The post. [volume] (Middleburg, Snyder County, Pa.) 1864-1883, 1878-09-19

, ,177,Sl9, or nearly four millions more
than Judge Thurman estimates Va
will save TO the people by issuing
greenbacxs instead Of bank notes.
These taxes would -'' he lost 10 the
United S'n;es sad 10 The States II
the Da' iousl banks were abolished.
f, The notes a"e secw oil beyond per.
adventure, they ere protected from
"oun,e tei'ing FIR no,e successfully
:. by any formed system, aud, to
;.ai;' edit be IL said, not one dol.
6. has be7n lost on any national
opx note ever issued. Wherever
you 60 you may caiiy them with
'fety, without examination a. 10
where or when they we're issuej
They nre good eve; ) where ia The
u led SiG;es.
Seua.or Tim man has stated
some ob;ec ions 20 the naiionel
banks, to w''ich I w b. ..eAy reply
He says;
''ln the 6rst p!oce . nat ione' bank
CT .ency means the i1de6 6,its De, pe.
tu alton Of the public debt"
As national bank ey SITS only for
twenty Yeas flom the date Of its
organization, aud is liable at any
,i,ao by act Of Cong less 10 be aboi.
isben, this does not seem Q very DO.
ieus reason. ] I'm sorry to say that
the prosp; :. Of paying our debt 90
soon as tho E'e Of o nationr' bank 10
not vel :; 4 f'ttsrins, nor ere they like.
ly TO deter its pay ment. As for the
Influence Of these institutions, 90
much fer~c' BY NJ. Thu, man, IL is
not an object Of alarm, for il cannot
be ono ned, or u that were st.
temp d, ;t could DO overthrow a BY
q single wave Of popular opinion.
His second objection TO the ma
tiona' bauk'ng system is that IL
nds to cou.b'ne concentrate sud
! ,tens'f.s the money power"
This 81, is an Elusive fer~.
there is no power in this coort, :
that is 20 weak in politica, mana 20.
ment as what is called the money
power. Il has never been, nor can
IL be, concenf' ated 30 as to affect
politicr questins. The tendency Of
Ou- institutions makes il easy 70
combine at oace politicr' op' ION and
political power against 10.
This nationn' bank c.rcr'at;on is
not q speci'' p .,'ege, but open to
eve ;, association .; five persons that
n ~ be o'gn''-e in my part Of the
w. ed States. To call II q special
? 'sye is absu'J. The scue priv
'ege al yht be grc ,ted to eve, 10.
a d""' c,t'zou Of the United States
bu: e.pe ,ence shows that corpor.
. on is mo-a wsely 81 nir;stered
when it is composed Of . number Of
PERSONS, not less than five, ihau
~hoa IL is coa'ro',ed by q single
person, aud co .'o'a', authority 10 |
rssent''' > PIES so it's e-'stence IA
:sao Of ;he j,'''i 0: Il. partner. But
'or IS he spar''' p '''ese night
,e {. n cd u evsev citizen who
,o- 4 80 the 'e1' size seer ity
'oc 20 :e,,e.np Oh OF The notes is.
,ucI by h'n.
As to rur';ay noueg Into the pockets Of
he sha eholders, this again 10 absurd.
rhs Government pays not6iag snd coutri.
'uies no;biag TO . bank. The shsrehoid, |
~ buy ibe bonds Of the dovsrnment
md deposit them with the Government
or the security Of the stockholders. II
ae bank retires, the bonds belong 10 the
baroholders and no; TO the 0overnment.
lor can the 0ovsrameut pay these bonds +
d any Other way thaa Il could pay the
,onds IN The hands Of individuals.
'ae Gove'oment would pay tho sane In
crest on 'tcse bonus wLc. her held oy the
- al or any c',ixsns, pr in Europe.
TIE reason wy bonds ere demanded
% security 10 because hey are the best
but for this . mo.tSsae securi.
y might be i,ksn. but as the 0ovsrument
ecurity 10 the highest and bsst, this 10
lehsdaed. not for the benefit Of the Gov.
}. sm snt, but fse the aotsaolder. for whom
10 0overument 10 mere trustee. When
he Government pays 10 the bank interest
IN bonds held by II o. . security, Il only
,ays what 10 justly due aud what IL would
ave TO pay st oil events TO suybOdy hold
~ the bonds until they Ars vedee ned.
hovit taaes many millions annually
mt of 'bs poche = Of the people Is hard
. conceive. M o,e oorrows he notes Of
he o7r.u''sxs il Is for his iaterest 70 q,
o Tue ab,,'ts ~ tie bsnh 10 leat 10 o
0n,e fence 10 ihe borrower % well as
he ia ide'. Toe Governmeut cannot Gu.
age in Ills bisiness Of loauing money.
I would be n sorry time for the people
thsr ,bsn pa''tioal strikers II rbe Govern
nent lonne1 money. This Is purely rri.
ate e,splos .pent, thai should DO as FREQ
y, b.ac sn alag. Tae ,i,4s 10 .ssui 4
lo,es L. isee TO al on tle same 'erms, > I'D,
sLco 90 ynHiJed y. 10 prevent loss o the
Ioteholds', is ,,r bea, .'osqiole means O..
rcrsas g the otts VI c.; a.Pg
.O;s,. i
~ q p,.''s zee siJstltu cd fus ma
'opgi X 40 g., e >rys ,hi the Cow
rainent o. It 70 ',as ,'ese noies. The
i.wei Is egM Il the uovernment issuos
EN- 81 NJ ist uiuer,a'e 10 n,aintain them
{ y VIA coia, or else tie people must
ra's. s.ru tho evils Of an iris,,cemable |
- eucy. T,ecost Of this rsdsmption by
10 ,anfs /, Already so g.eat, before sps-
. pay tnen's = have satusliy co no. that this
o c lea special privilege 10 getting 10 be
,ec,al oi.,aea, aad more banks are sur
al circulation than are / x.
ag c':cc.apo,. q iss s?ecisI p,i,.isgs
~ 'a1re seek o Lvoid than 10 acquire.