The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-02-07
The Antl-AlonoPol1st.
GENERAL BUTLERoN THE BANKS

/ GENERAL BUTLER ON THE BANKS
General Butler, how do you view
the action Of the banks in making a
combination to put the banks on a
gold basis in case Congress should
remonetize silver 2"
General Butler-''If / understand
what the banks are about. and l have
no knowledge except what l see in the
newspapers. they are making a con-
federation or combination. Unchari-
table persons might call it
A CONSPIRACY
control the currency and the
finances of the country, in opposition
to law of Congress which they think
is likely to pass. That is, they threat
en- to put themselves in a position to
nullify the law of Congress making
the silver dollar a legal tender. Eth
er to threaten this or to do it seems
to me to be marvelously unwise. The
threat is improper as we'll, and the do
ing of it will provoke a contest in
which
THE BANKS WILL GET A LESSON
Which will last them an entire gener-
alton, as the United States bank got a
lesson which lasted it until this gen.
Grafton. Whatever individuals may
do, in attempting to put busin ess on a
gold basis in defiance of law of Con-
gress, need not now be taken into ac-
count. But when the banks, the crea-
lures of Congressional legislation, set
themselves up against their creator,
''THERE Is A VERY sHORT' WAY OF
DEALING WITH THEM.
''To-wit: the power that made them
can and ought to unmake them. Con-
gress chartered, Congress can unchar-
ter; and in my judgement it would be
a duty of Congress to take away the
charter of any bank or banks that en-
ter into any combination to nullify
the laws of Congress. If, as is admit
ted there is an absolute majority in
both Houses in favor of silver cur
rency, and as it is also admitted the
Constitution has placed within the
jurisdiction of the two Houses
1.-THE RIGHT TO COIN MONEY
''And regulate the value thereof.
then that majOrity, acting within its
constitutional power, will not permit
any set of men for their own love of
gain to nullify that or any other law
of Congress. It will be remembered
that in the contest with the United
States bank the President and the
House of Representative were alone
in accord, the Senate being against
the majority of both Houses are in ac-
cord; and the President is where he
will find himself to be when the ques-
ton comes before him-where that is
| do not know.
THE QUESTION OF QUALIFICATION.
But, 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 bea wide
spread one. The extent of the con-
spiracy is only Il reason for the swifter
punishment of it, and the more ener-
getlc measures to break it down.
For these reasons | can see nothing
more unwise than the reported faction
of the banks. If they go on with it
''THEY WILL PROVOKE A STORM THAT
WILL SWEEP THEM OUT OF EXIST
ENCE.
"And | trust never to hear any more
of it. | wonder that in all the papers
which have reported their actions this
view has not been limited; and / would
suggest that the question for the next
financial debating club. called Board
of Trade. or a Convention of Bank
ers'-if there is any body there to rep
resent more than one side Xof the
questionable next question discussed
shall be:
WHAT WILL BECOME OF THE BANKS,
IF they attempt to set themselves
up in form-as there is very strong
prevailing opinion that they have in
fact-against the will and interests of
a majority of the people in this coun.
tryl'