Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1882-12-28

can party for
THE NATIONAL FL
NANCES.
This has been done in various ways,
as we have seen, by the establishment
of National Banking system founded
on the national debt-the more debt
the more banking, and the longer the
debt remains unpaid tne longer the
banks will stand aud the better the
chance to speculate when a financial
crash would come. The same result
arises from the crippling of the re-
sources of the nation by the Homestead
Bill and the demonetization of silver.
Added to this, the positive dishonesty
of rushing into such system of public
improvements at such figures as was
introduced after the war when the
country was SO fearfully in debt, there
by diverting the resources Of the ma
ton from the payment of its debt, and
SO perpetuating the burdens of the
people, who are prepared to deny
themselves and work hard to pay
their national debts, but when they
see the fruits of their labor and self
denial perverted and prostrated, they
become restive.
National Banking is an anomaly in
our history. The authorities in regard
to it stand thus: 10 1871, 1916, 1882, 1862
and 1882 Congress passed acts in its fa-
vor. In 1911 Congress rejected bill
for re-charter. Presidents Washing
ton, John Adams, Madison, John @.
Adams, Lincoln and Arthur were ia
vorable to it; Presidents jackson and
Tyler opposed it.
The Supreme Court has decided that
Congress has the power to establish a
National Bank. Its constitutionality
has been settled as far as it can be by
decisions, precedent and authority; and
yet both its constitutionality and ex-
pediency have been always held to be
questions open for discussion before the
ultimate tribunal of public opinion; and
it is very significant fact that when
| ever the people have been able to reach
it, they have been hostile to it. 1t is
| the deliberately framed and solemnIy
| recorded Judgment of the American
people that, whatever may be the
critical rights of National Bank un-
der the Constitution, in practice it has
always been found to be a disturbing
factor in national finance. an obstacle
to the exercise of the inalienable right
of the people to stand face to face with
the Government, which is the creation
of their will.
The power of Congress to charter q
National Bank has always been dis.
puted by minority stronger in intel
lect than numbers, and it covers a
ground on which the people will yet
go behind the whole machinery OF
government and amend the Constitu.
ton so as to deprive Congress of the
power to charter bank. There never
has been in the history of our country
a time more favorable than the present
to move in that matter.
The action of the late session of Con.
gress in re-chartering the system o
banking for twenty years, was nc
trifling factor in the late upheaval
Of course no political party wishes te
hear of this, as they have all plowed
with that heifer.
But the American people prefers an.
other charge against the Republican
Iparty for
UNsETTLING THE RESULTS OF THF
| WAR.
Scarcely had the sound of cannon
J died out in the country when the Re
: publican party turned aside from adj
Ijusting national difficulties to crafty
personal spleen by impeaching Presi
dent Johnson. We know we are or
delicate ground, but it is part of the
history of the case. The law thai
made U. S. Grant General virtually
a receiver. The war had swallowed
up all other considerations and concen
trated all power in the hands of the
President, who was, nominally, Com
4
of the United States, but General Gram
had really all the power.
The great problem to be solved a
the end of the war was two-fold: First
to transfer to the civil statute book o
the country the results of the wal
arising from military DEGREES; and sec
ond, to recover to the civil power
those extraordinary rights which The
WAR had conferred on the military
With General Grant, the true military
head of the nation, there was no trouble
In 30 far as he was concerned ever,
power belonging to the civil govern
ment was reinstated as promptly a
possible. With President Johnson /
was not so much so. He was reaction
ary. In case Lincoln had survived, i
l ic not oI.ar that vy, xur,,I.l ,,rf l,,1,