The herald and mail. [volume] (Columbia, Tenn.) 1873-188?, 1875-07-30

tempt to interfere with their exclusive
privileges. At present they have 1000
banks, I2O, 900 officers, 100000 stockhold-
ers, and they hold one billion of dollars;
! and control as much more. With all
these doubled it will be impossible to elect
a Congress in which IAN interest SO pow
erful and with such extended ramifca-
tons shall not have a controlling inhu-
ence."
On the other hand, if the country really
means resumption in 70, and this was
not thrown out to delude, who will take
money to invest in manufactures or other
| legitimate enterprises a dollar
now worth s. cents, which before 1879 he
will have to return in 100 cents in gold?
What man who proposes legitimate bus
ness can do this, or will undertake to do it2
Money will continue to be idle in banks
before believer in 1879 resumption will
| employ it. But this man would borrow
legal tender notes, if he were assured that
he could pay in legal tender notes. In
ed currency, which we can only have in
| greenbacks or coin; and as it is impossi>
| bic to have it in coin, we must have it in
| greeubacks. The abolition of National
Banks, the issuance of such an amount OF
| greeubacks as trade demands, and the
| substitution of silver for the fraction al
| currency would be equivalent. to specie
resumption. This can be done by 1879.
! But the effect of our present financial
condition and the contraction of the only
| reliable currency we have, is to make
| legitimate business uncertain-farm ers
| and ordinary business men do not know
what to depend on. The morals of the
country are corrupted and a gamb ling,
speculative spirit encouraged, and the lie
ultimate business of the people depr ess ed
But take another view, based on the face
ofthe Sherman finance bill. The green
| backs are all to be retired, and if nothing
is issued in their place, there will be such
a want of circulating medium that business
will be impossible. This the people can
not stand, and must have a currency.
What will this currency be?
By this act of Congress all circulating
| medium except coin greeHbacks and Ma
tional Bank Bills must pay ten per cent.
to the United States every time they
change hands This is positive prOhibi-
ton to the use of any circulating mediu m
except greenbackS, coin and Nahon ma
Bank notes. With greenbacks retired and
specie payment postponed to l885-the
National banks will have the monopoly,
with its great profit and privileges for ten
years longer Who is fool enough to be-
ievethat ever thereafter except by genera
bankruptcy and revolution, the Nationa
Banks will be shaken from the backs OF
the people-that they will ever voluntarily
surrender these great and profitable priv>
| ileges, aud allow a resum ption of specie
payment? In fact, such will be the condi-
ton of the finances of the country, that it
will be ridiculous to talk of resumption of
specie payment. By this time the rich
| will have become richer, and the poor
poorer. And with the increase of riches
will come arrogance and superiority; with
poverty will come depression, ignorance,
inferiority, subsection. The United States
will contain but two classes: the National
Bank stockholders and the people, who
will be their slaves The first class will
own the country, and the people will cul
tivate it, and work in it, for the benefit
and profit of the National Bank aristocra-
cy. Then all the people except this aris-
| tOcracy will have become poor nchite
| trash, Then it matters not if the food or
drouth or grasshopper come, and what
| fails, the interest on the Bonds must be
paid-there must be no failure in that.
To that end the people must be taxed
| heavily on every prime necessity of life.
| The poor man now pays a tariff of SO per
cent. on the blanket that keeps him
warm. The aristocrat pays only 20 per
cent. on his rich furs. The poor man
| pays 81 per cent tariff on his rice; the |
aristocrat pays only 10 per cent on his
diamonds. Ifthese things be now-if this |
| people: ifthe prime necessaries of life now
| used by the people pay nearly three
| fourths of the custom revenue CT the Uni |
ted States, and the luKuries, used only by |
the aristocrats, pay only one-fourth-
| what will be the revenue regulations when |
| the rich and luxurious have become rich |
CT and more powerful, and the people |
have become poorer and less able to |
maintain their rights? IF these things
be done in the green tree, what will be
| done in the dry The Democracy do
now, as they did in the times of Jefferson |
and Jackson, represent the people |
against bank monopolies, tariff, and all
other expressions. Their principles are:
An equally adjusted tariff for revenue
only; abolition of National Banks; and |
substitution of L. s. Treasury notes for
the National Bank currency the amount |
of the currency to correspond and to be |
| kept in correspondence with the demands |
of trade, and resumption of specie pay |
ment when it cen be done without enrich |
ing the rich and impoverishing the poor |
a strict construction of the Constitution
opposition to Capitalization, and regula-
ton of the purely domestic affairs OF the
States, and families, by themselves; Fed |
eral non-interference with the domestic |
relations of the States,
All honor TO the Ohio Democracy |
They are the first to give the warning of |
danger in the financial scheme ofthe Re |
publicans, and point out way to avert |
! it; and have thrown themselves |
in the front of the battle on this issue.
They made the issue none too soon. A
little longer delay, and the people would
have been powerless against the Banks,
| except by physical revolution,
Protective and unjustly discriminating |
tariff, National Banks and Capitalization, |
| are all parts of the same scheme; and to |
| each part and the whole the Democracy |
of the whole United States in 1876 will !
stand opposed. Bought newspapers,