St. Landry democrat. (Opelousas, La.) 1878-1894, 1892-09-03
State Bank Issues.

| Louisiana Review.
The New York Mail and Express
which is edited by that rabid Kepubll-
can, Colonel ~ Elliot l.. Shepard, a
son-iu-law of Que of the Eanderbi)ts
as might be expected is very much
wrought up by the plank in the national
| Democratic platform demanding the
repeal of the 10 per cent tax on State
| bank notes.
This ultra Republican organ and vi
ruleDt supporter ol the policy OF the
Republican party from A. to H., is Ma
turally opposed to any measure that
| would enable the States to establish
banking systems that would )iberatC
them to Il great extent from the Imam
cial system which enables the capital
lists vi the East to control the currency
Of the country at their Will and pleas
ure, aud make the people OF the country
entirely dependent upon them for the
mouey they need to carry on their pur-
suits.
1t tells its readers what nobody dis
putcs. That is, that the national bank
and the treasury notes are all absolutely
safe currency. But it assumes to say
that because the States will be restored
the right to allow State banks to issue
notes, such notes will not be ptope,ly
secured aud that the country will be at
tiicted by wild cat bank currency.
Colonel 90 Shepard should remem Der
that there was a time When even the
United States treasury notes aud the
national bank notes were at IL heavy
discount, hence these very notes that
are now so gilt edged, under contingent
cies that might arise i'll the future as
they have in the past, could again fall
far.below The gold standard.
The States have bonds, species and
other values, that will make as good Sc
curity for the issue OF State bank notes
as the national government itself has to
offer, and in these days Of rapid transit
aud when the banks OF one State do
business with The banks of other States,
it is the easiest thing for Il Louisiana
bank for instance, to arrange with the
banks in New York and every other
important center, to receive their notes
at par, just as they do ii draft. Besides,
ita-man in Louisiana wants to travel
beyond his State and his State banks
exchange their paper for reenbacks, or
give exchange for tue same on the great
cities OF the country, he won't be put to
much trouble to make the exchange be-
fore leaving.
would be that they would have local
money centres where they could more
easily effect loans, and that the amount
of currency in circulation would be reg
ulatea by the demand, as it ought to he.
The great objection to the present
system is that national banks are for
hidden from lending money on real es
tate security. Hence, real estate own
ers have to go to middle men TO get
limited accommodations and Oh the terms
that the middle men see fit to impose.
Thus real estate, which ought to be the
best of all securities, sutfers'a discrimi-
nation that virtually renders it unmar-
ketable, thereby reducing its value.
The national banking system is ex-
cellent to accommodate the borrowers on
paper securities and it is well to pre-
serve it, but there is no good reason,
since it does not furnish Il sufficient
amount of currency for the needs Of all
classes, that State banks should be for
hidden from doing so, or that the ma
tional banks should not likewise be
authorized to issue a State currency on
with State requirements
The uprising that is occurring among
the agricultural classes is in ii very
great measure attributable to the in-
tenn whereby they have been subjected
to onerous cxactions to get the means
to carry Oh their industry.
The Democratic national convention
did wise thing i'll declaring the inten-
ton OF the party to give them and all
other classes the relief that the existing
financial system denies to them.
We deny tho ascertain that the peO-
pie OF the States are not CapablG to pro-
vide themselves with Il good, safe cur
rency, and that Congress alone has the |
wisdom to do it.
OF the Negro Population.
\. .. Picay uuc.
The announcement that has been |
made Ut the forming OF al organization .
10 assist and promote the migra ton of
legroes from. the Southern States to
hose of the North, probably has little
serious Specification Of any sort. Never
;heless, such interstate distribution
would solve the negro question in the
most proper and logical way. 1t would
Destroy its sectional character.
SO long as the great bulk of the pc
gro population is in the South, the sec
iOnal Issue in American politics can
lever be got rid of. The evils of negro
slavery SO wrought upon the national
politics rs to divide the country into
hostile sections and precpitate a ire
1endOus and destructive civil war.
The Imaginary expressions and miseries
uttered by the free negroes have been
Utilized by the politicians ever since tue
lose of the war to maintain sectional
ssues. The negro in the South is the
ole stock in trade of the sectional pol
ticlans. The negro in the North cuts
o figure in public questions.
Obviously it is not the negro, per SC,
ut the negro in the South, that is the
OF all the discOrd. Distri-
ute the negro population throughout {
he Union and the sectional issue dis I
ppears. Then the great panacea for
II sectional ills is to scatter the negro I
Opulation. There is no deportation OF s
lem to Africa, to become once more
,vage aud brutal denizeus of eouato-
al jungles and deserts. 1t would be
imply subjecting them to a system of
lterstate distribution, by which an
luilibrum would be established. If i
,me 5000, 900 or 100000 Of the colored t
eople OF the South could find homes \
orth of the Ohio and Potomac, the +
orthern ahd S outlern sectional is b
les that have 80 long troubled the Re- d
lbllc, and have shaken its very-fo,n- +
ations, would wholly disappear. 1t f
Ould be a joyous deliverance. o