The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1879-11-14
VOL. %.
BLAINE ON GOOD MONEY.

BLAINE ON GOOD MUNEI.
From his New York speech
Mr. Chairman, / am quite willing TO
admit-and am not going to infiIct u
discussion of banking upon you'll am
quite willing TO admit that whatever de-
feet there is, if defect there be, in the
national banking system, is chargeable
TO the Republican party, and only ask
in the debit and credit of fair political
ledger, that whatever of merit there may
be, may be credited to their account.
Applause. When the war broke out,
we had thirty three kinds Of paper cur
rency in this country, with the territor-
les to hear FROM Laughter. Some
was bad, some was good and some was
indifferent. Laughter.l In New York,
you had a good paper currency; II was
secured in a certain form, and was in q
certain other form the forerunner Of the
national system. We thought we had a
good system in New England, called the
Suffolk bank system We thought we
enjoyed il down in Maine, and yet regu-
larry with great periOdicity, which
beat the equinoctial storm, these banks
would turn up defunct. l remember
perfectly well, Us if 1t were but yesterday,
on pleasant summer morning, in 1858,
that large bank in Maine, known as the
Shipbuilder's bank, was announced as
having failed, with 1857 600 of circula-
ton out-and il is out yet. Laughter
That was a good thing about the old
State bank, that when il failed il made q
clean thing of il. Laughter.l You re-
member before the war, there was story
current in the papers OF q celebrated cor
oner's inquest that was held on the body
of negro boy in Virginia. They have
quit holding coroner's inquests on ne
i I'll, h0rN ehAn fhaNy ho6 vol
ue and an inquest was held on this negro
boy. He was found in u swamp, and all
that was lef. of him was his skin, and
after hearing testimony for three days,
they unanimously returned verdict
Found empty"-[laughter, and that
was the verdict on all the old state banks
that failed, and over twenty years from
the time Washington was inaugurated
down to Lincoln-Over twenty years
the state bank circulation in this coun-
try was wiped out and lost, and il was
not the banks that lost 1t either; it was
the bill holders among the people.
Andrew jackson goes down to history
for his heroic resistance, and his ufti-
mate destruction, of the great monopoly
known as the United States bank. Now,
it is said that honest confessions are
good for the soul. Whatever politics
have, l inherited originally from the
WING side of the house (applause), and
yet / believe in the imperial verdict of
history, that the American people be-
lieve to-day, and will still more come to
believe, that in that great contest be-
tween Jackson and the United States
bank, Jackson was right and the wings
were wrong (applause), on this simple
-ground-that the congress of the United
States ought not and should not give to
- Inor
of banking over the above any other set
of men. (Applause) And therefore
Jackson crushed it. But the time had not
arrived, the opportunity had not yet
come, for jackson to seize hold of the
state banks. 1t would be rash man
who would say that Jackson had not
the courage TO seize hold. he had
courage enough for anything, but the
time had not yet come, and there never
did GENE the time when courage and
opportunity fell together until the Re
publican party came into power, and
the Republican party was the first party
that ever had the courage to take the old
state bank system by the napc of the
neck and hold it over the gulf of finan-
cial perdition and let it drop. Laugh
ter But they did, and they said that
hereafter in this country there should be
no special charters; they said that here
after in this country whatever money
there was should be national, and should
not be limited or defined by state lines.
| TApplause In the old times, | could
not have travelled in ten states rs l have
| lately done, without swapping of my
money ten times, and if man appeared
down in Maine at any time before the
war, and offered an Ohio bill or an Hi
nois bill to q merchant, the first thing
the merchant would have done would
have been to look ut his HC0upterfeit
Detector," and then send for the consta-
BILE, on the evident presumption that the
man had evidently been engaged In
robbing a bank or was offering coun-
teFfsit money. But the Republican
party put an end 10 that; they said that
money should be national. and when they
came to establish banking system they
SAID that two things should distinguish
it; in the first place, IL should be Just aS
free to one man in the United States AZ
TO another, and that no one man should
have particle of advantage over another
man. IApplause. / made this state
ment in Il public meeting little while
ago, and Greenbacker jumped up, very
ready, us the Greenbackers were EefQFt
election. "Well," says, he 'you can no
bank without bonds" "Well," says
| uOCS thhi COupttbutC tAAC hAOhOt(Oly II
national bankingS" "Why, certainly
says he; You cOnfine IL 10 the fellow,
that haye got the bonds" Said /: "DiC
it ever occur To you that farming in thi!
country was monopoly" why, Ger
:, family not" said he. well" said I, ii
Is entirely confined to the fellows tina
have got the land. Applause and laugh
ter. You eAn not farm up in balloon
nor out at sea In - buat." The Republi
can party said that banking should b'
open to all alike, and To all ON the same
terms.
And then the Republican party, speak
ing through the instrumentality OF ma
uonal legislation, said this other grea
thing; that while banging should b.
open To everybody on precisely the sam;
terms, yet that nobody should issue 1
solitary dollar of United States money
until he had put up one dollar of United
States bonds for every bill, and theT
they might go if they choose and destroy
their banksS then they might go anC
misconduct themselves, and when they
did, and their banks, in the strong Ian
guage of the boys. bust, the nation would
step forward and sell their bonds anC
take care of the innocent third party
\ which is the people. And from that day
} Mr. Chairman-I beg your attention n:
merchants Of New Yurk-frOm that day
there has been no bad money in the ma
ton. [Applause.l tbs Republican par
ty abolished bad money, and from tina
} day forward, whatever money has beer
7 issued has been issued under the imag'
n and the superscrIption of Cesar.
T The C02TRACToRs.-The suspension
of work on the state house will have NJ
L