The advocate., 1890-05-07

tnuance.
M farmer owns United states bonds why
may not he deposit them at Washington ana
have the privilege Of taking home with him
40 per cent of the amount IN notes guafnn-
teed by the government 10 loan 10 his neigh
Dor at the rate OF interest allowed by the
laws of the state IN which no reaideaY Sim
ply because under thela such privilege Is
restricted solely tO national banks. The
currency of this country rs itB life-blOOd and
congress has putt In the keeping OF soulleBb
cOrpOratiOns, who may increase or lessen it8
flow as their interest dictates or their ca
price suggests. They can make money
cheap to-day and dear tomorrow. The
property of the country and its entire busi-
neas are no the mercy OF the system.
affirm that from the very day OF the Or
gnniZatiOn Of the national banking system
10 the present time II has warred inceasantly
upon the rights Of the peoplei that IL has
been unRrateful aud selfish, and has used its
power and exclusive privileges TO increase
the burden OF tAxntiOn and embarrass the
government IN every laudable effort IL has
made TO Tighten tho weight Of the public
debt.
When the net Of congress Of March 10,
1862 can act 30 strengthen the public cred,
10, " was before congress, the corridors around
this hall, the committee rooms above
and below us, and the city itself swarmed
with the agents and attorneys OF the banks,
who we're here TO influence tho judgment of
congress and aid In the passage OF that in-
famous act.
UTrERANCEs FROM NORTH CAROLINA AND
LOUISIANA.
Hon. Clement Dowd, Of North Carolina,
remarked;
The national banks can live only upon the
public debt. There ought 10 be ewisdOm and
patriotism enough in the halls Of our ma
tional Legislature 10 devise some plan that
would afford the people their needed relief
and enable thom In every locality 10 borrow
what money they need mt reasonable rates
OF interest. 10 is subject worthy OF the
most earnest confederation OF our wisest and
best men; n subject of infinitely more im-
portance 20 the masses OF tho people than
the tariff and internal revenue laws.
Representative E. John Ellis, Of Louis
lana, inquired
What ia money but lubrcator of busi-
ness, the universal oil that facilitates the
progress OF businessf The poorer the bor-
rover, the more dependent his condition,
the more absolutely rs he bound TO accept
SUCH bbkluh Wh bHb AohuoA1 ulAo htllholI Alhy
see nc 20 impose. "Interest doth eat as q
moth, and those who borrow are kept poor,
and their progress toward wealth and ease
Is retarded by dear money, high rates of in-
terest.
Hon. Jesse J. Finley, Of Florida, re-
marked in the house:
II we continue the present banking sys-
tenn, we will necessarily be compelled 10
perpetuate the public debt. In my iudg-
mont the government should issue all the
paper money needed TO effect healthful
exchange of commodities in our domestic
trade;
Representative Nicholas Ford, Of st.
Joseph, Mo-, said;
The power TO charter bank was four
times exercised by congress previous to the
creation Of the present national banking
system; in 1891, 1916, 1892, 1871; but not one
OF these institutions was permitted TO con-
hnue It's corporate existence after the term
Of the charter expired President Jackson
stranglod the monster of monopoly in 1892,
and President Tyler as eiiectually thwarted
the plans of the aristocracy in lS4l
FITTING WORDS FROM MISSISSIPPI AND
MISSOURI.
United States Senator James n. George,
of Mississippi, said;
The American people mean that the bless
ings Of government, its fostering care and
protection, shall como TO all equally, that
tho rich shall have their wealth ~ the result
of legitimate enterprise and and labOr-not
10y governmental donations and favors, and
that the poor shall be poor from their own
faulbs or misfortunes aud not from govern |
mental exactions. Whoever shall seek for
more than this will be resisted and destroyed; |
whoever is content 10 receive less has sold
his birthright and already forfeited his title |
TO American citizenship.
Representative Ira y, Haseltine, Of Mis-
Rnnri. who made very elaborate sneeoh |