Knoxville Whig and chronicle. [volume] (Knoxville, Tenn.) 1875-1882, 1875-08-18

Cllef Justice CnaSe, with the uaJOIi-
ty of the Supreme Court, decided that
the issue Of greenbacks during the war,
under a military necessity to preserve
the life of the Nation, was unconsti-
tutional, the decision was heralded
everywhere by the Democratic party as
the grandest triumph of constitutional
principles known in our history, and
when, afterwards, during the admin
istration of Gen. Grant, the member
ship of the Court having somewhat
changed the Court decided by ma
jorty of one, that the issue of green
backs during the war, under pressure
of national military necessity, was
constitutional, the Democratic party,
with one accord throughout the Unit
ed States, declared that the decision
was corrupt, and that the Court had
been packed by President Grant for
thatspurpose. And you will remember
that, during the canvass of 1872, the
charge Of having packed the Supreme
Court to procure n decision sustaining
greenbacks, in fragrant violation of the
| Constitution, was the most persistent
and clamorous made against Gen.
Grant and the Republican party.
/ Democratic leaders have not changed
their opinions upon that subject. On
| ~ the other day,a GallipOlis, Mr.. PEN
dle,on asserted in the strongest terms
that, as a Member of Congress, he had
opposed the issue ofgreenbacksi in 1862,
because they were unconstitutional,
that he never changed his opinion, and
! believed that Congress had no such
/ power. Mr.. Thurman, Mr.. BayaTd,
and | believe every Democratic mem
Der of the Senate, have, from time to
time, denied the power of Congress to
make greenbacks legal tender, charg>
ed that the Supreme Court by which
the decision was made was packed, al
though the decision went no further
than holding that Congress had the
| power to pass such alaw in case of war.
| If the Democratic leaders now be-
! lieve that greenbacks are unconstitu-
| tional, how can we sufficiently con-
denim the hypocrisy OF the demand for
a new issue of hundreds of millions to
take the place of national bank notes?
! If they believe them to be constitu.
tiOnal, no condemnation can be severe
enough for their conduct during the
war, when they denied their constitu-
! tiOnality and did all in their power to
| dishonor them, at time when they
were necessary TO preserve the life of
| the Nation.
The question as to whether Treas
ury note can be made legal tender in
payment of debts is purely a question
of law, to be decided finally by the
| Supreme Court of the United States,
and there is not a respectable Demo
cratic lawyer now in the State of Ohio
who does not believe that new law
creating further issue of greenbacks
as a substitute for national bank notes,
or for any other purpose, would be de
clared by that court unconstitutional
and void
RESTORATION or STATE BANKS THE
ULTI9IATUM.
The whole scheme of further issue
of greenbacks, in lieu of national bank
notes, | arraign here to-day as hypo-
critical and treacherous, designed in
| the first place to effect the destruction
of national banks, then by their vol
ume, and by the decision Of the courts,
to destroy the greenbacks themselves,
and pave the way for the restoration of
the old State bank system. The State
sovereignty party will never stop short
of State banks. A national currency,
whether of greenhacks or bank notes,
Is hateful to that party which abhoTs
the national idea and declares that
| there Is not one nation, but thirty-Sev-
en- Independent and sovereign powers.
The party which clamors constantly
about Capitalization and Federal as
sumption can never be the friend of
the greenback, which represents the
highest form of national sovereignty.
Every year the proposition has been
brought forward in Congress to repeal
the law taxing the notes of State
banks, which drove those banks out of
existence, and the repeal of which
would again open up the flood-gates for
public and private robbery by the es-
adjustment of innumerable kiting
and worthless banks in all the States
Only last year Mr.. Thurman and every
Democratic Senator voted for propo-
sition to repeal that law which was Of
fered ms an amendment to Il finance
bill.
The restoration of the State bank
system means as many systems of
bankings as there are States, violent
expansions and contractions, hundreds
OF broken banks and millions of bank
note trash dying in the hands of
the people. 1t means the Western and
Southern States shall again pay mill
lions of tribute TO the Eastern States
in the form of exchange. 1t means
that the citizen of Ohio can not pay
his hotel bills in New York or Boston
with Ohio money, without suffering
a shave or buying Eastern funds. 1t
means that no man can receive the
price of a horse without examining a
counterfeit detection to see that the
money is good or that the bank is not
broken. The State bank system is
necessary to the State rights Democra-
cy. The party that denies the nation
and hates everything national, turns
with aversion from a national curTen-
cy. State sovereignty and State banks
are twin relics of the times that we
fondly hope have passed away for,
ever.
Settlement of q BROOKLYN Scandal