Roseburg review. [volume] (Roseburg, Or.) 1885-1920, 1886-12-24

ated and controlled by these banks
Creatures of congress, pets of the gov
ernment), and forced to veto an act
passed to relieve an overburdened peo-
pie from small portion Of interest
money! Oh, that the spirit of Andrew
jackson coul have then been invoked
in the White House to put to shame
such trucking to bank influences
History repeats itself, and the ques-
tion of bank and anti-bank is to be
fought over again; not exactly i'll the
same form as in 1882, but in substance
the same. In other words it. is con-
ffict between the Monied corporations
and the people. No good reason has
ever been given, nor can any be, why
congress should not furnish to the peo-
pie the three hundred million of dol
lars CT the circulating medium of the
country directly in legal tender notes,
instead of doing it Indirectly through
the national banks. The constitutional
authority of-congress to provide Il cur
rency for the whole country is now
| firmly established.
In Veazis bank VS.. Fermo & Wall
533-54S Chief Justice Chase, in de
lIvering the opinion of the court, said
''It cannot be doubted that under the
constitution the power to provide a
circulation of coin is given to congress
And it is settled by the uniform prac-
tice of the government and by repeated
decisions that congress may constEu-
tionally authorize the emission Of bills
of credit"
Congress has undertaken to supply
national currency consisting of coin,
treasury notes (greenbaeks). and bills
of national banks in about equal pro
portions. Let the national banks be
abolished by the payment of the inter
, est bearing bonds, upon which they are
based. They have too much power
over the people and the government
, ever business and politics --anl too
much disposed to exercise that power
to the prejudice of the freedom and
equality which should pre- vail in a re-
. public, to be allowed to exist in our
country. Let their circulation be sup
piled by greenbapks. Ifit be said this
is debt, l answes it bears no interest
and is tue peoples money direct from
} the fountain head, with no intervening
power that might at any time by with
drawing their circulation, involve the
whole country in utter and complete
bankruptcy and rum, and become a
standing menace to the government it
self.
In the case of Sullivan VS.. Green
, man, decided March 3, 1884, the SUI
: preme court of the United States held
that congress has the constitutional
. power To make the treasury notes OF
5 the United States legal tender in the
| payment of private debts, in time Of
{ peace as we'll as in time of war. Thus
, sweeping away the last legal objection
to greenbacks
| 1t does not require prophet, nor
the son of a prophet to see that finan-
| cial struggle is coming on that will
c shake this country from it's center tc
, its circumference, not entirely cn ac
count of the immense accumulation oi
5 money in the U. S. treasury. The
) non payment of the public debt, and
the reducing of the revenue of the
government, as predicted by Mr.
Blaine. Already the national banks
S are demanding additional Legislation ii
: their favor They are refusing to sur
render under the call of the secretary
e of the treasury, the bonds deposited by
S them in the U, S. treasury to sustain
| their circulation and evidently intend
t to prevent the payment of the public
> debt, and fasten themselves upon the
people forever.
. "Ill fares the land, to Fastening lisa prey.
Where wealth accumulates aud men decav
} Princes and lords may flourish nlly fade,
breath make them as a breath has made.
But bold peasantry. their cOuntry's pride,
7 When once destroyed can never, be supplied"