Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-09-07
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Il Chairman Springer, OF the commi1
> tee on banks and currency, ha
temporarily forgotten very importan
> plank in the Democratic platform. viz
the positive recommendation for th
repeal OF tho 10 per cent, tax on stat
bank notes. Mr.. Springer is quoted a
: saying:
81 do not believe the committee vii
!, report a bill in favor of the repeal Q
the tax ON state banks. / do not be
!, lieve in going back to the days of tn
| old stat. banking system and of bein,
compelled to have forty-four differen
! kinds of currency in this country. TIL,
removal of the tax on state banks ani
y the re-establishment of the old system
} would be an obstruction to business, /
for one, am against it and do not be
lieve such abill can pass. / favor ,
stable currency, good alike in all tn,
states. accepted without question every
} where and familiar to the people and
4 printed upon such paper that counter
feits can be readily detected. Any
other currency is an obstruction tc
business and shall oppose it. y
/ Against the individual opinion o1
Mr.. Springer we have the outspoken
verdict of the national Democracy for
the re-establishment of state banks.
This recommendation solemnly formu-
lated in the Chicago platform, cannot
be ignored. We cannot fail to redeem
that pledge and other pledges without
breaking faith with the millions OF
voters who placed the present admin
istration in control of the government.
| What sort of stable currency does
Mr.. Springer adyocatep Does he favor
1.-THE creation of new debt that would
Iperpetuate the national banking
monopoly or result in the issue of a
flood of greenbacks? What does he
mean. where is he at?''
+ But Mr.. Springer fears that state
bank currency would be an obstruction
to business. This statement is COM.
pletely exploded by the object lesson.
This statement is completely exploded
by the object lesson now before the
people. At the present time the4con-
traction of currency in the hands Of
few capitalists in the east, under the
workings Of the national banking
monopoly, is such tremendous
obstacle in the way Of business that
the people of the south and west. and
even in the east, have been forced to
provide a substitute for local currency
in the shape of certified bank checks,
city and factory scrip, and shinplasters
issued by individuals. This local
paper, instead of being an obstacle to
business, is all that keeps business
moving. It has saved the country.
Mr.. Springer and other opponents OF
state banks must be short-sighted in
deed if they do not see in the beneficial |
results of our substitute for local cur
rency an unanswerable argument in
l<1SOI VI q pCtHfuuSus sSuN we'll iOS uA1sas Il
e1 currency issued by local banks.
chartered by state authority.
The state bank plank in the Demo-
cratic platform must be enacted into q
law.
Because the present pretended tax
% state bank notes is unconstitutional,
It being imposed, not to raise revenue,
out to paralyze the vital faculties and
powers of the states in the management
ind administration OF their internal af-
airs.
Because, without state banks, we
must create new Dor lied debt for the
OF the national bank
monopoly or iely upon government j,
ssue of notes, when the redemption of
ur outstanding bonds causes the ex- II
inction of the national banks. m
Because the experience Of the past
as shown the tendency of the conges-
ion of our national currency in the
asst, leaving the west and south with
ut the means OF moving their crops or 9
laking the exchanges that constitute
usiness. .
Because the currency of the country !
lust be more equally distributed under i
system of banking that will not dis g
riminate against the agricultural dis-
lets in favor of the commercial con- !
RS. i
Because we are now able to throw 5
rem better safeguards around state y
anks than before the war, when. ID :
le language Of Senator Vorhees. mo J,
an, woman or child ever lost 8 dollar 8
I the depreciation Of the notes Of = Itl
'guiarly chartered state bank. or its &
'ilure to redeem its currency ID gold =
silver when called 10 do sos' the de-
reciated or worthless notes IL those
sys being the issues 81 so-called freel
lnks or individual concerns