Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1873-10-31

Extracts from the Speech of Governor
Whyte at the great Democratic Rati-
Acation Meeting in Baltimore on
Monday last.
POSTAL TELEGRAPH AND SAVINGS BANK SCHEMES
Successful in his effort TO abolish the frank
ing privilege, Mr.: CTeswell has determined,
like his abolition allies, TO keep "peggine" at
bis borrowed schemes Of postal savings banks
and postal telegraph. The idea of importing
TO this country these English systems, suited
though they are TO a consolidated monarchy
would have entered no brain capable of appre-
eating the free Institutions Of America II
was the effort of our fathers 10 protect the
people in the free enjoyment Of every trade and
calling which was not prenicious TO the public
interest, and conine the government TO such
affairs as were conducive TO peace and good
order among the people. But the men in
power at Washington to-day, having violated
almost every constitutional guarantee Of a
political character, are now seeking to enslave
the people by absorbing the business of the
country, and ''gobbling up'' even the small
savings Of The hard-fsted working men of the
land. All these things are tending to that
radical idea Of blotting out Estate lines, - and
putting the whole country under the benign
influence of paternal government.
| The national banking system has taxed out
! Of existence nearly State bank, and has mo-
nopolized the currency Of the country TO loan
| it to spectators and stock gamblers in Wall
| street, from whom enormous rates of interest
are obtained for the payment of large dividends
! to their stockholders. Can a system be just
which allows capitalists to buy up the bonds
| ofAhe United States, and on depositing them
| in the Treasury, obtain 80 per cent. of a cir
| culating currency to be used in diseounting
at enormous rate of interest, while the people
are to pay the interest in gold on their very
| bonds And what rotten system that must
be when you make deposits day after day, and
| sudden panic occurs, as it did in Wall St,
| and you demand your money from the bank
only to be told, Your check will be marked
good :" or what seems more extraordinary
you may get a clearing house" certificate
perchance. And such has been the example
! set in high places Of contempt Of the plainest
provisions of the law that the officers of these
banking institutions rarely if ever keep on
hand the 25 per cent. reverse of the aggregate
amount OF their notes in circulation and Of
their deposits as required by the statute. APP
plause. Besides the
STOCK GAMBLERS OF WALL STREET
have such a fascinating influence over cashiers
and presidents nowadays (''the reason why
] cannot tell that it has been the constant
habit to certify their checks for enormous
sums early in .he morning TO be made good
during the day, without dollar of security
to protect the bank for the performance
OF the promise, although this mode of business
| is in direct violation of the act Of 1869. But
why should the officers in banking institutions
be held to strict accountability to the law
when the President of the United States and
the Secretary of the Treasury deal with the
law as with flannel shirt when it is uncom-
fortably warm-they take it off, But when
they violate the law they have some ready
newspaper or pictorial sheet 10 s'cover up their
tracks," so that the dear people may be guIed
into the belief that our rulers at Washington
are a claw abiding administration" Zap
plause
Now, not satisfied with the beauties of this
national banking system, Mr. Creswell propo-
ses postal savings banks at the post-offices all
over the country, with 'head center' at
Washington, SO as TO draw into the meshes of
the government every man, woman and child
who has dollar 10 put away for rainy day.
am opposed on general principles to the de-
struction of our own admirable system of saw
ings banks. They are efficient and controlled
by men of the highest character in our midst
they have been managed with great skill and
prospered wonderfully; they have been truly
u 'Godsend' to the laboring classes of our
people, and for one shall raise a voice against
the attempt 10 destroy them and build up
| system just as dangerous as the national bank
| ing system now is.
| What is to be the effect ofsuch an establish
| ment To create a horde of new officials. Is
not the army of sixty thousand officeholders
enough now to perpetuate this administration
in its power Are postmaslers to be bank pres
idents and cashiers Are letter carriers to be
bank runners and clerks to be tellers AL
1y de IF he
all over the land and every man who had a
thousand dollars over his expenses was stJay
Cooked" into buying United States securities,
and at the last presidential election every bond
holder was frightened by the warning cry thai
a change in the administration was repudia-
ton OF the public debt And now we are to
have the loose change of the people drawn in
to the postal savings banks, so that instead Of
national bank suspensions hereafter we may
have postal bank suspensions before a presi-
dental election, whereby a third term may be
secured, ard Cesari:m march triumphant over
a PROSTATE and bankrupt people. The postal
telegraph is to be another gigantic manufacto-
ry of officeholders, until at last it will take all
the radical party to fill the places. Your mes
.sages to be scrutinized by govern ment Off
cal. Your very Utmost thoughts to be known
perhaps to a political adversary. Applause. I
You are compelled by law to send your letters
through Tue nldliS, Win what llttle security as
to the sanctity of their contents you know and
now it is proposed to send all your kilograms
through similar channels. Postmasters to be
telegraph presidents, letter carriers 10 be dis
patch boys, and postoffice detectives to be ope-
rators. With all these new offices, with pos
tai deposits and telegraph dues, what will be
the amount of the stealings do you suppose
Why you know the money order system was
adopted because you could not send ten dol
lar note through the mails lest some of the
light-ingered gentry in the post-offices alb
stracted it, and what would become of the
poor laborers' hard-earned savings after pass
ing the ordeal of the Post Office Department?
DEMOCRATIC POLICY AND PRACTICE.
Governor Whyte spoke of the blessings of
education being extended to the colored as
well as 10 the white children of the State by
the democracy Asked if crime had not