Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-02-24
Senator Jester Disoourses oil
Them Adversely.
REGULATING RAILROAD BONDS,
The School Bin sun Up-Mn Breeding
Wants Roads,
Mrs. Collins Advocates the nni for th'
Fulieu Women's Home ~ Fort
worth rhe Cemmtteo
Arc for the uri.
oAR 1TE BUREAU, }
tttN Dapitoi.

NNhA hHAAtN.i 1
Austiu. sex., sch ~
The state bank qnostioa ls receiving
the closest attention Ia both the house
and senate.
Senator Jester. author Of the amend
mont passed hy the senate is an especially
close student of The subject
Tic Gazette correspondents caught MN
dofcnsclcss Va "a corner to-day and pro
rcedcd 10 unvUil his Utmost Thought re-
lativc to state banks
"a recognize the fact," snld senator
Jester "thut their statc bank question 10
one 81 great Importance, and have not
approached IL without due elaboration
and the most careful consideration, The
measures adopted by the scnnto ! be.
icyc contains all that can I've safely aud
II notice" remarked The Cnzctto
representative that your joint resolution
only provides fOr banks ol discount aud
deposit Some people thuk the hrni-
ocrutir narty fnVOrs banks ~ issue,
Possibly so wis the reply "put /.
do not think the purity nyuu any such
thing There is nothing pa ctior the
national or state Democratic nlntiolm
that commits the party to state banks
of ISSUE The national platform only
declares for the repeal of the ten per
cent tax on 1 state bank notes, rms
simply means acknowledgements witch state
rights in the matter The Democratic
state platform can be- construed ns iNvot.
ing either banks of discount, deposit aud
issue hut it W. not nledked 60 banks ot
issue. aud does NO, demand their osmb.
lishmcut'
Are You opposed 20 the establishment
OF state banks ~ issue, outside of POI
liticul confederation
~ certainly am-'thc federal coustl-
tuition very clearly and wisely defines it
III. a.. q sl sftN
uQno 10 furnish the money for the en-
tire nation Therefore "a state bank could
not lumllly Issue money. such iHauVa
would simply he ornamental promin4nry
notes such az any lirm on individual
rould issue Regarding this matter the
federal constitution says, iu effect, that
money iH an article in "a milton, which u
debtor can telnlor 10 a creditor IN pay
men of debit and iOrcc him 10 accept
hut t must Boz % lCgd tender state
bank notes. not houg recognized 49,
money hy the federal constitution. would
not be- legnl tender in payment Of
debt Therefore thoy could not De- issued
f0v that purpose"
"Whr ~. you think would be- the re-
nlt of the establishment OF state banks
Of ismcF
III state banks of Issue were orgnni1.
3D. with an these federal constitutional
prohibitions declaring that the notes
HHucd 10y such hnnks were not lclnd
tondcrs, then creditor could refuse %
accept such notes from ID debtor IN pas
mcnt uf debt aud demand IN leu thereof
such notes ns We're recognized ne legil
tender money by tho federal constitution.
llh' would create cnotic financial
condition which would De- nR purniciouH
I'm effect az WIS the ease WHOM the wild
eat and cred dog bank money WIS iu
circulation The only way 10 avoid this
d. 90 establish Muuply state banks Of
discount deposit ana exchange, leaving
the isruiup 0l motley e the general
government whore d belongs"