The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1890-09-25

made the change whereby warehouse
keepers were to be appointed instead
of elected TOR the purpose Of rendering
the measure unpopular. His reply tc
this was that it was not the truth, and
the whole tenor of his public life was
a contradiction of the charge.
That he believed the bill was un-
! constitutional because There is no ex-
press power given in the constitution
10 the government to loan money,
and none to which that power was
auxiliary.
That he had heard it said that the
Government lent money to the Ma.
tional banks, and if so, why could il
not lend to individuals? But the
Government did not lend the money
to the banks, but deposited it with
them for its own convenience just as
an individual deposited his private
money in banks.
The advocates of the Sub Treasury
bill alleged that the Government built
warehouses for distillers in which they
could deposit liquors, and that it was
as competent for the Government to
build warehouses for farmers to deposit
their products. This was a miscon-
ception Of the facts. The Govern
ment did not build any warehouses
for distillers 10 deposit their liquor in,
bat that the distillers themselves built
the warehouses and the Government
took charge of them until the revenue
tax was paid. Here he referred to the
statutes of the United States regulating
the subject of bonded warehouses.
That he believed the bill to be un-
constitutional because it proposed to
lend money to a certain class of farm
ers only; that money was not to he
lent to all the people, but to those
farmers alone who raised cotton, corn,
wheat, oats or tobacco All farmers
who raise other products are excluded
from the benefits intended to be con-
fered by the bill, and no person could
borrow money under its provisions, no
matter what security he could offer,
who was not producer of the five fa-
yored crops.
That he believed in the old Jack
sonian doctrine OF sequal rights to all,
special privileges to none.'
He said he would be ashamed to
ask for one class of his people privi-
leges which could not be enjoyed by
other classes, That the law ought to
be impartial in its operations, and if
the Government lent money to one
class it ought to lend to every class;
but the Government was not and could
not under the constitution be lender
of money to any class of its citizens.
1t was intended for far different pur-
poses, and could not be a banking
business.
AS illustrating, the impracticability
of the bill, he said that under the bill
there could be only fourteen ware
houses in the State, the provision be-
ing for the erection of warehouses in
those counties only in which the an
nual product should be 100000.
QUESTION AND AN ANSWER.
A gentleman here inquired of the
Senator whether or not the bill could
be so amended as to provide for the
erection of warehouses in the counties
where the annual product was only
S1oo,o and the Senator replied that
such an amendment could be made.
HIS DESIRE TO SERVE THE PEOPLE.
He further showed that the Gov
ernment would be forced to meet all
depreciations in the value of the pro-
duct deposited which exceed 40 per
cent, and how spectators knowing
exactly the quantity of the different
products deposited could corner the
market and manipulate prices.
He said that it had always been his
desire and purpose to carry out the
wishes Of his people; that he had al
ways done so, and that, if this bill was
he would vote for it what
ever effect it might have.
DIDN'T WANT THE DEVIL TO GET HIM.
That the people of the State had
made him sentinel upon the watch
tower whose duty it was to warn them,
and that having warned them, he
should do their bidding. The ques-
ton of the practicability or impracti-
cability of any measure was their bus
mess; its constitutionality was his bus
mess. He had sworn to support the
Constitution, and if he violated that
oath the devil would get HIM, not
them.
THE NATIONAL BANK SYSTEM.
Upon his position in reference to
the National banks, he said that he
wrote to Mr.. Beddingfeld in May last |
that he was not in favor Of abolishing
The National banks in the present f.
nancial condition of the country.
That this letter remained in Mr.. Bed
hands until last week or the
week before, when 1t was published in
The Progyessive Farmer, and it was
then charged that he was in conflict |
with the platform adopted at the late
State Convention, or the plank there
in in reference to National banks.
,orrn .c.,>-cr ev,H>,n,>,~ MR., ~.
TIONAL BANK CHARTER.
Then ne proceeded to say he had
been for years ardently opposed to the
National Banking System; and that he
voted against extending the charter of
the banks, OF granting any favors to
them which were calculated to perpet-
uate or increase their power.
He stated that he had introduced a
bill to repeal the tax of 10 per cent.
on the circulation of State banks so |