold reserve. I give a copy of ( the body of one on these bonds: THE U. S., OF AMERIoA. Are indebted to or as iigns in the sum of one thousand :lollars. This bond is issued under ituthority of an act of congress en titled "An act to provide for the re. miuption of spm-io pnymenf," np provied January fourteenth, eighteen itindored and soventy five, being one f the descriptions of bonds doscribed u the act entitled "An act to au horizo the r'funnding of the national ioht," approvod -July, vighteen hun-11 Ired and seventy, as amended by the tt of January twont,ieth, eightoon lundred and seventy one, and is re ieomable at the it the pleasure of hio United States after the first day >f February, nineteen hundred and lour, in coin of the standard value of he United States on said July four ,woenth, eightoen hundred and ievouth, with interest in such coin trom the day of the date thereof at. bo rate of of five per centum per rmnuum, payable quarterly on the first day of February May, August md November in each year. The principal and interest are exempt rrom the payment of all taxes or :luties of the United States, as well is from taxation in any form by or .inder State, municipal or local nu ,hority. Transferable on the books of this >lice. The fifth item consists of $162,- I 115,400, bonds due February 1. L925. These bonds were issued by Prosident Cleveland in 1895 and 1896 to replonish the geld reservo I ror the third and fourth times during I is administration and under same Iorm as that just given in the one aundred mill:on issue. This completes the description of he outstanding interest-bearing debt t lue by the United States, and the onds, of which I give copies, are ho obligations and all the obliga ions to which the resolution refers.1 The Republican party has sailed t inder false colors for years, and the I resolution now pending will land t them, about 5 o'clock this evening, vheni the vote is taken, sqoare on the single gold standard side. Mr. Speaker. that party has claim. ad for years to be the friends of the people, as against monopolies, cop porate g reed, bonholders and capital ists. But, sir, the veil that has I partly obscured the deceptive atti tudo of this p)arty will soon be raised, smd, in my judgment, you will find thmem voteing to a man, under whIip < oftheo party lash, to change the con-< tract written in every bond issued by the United States government when they wore issued and under stood by the holder, that the govern. ment of the United States should pay these bonds in coin. In fac I, Mr. President, not one ob ligation ever issued by this govern mont was payable in many other money than coinm or currency, and1 the fact, which no intelligent man on this Rioor will (deny, is tht.t these bonds up to 1865 were boudt by the bondholders for groenbacks at from 30 to ($0 cents on the dollar of "cain,' silver and gold. Now these bondholders ar- eumanding that bonds bought at 50 cents on thme dlollar ar-e to be redeemed by the Unrited States government in gold --a money that has been doubled' in value by logislating silver out of the mint, and by law creating a double demand for gold. Sir, the Republicnns and Mug. wump Democrats of the Cloveland stripo have had the last protense of friendship for silver removed by tho complete failure of international agreement. In my judgment, they never expoeted nor hoped for such agreement. Their object and aim was to deciove the people, perpetuate thomeselves in power, and to serve their masters, the bondholders, by paying their bonds in gold. Mr. Speaoer, this samo proposition was made to the Fifty-fourth congress by the prostitute Grover Cleveland when Ee wanted to write "gold" in the )ond issue he was then consumma ing with Morgan & Co. But wo ,ejected his proposition, and accord ng to his figuring, pai ribout $16, )00,000 rather than commit this 3ountry to the single gold standard. Now, sir, it will be loft for the Re ?ublican party to rob the millions of >oor toiling men and women of this -ountry and to -collect from those oilors iniquitous high-tariff taxes o put money in the treasury by which to fill the pockets of bloated )ondhondors with the doarest noney known to man-gold. Mr. Speaker, it is not enough for heso enemies of the peoplo to con inuo to enhance the value of gold )y striking down silver on every ide, and to stand in these halls in ,he interest of 2 por cent. of the Uoerican peoplo and 4 per cent. of ,he