Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-07-19

~ 0nectS l'TouucCu upon our whole SS stem
pey these measures. The 3U,h section OF
sour hist revenue Law under the constitu
non, in l7SS, is in these words: "rhc du-
snes ana fees to he collected by virtue OF
ibis act shall he received in goid and siiucr
sspin only" There is no doubtful import in
these words Yet, in a very few months
afterwards, Hamilton, as Secretary of the
5sEreasury. issued the following important
tSlrcuiaT to collectors of customs:
"IREAsURY DEPATMENT,
t& "Scptrmbcr -, 1893.
SIR: In consequence Of arrangements
-Intely taken with the Bank of North hnncri
Ga and the Bank oi New York. for the ac-
gon'mo;!ation OF the Government, am to
tniorm you that il is my desire that the
snotes nt those banks, payable either on de-
;mand or no longer period than thirty days
after their respective dates, should he re-
,eelved from you as sucl, by the Treasurer
ef the United States, "Nc.
~ hus we see that tn" Secretary ;lIcn con-
|stfned gold and silver coin only" to
snean bank notes payable thirty days after
gate. Ii viii be remembered that ai t!a,
time there we're no banks a, all in large
portions OF this Uninu, Il: Il thus, while the
supporters III one section were compelled
70 pay duties III "oo!,! and silver com oul> :"
,s9 other scci'ohs they could pay in The notes
" tw" hankS. even though they might no,
nc -redcemahIc until tEriy days a.;cr date.
Sfhcre Is no man sn hiiud who cnnuot uu-
ders'and ilic operation oilhis system. i he
secretary ihcn made lis report 10 Congress
~ the neXi session in Justification OF Ih,s
CIRCULAR. This report Is dated I'D Apr.l.
EfSu. In that document he us..S, amon.st
oncr>,. the following reasons: Tia, the
,eNtchsion oi incir (Iank uDi;>) circulation
,oy the Treasury * CHlcuiaicd 10 increase
DSth The ability nnl Tic INCLINATION Of ,i
hanks To 0id Ike GDIrrU1ncnt." Aud Inc
3Mfther SAYS, in the same report, 'hnni;
ttates ocii@ convenient species OF money,
}MhatcN'r incfcSvs 'ncir clr uiiIiun increases
,tAe, quantity o! c.irrcrt mony." About
,tHfee months after lhis report was made,
Eth2rrs9 passed Hnoihrr act, on the Ith
august. t|JU. ana IN i!Ir ,J5ih section of il
SSiESSSiy rc-cnHciri IL" c.;Ic;iun ni gold
Sasi silver coin only contained III IT,, :5Uth
SEsNion "i ihc last act. Ind y.r notw ;h-
sss1ndin2 this, Tie law wa, ,'is.'cc S;,.r'!c,; -
20 ,Secreiary clearly shows that he welt
Z ;,p!l 2I 9.,2raiion rfibins, even at
fnar e;tr)y day. These were the cirrum-
stances under which was formed the uu
cieus ol that grcai stock interest, into hose
power IN" Government has been thrown.
ahd winch now demands aS Il riniiI what
was at first 4ianic,! rs n favor. Sir, IN
tracing out tnc>r cv"!iIs il is well for u, To
coiisidc" The motives and the ohlpcts of
those who then held the future tlcsiinirs OF
Tins Government in their hands. liamil;ou
used This cmphaiic Ianguagc in 1891 -
Purge il Uhc Bri,isl, consiiluriom OF us
c"rr'ipli"n', and give To lis popular branch
equality of representation. and il " ould be-
come an lmprac,icahlc Governments; "a, il
stanus ut present, with all il supposed dc.
iert>. II Is the n",r pert, Government,
which ever cXi>tcd!" Sir, this sentence
speaks voumc. 1t Is lausu:cr rlivin.
liStu that no man cum mistake. |, is won
dcrini now tn look back aud see his sauaci,,
ana "rr>'gi'' III forming those measures for
winch he y" Huch adml.cd IN the !Irui,n
constitution. and in which ,r l!iunci,t nur,
SD detective. We have Witnessed tb. ,,ro-
sSress oi tins system until it has now spread
through our whole country. reaching IN lis
raniIbch'ion ali interests in society, not only
demanding in alliance with ihi, Govern
ment bn' threatening to dictate law 10 this
Cnncurrary.
Mf. Chairman, i'll deciding upon the ac-
non Vi IL Government, there are far more
important ula,lcrS to be considered, Than ,h,.
Pccuniary INCEST of hi, or that class i'm So
clety. And let no man deceive himself nv
the plausible aid beautiful theory that all
Glasses IN the h"dy p"tic have a mutual
"epe"ichcc and hHrmony of interest blend.
ca '"selhcf. Let no man suppose that that
winch adds power and profit 10 a spcci..-
or capital necessarily has Il rorrcspnoaiu,
effect upon lanor. | utterly dcnv the in.
gcnions doctrine, lately pun forth from very
ii'sn authority. that there is no such .Iny in
tins country as capital and hor ,ha, all
are capitalists and all are l,hnrrrs. Th;s
is cer'ainlya new discovery left for ,uo!crn
Invention. There never wa, u oco,uu,n;,v
constituted under political power. which
would not ilnaliy, N the progress of time
classI itself into capitalists and Jaborrrs
and mat winch may L Il blessing To ON,
may be IL curse To The olhrr. Win ,;n,,
lha' we may understand that there is u dit'
ference III the Interests of some of riI. com
muhIty, AMI with no other view oi pr,scn,
let lis look NJ the operation Of the bauti,,
system on liis country in reference alone
10 'hc expense 81 Tie rirrr ncy j. furnishes
C"Ichia'e circulation as II was in Jauunrv
1901 ~ Siio,U)o,Ouj. and i,icn add 10 TIA;
I've ?'~'o"',uoo specie lying in vault to
sustain ejaculation, aud u,'on which inter.
est must be made by those who keep j., sn
us 10 indemnity 'hrm for lis U.s.. in ,bi nncu
cy. ana tllcn We nave, upon adding them
together .'22O.OnJ.OUO, upnn which the in
iefc't VIII he Si1.iuJ,OJO annually. Iii,
IS equal 10 the whoir tobacco crup Of the
United StatcS. Who receives This interest
laborer> or capitalists in bank stock! And
tins Is but small item in The amount o,
Their profits and dividrnds. Banks. TOO,
IN modern times claim an Icntitv will! the
people. as 81 they were Que and the same
No WOEdCr, li!cM, lhnf we hrnr the .rn