The advocate., 1890-10-15

in charge In the House, and IL was rap
idly pushed 10 vote under the tyran
nous workings Of the previous question
Ito arbitrary methods denying even Tn
reading OF the bill, IN egteasO, as request
ed by Roscoe Conkling, Of New York
But, some twenty years later, in April
1892 after John James Ingalls,, OF Kan
sas, had served as q United States Sena
tor FOR more than nine years, Hon. VIII
liam W. Crapo, Of Massachusetts, chair
man OF the house committee on bankinJ
currency, introduced into the House 0
Representatives a bill $50 enable nationa
banking associations 20 extend their cor
porate existence twenty years." thu
seeking TO verify John Sherman's declar
alton Of February, 1862, as to the na
tional banking scheme being a perma
nent systemI
EARNEST PROTESTS MADE AGAINST TX
TENDING THESE CHARTERS.
John A. Anderson, Of Kansas, on May
10, 1882, in a speech made in the House
thus forceiully spoke;
There wasa very wise foresight in the pro
vision inserted in the organic act that thI
charters of these banks should expire NO th,
UN rfau Akn NaA H,.N t....a
because that provision was designed 90 be d
defense against the tendency OF allmOneyeC
institutions 20 perpetuate their existence ant
enhance and nggrandize their mower. Thni
was enacted In the days that tried mems
souls, and then 10 was that tho republican
party won its greatest renown. Those were
days when we had such men aB Lincoln
Seward and Chase, when mems souls were
purified by patriotism and fred with suoi
love for the nation that they looked far into
the future, and 10 looking declared that In
twenty years the charters of these national
banks should cease. That declaration waf
the edict OF the republican party in 1863. II
has been the principle of our party ever
since. II IL true republiCanism now, and
by IL for one shall stand to-day. The
twentieth year has come; 1863 has passed
into 1888; and now-what2 The republican
party, in time Of profound peace, ia asked
TO change It's historic policy and its saga-
clOus forothought by continuing the life of
a banking association indefinitely perpet-
ually, and in COntraventiOn of the provisions
inserted by the wisdom Of the fathers.
prefer TO be republican Of the old and of
the true school,
PLAINLY SPOKEN WORDS FROM A mis-
sOURIAN.
Thus spoke Joseph II. Burrows, a rep
resentative from Missouri:
10 has not been my purpose to reiterate
the familiar evils and Oft cited absurdities
OF our banking law, which allows these
banks TO issue as currency that which il not
in law or in fact lawful money, which COM
pels the government of the United States TO
pay few rich men as soon az they apply
for and receive a bank charter, interest on
bonds that have been practically redeemed,
ana royalties to corporations whose notes
they endorse, which enable the associated
money kings Of the country TO form q plu-
tocracy that defles the popular desire TO re-
store TO the government the power of con-
trolling the volume aud character of the
currency.
have not attempted TO amuse or Co re-
cite bombastic platitudes TO array rich
against poor, or labor against its creature
and natural servant, capitals but In entering
solemn protest against the continuance OF
this wicked financial system Of our present
national banks, that has grown so fat, inn
pudent and domineering az TO threaten the
people who would curb its power after the
first twenty years OF It's existence, / have
sought TO show TO che country and 20 tho le-
gal minds OF the House that the present sys-
tenn should not be extended or perpetuatod,
bocause
First. It is unconstitutional.
Second. tits Unnecessary.
Third. II is too costly.
Fourth. 10 il too powerful TO be given u
further lease of power.
Fifth. lt iA of neither nan or henant 10