The Saline County journal. [volume] (Salina, Kan.) 1871-1893, 1890-10-16

c4Ate ua133- luis PAGER Wa t3s4e9
on al kinds Of real or pretended
property There was no government
Inspection OF publication. The
notes we're 3iscouatsd 10. %, or 80
per cent. Ia business eshtsrs Of the
country when these hanks pretended
10 be ct Dsr. They were poorly
printed aud counterfeIted 80 often
that every man bad 20 keep q coun-
terfeit detector, but In point Of fact
the eouaterfelt was as good ~ the
original. Who wants TO 20 back to
that old State bank system? The
basis Of the present National bank
system Il to Issue notes only on the
bonds Of the United States which
the bankers have to purchase In
open market as every mau can do,
One orator Of the Peoples party
tried TO create the impression that
the government issued the bonds to
the banker. No bonds have been
issued for many years On the con-
| trary the government has been call
Ing them In and paying up aud
destroying them. In this way Ma
tlonal bank currency II being forced
out Of existence.
The fact that the government bonds
are not taxable IL one the National
banks have nothing to do. with.
During the war, as a means Of rails
Ing money to meet Its expenses bonds
were offered tn investors and made
not taxable 30 a. To get them ON the
market. In q time Of peace this
would be inadmissAbie. All prop
erty should pay it, share oftaxAtion.
/ would hever consent to any extern
sion Of such s system the moment Il
can be honestly ended. II vas one
OF the many sacrifices Mr.. Lineoln's
administration was Obliged to make
to save the country aud that saliva
tion was worth q thousand times
what 10 cost.
The republican party has also been
abused aud misrepreseHted by these
agents OF Mr.. POlk, who says the
government loans the banks money.
Let rs see. Ever since the founda-
tiOn OF the government u has made
banks Of different kinds deposItOries
Of public money. I cannot say that
I ever approved Of the system, bat
let 10 be stated honestly aud fairly
and 10 will be seen that the repubil-
can PARTY improved on the business
methods Of all the parties proceed
ing Il. Public moneys are most
largely collected from customs which
20 Into the treasury and sub-treas-
uries. Throughout the great body
OF the states considerable sums are
taken In at post Offices, land Offices
and Internal revenue Offices. IL Il
not desirable that large sums should
remain In these offices, and they
have been required to make deposits
continually Ia certain hanks from
which the government drew the
funds. Shortly after the cOnstIIu-
tlOn was adopted the old United
States bank was created. II had it,
branches la several cities. Its orig
inal capital was SIC, 0O0, 40, One-halI
OF which was taken by the United
States. Grave doubts Of the consti-
tutionality Of this proceeding have
Away existed. The United States
actually put mo- money In it 1T that
time, as 10 Immediately borrowed the
q, O0O, 600 OF stock IL subscribed. In
the cases where more money was
needed than was In the treasury the
bank loaned money tn the United
Slatss, which paid Interest ON 70. II
will be- remembered that when Jack
sou became president he removed
the public deposits, which had up
tn that time been made In this bank
aud itz branches. However correct
Jaekson's course might have been he
did one thing that was more omen to
criticism. He had the public depos-
lts made in the state banks, which
were by no means so secure. During
the republican administration sew
- an
United States have been created,
but not enough, ~ has been snp-
posed tn transact the business Of the
country. Instead of dePOsiiing la
state or private banks, as had heen
done before, the republican alininis-
traiiou, On the creation of the ma
tiOnal banks, In the war prriOd,
designated certain number Of these
m public Repositories 20 ICe i've
funds as ] have stated. These hanks
however, were required Ia deposit Ia
the treasury Of the United States q
sufficient amount Of United States
honds, tn be purchased by the banks
Ia amply secure the government
money thus being coil 'cted through
their hands. This money wa- always
subject to the draft Of the United
States aud these banks under repub-
lican administration were compelled
to pay n small rate Of interest on the
money thus subject TO draft i'm these
hands. IL will thus be seen that this
ls system Of deposit n old "a the
government, ann that the rspublI-
can mode has been n decided i'm
prOyement both as tn security aud
Interest. ! am frank tO say, how.
ever, that ] am not inclined 10 favor
either OF these modes but would pre-
fer \ direct settlement through sub
treasures the moment Il can be
done. The gross Injustice Of repre-
sentiBg the republican party a loan
Ing the Publi3 Nancy to banks will
be apparent. IL Is thus made the
basis for n mnnstrrus proposition of
Q widely different character.
There wRs another question put g.
me by Mr.. PefIer, through his audit
eTce ut Ailtonyale. why reeipro-
city with South America aud the
West India Islands, and not with
Europe aud all the rest of the
wOrld?" To which I answered then
~ I do now that South America and
the West Indies, do not In any degree
enter into competition with Ameri-
can labor. They sell Us eollee, sugar,
spioes, dye woods, qulnine, aud
many other articles we cannot pro-
duce. The only things that even in
a small degree enter into Compel.
tlOn with American production are
coarse hides and the cOar-Est grade |
Of wool, suitable only for carpets. In |
the fiscal year ending Ia June, our |
balance Of trade with the world |
stood In Europe, Asia, Africa, aud |
PolYnesis, there was q balance of |
trade In our favor Of Sis9 COOS In
south AmeIicR aud the West Indies
the balance against as was In round /
sli2.O0O,OOO. Putting ali
together exchange against us In our
eutiFe trade WAS sl3,D0,O0O. Under
these circumstances, that gran lest
statesman Of modern times, James
q, Blaine, proposes q reciprocity |
treaty with south America aud the
West indies. whereby We may be
sble 10 more than make M this bal
anee, aud sell of our products and
some t3D0.OO0, OW o
year. The wisdom Of this must he
apparent. As the leader Of the re.
publican party he IL fettePed ~ no
Traditions. He recog-
Iizes the great expansive force Of
American business, and the prOgTes-
live spirit of American civilization.
He thus demonstrates that the re-
publican leaders are fully up TO all
he demands 0f the times.
On the question Of tariff let me
here state thai from the foundation
" the American government 10 has