New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-27

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reason sorry say that the prosper OF paying
debt as the life OF National bank very
the influence Of these institutions so much ieaeu oy
Mr. Thurman IL is not object OF alarm, Tor II cannot
be combined that attempted II could DC over
thrown by single wave Of popular oPlnopp .,ts, q
chat IL tends 70 combine concentrate and intensity te
| money pOwerD This again Is an Elusive fear There Is
no power in this country that is weak IN pOtea na
| ageneut as what is called the money power: " never
has been be concentrated so as 10 anect R
questions The tendency Of our institutions makes
combine at once political opinion ana Poiuo"
Party organization is infinitely more powerful for
combination than the money power. MY own @ SaS
IN once enables me 70 say ina ierent opinons while
| party organization brings even Judge 1bum"h anu
Nor Is ID true as stated by Judge Thurman, that the
legislation Of Congress favored the money interest
this easatiop was guided by the love Of national
unity and national honor ana natOnai ,oe,ei
abroad aud single question has 1t favored "ha' 10
T6o vital issue between the two great parties has been
on the part OF Republicans, desire TO @
enHaI n9ltical and civil rights to all to maintain
tie national honor, and 10 advance the I; -
Ter o. 199 SaTy has Seen to bette the National
Government 10 subordinate ~ 10 inc IOnSoi tthouI
States TO preserve slavery, to leave industry Mn1r
protection and support, and 10 secuOnalse into Pes
communities the elements OF great anu h tbe
nation and these now and VIII pc IN inc lu'r0 III"
inevitable tendencies Of those two parties National
The third objection stated oS i h az pryeso and
takes many millions out OF the pockets OF the people,
BANKS ENJOY NO SPECIAL PRIVILEGES
This again is untrue point OF fact and ihogca
argument The National bank circulation Is not
special privilege but is open 10 every association OF
Ave persons that may be organized in any part Of the
United States To call it special privilege Is absurd
The same privilege might granted to every individual
citizen of the United States but experience shows that
a corporation is more wisely administered When II Is
composed Of number OF persons not less than hVe thah
when IT s controlled by single person, and corporate
90, ffa axfgf
the death of partner. But for this, the speca pIiN
lege might be granted TO every citizen VINO couu gNo
the requisite security ior the redemption u '"o N0''
AS TO putting money into the pockets Of the share,
holders. this again is absurd The Government pays
nothing and contributes nothing to bank Inc snare
holders buy the bonds OF the Government ana uepo5
them with the Government for the security OF the noe
holders If the bank rotres, the bonds belong 10 INC
shareholders and not to the GoVero t oy ' than n
could pay the bonds In the hands OF individuals 11e
government would pay the interest these bonds
whether held by the bank or by any citizens or IN
Europe. The why bonds are uenlahneu
as security is because they the best security but
for mis- mortgage security personal security might
Dc taken, but the Government security Is he %
and best, this IS demanded not lOr the poe1 ~ SH
Government but for the note-noldeT ior whom tie %
eminent is mere trustee. Nheh tne W.
the bank interest on bonds hed Dy u as
only pays what Is justly due and what u W0ulu nav
pay at all events 10 anybody h9ldng inc nUnus nil
they redeemed How IL taxes mShy b ~
hons annually out OF the pockets OF the people - hau
conceive. No one Oor0Ws the notes OF tie 10 ,s
less IL is Tor his interest TO 40 SO. inc aDS V as
bank to lend convenience to the borrower as wen az
HE
people other than political striker, IL the Government
poyment that should be free as backsmithlng Inc
right issue notes is free 70 all on the Same terms anu
when guarded TO prevent loss 10 Tue hOteoIuV
the best possible means OF increasing the amount Vi
He saws that the Government ought to issue these
notes The answer Is that # the Government issues
ten IL must undertake TO maintain them at par WIN
COIN or else the people must suffer from the ets Oh az
irredeemable currency The cost OF TINS redemption W
the banks is already great before specie payments
is getting be special burden, ana more pdnhs az
surrendering their circulation than are taking ccu
lauon. IL is special privilege that more seeA
avoid than to acquire Judge thurman ~ ipSncd
how much the Uuited States would save II ~ lssu.I t
1922 100000 more Of greenbaeks anu redeemed tnat
amount of bonds do not stop 70 etaaJ az siis 49,
100000 Why not save the entire interest OF le PTDhc
moi re4diae It az once That would. according 10 ms
com phi alton save entire interest OF the uOhc dent
or $930Q00OO' with no other JOSS tn"n inc io'' VI
WHAT Mr.. THURMAN PROPOSES.
