The Caucasian. (Clinton, N.C.) 188?-1913, 1890-09-25

sonian doctrine of "equal rights Ia
all, special privileges 10 none.n
He said he would bc ashamed TO
ask for one class OF his people privi-
leges which could not ba enjoyed by
other classes. That the law ought
to be impartial in lis operations,
AMI il the government lent money
TO one class it ought to lend TO
every class; but the government
Was not and could not under Tie con-
stitution lender of money 10
any class of its citizens. IL was insti-
tuted for far different purposes, and
could not do banking business.
His DESIRE To SERVE THE PEOPLE.
lie further showed that the gov
ernment would he forced TO meet
all depreciations in the value of the
product deposited which should ex-
ceed 20 per cent, and how specula-
tors knowing exactly the quantity
of the different products deposited
could corner the market and mani
pulate prices.
He said it had always been his
desire and purpose to carry out the
wishes Of his people; that he had
always done SO, and that, if this
bill was constitutional he would
vote for it whatever effect 1t might
have.
DIDN'T WANT TIE DEVIL TO GET
Th It the people of the State ] al
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 question of the practicability
or impracticability of any measure
was their business; its constitutions
ality was his business. He had
sworn to support the Constitution,
and if he Violat ed that oath the
devil would get him, not them.
THE NATIONAL BANK SYSTEM.
+ Upon his position IN reference to
the National banks, he 1said that he
wrote to Mr.. Beddingfield i'll May
last that he was not in favor OF
abolishining the National babks in
the present financial condition OF
the country. That this letter re-
manned in Mr.. Beddingfield's hands
until last week or the week before,
when it was published in the Pro-
gressive Farmer, and it was then
charged that he was in conflict with
the platform adopted at the late
State convention, or the plank
therein in refyfence to National
banks.
VOTED AGAxNsT EXTENDING TIE
NATIoaAL RANK CHARTER.
The Senator proceeded to say that
he had been for years ardently op-
posed TO the National Banking Sys'
teng and that he voted against eX'
teAhiag the charter of the banks
or granting any favors to then
which were calculated to perpetuatt
or increase their power.
He stated that he had introduced
bill to repeal the tax Of 10 pei
cent. on the circulation Of State
banks SO that State banks might
issue currency to the people arc
break up the monopoly which the
+ National Banks now enjoy.
What man in his senses W0ult
!. favor the abolition of NatiCna
| Banks before some other system o
, banks had been devised to take thei
: place:
&. IMMEDIATE ABOLITION WOULl
1 NOT DO.
! So ell ,f Iai,f nrG >rhp
/ if the banks were compelled to clos
e up their business, Gin the presen
e financial condition of the country,
would be utterly ruined. If tn
I banks had to collect all debts du
e them, where would debtors obtai
3 the money to pay their notes? l
). cou Id not be obtained, if nothin
IS had been provided to take the plac
u of the banks, and the property {
! thousands of unfortunste debtor
/ would be sold under the ham mer
a ruinous prices and bought up by tn
|, speculators who happened to hav
. ready cash.
- HE FAVORED STATE BANKS.
IS He favored the establishment {
State banks Of issue, based upo
e sound principles Of finance whel
, all people could borrow money upo
te their property, and he believed tn
q repeal of the tax on State banl
,r would be followed by good resul
A. in this direction.
is soUARELY ON THE DEMOCRAT
10 PLATFORM.
le What is needed is extension
the banking privileges to the Peep
- - OF the States. That his votes
~ Congress prove that he wanted mo
! money given to the peOple-this
~ tried to secure by voting for tt
~ free coinage OF silver, He state
y that he stood upon the State Dem
30 20 cratic platform.
ia SOME PERSONAL ALLUSIONs.
le The Senator hoped his heare
" would excuse him for some referel
th ce to himself.
Sc He aid 36 years ago he made h
is entry into public life as Il memb
of the House of Commons fro
~ Buncombe county. Such Legisl
Mt ture had never before or since Il
in sambled in North Carolina. 1t co
s, tanned such names as Morehea
he Graham, Giliner, Fisher, Ship
or Winston, Aohe, Biggs, Cherr
IS. Dortch and others. all OF who
of shave passed over the river and a
Mt resting under the shade uithe trees
or In 1853 he was elected member
n, Congress.
es Then he was Union man IA
n did all he could to keep his peol
he out of the war, and that he stc'
he for the Union as long as honor cou
S. permit, but when the people decid
ed to go out, he went with them.
He felt, "whither thou goest
be will 90. thy nennla SHALL be my pf