The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-08-22
WE have received the following;

CARo, IIrso August ~, 1873,
Eplrog BIT LLE1.S; What does Senator Thurman
mean in his speech where he says this
The general rule Is that person pays interest
upon what he owes; hut in the case of II hank note
this rule is reversed, The note j. debt due by the
bank, but, instead Of paving interest upon II, the
bank H. authorized To loan II ~ money and take
interest upon the loan. II thus enjoys privilege
that no one else enjoys IL draws interest upon tts
own indebtedness, and this prNilcgcui thonaii0upl
banks brings them an annual income o, probably
twenty millions OF dollars htADth
He means just this: 4 party wishes
to 90 into the national banking business
If he wishes 10 issue ninety thousand dol
lars of his individual notes to bank on, he
purchases 100000 in bonds and deposits it
with the government as security for the re-
dcmption of his notes. The bonds he buys
are exempt from taxation, They represent
his Indebtedness, and yet it is debt upon
which he draws six per cent, interest in gold,
II is plain To be seen that in addition to
this six per cent. interest which he derives
from the board he also has the use of 800
600 circulation which the bonds guarantee.
This enables him TO transact IA banking bus
inesS, and he loans this 100000 ont at rates
ranging from per cent. annually 10 ~
per cent. month in some instances. II is
thus seen that the National banks, as Sena-
tor Thurman succinctly states, enjoy
special privileges privileges that no one
else enjoys. They draw interest upon their
own Indebtedness and this privilege brings
them, in official figures, twcnty-onc million
dollars. On this subject the Democratic
party of this state, in it, platform, declares
in its eighth plank that
III. the exclusive prcrosaiye OF the United state.
to issue all bulls to circulate rs money and a right
which ought not 10 be exercised by any state O:
poratiou,
And in the tenth plank demands;
The national bank uotrS should be retired,
and instead ofrhcm should bc issued by the GOV.
crnmcu, an equal amount Of treasury notes.
The Republicans in their platform have
shirkcd this issue. The cowardiy policy
which seems to have possessed that party
of late years exhibited itself at Springfield.
and the leaders OF the party contcntcd
themselves with dealing IA generates on
the financial question. One Of the panks
relating to finance defends the measures of
the Republican party in congress on the
finances, and of course it includes tie
laws creating and pcrpetuating the Nation
al bank monopoly. In no Rcpuh-
lican platform will he found
a word against the privileged
banks, or protest against continuance Of
what is nothing short of the robbery Of the
taxpayers Of thi' country Of $9l 100000 an
nually The Democratic party demands that
the national bank currency that costs thcpco-
pie the above sum in interest shah be re-
placed by greenbacks upon which there is
nointcrcst. The Democratic party goes to
the people with a clean record on this as
on every other financial measure which has
originated in congress since in 1862. Each
financial measure of the Republican party,
which time has developed into Il fraud and
a wrong was opposed at its inception by the
Democratic party, and thcrccords will show
!,