business of this country, but hoy go further and undertake to lostroy the plain contract made by he governmout with those bond. iolders when they made the pur ,hase. How can the Republican )arty and the gold standlird mug vumps pose as , the friends of the American people when on this fitian -ial question they voto for 2 por -ent. of the peoplo and 4 per cent. >f the business done in this coun ry ? )Why, Mr. Speaker, 98 per cont. of >ur people never have a business lealing of any kind with any foreign :ountry, while 90 per cent of our busi iess is confined to this Union. And yet ho American people are to be forced o the British single gold standard, vhich results in a fall in prices of abor and all the products of labor. Vhy is this done? That the 2 per ent. of the people may revel in uxury and affluence, while the 98 )er cent. are to toil on without the ncrease in currency necessary to nake this country prosperous. What 6 proposition it is, that 90 per cent. >f all the business done in this coun ry is disregarded in settling this inancial proposition, and that 4 per ent only is to be regarded! Ah, ~fr. Speaker, let mue warn the repub icans on that side of the house, that hey had as well undertake to close h6 granaries and mills of this coun by to corn and outlaw it b)y legisla ion -and furnish sufficient wheat to eed the world as to undertake to 'lose the mints to silver and feed tihe bemanid for money from gold. You Rtepubl icans areu resp)onsible or tihe present price of silver, and argoly for the pauperism an)d dis ress of the laboring p)eoplo in this oun ntry. What is it about this resolution hat is wvrong ? And why are we lenounced as repudiaitors or violators f thle p)ublic faith and credit, wvhen ,ve hold that the terms of the con ract should be binding on both arties? If silver has lost in value, ,vhat caused it? Who caused it? D)id the masses who must pay the lebt do it? No; thle bondholders ontrolled the Republican party, andl :hrough themn accomplished it. You know the bondholders unidersitood1 this contract; and no honest court on .arthi would dare set asidlo a plain sontract like this and( pla(co a burden Like the paying of these bond(s in gocld ont the peeplo, without tlicy igreed to it. W~hat cani t he Itopulicat nmaty maan by their vot ('5 on t his quest ion ? Do you moanm that no solemn pledge or contract is too binidinig for you to break in the interest of the bloated bondholder? That the interests of the people' who sent you here are to be0 disregarded, trampled under your feet, when it conflicts with the bond h',ldor's interest3 'The silver dollar pays the laboror, the teacher, the preacher, the lawyer, tho farmer for his produce, the inerchant for his goode, the crip)led soldier for his sor vice to his country; but the bond. holder is to bo placed above these. Nothing but gold can satisify his greed. Today the Republican party stands ready to violate a contract, break the agreement solemnly entered into with the consont of boi parties, and perpetrate an outrago on the masses who toil and are poorly paid, that richos may be poured into the laps of thoso who have no right to thei and do not need them. But lot mo warn you that retribution will come. Rest assured if we cono into powver not one single contract shall be do. stroyed, but equal justico shall be ineted to all the peoplo. Full com plianceo with tll cntracts and obli gations of t.his governmont accord ing to the plain terms of the law will be enforced. That government exhibits the highest honor and its representat,ves the greatest patriotism which pro tects the masses of the peoplo against 'the oppression of the rich, and aids, )y just legislation, the toil. ing masses in securing homes and the comforts of homo life. sir, the outragoons constrmetion placed upon this contract an(1 the change made by the law of vsrm, making these bonds payable in coinl that Were bought with groenbacks, all dono by the Republican part.y, makes you, as a party, res)onsible for doubling the debt of this nation Imnly times in the interest of the bondholders. Sir, I affirmn that the $847,3015,130 of bonded debt that exists today will under your construtiun, if paid in gold, cost this nation more of labor and of labor's products than it cost to pay over three billions of in. debtednoss we owed at t.he close of the war, when we had a sulicient volume of currency upon which to do business and prosperity prevailod in all sections of this great nation. I desire to say in conclusion, if the Dingley high tariff, or high taxes on on the necessaries of life, and a sin glo gold standard of valne, a dollar that costs twice t.ho amount of labor or labor's product to buy it, will bring prosperity to this country, then I advise o popl to vote the Republican ticket. If not, then you have no right to publio place or trust, and the sooner you are ban ished from powver the better for the country. Johnson's Chill and Fever Tonic Cures Fever In One Day. TRUE1 TO1 1EAJ) IFE-s MEMOY, Mian Rfuise. S 10,000 for, Plot o,f (Orou,eI Whtrg, ilocy Ww hurled. Oakland, Cal., February 28.