The Brookhaven leader. [volume] (Brookhaven, Miss.) 1883-1891, 1891-06-04

exercise of its power to furnish a circu-
lating medium, had used gold and silver
bullion as the basis as well as the coined
metals-they knew that il was issuing
circulating notes to National Banks upon
deposits of United States bonds, and that
it was emitting circulating notes based
only on the credit of the government, with
out bullion or bonds to back them, and
hence they were emboldened to submit
the plan of relief known as
THE sUB-TREAsURY,
of using non-perishable staple crops,
coupled with a land loan system, as
basis of currency.
Never since the world began has there
been such an explosion of mingled
indignation and establishment, as
was exhibited when the plan was
made known. 1t was received with
a roar OF discomfort, reminding one of
the choir spoken of in Martin Chuzle-
wit: "a requiem, dirge, a moan, a
howl, wall, a lament; an abstract of
everything hideous and sorrowful in
sound" Great statesmen, reclining on
their downy beds of ease, came forth
like wasps from their nests with whet-
ted stings to assail the disturbers of
their repose. The distinguished Senator
himself, throwing off his habitual sereni-
ty has chided the innocent victims of
wicked legislation, and the guiltless dis
turbers oil Senatorial repOse for
"sHRIEKING sUB-TREAsURY,"
following an 'ignis fatuus, the illusion of
chimerical and disordered brains, wild
for office" They have assailed it with
a rabble of frivolous objections, most of
them against the minor details of two
bills which were introduced in the last
Congress, without seriously discussing the
question itself. The first thing the dis
tinguished Senator Gen. George) did
was to pronounce it Unconstitutional, y
without citing the provisions of the con-
stitution which it violates. No one Is
justified in denOuncing measure as un-
constitutional until it has been so deci-
ded by the Supreme Judicial authority
of thenatiOn. No one holds patent for
the exclusive privilege of constituting the
constitution. The Supreme Court "in the
legal tender cases." which everybody
inside and outside of the legal profes-
sion, is familiar with, has time and
again decided that Congress is express
ly empowered by the Constitution to
emit bills of credit, to charter national
banks and to provide a national currency
for the whole people in the form of coin,
treasury notes, and national bond bills,
and the poorer 10 make notes Of the gOUer1a-
ment a legal tender," and that in the per
Torrance of this trust, it possesses the
choice of whatever means it may regard
as conducive to the end. From this
power springs the authority to enact the
measure recommended by the Farmers
Alliance. The power has been asserted
in twenty-four acts of Congress, begin.
ming with the administration of Wash.
ington and coming down to the present
time. Here Mr.. Barksdale cited the
opinions of jefferson, Madison, Jackson
Polk, Calhoun, and other great lights in
the political firmament.)
The Senator has selected a clause in
one of the bills, presented to Congress,
providing that managers of warehouses
should be elected by the people, and
pronounced that clause unconstitution-
al. Well, what if it is? Does that con-
stitute an objection to the system? Don't
he know that it is easy to substitute for
it, provision that the manager
shall be appointed by the President
But it so happens, that the bill which
was introduced into the Senate by Mr..
Vance, and was referred to the commit
tee of which Senator George himself is a
member and which was imprisoned in
his committee room and was never re-
ported for discussion, did actually pro-
vide that the manager should be APP
pointed by the President, and is there
fore free from the objection he raises.
Other objections are urged by the
gentleman. LIST. That the bill provides
for a loan and that Congress has no
power to make loan for private pur-
poses" Call the measure by what name
YOU please, its real object is to provide
an increase of circulating medium. But
even if it contemplated a loan in the
literal sense, the gentleman and other
opposers of the system are precluded by
their own acts from raising the objec-
ton. Congress had made numerous
loans dating far back and coming down
to the present time. The Supreme Court
of the United States, as the Senator
admits, has decided that the Constitu-
ton authorized Congress to make loans,
notably in the case reported in U. 5.
Reports, "a, Otto 4, p 500, Chief Justice
Waite pronouncing the opinion. And
the Senator himself, in 1884, sup
ported bill entitled "An act to make
loan to aid in the celebration of the
Worlds Industrial and Cotton EXPOSE
ton" In the face of these precedents
Imay say in defence of them-in his let
ter to the Carroll Alliance, he says that
the power to lend money is not ex-
pressly delegated, and there is no pow
er expressly delegated in which the
power to lend money is necessary and
proper for its full execution.
But he says in his latest letter, his
letter on the constitutionality of the
measure, that these cases are not in
point; that he admits that the Gov
eminent can make loans for public
purposes and in proof cites num-
erous judicial decisions. Ii the Al
lance plan really provided for loan
this admission would be to establish its
constitutionality, because it does not
propose legislation for private" but
for the most important, public pur-
pose"--viz the performance of the con-
stitutional obligation to provide cir
culating medium for the business of the
country. If that is not
"PUBLIC PURPOSE"
of transcendent importance, in the name
of common sense, what is? Creating
money for public use is one of the es-
sential attributes of government and
the duty is especially enjoined upon
Congress in the Constitution. The gov
eminent could not exist without exer-