Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1882-01-28

tleman to make it out. That is the
| way they have conducted the busi-
ness OF the country with eminent
| success.
"They have exercised q marked In
fuence on the wonderful progress
aud Development of our resources.
There is not = considerable town,
village, city, or county In the whole
empire OF our Industries that is not
more or less dependent upon aud
directly interested in their stability
aud in their continued existence.
Their officers, stOckholders, aud de.
positors are among tho most intelIi-
gent, substantial, and respected citi-
zens Of the United States. To i'm
pair their strength, to throw doubt
on their duration, or to weaken pub.
lie confidence in their stability IA
sources of business support, 10 to
strike directly aud dangerously at
| the very source of our Internal ex-
changes and business credits. These
banks have carried Us through the
calamities of war, through the pros.
perities of peace, through the gloom
ana disasters Of the crisls of 1873.
Yes, they did. They carried VI
through
Mr.. Mcpherson. GJ on.
Mr.. Vest. will read it all IL you
wieh:
.When bankruptcy aud loss and
doubt stopped the fires iu our fur
naces, the spindles i'll our factories,
the hammers III our forxes; whom
three millions Of our laborers were
idle from necessity, hungry from
want, aud desperate from despair ;
aud yet during ali these mutations
Of business, of production, and OF
credit they stood firm, reliant. aud
reliable, the support aud the aid Of
every legitimate enterprise"
Yes, sir; firm, reliant, and reli-
| able" and distributed their divi.
dends reliably among their stock
holdous.
Mr.. McPherson. II l do not inter-
rupt the senator wish to call his At
tcntion to the fact that I advanced
many propositions IN the short
speech l made. occupying but a very
short time, az reasons why I opposed
the prolongation Of the public debt ;
but do not believe this to be the
proper time to pay it. simply think
this IN regard to the national banks /:
that .untll some suitable substitute 10
provided for the national banks it ia
the duty OF congress to do every thing
III their power to sustain aud sup
port the existing financial inslitu-
lions Of the country. sm altogether
too conservative . man to believe in
the policy OF doing anything toward
upsettlng or overturning the institu-
tious Oh which tho business OF the
country is based, aud especially un.
dertaking 10 do it In this way until
some suitable substitute is adopted.
Had been in congress at the time OF
The inauguration of these banks, /
never would have voted for that sys.
TEN; but for one am very well sat-
isfied that the system has been
success.
Mr.. Vest. The senator from New
Jersey does not show how he can get
rid of the national debt, tho burden
that ho speaks about, aud at the same
time msiutaiu the national banks.
1t you do away with tho national
debt, you destroy the national bsnks;
aud what are you going to do with
the burden9 Are you going to keep
lt9 That is the question:. II you
keep II, you keep the national banks.
Ii you take ei1 this burden from the
people, you get rid OF the national
banks. A man who e1logizes the
national banks. eulogizes the psrps-
tuity OF the national debt. II 10 the
logical sequence aud you cfnnot 81.
cape from 1t. have here before me
in ant editorial from the New York
Sun, the Keynote of this whole
pl oposition, aud we have the same
thing III the report OF the treasurer,
who tells us that we must not pay of
the national debt because If we do
we destroy the national banks. The
Sun goes on wi h figures 10 chow
that there is no necessity for paying
the national debt:
'The abolition of the eystcm in.
wolves, 0f course, corresponding
maintenance Of the existing tariff;
not, indeed, preserving its detects and
inequalities, but reforming them; yet
stln keeping the aggregate OF The
revenue IL yields undiminisned.
s'Abulish the in;eruai-revenue
taxes, refund instead OF paying Oh
the public debt. cut down tie pemsiou
lisi, and make such changes im the
tariff as will simplify it and improve Q
ITS practical working; this is pro.
granuie which we thluk all wise aud
patriotic statesmen m.y safely
ad p,."
The senator tells us that we must
have another system before We al.
tack this sacred Palladium Of Amer.
lean liberty, the national banking
system. Another systeL.! Mr.. Pres
tdent, this country to-day Can with.
out expense have the best money Oh
the face of the earth, the money most
acceptable to tue people, tue money
tnat they would rather have than auy
other. and at the same sans time get
rid of this monstrOus incubus, this
monopoly Of the currency of
the country which is new incor-
porated by act OF congress-. We
can have circulation unequaled on
the American continent. antl that has
never been equAled any where ey any
paper money. There eau be dollar
in silver bullion III the vaults Of the
treasury for every paper dollar is-
sued. 1t the senator wants to know
what to put in the place of national
banks | will tell him. Seven hun.
dred aud twenty eight of these
banks 20 out of existence in 1885, and
there is no necessity for a pani: on
ne subject. There is no necessity for
national bank currency. We have
now within our control five hundred
aud forty odd millions of the Win.
dom or 81 per cent. bonds. We eau
pay them Oh in tour years. We can
issue silver certificates. Remunetize
silver. take off the ban you have put
upon it. let. il be, as it WAS, II, full
legal tender, aud all will go well. LII
the days of Abraham. in the twilight |
Of antiquity, we are told that Abra-
ham was rich in silver and in geld, |
It was the money Of the apostles and
lhe pstriarc:,s; the money to-day of
The east; but you struck il down aud
butchered 1t, aud you are anxious to
bnry it forever out of sight for all |
lime to come. Remonetize silver:
ct silver certificates lake the place of
-hcse national bank notes. Gradu-
aliy and easily the change can be
made. For every dollar Of national
1ank money that Comes back 10 the
ressnry put out o silver certificate.
Let the government purchase all the
'ilver that comes from our mines: IT
s the great Amerlcau production,
he silver bullion of the R 1cky Noun.
.alns; issue your paper money upon
t, and currency will be established
4 q nio in vulua auey |