Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1882-03-04

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| too limited paper Circulation" says the
i secretary. "The national banks are
ready to issue their notes in such guam
tity as the laws of trade demand"
Think of that in view of the conduct
of the banks last spring when they die
| tated the veto OF the 3 per cent. funding
bill. When hawks protect sparrows
and wolves lambs the people OF this
country may be safe in the hands OF a
combination OF men not responsible for
whose duty to their stockholders, re-
qulres them by every means known to
sharp dealing to make all the money
they can out of their business. no matter
who else is made poor by their opera
| tiOns.
Perhaps the desire to invest the banks
with such vast power at this time grows
out of the fact, as the secretary shows,
that 'sthe Corporate existence of 369
banks will expire previous to February
25, 1885," With absolute power over
the currency, such as the secretary de-
mands for them, they and their associa-
ties a force q renewal of their charters
| upon such terms as they may demand
without being required to settle with the
people for all the currency issued
under their existing charters. Their
friend, the comptroller, has already
commenced his arrangements looking to
that end. The people need q sufficient
currency, independent of the banks. to
be. able to require them to settle, or
close doors till they do. We,the people,
by our contract have a right to demand
payment, when the charters expire, OF
every dollar in circulation issued to
them during the twenty years OF their
corporate existence. All destruction OF
currency by fire, flood or other cause is
our profit, III share of the assets. We
want 1t to reduce our national debt they,
OF course, don't want to pay it, and if
the secretary and comptroller can have
their way the banks will force q renewal
OF their charters without settlement. l
do not know what we will get out of
them. Out of tho fractional currency,
which never exceeded $45. DOC, 600, we
have made Sis, OOO, O00-33 per cent. ;
that the secretary admits. II the de-
struction of national bank notes from
all causes during the twenty years
amounted annually to 1-2 of l per cent.
on an average issue of about $3.50, 000,-
600, that would be $35, 000. 900, and
with a like loss on greenbacks, say
$35. OO0. 600, more, we can without cost
reduce the debt some 1856 ,O00, 900. III l
am approximately correct our Outstand-
ing paper circulation is by $1,000 900
more than all the silver certificates
now in existence-less than 1t is report
ed to be, with greatly increased
necessity for more than we eve have
had But I have wandered a little
from taxation, though these matters are
part of the system of protecting moneyed
and manufacturing corporations at the
expense OF the people.
The newborn pretense of the protec-
tionists that they in good faith desire to
abolish the internal revenue system in
order TO relieve the whisky and tobacco
interests of the south and west, and to
rid the country Of the swarms of tax
gatherers and political bummers with
which they have flooded it, is too shall
low to deceive any intelligent man.
There never has been a measure of re-
lief passed by congress, from 1866 to the
present time, that has not met with Bit
ter and incorporating hostility from
the great mass Of the republican party
and the advocates of tariff protection.
I appeal to the record. Democrats, men
like myself, who stand squarely on rev.
| enue tariff taxation have forced through
all the measures for relief ever given to
the whisky and tobacco interests. We
are the only friends they yer had and
the only friends they ever will have IN
congress and they know it. Without
seeking to stir up party antagonists,
which tor nee l think L have avoided, 1
repeat that it is we'll known that the SEN
ator from Vermont and his protection
allies increased the tax on distilled spir-
its from Is to 80 cents in 1875, in spite
of all the opposition we could make,
and the St. Louis and other rings got
the benefit OF it. They increased the
tobacco tax from 20 to "a cents against
all our protests. When we reduced the
tax on tobacco from "a to 16 cents we
wore denounced by the officials of the
administration and by the protectionists
as robbers OF the treasury to the extent
Of $40, 900 900 or $12, OO0, 900 annually.
When the Carlisle bill, which 1 took
charge OF here. was passed in spite of
the senator. from Vermont and the hos
tility OF the acting secretary of the
treasury, Mr.. French, who dared not
come before the committee and defend
the report he had withheld from the
house but sent to US, it was passed by
democratic votes in q democratic con-
gress. In view of these and other
equally well.known facts it is the bald
est hypocrisy tor the protectlonists to
pretend now that they are the friends of
the producers Of whisky and tobacco.
Their movement only developes to what
desperate straits they are reduced and
what DISHONEST p%retenscs they will re-
sort to IN order to peIpetuate the license
they now have to plumber the masses OF
the people by the subsidies congress has
| given them.
| believe reasonably low taxes pro-
duce high revenues. Sixteen cents on
tobacco now produces more than "a did.
Whisky at SO cents would in five years
produce more han 80 does. No man
should be required to pay excise taxes
on more than goes into consumption,
and not until it does, whether 1t be one,
three, tive-or ten years, the interest," OF
the producer will induce sales as rapid.
ly-as the demand for consumption re-
quires, and after spirits leave the gov
ernment warehouse they should be abso-
lutely free; all espionage should cease.
The taxes OIL licenses and all other re-
strlctions should be removed; that dane,
halt the expressions Of the systenfw1Suld
disappear. Fifty cents tax, payable when
the goods are removed from the care of
the United States officers, and all other
charges and taxes abolished. is the true
revenue basis in view Of our present. IN
~dehtedness and the necessity to collect
large revenues. Anything beyond that
means no relief to the dlstillers
Of the country. and they do not
now ask for more. 1t is q useless waste
OF our resources to be maintaining taxa.
ton to collect. as we now do, over $780,