The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1878-01-25
basis in case Congress should remone-
Sx<a sif x,or YG ..e t.# 40. trs .I 80

tlZe SILVER r -..I r.I4 +-s-. -''. - ~ 30
Gen. Butler-s.If understand what
the banks are about, and / have. no
knowledge except! what see in the
neWspapers, they are making u confed-
Grafton or combination. Uncharitable
persons might call it u conspiracy to
control the currency and the finanoes oi
the country. in opposition to a law oi
Congress which they think Is likely. to
pass. That il, they threaten tO put
themselves in u position to 1lllify the
law Of Congress making the silver dOti
lar u legal tender. Either to thresatess
this or to do it seems to me to be. mar
veaously unwise. The threat,is inn
proper as we'll, and the doing of il will
provoke u contest in which the banks
will xet Il lesson which will last them
an, entire generation, aS the United
States Bank got y lesson which lasted
it until this generation. Whatever ii-
divistua3s may do, ia.sssempting to pua
business on u gold basis in defiance Of a
law of Congress, need not be taken
now into account. But when the
banks, the creatures of Congressional
legislation, set themselves up against
their creator, there is very short way
of dealing with them, to-Wit: the pow
er that .malle them can and ought to
unmake them. Congress chartered,
Congress. can uncharter; and in my
judgment it would be duty of Com
gress to take away the charter of any
bank or banks that enter into any
to nullify the laws of Com
gress. II, as is admitted, there is an
absolute majority ia both houses in
favor Of u silver currency, aud rs it is
also admitted the Constitution has
placed within the Jurisdiction of the
two houses the right to coin money
and regulate the value thereof, then
that majority, acting within its con-
stitutional power, will not permit any
set of men for their own love of gain
TO nullify that or any other. law of Con-
gress. 1t will be remembered that In
the contest with the United States
Bank the President and the House oi
Representatives were alone in accord,
the Senate being against them. Now,
on the silver question, the majority OF
both houses are in accord and the
President is where he will find himself
to be when the question comes before
him-where that is 1 do not know.
ttBut, upon the question whether a
law imposed by Congress under the
forms prescribed by the Constitution
can be nullified, there can be no doubt
where the President must be in pun
ishing notification. 1t is said that
this combination is going to be u wide
spread one. The extent of the conspi-
racy is only reason for the swifter
punishment of it, and the more ener-
xetic measures to break it down. For
these reasons / can sec nothing more
unwise than the reported action of the
banks. If they go on with it they will
provoke 4 storm that will sweep them
out. of existence, and I trust never to
hear any more of it. / wonder that in
all the papers which have reported
their action this view has not been
hinted and would suggest that the
question for the next financial debating
club, called Board of Trade or u
Convention of Bankers'-if there is
anybody there to represent more than
one side of the questionable next
question discussed shall be, tWhat
will become OF the banks p if they
attempt to set themselves up in form
-as there is a very strong prevailing
opinion that they have in iact-against
the will and interests of a majority OF
the people in this country? have
broken my determination not to speak
further on public questions outside of
Congress to say so much upon this
question, in the hope that L may
awaken the thoughts of the managers
of banking capital upon this subject,
that they may not jeopardize, either
by foolish threats or unwise action,
the interests of the widows and orphans
confited to their care, and then come
to Congress to escape the punishment
due to such action, on the ground that
the interests of the widows and orphans
will be prejudiced by the severity OF
the punishment"
A little story about ex-President
johnson, by Mr.. Redheld of the Gin
cinnati Commercial: "Major Pettibone
owned dog which was Il great favorite
of Johnson's. The very day before the
ex-President died he stroked the ami
NAL upon the head, saying: sPrince,
you and are getting old, we are not
long for this world This was Sunday.
Monday night he died, a short distance
from Grecnville, and Wednesday a
train brought his remains home. Prince
was at the depot, and the car contain
ing Johnson's remains ran over the
faithful dog, crushing out his life.
Curiously enough the dogs name was
Grant, and johnson had a prejudice
against that cognomen and always
substituted Prince.''