The silver state. [volume] (Unionville, Nev.) 1870-1903, 1892-09-15

Tor the people. | thought verify that
it was most remarkable thing that
these people holding government
securities drawing 6 per cent. would
voluntarily come forward and ex-
change them for per cent. bonds,
and | believe the story so prevalent
on the Republican stump that it was
the love of the bondholders for the
dear people that made them willing
to surrender the bonds; but when |
began an investigation of the matter
and saw that the bondholder received
III this way more interest than he re-
ceived before, then | saw the cloven
foot OF the conspiracy sticking out,
and no gentleman in the house and
no gentleman ON the stump has beer
able to cover it up. [Applause.l
Not only did they intend to put
the bonded debt into a condition i'm
which it can never be paid, but it was
with an ulterior design, and / call
the attention of the republican mem
bers who may follow me in the fact.
that it was the ulterior design, after
having placed the bonded debt of the
country in condition in which it
.tOulN lioO DC pttlil, W lIldht Jllt IItS-
ent national banking system of the
country, based upon the bonded debt,
the great moneyed monopoly for all
time to come. | proceed to prove it.
The comptroller of the currency,
in his report, for 1876, uses this Ian
guage:
1t was shown in the report from the dis
cussion in congress at the time of the pas
( a a nj thn
OF di fferent secretaries of the treasury, and
from the uniform legislation since that time
that the national banking system was in
tended to be permanent, the institutions
organized under it being by the express
term of twenty years; while ii was equally
evident that the treasury notes issued and
still in circulation was intended to be
funded
Now, if the national banking system
was intended to be permanent, then
of necessity the bond system must be
permanent also, for the former rests
upon the latter. If you pay off your
bonds, what becomes of your national
banks? You cannot have national
bank without bonds. If the banks
are to be permanent, the foundation
must be permanent also. Hence VOC
have engrafted upon the government,
as another step in the great conspir-
acy, the system ofpermanentn national
banks and permanent national debt,
the banks resting upon the debt; and
from the law of self preservation, il
for no other reason, these corpora
tions will forever exert all their
powerful and consolidated influence
to keep alive the system. To enable
them to effectually do this the laws
Of congress have placed in their hands
absolute control over the volume of
our currency.
Mr.. Sapp-Will my colleague yield
to me for a question?
Mr.. Weaver-With pleasure.
Mr.. Sapp-Is not the existence oj
every national bank in this country
limited by law?
Mr.. Weaver-When the bank act
was passed it provided that national
banks should be chartered for twenty
years, and the circulation was limited
to 1854 ,000,0 But your resump-
ton act of 1875, provides that there
shall be in this country free national
banking and unlimited national bank
issues.
Mr.. Sapp-But does the gentleman
pretend to say that the free national
bank law allows the national banks
to exist without limitation as to time?
Mr. Weaver-No, they are still
chartered for twenty years.
Mr.. Sapp-And then will not the
national banks expire in twenty
years from the time that they are
Mr.. Weaver-It does not limit the
time during which national bank
charters may be issued. AS long as
that law is on the stutute book there
is perpetual right in this country
for the chartering of national banks
Can the gentleman understand that
AS the law now stands there are
about as perpetual as the human
family. The Almighty says that the
days of Il mans years shall be three
score and ten. Was it the intentions
that at the death of my friend the
human family should cease? [Great
laughter Not at all. One national
bank will be chartered to-day, and
will die next year, or in due time, and
then another will spring up. As it is
Abraham begat Isaac, Isaac
begat Jacob, and Jacob begat twelve
sons"
Mr.. Townsend of Illinois-And the
new national bank win have the same
stockholders as the deceased bank.
Mr.. Weaver-If the gentleman
saws that there is a limitation to the