Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1888-10-26
Hon. Wm. L. Scott Critieises Blaine's
Recent Statements About Them.
TruSty Jim Either Densely Ignorant or
Wilfully MisreprcSentS.
A New York Tramp Sentenced to Sing
Sing for Registering Illegally
TWenty-0ne of the Rio Grande City
Rioters Arrested for Conspiracy.
Two More Attc mpts to Wreck Trains
Near Mexico, Missouri.
JIM BLAINE DONE Up,

He is Taken to Task for His False Statements
as to Deposits in National Ban Ks.
NEW YORK, Oct. 2S.-Hon. William I.
Scott was at the national democratic
headquarters this evening and took oc-
casion TO criticise the most recent state
ment of Mr.. Blaine about the treasury
deposits in the national banks. He said
that no one could think that the origin
ators of the present sub-treasury system
conceived the idea that the people
could be taxed to such an e1
tent as to draw surplus of
from S10O,OO0,O00 to $500, 100000 from
the business and circulating medium of
the country; in fact, IS 100000 was es-
timated as the maximum sum that would
at any time accum llate in excess of cur
rsnt liabilities. In the correction of Mr..
Blaine's misrepresentation in the course
Of comparison institsted by him be
tween the action of our government
and that of England and France uHder
similar circum stances Mr.. Scott says:
Mr.. Blaine compares the fins lcial policy
of our government with that of England
and France, and he does it in such a
way as to show that he is either ignorant
of the subject or that he is treating it
with wilful Misrepresentation. The Bank
of England is purely private corpora
tion. The government of Great Britain
has no more TO do with it than it has
with any other corporation chartered by
and under the authority of its parsia
ment. The bank of France is also
private corporation, and the French gov
ernmeat has no interest in it. The
bank of England is the financial agent of
the English government, and As
understand the system the revenues
as collected are daily deposited IN the
bank without interest or security so that
no part of the taxes collected in England
is ever withdrawn from the channels of
trade and commerce. It is left whore
some one will borrow it, if the govern
ment has no use for ii. The banks of
France is also the finance agent
of the French gOvernme q6 and
the revenues of France are
deposited and Withdrawn from it as
In Gus1sEa, Neither. Ha7 Nr--t----s E--e7
land nor the bank of France is required
to deposit government securities for any
balances due. There are no such banks
in the Uuited States as the bank
of England and tho bank of France.
The democratic party during the ad
ministration of Andrew Jackson settled
the question finally and for ever that this
government should never create nor per
which might become more powerful than
the government itself. Wherein then does
the policy adopted by the seoretary OF
the treasury in making the
deposits he las in the national tanks
differ from the system OF government
deposits existing not only in England and
France to-day but also in Germany This
is especially true when all the national
banks regardless of the political creed of
their officers have been treated alike.
In my city the officers of the
largest national banks both rs
regards capital and deposits are demo
Gratis and they neither have nor could get
government deposits because the quota
as signed to that locality had been filed.
Two or three national banks whose officers
are republicans have such deposits and
yet the democrats do not claim that these
republican banks ate robbing the gov
eminent. 1t is only Mr.. Blaine who
claims this, and surely he ought to know.
The question as to the deposition of the
surplus is another subject and vii. not
consider it now"