The New York herald., 1870-04-07

nevertheless. 20 keep there deposits Of the tax.
there was an Assistant United States rreasurer's
otlice almost within stones throw. bill passed
the House almost unanimously, In January, 1858
prohibiting the deposit OF government money in any
bauk within twenty miles believe, OF United
States suoreasury depository ,S wen' r,n.ane 70 ,ne
Committee. s' senator 4. Q. tanen, Piesdsal
Of ihe Com Exchange National Bank,
Philadelphia, reported agant Its passaye IN
the senate ana the bill was consequently kieH.
The official record shows the United States deposits
tmeAupa @ isds San ss ''iT The "a Assurance ex
ni0Iied In this whole business by the honuraoe
Senator s beyond the power OF lat2uage to de-
scribe. The law tnat expcss incmber of Congress
for selling cadetshlp or consigns snb-treasurer
to the penfentiary for lending the money OF the
Security, and trrespecye OF e me question Of loss,
seems grossly ncoas!sent and severe II these tans'
A iair and Iull 5looded representative or
the new school ring may DO seen 10 the
rotunMa Marsu and co%pscent person Of Hon Daniel
rural oisrict IN Pennsylvania President ot the
First National Bank OF Johnstown, superintendent
OF tue Cambria Iron WORKS Chairman OF the House
Committee on Manufactures and President
OF the Industrial tngh tarinl League In tne grand
Subsidy to the national banks, Mr. Morrels bank got
only So4,oOO. Consequently lhe honorable geasie-
and elsewhere, or additional issues OF currency to
national banking associations Like Artemus Ware,
tue n"n So sr Worre a v w"ua cus "n IN @
rest on the bonds held by the Old scnooers 10000
per year or 80, II Congress WIN ony pass the nnth
section OF the Funding Dill, that permits the
schoolers to get possession OF s72o 0oooJ gold
bonds and currency worth about s4,o0J.ooo per
| annunl. In his speech delivered In the FortIelh
Congress Mr. Morrill, advocated the additional issue
Oh 500, 900 national bank currency, and in
Gates the repeal the clause limiting Jile national
bank CIR caiation to Sao00Oo,0oo.
Altog ether Mr.. Morrell is useful man IN his way
He presents the spectacle OF small nasionol bank
president eected to Congress anu there advocating
the issue oi additional currency 10 those eiecmosG.
L NJ lnD ~
Unsuitable greed puts all honest men TO consdei ing
the best method OF wping the whole system out oi
| existence.
THE ONE THING NEgpFuI
The only proper course for Congress 10 pursue js
TO repeal the National Bank act, call IN the lrredeem
| able national bank currency, issue Rreenuacks unu
cancel the bonds deposited to secure circulation
Here $40 00O 600 per annu eau be saved to the tax
VIEWS or DISTINGUISHED MEN.
Before the national bank lobby mad obtained It's
present strength very many distis uished metnbers
or Congress freely expressed their upon the
subject Some of them do not ike now to see tier
| speeches tn print. They contain nothing any
need be ashamed OF. but, on the contrary, much to
be proud OF. Here are few extracts VI pecunar
| terest at the present times
HON. WILLIAM D. KELLEY,
! In speech delivered IN the House of Representa-
| tlves January 3, 1857, said:
The people regard greenbacks tho noes Of na
wa e s u" niSs &
meIt sccuites and the maintenance OF OF
Z
the ultimate redemption the secured there
no provision for their Immediate redemption,
psesny" Or other bankers who could them
10 such losses BY they naturally prefer
| them.
HON. B. r. BUTLER,
| In q speech delivered IN the House OF Representa-
| tives November ~, 1867. sald:--
Let me state tho way naoua, bank got sslf into ers.
Ss o he WITH poa
eoughs United states eSnds % a. ssppea
sShed as bank and recavsd uho from S
s ss pssnk VIII ass Ss
$500 900 Of the same kind Of money Now, let balance
rsesyes SsoIs sss goo in %ns i
: ossr & s1s ssES & sse N
Currency 70, which ss HI, e fact, 4 paid year ssd
e. me repeat: The difference between what tue United
e. he .s as %
= s E sss as ;ss % t1d money O
But 'ss hnE a is, not sSP sre The gentlemen were
Tho q Tie ana
tho sD sns EAa
sSs S'Sa FOR isan q ssSo9 Ana iii: Is Inc syssa
This only nsas round numbers for the purpose OF nlasra
ton, is an actual and not feisned occurrence.
| Hon. WILLIAM HOLMAN, In speech delivered ir
| the House on Aaech s. 1866, said:--
And :ir while e., three month. there IN
speedily result IN the removal Of feature snanca
as
ply through s present r.. session. but the next. and h.
viii remain unshorn OF s srength Under this system
sor, with handful OF capitalists, obtain tht
benefit of 900 of the interest this
and the benefit OF the political power which commands
Yet the condition OF the country and Of our public affairs
such that without embarrassment and In perfect har
mony with our financial SYSTEM the people might have had
the beneit Of this enormous circulation the
form of legal tender Of the elements of
profits Of this banking eystem Is the interest $500 100000
of currency furnished 70 the banks the which,
at six per cent ony, them the annual OF
] Sl8,D0OCO0 year bonus from government.
In Indiana these banks are totally exempt from mnnt
cpa taxes Taxing the country throughout the taxation
borne by the national banss s nothing compared with hs
| full OF cent Ter a thcl
$500 100000 of circulation, and nothing their $3
Of bonds and they loan out 70 the lsborng
capitalists Of the country, twelve fifteen per PEI
annun, the money furnished then, by governn ent
which they but per cent This Is bu specimen
the uDc0ngcionAble prols realized under this
| its first organization.
Perhaps these gentlemen may not thank me fo
bringing up their anti-Dank record at this time. II
Is one that they ought to oe proud OF rather thar
| ashamed. The national BANK system Is one Of abso
Lutte infamy. 1t cannot be abolished one day Toe
| BQOu,