-The donth of Henry Odonkorchon, who was for ninny: ears ahnIlost a1 recluse in the lonely hills of Alamionit, hats revealed a story of lost fortun les and1( devotion to a dead wvife's memltory. Thirty-live years ago he was one of thle wealthiest inhabitants of Now Hlaveni, Cjonn. Hie was idontified withI the~ V Wichest er A rums Comp1 any. having many large contracts with that corporation. 1H.4 lost his for tunie through a shipwrecr(k whieb car ried to the b ot tom a enargo of armu-i h leavily i nterestedl. Before lho came to Calhifor ni his wife (died. HIer remains were in. terred( in a Now H aveni cemei(terv. As thme city grow it encompi aMsed her rest ing p1lace. A short t imen before hiis (leathI the hiusb)and reinlsedl to uan. cep)t $10t,000It for t he~ 1plot. Hei was p)ostmas11ter and( exp)ress agent, at AlItamjont, bult is binoss 10 ventures in this Stato did nmot provo SOUTHERN CLAIMS HAVE SMALL CHANCE REEPUTIMICANS RCESORT 'T'O;FIllU8T FAiUNO TACTICS '10 DIEFFAT MH ASU111ES. It Twice Thoy Haive Faillvt-ivitrelt lit 9ietince Ilelind 'two Deanin for illvr Ohintages OurFret.-UO,greHnuen 'l w irleatm in Many Oaee-Now1wEry (o1-go (if.tt (Ite Money Finul ly to %Villelh It Was" Et titled Yeara Ago. [Atlanta Constitution.] Washington, Fobruary 25.-Thev 11011so 1hats just acted fav1orabl1 ulponl at clafim inl which manny peoplo inl Goorgia and the Carolinians feel a (iop interest. 'Ihe caso wis that of Nowlrry college, inl South Carolina, anId tho bill carries anl aipproprialti< n of $15,000 to pay thm cliiim in flill. 'Tho passago of the bill is a signial vict ry Ior Congressman Latimer, of South Carolina, w%ho has been so inl sistant upon pushing thisi claim that about half of t.lio mlllbors of the H1ouso know him only ats "N(wborr.) Collego" Latimor. No Southern claim, and no other claim for that matter, w1asl over more just auid e(litablo. The collego was i Litlorall instititioin and the mioney for its building wias contributed by. m1101m1bors of that Churcht ill south Carolinn, Georgia and North Caro. lina. Tho building Was Itnew%- ill INW)(). In July, 18b5, it) Federal soldiirs took possession), dispossessing it, 1 7" pupils and their teacheri and used tho building as a garrison. Thr hI the misuso of till soiiers the i iLl ing inside of at your beciile Ia total vreck. it. will bo note( thmt beforo thw building was occupied every Confod. orao soldier had laid down his arms and hand recognized tho Union as sui premo. The building wia taken in direct violation or tho order of to Prosidont, who hadi dveclarod "10hat litorary instit itions should bo vX0em) pt. from use or abusi except in cases of absoluto tecessity." Tho first movelmnlilt matd to steur ing the payilont, of this claimii Was the submission of It 1)titiol of the trusteos) b' RopreHentativo Aikvii, back in 1878; but, no further action Wtas then taken. Congressmii Lati muer took up[) the matter whe he first camne to Congress. Ill September, 183, ho introduced a bill for the paynoit of tho claim ilnld at his in stanco Senator Butler introduced a similar bill ill tho Sonate. T1 ie b.i II passed the Sonat but got no f1LAreI I than the favorablo rep ort st ago in the Hous15. Again ini 189)5 both Hepresent a tivo' Ltne anl~ 1ld Sen1at or 'Tillbnant introdued il ls prov'idin1g for thle passed( thle Sonalte, it. was1 111npossible to got action iln the H.ouse. Last MaIrch othier bills were intro duced inl the Senaiito and(1 the House. It is an1 easy'maidtet to) got sucht bills thlrouigh the Senaltotl, and( on1 Ma1y 1 2th tho bill1 of Senaitor TiIlhntan passed'f. thait body. Tis week, lifter a hard fight, Contgressmian Latimter andii his assoc0ia1tes succeeded10( ini gettin11g it. thiroutght the Housel. Thiis is the second11( climl of niotol wh'ichl thle Southern mtmiahors haive