He proposes 10 issue more notes without any provision
for their payment when revenues are ample to meet
oUr expenditure, in time Of profound peace, Wnen
there is no motive Of pBtnotsm duty or safety TO I'M
pe such course and tins merely to save the interest OF
4 Del cent on $322,OOO,0OO But this very act II
adopted would prevent our selling SlOOOOOO'OOO OF 4
per cent bonds with WHICH TO pay an equal amount OF
per cent bonds and in this work an annual loss to the
;Oytrnmeut OF $4,000 600, or SS,OOOOOO year more
than the entire pretended saving Dy his proposed pOcy
AGAIN, what moral right has the Government OF the
ned states require IT, citizens to take IT'S notes as
money and standard Of value merely Tor the purpose
saving the interest on these oonlSi In the Oh wal
legal or moral foundation Tor such claim unless the
uoies are maintained at and redeemed az par. Is
not the United States able TO pay the interest OF us
hottest
DEMOCRATIC CONSPIRACY IN LOUISIANA.
As TO Louisiana, / had better OF information
tbau Judge Thurman and say to that tho criminal
conspiracy by the Democratic party OF that State TO con
troll the election OF 1876 TO cast the vote OF that
state for Governor Tden has never been fully told 1t
extended 70 than ten parishes or counties AND held
in absolute five Republican parishes that had al
ways since the given about 1000 RepuD-
ucan majority II led TO and included Its plan and
scope scores of Republicans white and black
manly intelligent black leaders OF Their race IL WOMB
cd whipped and manned others drove hundreds 10 the
sWsmU night spread universal terror among THIS
ignorant and suspicious people, VINO had the same esa
right ana better moral right 10 vote Than Their pcIse
cntors whose hands only recently red with the
blood shed Ia against tho Union Inc CHOSEN agents
OF TINS nfamY Democratic rifle clubs, iuiy armed
marching night in disguise, distributing anonymous
threats occasionally executing theu ana leaving
notices. 10 leave tne parish with the Intelligent ac-
companed with threats and devices 10 excite rear ana
terror. Such we're tho means used BY the Democratic
parry 70 carry louisiana They may here ana there ln
duce disappointed Ohice-seeker ike Anderson and
Weber 20 tasfy their IOmef Oatls ana even PIelAl
upon poor negroes Ike Amy Mitchell and Mrs Pinkston
10 withdraw their former deposOns but inc scores OF
dead killed by the rtie clubs speak from their
graves. and tue mcn who Killed lheln ana fooe theH
nightly rides of terror know now IA their hearts mat al
that has been SAID OF them Is ttue lHe 70
adayIs made by THESE people Wete supnstou " vne
local returning officers selected by the State LEGISLATURE
!
natives Of the South, ana these men, VINO knew the
surroundings ana many OF tne acls, decdeu IN stilct
compliance with law OF that State that under TINS
law tese parishes aud polling places must be excluded
and II was Thus Governor Hayes S0t the vote OF
Louisiana as lawfully and fully as that Of ONO All this
err of fraud and usurpaOn ought in the minds OF just
men, 10 react fearful effect against tne Democratic
party for their organized crime ana Yoience That
created the which the Returning Board and Elee
toial Commission decided 10 our favor
TIE DEMOCRACY RELIES or SECTIONAL FEELING.
Again lie says:
"Felow-ctzens, nothing in politics seems more
tain 20 me than that the Republican leaders rest their
hopes Of rolongaOn OF their power upon the success
that may attend studied and energetic effort their