Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-10-16
THURMA "a ToCs1N.
The Democratic Leader, of the Senate o., the
Late Etections--The Currency Question,
the Mais, Issue of the Future--Nati0saZ
Banks.


the Mats. Issue of the Fs1t4re--National
Banks.
Interview in Cincinnati ENQUIRER.
Commissioners Senator, do you feel dis
couraged by the result of the Ohio election?
Senator Thurman Mot In the least I
hoped for better result, but was prepared
for worse one. This is the first year in
which the issue between the people and the
National banks was sharply defined, and put
all other issues almost out of sight 1 was
on the stump about six weeks, and spoke in
nearly every section of Ohio, and every
where found that no other question so
much interested the people. The Demo-
Gratis were naturally indignant at being rob-
bed of the Presidency by the returning
board frauds of 1876, but the most eloquent
denunciations of that stupendous crime
against popular institutions seemed to in
terest them less than calm, fair and truth
full discussion of the currency question.
Then the contrast between Democratic
economy and Republican ex-
travagance in the administration of the
federal government, which, under ordinary
circumstances, would have inevitably de-
feated the Republican party, had but little
effect, compared with that produced by the
issue. between the people and the banks.
The corruption that in the last thirteen
nation ought to have been sufficient to over
throw the Republican party, but the minds
of the people were preoccupied by the cur
rency question, and they took but little in
terest in any other. Questions of political
economy or monetary science would seem to
be dry themes for discussion before popu-
lar audience, and yet no other themes excit-
ed SO much interest.
Commissioner If you are right in what
you have said, Senator, does it not follow
that we are beaten on the currency question?
Senator T.-Not at all. Instead of being
weekend by our PLATFORM mean the plat
form of the last State convention-we were
greatly strengthened by it. Had we faltered
on this question we would have been beaten
far worse. But why talk about being beat
en-? Add the vote of the Nationals to that
of the Democrats, and is not the Republi-
can or national bank party in minority of
thousands in the State? Yes, tens of thous-
ands. And then remember how the Repnb-
lican candidates and orators lodged and pre-
varicated. Remember how Mr. Secretary
Sherman announced that he was in favor of
keeping in circulation $780, 900 of green
backs, or at least as many as could be kept
at par with COMA declaration that has
brought upon his head the severest denunci-
tons of the bank advocates in the East.
Look at the speech Of Mr.. Eos
ter, at Springfield. I have no
copy of it, but, if my memory is not at
fault, he declared himself in favor of keep
ing in circulation all the greenbacks now
outstanding 100000. When was at
Canton 1 was told that the friends of Nc
Kinley claimed that he was as good Green
back man as General Wiley, the Democratic
candidate. don't know what foundation
there was for the assertion; but am con-
WINGED that that assertion was produced and
that it helped to defeat one of the best men
and one of the bravest soldiers that Ohio
has produced. Was not General Warner
everywhere met by the record Of Van
Worries, in opposition to the demands of the
capitalists and bankers of the East? And
have you overlooked that precious piece of
spread-eagle oratory of Judge West,
extolling the greenback, that stood at
the head of the Ohio State Journal for
weeks in italics? Why, sir, I tell you that
the Republican candidates and orators, with
some exceptions, did all they could to dodge
the issue. But the national banks were not
deceived. They knew they were in a life and
death struggle, and they fought for self
preservation. They and the hundred thous-
and federal Office holders supplied the sin
ews of war to the Republican committee
and the consequence was that never before in
Ohio was there so corrupt use of money in
an election. Mark it, do not say that the
banks in their corporate capacity furnished
money, but their shareholders and depend
ents did. It was not to be ex-
pected that SO tremendous and rami-
fed combination as that of the ma
tional banks could be assailed by the Demo
cratic party without our losing at the onset
some votes. Remember the assertions from
the Democratic party when jackson vetoed
the bill to recharter the old national bank,
but in the end the loses were far more than
compensated by our gains from the ranks of
the opposition. And so it will be again.
The antagonism between the Democracy and
the national bank system was inevitable, It
is what Seward would have called an ire
pressible conflict. With its power of expan-
sion, the national bank system if perpetual
ed, may, in comparatively brief period.
treble or quadruple its number of banks,
and practically WELD by far the greater por-
ton of the active capital of the country.
And who then would rule, the banks or the
people? find fault with no man for
being national banker. 1 would
not say a word to create prejudice against
him as an individual. He is engaged in a
business that the law sanctions, but it does
not follow that because he is an upright citi-
izen the unjust and dangerous system, of
which he is a part, should be perpetuated
1t will take time for the people to fully un-
derstand and form correct judgment upon
this question. 1t is true that financial and
currency matters have been much discussed
for several years; but until this year the dis
cusslon was SO much marred and obscured
by extravaganza and wild theories that the
real point of controversy was almost lost
sight Of Now that point is clear.
It is square fight between the
people and the banks, and every days
discussion will make it more and more
plain that we have the right side of the
question. Over two thousand national
banks, welding $780, 100000 of capital, over
$300,OO0,000 currency and $7OO,0OO,OOO or
$SOO,OOO, 900 of deposits, and supported by
great political party in power, and using
the immense patronage of the government
to retain its dominion, is formidable foe
to attack, but the attack will, nevertheless,
in the end, prove successful.
Commissioner-What do you think of the
third party-the Nationals?
Senator TIT contains many good men,
some bad men, and not few misguided
men. The idea that it can absorb the Dem
ocratic party, or the Republican party, or
draw enough from them both to become the
dominant party, is fallacious. In a country
OF free institutions there never has been,
and there never will be, but two great per
manent parties, the one party of privileges
created by law. and the other a party of