t.uicceeded1 iln gettinig thirough thlie House lit thiis sessioni. '1T(1thte was tho bill for thel paiymlent of the South abloult whlich so0 mu ich hais bleenl sid in thll papo1ts1. ToI bothI im1-tinces5 much01 Sam 13 :onison Cooper, w ho is 1im' fi rst Democrat on ihe comm111ittlte on1 SOuthli Cirn wal cliin lS. atEPUnJLCANs STaloNtol.Y oOi5 Tlilu[, ma ljority t oward S11outhernci war clia is lis a1 class. Thle re aire 1 iany 11)1 to sandils (of these--ch ums t hat Italve 1mot the apptlro)val of the( g.overmnioul)lt valid a1s these two. Buit it is the( p)olicy oft till lt(tpublilians ini the H ouse to pe4rm it none1 (If ths to4.0 go throulghl; these7: two we(re4 passel pri - mily 1 because of 1 t church (7 influ) It is the 1)01liey of the Ronnbllicanii not only to oppose these claiis when they como up before the House, but t iprovei t by parliamentary tactics their consideration at all. To do this is very easy uindor the rules wL ich they have made. It is their practice to devoto Friday night to the consideration of private pension claims This is done in committee of th wholo .ouse, and after these bills have been approved by the corn. mittee tli%y li on the tablo until privato bill day, when they co no up its ifinislied business and have the right of way. The result is that the calendar of privato bills is kept in tho background until those ponsion (1as80H tire disposed of. On soveoral occasions the Hepublicans havo jiili btistered over thoei pension bills dis oussinjg ihem and talking by the hour for the more purpose of killing time so that tlt, privtto caleidar catinot be renilehd. 'A\Nv .NJU'ST As Mi-'rToamous FAIL. Tie result is that many moritori. ons chims on which vigilant repro smitatives have long sinco secured favorablo actionl by the colmmtittoo, cam.ot be reached. I have in mind, for instance, tho (llii of Mr. l riO, of Atlinta, f< r tobacco not takein dii-ing 0 o war bit pirlasot otitright. Thor is no morv juist cliim hoforn Congress, and yet, it is ittimssibl to securo pISHag of this bill, like mny similar onies, becilse tho l1eimbliclans will not, al low them to e considered it all. Our,. Take JOHNSON'S CHILL & FEVER TONC--u A P'ri,Itablo, ICnte (rpris.4 Mr. Editor: Go awfay from home to get nows is a trito saying often correct, as in ho following Oase, which I take frorn The Courior. joiul11, afind which I think will in terost o mny of your readers I there. rOrO cli) it OtW tiand sei it to you for piblienitionl if yout soo lit.. B. O. D. TeAmerican Wool and Cotton Rlopoter in ius last. ntuber gives an iist aice of tle profits mt1ado int South - ern votton factories. Piftoon monthis a"o the mill lit Suttiter, S. C., wits ciosvd oil tcoit (if (tbt. Exactly at yvar ligo tho mnill company Wasl rror11mz1'd andt' oporatives rosumed ton m .y orrowed at a heavy rate of initerest. VTe rosulits wvere as tottishitng, for duritng a year of re mtarkable dist ress ini the (cotton) spinl inlg intdulstrty 'ill expnises, includmng iteretist Ott th btoI)rrowedl caplital, of 12. |-lr cet. were turned(lover to tito stoctkhoitldets. The citpitaliiization was $IF,I)0t antd thle ttill empiiloy ~ 10)t0 i operativtes. Moreoer it htas Iboughit tall thIe ratw cot ton it needs( fot thIiis atnd thIt next season ; htas conl.tract o nionght to tutn ont ftull ti me for soverii mithIs ami ox pets to (declare a l i ~ ecn t. di vidlend( for I 898. The Sumttr mill was niot atn xcept iot nal earner acecorin itg to thte statemenott of one( of its ollo er*s, who said: "'You thitnk we did somethinig re! maurkable to earn.t 1 2. p er cont. dur-. intg last yourt, do y'oui \ Wol. so we iid, cont sidlering thIe conitIion of thIt mtill's fiinantces and coniditions a year ago. lit let tme tell you, thtis was tnot the only tmilI int Soth Carolinta or Not ItCarotl tia that itearinod 1 2 per cent. anrd more duirintg thIt 1897 seaisoit. 1-ome, tiosrt of t bet, have niot 'dleclaire' suchl a dividentd, but ty have 'earnedi'" it, antd thte owners thtis your in itg t beI tteor contdition thItan for t ho last seve n years, Ox pect to earit mtoro tnel ttonty thati over.'' lTe cotat rast sltowun by this state mtet to thte stirikes anid the reducedl dlivi'tils of the New EngLlaalnd-mills is tin impretissiv ro ))of of Southterni ailvatatges. Manuttiifactui .rrs with -och opportuitle is as this before tthetm have nto nteeo to engage ini truists. \M lit is thle use of running when we i-r atnot in the right road?%-Ger