Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1882-01-28
} depositing per cent. ponds. and how
doa, ll,ol<.

l
Making ...... - .............!...... Is, so
Loanable capital. $71. 800. at 6 pc
cent which is the lowest amount; and
the state Of Missouri they get 10 an
never below per cent. Fitting it at
per rent. and tho amount would be 81,
300 not rec :ipts.
The capita, loaned direct, 100000 a
6per cent, would yield Sc. .0O0., being
difference IN favor of circulation OF 81.
309. We proposed in tina; bill to iunt
this debt at per cent. Now. l will
give the calculation at per cent. ant
see how much 1t leIt these nationa
banks, and see II the reason given hy III,
president was the real reason for vetoin:
that bill.
BANK DEPosrTING PER CENT BONDS
Int. on 100000 bond. at per cent. s3, 90
Circulation isssrl-tl IN bonds -. $50 900
Add capital not invested III bonds. H.tOO
Total ::................... lo4 go @
Loanuble capital -. .... ....... 90. 500
Interest on sss. 800 al per cent. .......... 81
Total inter-s. received ved......... s,97
Deduct par cent tax ............ 900
Deduct Cost ut redemption 81
| Net receipts -. ............ 7 9S
Loaned direct. sio0 0.oo3. at 9 per cent. 800
Difference IN favor Q! circulation. -. l.9s
Or $3.50 In iavo'of u per Cent bond
This is calculation made and EN-
braced in the speech of Hon. John G
Carlisle, who originally offered thi
amendment which offered yesterday te
the senate. have gone over that Ca Gu
'alioa. and l c!iailen2e q any gentleman to
criticlse it or prove that it is MT correct
say there is $3.50 In favor uf a 8 pei
cent. bond sucn AS Was offered the ma
tional banIs at the last session OF con
gress; yet we were told we we're rob
bing the BANKS; and we were also tolG
we had 10 power 20 pass the bill. and
this in the decision of the supreme cour
IN aicCulloch VS. The State OF Maryland
All these propositions aud statements
were false, and come now to the real
ylst of this whole matter.
We stand to day in .he face OF the most
serious problem in finance ever prese ut.
ed to an American statesman. The
time has come when we mast Join issue
rs to whether the debt of this country
shall be perpetual. or whether the peo-
pie shall be relieved OF the burdens in
hicted upon them by the war. There is
no escape from the proposition; one
thing or the other must be done. I: is
nota question of funding 5000, 900, 900.
That is not the real obJect; say il re.
specially to the senator from Ohio He
is one OF The financial leaders of the
country, who Knows too we'll that the
time has come when we must determine
the question whether this debt IL to be
perpetual or not. The real II, aning of
funding this debt is, that the national
debt shall be este perpetual. and with it
the national banks, Tor the national
banks are based upon the national debt.
Take away the national debt and you
destroy the national bsnks; and You
hear now everywhere in the republican
press, "Do not pay the bones; we are
paying them too last; do not let the peo.
pie pay Keep upon them this enormou,
burden Ut Indebtedness"
Why? That the na ional banks may
be Kept in existence-that and that
alone. lestertlayAhe senator from New
Jersey, Mr.. McPherson] after an elo-
Quent tribute to The national banking
systed., alter he had put that system in
place OF the Deity itself, 10 lieu OF tue
sunshine and the rain and the dew-aiter
he had done this, he said national dsbt
Is y nstional curs'; it Is curse to the
Industries OF the people. ask that SEN
st r now il the national banks were not
established on the na O,.al debt, and
ask him what be proposes 10 do W. til
them alter this national debt, which ia a
"A Sl,u1l hA ,s,s,,
What is the basis 0f the nxtiona. banks
How does the senator tecoDclle the two
pr"posllionsP You might as we'll put
together IRE and water, YOU might rs
Well put together the iOpd that sustains
lite aud the poison that d stroys it, as
to tell ,no that You eau pay tie national
debt and get rid of the NATIONAL banks.
There IS the secret OF this contest; there
Is the real germ and essencs oi the bat
tle now golnx on. Fur one array NV.
sell now. as have always dsne. ag inst
the aggregated capital which has seized
the lnt' rests Ot this country BY the
throat and now proposes to ride on to
enormous wealth through the coming
ages until the eud ot time. Whv. SIR. II
this debt is'tu continued now, when
Is 1t to .topP Doyou think the national
banks. strengthened by age. strength.
e.ed by money, with more stock holders,
with an unlimited power OF perpeluat,pg
themselves according to law, Tor capi.
talists can es ablish JUST as many as
they have money to buy the bonds of
the country with do you think the time
Will ever cOnie when they will surren.
der their chartersP w, en-, then, will
faka q xu h<,h hoo oia . q
Mr.. President, the issue is upon us
the question Is presen,e ed to The con.
gress ol the United States. will you pay
his debt, or will you perpetuate the
debt and perpetuate the national. bank
system with ilp Now. sir. what do
these banks cost the people of the United
Sta.esP l beg the attention OF gentle
men, especially of my friend from New
jersey, to what he proposes for the peo.
Pile ot the United States in all the future
II his proposition is correct that the ma.
tional banks are great national bless
ing.
Mr.. McPherson. Will it interrupt the
senator it should ask a question at
this time?
Mr.. Vest. No sir.
Mr.. Mcpherson. will in connection
with the question SIMPLY askstbe SEN
ator to read from the context the state.
nsnt which l maize, and perhaps that
Will be all the answer required
Mr.. Vest. think stated the propo.
sition OF the senator. l will read bis
exact words:
IA national debt is a never-satisfled
sponge, forever absorbing and always
eating up the substance OF the people
u is curse, the prolongatiou Of whick
''yond a reasonable period OF payment
would be as utterly iudeiensible a. any
'tfort 10 force its immediate liquidation
oy onerons taxation would be unneces-
larry and unjust. As the ra'io of our
population increases the ratio of the |
burden decrea.es. We have reduced |
he debt to sum aud to q condition of |
public credit which relieves 1t from any |
lesessltv OF becoming either oppressive !
,r durable"
l lndorse every word Of that; but I
.sk the senator, How does he reconci 9
hat with the former statement In hi.
peechP And now permit me to read !
'lso from these same r,mark4:
National banks are estab ishsd in.
YES. established on this country!
fhe whole business of tn" country
Identified with them. For seven
cen Years they hava conducte the
finances aud the currency OF the
vhoie country with safety and
urress."
4vs. they have paid 8 1 10 per cent.
MI Sl27 00d.000 surplus. with $548,-
10000 OF dividends divided among