The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1891-08-04

AlLAO ~
cuss something tangible, not a floating
vapor. (Produces biil) Icaunot con-
scientiously support the hill. There is
not man in this audience who has not
intuitive principles of home rule and
self-goyernment. Every man has this.
No man would submit to his private
affairs being troubled. Communities,
municipalities, counties are governed
by 1t. No county would tolerate dis.
turbance of It's affairs by outside
agencies. A step further, this applies
To the State as well. The Federal Gov
eminent is supreme but 1t cannot. dare
not. dictate to a State Government.
This bill then is opposed to this princi-
pie. This advocates the perpetuity of
paternal government.
He first discussed the ware house
system. Every county must be able to
deposit productions to a value not less
than $500,O00. Every county would
not get a ware house. Newherry. your
own county, could not get in Horny,
Pickens, Barnwell, Beaufort, George.
town and Lexington would not be ON
the list. L like to meet a fair man like
Mr.. Stokes, and have the thing he de.
mands-a remedy also.
| through. In the section where it pro-
vidts for a manager to take charge of
the sub-treasury he commented as fol-
lows:
Do you know who wonld be chosen
in the present state of affairs? A Re-
publican would be selected as manager.
l know Edgefield's man. A mulatto
would probably govern tyrannicalIy
your sub-treasury here.
Voice: Go ahead, General.
In Section 1t gives the manager the
right to grade prodncts-he alone the
final arbiter. What chance would a
poor man or rich man either have un-
der such circumstancesp The grade of
cotton and corn would come down to
nothing. Where would you be with 80
per cent Of your products value in your
pocket?
Talk to me about tlexibility of cur
rency. When do we want money most ?
Is it not in the springp According to
this the money shall go back to the
treasury at the very time it is most
needed.
In Section IL it Is provided that
$5O,OOO,OOO be appropriated to carry out
the provisions Of the Act. Is it for
building ware houses2 Some say that
the Government should Issue money
directly to the people. But the Consti-
tuition is in the way. Money cannot be
issued unless by appropriation by Con-
gress, and that provision was put there
by the wisdom and sagacity of the
farmers to protect the people against
dishonest officers; to protect them
against just what this bill wants.
The sub-treasury bill would not stand
ten minutes under the Supreme Court.
State Senator Keitt: Was the New
Orleans Exposition appropriation made
in this wuyp
Senator Butler: 1t was appropriated
by the general welfare clause or the
blanket clause of the Constitution.
Congress has a definite specific power
and can appropriate for any national
affair. There have been, however, ap-
propriations especially for suffering
The Secretary of War cannot lend a
tent or IA gun, the Secretary of the Navy
must hold his peace unless authorized
by Congress. Yet this bill wants to
lend money direct to the people.
This same objection of the uncer-
tainty OF the amount of the appropria-
tion is against the force bill. Not
withstanding Mr.. Stokes's statement to
the contrary, Mr.. Calhoun never con-
templated lending money direct to the
people. The treasury is not u bank,
|
disbursements. l want to borrow
money from you at 2 per cent. We
have losses and all such losses W i'll be
made up by taxation. Yet this is what
you wish.
Mr.. Stokes: 1t does not give special
privileges to farmers. There's the fault.
1t ought to-.
We have among us three classes of
men: First, the man who neither bor-
rows nor loans money; second, he who
lends money and lives on the interest,
(and he has right to do this0 third,
the borrowing class. Now, don't cali
a man who lends money rascal, for
1t Is his right. Glass three can be sub.
divided as follows: First, one who bor-
rows and returns what he borrows;
second. one who borrows and by un.
fortunate circumstances cannot pay
his debt; third, one who borrows at
any price, and never intends to pay it
back. This last class Is the one who
wants to borrow at 2 per cent. Seven
per cent Is the standard Of interest and
z per cent Is entirely too low. [Cheers.
State Senator keitt: General, do ma
tional banks borrow from the Govern
next at per cent?
Senator Butler explains: No, nation
al banks place their money in the tree
ury for the notes they circulate. n 4e
per cent Is only a tax. e.
The gentleman urged his question
again, claiming desire to be accurate,
and the Senator explained again, going
into details. Yet the gentleman's per-
ceptiOn was very obtuse. .eaIs,
Gen. Butler: can give man ,cts,
but cannot furnish him understand
ing. [ am opposed to national banks,
but not as Mr.. Stokes. They are the
outgrow1h of the war. They were es-
tablished to put down the war. Here
a history Of national banks was given. |
Is a man any less patriotic because he
owns q national bank stock? / don't
oppose national banks because they are
thieves. You put money in them to
make money out of them. National
banks do not want currency. State
banks want 1t. l am opposed to the
present system because a national bank
puts u sword and purse in the same
hand and gives the executives of the
government complete control.
Senator Butler took issue with Mr..
Stokes as to the reason Of the disap-
pearence of money out of the treasury.
The money was stolen. Ask the billion
dollar congress where 1t went.
Now for my remedy
First, Have a reduction OF the tariff
from 81 to 60 per cent ad volorem to
something like 40 per cent. could
not make any amendment to the bill,
| for never saw it after It, got I'm Com