New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-30
THEY WANT HONEST MONEY
"REMINISCENCES OF DEMOCRATIC RULE

CONDEMNATION OF TIE ii'AN ~
THE OLD STATE BANKING SYSTEM
The article published in The Tribune giving petuie'
and descriptions OF bills issued by state banks yea''
~ updar Deuocratic rule and showing how the
,.uro NJ such banks entailed trouble and cohiusoh
nnon the business community Of the country a' aec'
bas caused considerable comment aWohs 'ie o
moss men OF the Oranges, In Essex county, view"
sew The article read with much atteht"h anu
freely discussed by OF both parties and reehuioS
OF political ailiation there Is strong cohueih"a'
among the business men Of the Oranges OF the pahh
In the Democratic platform favoring return 10 uie
old state banking system
At Arlington ave and Main-st., Fast Orange, hangs
a Democratic banner which bears this hiScripuoh
Tariff Reform. No Force Bill, Honest Money The
LATTER clause In view OF the utteranceS III the Deio
cratic pa form In favor of returning to the Old system
nj Stale banks has caused considerable comment
omon,, the business men In the Oranges. group oi
business men discussing the Inscription OH 'ne
Democratic Standard the other day, ana huhioer Va
sarcastic comments were made upon IT, ole Vi 'ne
marty remarked Here's richness for YOU iiones'
moneyp Well, that is good. Did you see Inc
Tribune OF sunday with its pictures ana desciiPuons
OF the kind OF honest money we USED to have IN lhe
GOOD old times when the Democracy ruled the lahu
and State banks were being founded every day anu Ut
the same time other banks were going up anu ie
Ing the holders OF their bills out OF pocket Ina.
Democratic money. 1t was the Republican party
that gave Us honest currency. Gan IL pe '"a' "''
honest money to which this Democratic Dahhei ~
fes Is the old state bank currency =
t,zra = Williams one OF the leading business men
~ Orange nm active worker for the Republican parry
said Blaine, In his letter to Joseph H. hliHes
published recently wrote these woruS' WIN III" 10
calamIiies the brought Us one great n"S"s'
yo,,onoI currency There are many who Will say
that Il WIS worth the cost OF the war 10 Dris "oo"' ~
ausplcous n result to capital and labor Prior 10 'he
Ind fhp
uyhtened nation In the world. The State BANKS WIN
.oue cNccp ions were thoroughly irresponSipn lucy
existed by the thousands throughout the Oh'eu sa'S'
Whenever one OF hem failed, the result was large
l,.s and great distress among the people No o"'
was responsible for their bills and they were goh'
orally found scattered in the pockets OF aDohs men'
,o whom they were total loss, without any re-
d.nptI,n Whatever 1t Is matter iOT eAlrdor-
binary surprise that the Democratic cohVehuon
should deliberately pass resolutions for the rcV Vi
State banks. -,
Now here said Mr. Williams is 81 Dill from
a bank in Blaines town. 1t Is me specimen VI
the engraver's art II has the coat OF arms OF hhhe
in the centre figure five In roScttes on each Sue OF
tho conf Of arms: the word Five In the upper lett
hand corner; W I'm the lower left and upper rght
corners ON the left f. vlgnctte OF benjamin rr'A
lin and on the right one OF William Henry HARRISON
both the DISQUALIFICATION OF honesty ana integrity Inc
body OF the bill reads follows: The president
Augusta state Of Maine, will pay - on demand 10
/ ncu or bearer This bill Is dated February D.
saI and signed by s. c. Iangd0n, cashier, ana w. u
Johnson president At the bottom OF the Ola Is
small device showing anchor. typical, suppose o'
homes never 10 De fulfilled, pair OF oars ana soiIe
barrels as empty the banks treasury. TINS pii
,yas one Of A lot Of $3.50 worth received by ifiehu
Of mine forty odd years AGO Inc oahh orohe s'oN
aner and the bill OF was never redeemed, III
s,J,e Of the promise Of he pictures This Is the KIM
~ money asked for by the Democratic PLATFORM
. And here continued Mr.. Williams. rs some Ike
nubl,can money. 1t IS a, - bill Issued under 'ne
National Currency act passed by Republican congress
On II | find these words National currency secueu
by bonds deposited with the Treasurer oil inc oni'u
s,.,es, II f. issued by the Columbian National bnhh
o, DAYTON Washington. The bank X 5000 miles away
-, ,bls hll IS rs good as any 81 gold piece, for nov
,Iv the hank and is stockholders responsible Tor
s redemption but the honor and credit oil the h"on
are pledged for It's payment
Another person In the group sid VIII tel 20"
little experience | had. twenty-five years 'so'
,hInk II was vas messenger In one OF the banks IN
~, ,,v -, xe,r.York frequently received IN my col
,c,,ons Nils Of broken National banks used to take
,h.m 10 the Office OF man by the name OF thompson"
who dealt In fractional currency, mutia''N pis' Wv"
and Whose place II remember rightly was uhu'f Wv
hank Of the Republic, the corner oil bf"u"nS anu
WALL, and there | could dispose OF these bilis oil
II kpu
! nIs was that the entire National bank clreuH''oh
authorized by act Of Congress had been taken up anu
there were many banks that could not Issue "nS Va
their OWN. The only way In which they could DO 10
Vas ly buying up the buls Of broken banLs srholns
tb.n ON Ia Washington. and thereup0n fcelNihs .,hh
Tho controller of tho Currency n c'r'lnca,r WIZ,
.iIovcd them 10 Issue like amoun' OF uhcr wv"
"roday no man ever thinks Of looking a, bank OH
q, .r. by what bank il B., Issued. The money pu,,rs
I'm hnna 10 hand ~ readily n specie would 40 b
= can remember very well gOirg INTO stoT's mn, VT, ~
Crane. with my father aud seeing hin hhu D'ii ~
n t,r,l.eper and then seeing the later 20 Da' III"
- rcc o look Mt The Bank Note Dctcctor 10 sue
a.. hil1 was good II no uncommon .hlhs III
,6s aavs h, hear i can't take THIS OIL, his Dah Nv,
,sIci was only a young boy thrl, pu' wy w" ~,
md. .uch nm impression upon me that "r'c' In
nt Z, and | shall forget, either thr Joy VIZ"
nH,cb nroplr hailed the advent o. the Na'lOhai cur
rcncy.H . - III, . q dor,t want my name
- a. my empnyrf T. u Democrat ana a p'.t
,Jd ne md | might get into trouble but VIII yen
~am = uttlr Incident In my own eAprrlen'' n I,e"o
80 s,i 900 In New-YOrl He had MS money III
nanE I'm Cbrago and Offered his check Tor the amour.
- lie Indebtedness The check was prilFuy EVou II"
e. o.,n in tyicago York II was suhJecl 70
~ n, cent discount This was In 1s3- ana was unno
,hc good old Democratic times, whrh every o''u " a
| 49, 'yn hanks and any one WHO p'fA'u 10 oo -
Ia Start a hank at almost any country cFo's,os,n.
dnnp want 10 see q return To that system, anu ,ur
", rca.nu II for other, shan vote TOT iaF''S""
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