The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1890-11-27

iAIIlSO III luSiL luuCILHltS W luC luuu
which might remain after all the debts
were paid.
"To this the corporation operated and
the stockholders cannot now COM
plain. Creditors were protected AMI
stockholders not injured.
THE decree Of the circuit court must
be reversed, and the case remanded,
with instructions to enter decree di-
recting the payment Of the sum of
81, 100000 into the Treasury of the
United States by the commercial board
of finance before any division of the re-
naming assets of that corporation is
made among the stockholders.
In pursuance Of the act of Congress
passed on the 18th day Of February,
1876, and the above decision of the
Supreme Court Of the United States
the board Of the Worlds Industrial
and Cotton Exposition held in New
Orleans, applied in 1884 to the Govern
ment for loan of 81 100000.
The following act was passed by
Congress
"An act to make loan to aid in the
celebration Of the worlds Industrial
and Cotton Exposition"
''Section l. That the sum of 81 ,00O,-
600 be, and the same is hereby, appro-
priated out Of any money in the pub
lie Treasury not otherwise appropriated
as loan to the Worlds Industrial and
Cotton Centennial Exposition, to be
used and employed by the board of
managers thereof to augment and en-
hance the success Of the Worlds In
dustrial and Cotton Centennial Expo
sition il such manner as the said board
of management may determine.n
Is it not clear from the above cited
acts Of Congress and the decisions Of
the Supreme Court of the United States
that Congress has the constitutional
right to order an issue Of Treasury notes
and make them legal tender in pay
ment of all debts public and private
and to lend money? Where were those
members of Congress who say the sub
Treasury bill is unconstitutional, and
the Government has no right to lend
money when these bills were enacted
into laws and these decisions of the
Supreme Court of the United States
were promulgated? Can it be possible
they were in their seats in the Legisla-
tive Halls? If they were is it not clear
from the ignorance they have displayed
they are utterly unfit for the position
they hold? AS long as such men are
members Of Congress the people may
go through the hot and the cold, the
wet and the dry, they may wear shoes
without soles and clothe themselves in
rags and live in huts on the coarsest
! food and their condition instead of
improving will grow worse with each
year. That noble order "The National
Farmers Alliance and Industrial
Union has not come day too soon to
| trace up the acts Of these little fel-
lows and expose them. Slick and fat,
and dressed in purple and fine linen,
from spoils wrung from the oppressed,
when IL Washington city, they feel
their oats, and care not silver for the
people; only for their votes. The COM
mon good demands that every one of
them should be left at home and their
places filled with solid, successful,
business men of known integrity acu-
men and perseverance, if the demands
of the people are to be needed and their
rights asserted and the country blessed
with prosperity and contentment.
Having demonstrated from the legis-
lation Of the Government and the dcci-
sions Of the Supreme Court Of the
! United States and the practices of the
! Government that every principle con-
! tanned in the sub-Treasury bill is in full
] accord with the constitution, I will
now proceed to show that its enact
ment into law will be wise thing.
Before l proceed, however, I will make
clear two minor points. It has been
! asserted that the Government cannot
borrow mol ey at 1 per cent. and lend