The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-06-29

tie lnbpr,ig ctas-es If ullr people.
NJ man goes 10 tho hanh counter and do-
manas the redemption III nationals bunk bii
Why? Because il " practically aoyurnnen.
PAPER. and il AZ good ~ I'll. paper III which 4
would be redeemed. Tie rcnding bill proposes
to extend the charters 81 these banks Tor
twenty wears. aud thus give tlpm Tor tie terai
Of forty years the III. ~ Tire Government r4psr
without costing them dollar. That IL unn IL
the objects u the pending bull. II proposes 10
extend tho time nr the banks 10 redeem tier
circulation. and they knoa Il. Yet TIL, come
h,r. aud claim that they are acting for tho
bcnent OF the people. THIS il one D; tho
sMindles 10 I. potpetrat.d.
II they arc compelled 10 redeem their crrn-
lation at once IN lawful moiiay IL III. Govern
mcnt, and II this MONEY 10 deposited ia IL.
treasury We can TIE IL NJ other surplus ire,-
nnes are used. III rodesming tile loud. upon
Which there banks are doing business and ii
OF Ter To take np their circulation W. esn issae
treasury notes having the same monetary ians-
tons a I'll. uank notes. A these bank note.
COME into the treasury IA tht payment VI tsae.
and otherwise the hill wllc 1 have ilelAi,l
provides that tie Secretary ~ ihe Treasury
shall Issue circulating treasury notes IL tahu
their place.
In tins there II no contraction -none what
ever. ioa will hHy. in crculattpa tie sumo
KIND of paper that II ont tosas. Gnf.f,lmp IA
paper issued ~ Congress, Tor t,ie bank pa.t /
l. nothing Int ioserament paq,r issued UNI lar
the authority of Congress, tir hanks tang Tia
agents Tor It's circulation. How many ascu,-
and commissions do We want i'll this land I
ATE We not capable III aans our own business /
Thus Fir, | would is~l. 6ot.rum.u. laret It.
attmahle like bank notes aol taking t.. 7 Ice
.. tho bank no,.r. AMI i'll u4lnts ieIH-ltt i IN
tue banks can liz used iar eulr,n' tsruad!tsltes
aiid Tor the payment ~ tie public debt. thus
the banks Will b. rem n'a 10 redeem the cfen.
la'ion OF which They have lad iii. NJ. for the
last twenty Years. The niuiiss paid III ly tAsn
10 redeem the circulation vi H. utilized II eN-
tinrn shins the puzzle deli. ~ tis var lssa.
| three Years from today. VIII til. amount II
| revenue now csinlng into tl!s treasury AMI with
| tl!e revenue which VII COME IN nta,r nv biil.
we can redeem The last outstahd.n, pr
cent. bond and thus Wind M the banking liisti-
tnilens. They will no longer survive.
do not propose to disturb TIL present ean.
ditlon Of things except y issue treasury note-
| having behind them legal-i.Eder notes to take
| The place VI the na,ional-baHk notes. Tic
treasury note p,opos. to issue will tc rcaeeni-
! able like the national bank note. propose 10
issuo a treasury moi. the same a. bank note.
| and that i.as tie same thing ieLind II a. u
| bank note.
so far a. . contest between Tie hank note
\ and ia. treasury note IL concerned that il AL
sufficient for the purposes Of my M ament.
Now, Mr.. speaker. viii l.ai from the report
| Of the Comptroller u tie Currency. sihaattea
Dec. .. 1851, IN which, Oh page Is, Is the iul-
/ lowing statement:
The principal reason urged by those who
| favor discuutiuuance OF tie MISUNDERSTANDING
/ ssstem Is that nion.; can be saved by antaSr-
1 ixlng the Government IL furnish cifeua' q "a
1 the country; i'll oiIa.r words. thai I'll. flcn 10
1 tic banks upon their circulation = .As,stlse.
| sixteen years ago the hank mi Oh iarsit. ~
security for circulation, 500, uaa. paa la Jarl
| States bonds. uf wAca ss.4oaat ncallv 80 :
i 4 .s8t. Sx.t Ian
| 5 ler cents. The hasaks nov hold >S2.Nu.p9
/ of a. per cents: .aa, Us,.tuD II l ptl stat>;
/ s.il.uue,00u ~ y pr c.his. cuaseriod iran j
and per cents; a.,i also .3,oJe. W oi I.e.i.e
| railroad skies"
/ Fer aixteen years. then. Mr.. Speaker. these
| national psLks held bud, dta al.s D AID q i,r
| cent. interest TO the amount Aere stated. Wna,
| was Their profit Ut that TINT! IL is claimed
there Is hut little profit ia nai onai banks. and
| admit there II not macil prolii nes as tor.
| merry. But during til. war. and sA r,iy after
| ward their profits we're very large. ! have
| made calculation. and ind duilas ihese nj.
| ten Years referred II in til. rtYot Of ih.
| Comptroller of Garrciles the lsake drew ia.
| t.rss, s256. uun. DO III con- and hti.is tia.
