The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-09-16

should repeal the exemption claues
Let the Republic agree by act of Con-
gress that the States may tax the bonds.
| demand justice in the case.
NATIONAL BANKS.
There is still another proposition to
be considered, and it is q very import.
ant one, too. About five years ago, one
Mr.. Salmon p. Chase, of whom you have
heard and read, invented a scheme OF
dational banks for supplying the coun-
try with currency. What is the mOda'
0peraRdi! The Government authorizes
these banks 10 Issue paper money. A
certain number of men get together and
purchase the bonds of the United
States. They put in, say one hundred
thousand dollars in greenbacks, and by
purchasing bonds of the United States
for that amount,t hey acquire the priv
llege of issuing paper money. They is
sue certain amount in notes, and their
notes take the place of the legal-ten-
derS In all respects as circulating me
dium, except that you are not conf
PEELED to receive them in payment for
debts. Let us look at these various
kinds of money and see how this sys-
tenn works. That is the sort of
money holding up a - % gold piece !
that we had seven years ago,
under a Democratic administration.
That is not the mere representative of
value. II is value itself Seven years
ago that was worth 81 81. To-day it is
worth s. 30. Now look at this. Hold
ing up a s. Treasury motel What is
that WORTH 1t was worth five hun.
dred cents when it was issued; to-day it
is worth three hundred and sixty cents
That is the difference. Here is your lie.
gal tender, and here holding up ma
tional bank note is your national bank
currency. Upon the legal tender you
pay no interest; upon the national bank
note you pay six per cent. on the bonds
upon which it was issued, and a good
deal mere, too There is bank in
Hamilton, near where | live, that re-
Gently declared dividend of sixty-one
per cent. Who pays that eXhorbitant
protiti IOu pay 1.-THE people down
at Hamilton pay it. Look at the cir
cumlocution there is about it. Here is
bond issued. Men get hold of it and
start bank and commence issuing
currency. This note in my hand says,
The National Bank will pay five dol
lars on demand 1t will pay, will itf
No it won't. That's lie right on the
face of it. Pay in what In this-this
goldi No indeed. That was under the
old Constitution, which Thaddeus Ste
vens says is at an end. He issues these
promises to pay and gets interest,
six per cent. in gold, on his bonds. Now
the Democratic party of Ohio proposes
that instead of this circumlocution we
shall wipe out the national bank cur
rency, and the Government shall issue
its own currency, and save annually
twenty millions of interest now paid to
the national banks. would like some
Republican editor to answer that
argument and show Why what
have been suggesting should not be
carried out. Will any one have the au-
dacity to tell me there is justice in pay
ing out twenty millions a year for ma
tiOnal banks, when we can have Gov
ernment currency and save that amount.
The natiOna! banks are paid twenty
millions year for supplying a currency
which is payable in another currency
only. We have S36O,O00,00O of green
backs and $500, 200 of national bank
notes. All | want is that instead of
these two, we have $G6O, ,OOO,0 900 in green
backs. Here it is-a gTeenback.
laughter There is not one of you
who would not as soon take the green
back as a national hank note. Aud yet
You are to pay twenty millions year
for the privilege of getting these ma
tional bank notes. | want Congress To
issue $500, 100000 Of more greenbacks
: Ta" " "'' y ViIO s"V"tyIuInlivuo Of iutuI E ut.
want that issue made,neXt wear. when
you are going TO eject Congressmcn,
and want men who are candidates for
Congress to explain their position on
this question. But they say we must
not flood the country with paper money.
Well, how much more paper money will
you have out when you nave $3.50, ,OOO,-
900 of greenbacks than when you have
1866, 600, 900 Of grcenbacks and $500, ,0OO,-
900 of national currency. | believe
according TO the best of the arithmetic
that | learned that $3.50, 600 900 is $3.50
900 600, whether in national currency
or in greenbacks-in one or in both.
THE PROSPECTS.
give it as my belicfthat the Dcmoc.
racy will carry this Ohio election. At
the first of the campaign did not ex-
pect that we would succeed. I was
raised in tn at old Presbyterian faith
which believes ih prcdcstination and
eternal decrecs. | felt that the Lord
would order all things right in the end.
Hence my confidence in the ultimate
success of the Democratic party. did
not, however, expect to succeed so soon,
but | now know that we are on the eve
of grand triumph. | have seen it in
the meetings which have addressed, in
the earnest and uncOnquerable spirit
which manifests itself in the midst of
the congregated thousands and gives as
surance Of the victory. / see in the
elections from her States theevidenees
Of the great reaction upOD which the
Democracy will return TO their ancient
place at the head of the Government.
Connecticut gave the first warning
and succeeding events have proved the
correctness of her mOnitiOns. Cheers
California followed with the graudest
revolution Of the age. Applause.
Maine in turn sends up shont Of re joic-
ing and a word of Encouragement. Let
Ohio complete the column and moth.
ing can be surer than the triumpb
Of the Democracy throughout the
entire land. Men Of Monroe will
you do your duty in this crisis' [Cries
of 1--WE will."l Your majorities have
reached twenty-five hundred. This
year we want twenty five hundred, and
| know yon can give il. Give the old
bag another squeeze. Laughter. ! Rake
the potato hole little deeper. [ Laugh
ter. Bring ont your forces 10 the last
last man. Don't leave q voter at home.
Bring your Radical neighbor with ysu.
There is no reason why he, more than
yourself, shall be swindled by this bond
holding infamy. GiTe him chance to
vote for low taxes and the Democratic
ticket. Bring them all in. Give us the
twenty-five hundred majority and you
need have no fears for the
rest. When your county returns are all
in, If you find yOn have given the ma
jority have named, you need wait for
no other news. Get up your eeIebra-
tion and light your bOn-iires at once
g. Naaa q