Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1881-03-25

s0SS~
councils. There is no
escape sfd that the Republican
party is I'd [onsible for the defeat Of the
funding bill, and, therefore, for the extra
session Of Congress which it will necessi-
tate - t-t esq"
Great capital Was attempted to be made
by the Republicans during the last cam
paign out of the fact that the Democratic
Congress, at the last session. had, by it,
refusal to vote tho peoples money to pay
the Federal deputy marshaAs for their ne
farious work, brought absut IN extra SEES
sion. Nothing was said about the obsti-
macy of Mr.. Hsyss that csntributsd to
that result. It is the opinion of many
that this argument. had much weight in
If it is true that the popular verdict in
the late Presidential election was consid-
erably influenced by this action of the
Democrats, what will be the judgment Of
the people upon the action Of the Rspub-
licans, which has necessitated the coming
extra session By what arguments can
they attempt to justify their action in de
teating the funding bill, without bringing
prominently before the public mind some
damaging features OF their par!y's past
most pernicisus class legislationf The
sole ground taken by Nj. Hayes - warrant
ing his veto. of the bill, was that the fifth
section. by requiring the National Bsnks
to deposit the three per cent: bonds pro-
vided for in the act as basis of their cir
culation would endangsr he financial
safety Of the. country. The National
Bank. had protested vigorously against
this, preferring Of course, to receive Jsse
and .ir or even three and . haf per ceat
interest on the basis Of their circulation,
than three per cent, and. therefore, used
all their great influence to defeat the bill.
They threatened to deposit in the Trsas-
ury gold and greenbacks, in lieu Of the
bonds which constitute the basis Of their
circulation, A. by existing law they are
empowered to do, and thus diminish the
quantity OF money in circulation to an
alarming extent and precipitats upon the
country a financial panic. Vas solely
upon thsse arguments that Mr.. Hayes at
tempted to justify his actisn in veto'ng
the funding bill, and these were the
grounds upon which Mr.. Garfield in his
inaugural address attempted Indirectly
to excuse Mr.. Hayes's action. or
1t is not generally believed that there
was any real danger to be apprehended
from this source. It 10 believed that this
was merely threat on the part Of the
Banks, by which they sought, first, to in
timidate Congress, and, more lattsrly, to
influence Mr.. Hayes. Although they had
already carried their threat in execution
to an inconsiderable extent, it is believed
this WINS merely done for effect; and that,
had the measure become law, they would
not have dared to have incurred the
odium which sncb action would have Gre
ated against them in the minds OF the
people.
But if there was real dangerto be appre-
hsnded from that source, from what did
that danger RESULT When the party Of
'.grsat moral ideas" comes before the peo-
pie 1t the next election to justify the ex-
ira session, how will they explain the leg
islation that plscsd in the hands of thess
gigantic nonied cerporations the power
to precipitats . panic upon the country
at any time that their greed or their arsi-
: trary will may suggest ita How will they
justify the laws that invested these soul
less corporations with absolute power to
continue upon the people, At their pleas
ure, the onerous burden of high rate
bonds, which inure directly to the advan-
tage OF these corporations 1t was GER
. tsinly bad enoughto giant them the right
to base their circulation upon interest
bearing bends at all. This was an unpre-
cedented franchise. It has always i'm
pressed us that, of the various absurditiea
that 90 to make up the creed OF the
"Greenbacksrs," their protest against the
right, Of these Banks t. receive interest On
the basis of their circulation was fully jus
tilted. }aa 3usgera bass .~f
1t will be hard enough for them, when
the pnblic mind is fully svaksned 70 this
question, to exculpate themselves from the
guilt Of cenferring such an extraordinary
franchise upon the monisd class at will,
but hsw will they justify the right they
gave them to reduce the current money
Of the country, at any day, to the. full OK
tent of the whole circulation q their hottest
What was the necessity for ~ Would
not this monisd aristocrscyha accepted
this most liberal ffsnchise Without the
further power to ceerce the Federal Gov
.rrmont ond ;ut;mi6afe Couureaa from