| ia mot cost them OVER III 10 !. cctas al tic
| dtiar ot CON. Their c,reulltspa il $50 q %
| ono Of banking PAPER. Mil Ia MSS III dsse0gGstt
with egal-terd.r NOTES du. .,g III ,4at .lale. u
| coars. IL WAS ruicca4ahl. II ITEM Nm. II
thy ar, compelled ID t.siecM tit.f rlrefl3attat
| Ia lawful MONEY slsy ai aa. have refunded u
the treasury tile slueuss taes has. already
| drawn la other waras. Mr.. speaker. tie lax
PAYERS Ut TIL. q ,strnAa II a8ye pall sntu lie
eofftr Of the national aaa'AS aaIins tn, sixteen
| years III coin tanie than i saiu I,.lt u REDEEM
tic last bank note ahfsLfA.s l>sa.!. ihsy have
lad Il all for no.nins. That j. where they ".
e,scd th.!r rroat, sal taerct4 l!s, ,le lianls
OF = syst. NJ are eallti on nua in this iiaast
to continue.s
l III We ART To continue ihs'a n. they loy rsls,
they Will cost Us mol less than .l9.u1d. lua an
| nnally, and II iley 10 .Slst for twenty wear,
| under this new lille lit, mal ten hasc E.es Isl 4
from the Governments shitlelt.t nh4iaeg, a.iu
more tian enough. Ia ,slN4 redeem tLr lasi
| note the Government has .ysr gAea % Item.
Trey vii have lived ior f.ttg rats anJ tLt
circulation absolutely gis.lI Ia tte4a without
ciafs. and to lie used vi th.lg own discretion
| for that time.
Under this bill they can he reeharttred foi
IL rniy years maTv. aud thea tag tssnts YEAR,
more. ami 20 ON psrpriasiis. - that th,
proposition Is nothing n"te er he's tasn til,
p.rnetuatioa Of thas wi.alr natluna!-ba aAaslk
- steul That l. Just Mai II i.
| They are III <er 10 rc.'esm ihasr etfcul afio,l
| G u,l.nen who can ssaul uEa4 this ilaar ans
defend such = system OF can 70 tsfai. tael
constituents and taA.nas.r~ aial defend such
| system have. in my judgment. nlare ability tina,
| give any gentleman sn this aaar credit fur
IL l. absolutely ihd.f.i>ie. llir siylns fa ;LeS,
| national hanks i'll aaag;taa IL all th.y have IL
ready received, sl2.oAuia \ Year luasly io
tNeaty years Longer.
| Many newspapers throughout tbs ceunsrl
| complain and d.noaac, 1oasr.s. as .N,lssa
CANT il We happen 10 give -lu"A,,tW og ~,
ute.no0 10 improve T.. sa>t Watsr nas~ 81 aau
euaaiiy. II ". appropriate sa.sni, 100 W -.
100 for inaarSsln- the saaN -atsaa IL ~.
NJ ssi>.lppi river and its Tributaries from moail
to source, to se.urc I'll. ap transports, GA la
IL. VAT products ot Tia. Mgs>ts>splA salssN
worth untold inlllian> 10 the Gass gilnei4, ",
ar denounced A. l.ln- .slras gtnt. NJ. 40
they soandly p.fste III IL We latlnsste oh
jss,ion II substituting asilenal na4iAs al IL,
raj. ~ si2 uua.ap snnaails.
| LIT IL sua>lasx3 til. Mississippi an it. tab
| mtartus 1T the tate II sia,WAtN1 Per su4ssll
| FL tia half VI tie twenty N~~r.. at.l Me NJ.
have deserved the thsaAs ai tie ptopsc. Stvl
| the faiiA, and give II io the river, Mf. Slasx 1
Or. remind genti.mcn this xii 20 Ltaae II, T.,
people III tue eulniis elrt'tl ai.s. and Su4llta.l
WHO vote 10 perrctaate tits sssi III vii tas /
hsrd TO explain their acii II IN favor IL tbs hi
II .a sis 81 tesore tile couatry. sai sash ~
tenn Ut ..ssllxrd plumber. aty,r before heard u
ua.er any form Of government. shsll have ii
infamy denounced Ia terms which AZ. heiitsll.
Ani just
ILey cannot exist, sir, unless we contlnu.
| those bosads and pay ta,s SUBSIDY AMI that i,
| Wat tits ball mes.rs. ~ said maaleat aAo
Il Il means ANYTHING. Then this Issue come,
nn aaaf.iy anu fanay. are We III fayu~ u con
taninc the pnhiae debt indefinitely or pertet
ua,lns that delft III order 10 psrl~sua,. Ia.
nstional hsakss Il j. nothing else. II car
N an nothing else and tia, l. what this Iii
m@aa>. Or II means nothing. / hay. suEl.-
times tri.d IN IN, feeble way ~ convince gentle
men fayoring the MISUNDERSTANDING syrt.n
tat there might b. something else ua
der the shining SUI that VAS hs,tsr
an tie gentleman from Masr~clasxtt,
stated in his speech that he woals
favor the national HANKS until some one dc
va-ed better system. That i the arsams al
that IL offered. Int have no, seen oae a
them vet Who would d.sise another scheme "
WHO could agree with any ons else IS 10 ths
ssstem they could devise t. tass lis place. am
would like 10 know what better friend. iaS
national banks have than those gentlemen VIE
cisim that there il no better system or plsi
that can 10 deyis-ds
Then, air, II no letter svstem than the ns
tional-hank system can he devised Lv CaaSrv.t
| ". are driven 10 the necessity Of stopping la,
payment III the national aeht liz Continue tatnl
| III We ss5i.ve that Ii ~rang. Nc are fexsFvaat Il
a. -