GREENBACKS AND BONDS. 547 



Mr. Garfield Mr. Speaker, I never heard the provis- 

 ions of this resolution until it was read from the desk a few 

 moments ago. It has, however, attained some historical 

 importance by being talked about a good deal in the news- 

 papers, and by blocking the other business of the House 

 for some weeks. As I listened to its reading I noticed that 

 it is one of those mixed propositions which has some good 

 things in it which everybody would probably like and vote 

 for if separated ; but the good things are used to sugar over 

 what, in my judgment, is most pernicious. 



There are three things in this resolution to which I 

 wish to call the attention of the House before they vote. 

 The first is a proposition of the largest possible proportion, 

 that all money, whether of coin or paper, that is to circu- 

 late in this country, ought to be manufactured and issued 

 directly by the government. I stop there. I want to say 

 on that proposition to the majority in this House, who are 

 so strongly opposed to what they call centralization, that 

 never was there a measure offered to the Congress of so vast 

 and far-reaching centralism. It would create the treasury 

 of the United States into a manufactory of paper money. 

 It makes the House of Representatives and the Senate, or 

 the caucus of the party which happens to be in the major- 

 ity, the absolute dictator of the financial and business affairs 

 of this country. This scheme surpasses all the centralism 

 and all the Csesarism that were ever charged upon the 

 Republican party in the wildest days of the war, or in the 

 events growing out of .the war. Now I say, without fear 

 of contradiction, that prior to 1862, the wildest dreamer 

 in American finance was never wild enough to propose 

 such a measure of centralization as that single proposition 

 implies. The government should prescribe general laws 

 in reference to the quality and character of paper money, 

 but should never become the direct manufacturer and 

 issuer of it. 



