The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1891-08-05


Senator Butler then gave history of the national
banking system and said that man could not be con-
sidered less patriot II be owned bank stock. do
notoppose the national banks because they thieves
contract the currency and extend 1t to suit specula
tors, because they do not do this. You put your
money in national banks, as you would In cotton or
mules, for the money that you can make out of 1t.
The speaker was again asked the question If the
government did not furnish the banks money at per
cent.
Senator Butler-No, sir. The government taxes
them per cent on their currency and the per cent.
pays the expenses Of the printing Of the bills
The same questioner again asks-I complain thst 1t
Is not right for the government to issue that money at
per cent to the banks, or any other corporation.
Senator Butler-The government does not do II.
bis money into the treasury and buys the currency;
he buys 10 per cent less than he pays In. The gov
eminent charges him per cent. on that currency to
pay the expense Of printing the bills. am opposed
to national banks for different reason, because the
national bank system puts the sword and the purse in
the same hand 1t gives the executive Of the govern
ment too much power over the finances Of the coun-
try. That is the ground Of my opposition. The ma
tona bank said TO time ago that II some Sc
curty for currency could not be devised the national
banks would have to &C. said there Is but one way
This generation has paid Its share Of the public debt
WHAT BECAME OF THE MONEY.
want to take issue with my friend, who says he
believes that $G0 were sent out Of the treasury
to put II ont Of the power Of the government to buy
the bonds which will fa due the first Of September.
! can give him better reason than that. The billion
dollar Congress Of the United States stole the money
out Of the treasury There was no appropriation left
after that billion dollar Congress got through with the
peoples money. /. went to the pensions and Jobs,
which they preferred to pay rather than the bonds
AMENDMENTS TO THE sUB.TREAsURY.
! have some suggestions to make to amend the sub
treasury BILL The first is to reduce taxation from
Sc or GO per cent ad valorem to something like 10 un
der the Mills bill would strike out all after the en-
acting clause of this bill 260G and would insert the
Mills bill, which reads something like 40 per cent.
This is the way would amend this BILL No one ever
approached me to amend the bill.
Congress- at the last session, increased your tariff
taxes from IS ad vaorem to l02 ad valorem and yet
have heard 1t said 1t does not hurt.
The next amendment wonld make would be the
reduction Of the expenses Of the government In
stead of expending and appropriating one thousand
million of dollars as the last Republican Congress did,
would reduce 1t down to one-half that. The third
amendment would Insert In q second bill the abso-
Lutte unlimited free coinage OF silver and the next
step would take would be to repeal that provision Of
the national bank act which imposes tax Of 10 per
cent on State currency.
LET THE STATES ISSUE THEIR OWN MONEY.
My friend says that six corporations and ten men
can get control of one billion dollars Of the money. l
think it likely that they could 60 beyond that. There
whole Of 1t. That is what object TO- want to put
It out Of their power and let the States issue ther
currency.
The used 10 be liable to three times the