Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1880-04-03
MR.. WILSON WITHDRAWs FROM THE
BANKERS ASSOCIATION.

MISSOURI BANKERS ASSOCIATION, |
OFFICE OF THE SECRETARY,
LEXINGTON, Mo-, March "a, 80. |
DIR. GEORGE MAIsLAND. Asst. Secreta-
ry American Bankers Association,
New York, N Y.
My Dear Sir-:Your esteemed favor
the 18th inst. received.
Whether have in the past been ac-
tive and jealous IN working fer the re-
peal of the federal tax on deposits, per-
haps no one knows better than yourself.
l have sincerely appreciated the kind
and complimentary words that have
come to me from yourself, and from
many directions in banking cries; and
it is certainly no small compliment even
to be asked to prepare an address to
committee OF congress, in circle of so
much ability as the American Bankers
Association includes
When our bank became a member of
the association, the sntire banking bus
mess OF the country was laborlng under
an almost unprecedented depression.
National banks were declining IN num-
bers and capital, and there was gen.
eral belief that the system would soon
pass away, with the debt, the animss-
tiles, and the other mistortunes lett us
by the war.
But the case is now entirely reversed.
Capital Is eagerly rushing into the ma
tienal system, many new national banks
are organizing. and the profits of some
OF them are unprecedented in the his
tory of banking. Whilst the presses are
busy printing the notes with which they
are Initiating prices and inevitably driv-
ing the country to another panic, con-
demnations OF initiation, by means Of
the same kind of paper issued another
way, are still heard from the national
bank party. The system Is being used
to expel our vast bullion product from
the country on various pretexts, and by
unconstitutional means. in order to give
profit to currency making banks. And
within the past few weeks these banks
have thrswn off the mask, and now
boldly demand the perpetuatlon of the
national debt to furnish them a basis
for issues of currency. . .--.
Mr.. Chase's letter of May 2. 1864, to
the senate finance committee, shows that
the intention was that the tax on ma
tional banks should be o special fund,
along with import duties. to pay the in
terest on the public debt. Ii one be
perpetuated, so ought the ether to be.
am well aware that the tax en- de-
posits comes out of farmers produce in
part. but it is now necessary that the
just suffer with the unjust.
The attempt to perpetuate the nation
al debt is venial compared with another
charge now laid at their doors. In
common with the free portion of the
New York city press, l share the appre-
hension. now general in the country,
caused by the rise of an imperialist par
ty IN American politics. This open at
tempt to overthrow our constitution and
substitute "strong government"
not have been made unless the money
to carry it out had been promised.
NJ patty wnnld prepare for this en-
terprlse IN which the sword must play
a part, without having sure depen-
dencs on somebody's purse. The prom
ise OF the essential material support
must have como from within the national
bank interest, er from foreign sources,
or from both. Fixed IN my belief on
these two points. it is impossible for me
longer to act with the national bankers
AS banker. I intend to join with the
non national bankers in simply
presenting our case to congress, which
separate trem the nationals, is mucE
stronger, and leaving the nationals tu
present theirs.
But as citizen, (and politician te
the extent that every citizen ought t.
be- my plain duty is antagsnism to th'
system. II these two weighty reason'
were absent, l should, in opposing thu
} system, be dong what my banking
/ friends in New York did when Mr.
Chase and fractional congress frs
forced ii on them. With these prese Mt
do net see how any American, true t
his csuntry's constitution. can hesitate
| and, however much | regret the sever
! ance Of pleasant and satisfactory rsla
| tions as members OF the American Bank
ers' Association, there is for mo n
choice. Yours very truly,
GEO. WILSON, Jr.,
t Sec'y Aio. Bankers Assn and Cashie
Lafayette County Bank.