Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1878-08-30
senator Blaine on the Currency Dues.

senator Elaine address II large meeting IN
Biddeford Me, Wednesday night Of last
week, devoting his rema ks principally to the
financial question. AIS Of his points were
as follows:
The Greenback people say that We should
not have any banks. For seventy years we
have had lanks. and we could not conduct
the business Of this country for a minute
without banks Why are banks necessity:
A bank is place where the borrower of mon
cy meets the lender, where the surplus mon
ey is deposited. Suppose n man wants to
borrow $4,000 to go into business with.
Greenbackers would send him all over the
country borrowing fifty dollars here and fifty
there. There are at the present time three
bills in Congress for resurrectng the State
banks. New England enjoyed under the old
system the best banks in the country, but
they owed their reputation to the personal in
tegrity of the men who stood behind the
counter and the speaker APPLY illustrated the
weakness Of the system by referring TO the
Lnmberman's bank, which might have been
said to have been owned by the present
Greenback candidate for governor. This
bank lad a capital of 10000, but at one
time they had on hand unsigned bills to the
amount of $780, OO which would be signed
as fast as anybody wanted them. In fact,
the old system of banking was based upon
the personal notes of stockholders. If you
have banks then, what kind will you have
responsible or irresponsible? The national
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