, 1879-08-02

shoutl be uAcd. Il Is all that tnnkca tic Na4
ttonal bank-tiotc Of to-day any better than the
pledge nj the tloycrn,nent bel.i,.i thc National
bnnk.n0to TINT gives conAienec, and not the
promise uf tlsr bunk.
=, eal That voald not favor the repeal OF tho
National. Hank law at prcsent, because It would
deranrc the business OF the co,,otry by calling
10 all It's loans and discounts; and that tha ~.
ten ot doing business could mt be snddtHlu
changed. Without injury. Il should be changed,
anu the Government nh0t1d issue the paper OF
tho country Just a. much % II should con the
spccio used, or Tx The STANDARD Of weights and
measures
stated That It should 10 the policy Of the
Government to stimulate the enterprise OF Ia
citizens. stated that It was difficult 10 say
direction; tint aome thtnss were settled and
agreed to BY all parlics, and ttat other thlngs
wcre In DISPUTE. But In matters of finance, I
felt sure that It was The province and duty u
Tie Govsfpnent 10 regulate, not only the colin
~ of the paoe: money % d 'o tho s county,; y:
and that would rather trust The Congress oi
tho United States than the Nat!ona'.oankcrs.
II this Ia FtdsE5n, hope those who arc opposed
to It may make The tnoot Of It.
nptlte that yuu make me Aay that there was
two billtone Of currency ~ circulation during
the war. What did eay, Ia rcpIy to q uues-
tlon BY one 81 the COMMITTEE. was, tint, II Wc
- pCt kGALf A|sA OOlns 44lA IiHCE uNptE kUUtluSl
tlias did in fact pass A. money, i would atnount
to enc billion eight hundred r,illion upllars.
did ssy HAT would lsayo 10 Congress the
question OF regulating ue amount OF currency
that should ba tshucd. We have done thts tor
the uaat attren years; but think tl,ey have
etre4 Id u1c!r rt,,irse, by contracting the cur
rcncy M they havo done, which unnecessarily
produced great tisseresa throughout the cutire
country. They were led Into thus by the moneyetl
power, but ihat would sull rather trust the
Congress Of tie United States tt,an The bankers.
stated to the Cpmmfttes that would ven
ture o prediction Ut the future; atEl that waz.
that tbesa same men that wanted to hare bank.
ing free would Infinite the currency III the next
five years more than Congress had sser done,
or that It could be Induced tu do. That uicsG
men mean that ali transactions OF tie country
shBlt pay tribute to the banke; that there must
not tie inonsy, except bd,N-not<s, which meaua
that corporate cro1N efatt be used to nuke the
exchanges ot the country, and not Gov
erntnent credit II means that tie
bankers shall contract the currancy when
they please, and fnfdte 1t when they
please. The only error made By Congress tln
my tudRlnent) IN regard to the coinaRc, aid
also The issuc Of paper has been In this matter Of
limiting the oIe and In the contraction Of e other.
What the country needcd Ut ihe close OF tho
War was to let Il gradually grow up 10 the
stalltlatd used.
did say thAt the measure Of every couutry'a
commerce wna mcasurtd by tic amount paid
Tor fnbur; a,lu That, II country paid !ts Inbur
only 10 cerlts per day, the exchanges uf the
country. wien measured by duIIurs, would be
one,ttnM what It would bu II the laborer received
81 per day. VAN Il. nl0Gias,