Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-22

hees denied the constitutionality OF the 10
per cent tax on state hank circulation. even
had reached such a conclusion. and argued
Tor the right OF the state 10 provide its peo-
pie with circulating medium through the
agency OF state banks
supposing that this state bank tax had
oeen repealed. Mr.. voorhees, asked. what
IN that event should Congress dog lie did
= ns,,prst .ne government ever TO abandon
Don the system OF national banks but he
Go expect at no very distant day that
nlted states notes as are now and have
been In existence for thirty wears past
tneir payment guaranteed hy the honor OF
.ne government would supersede all other
nhauOns money except gold ana silver: and
that without jar or friction they would cir
cuiate In the hands OF the r,.ot,le aloneStde
OF the weli-guarded. safely secured cur
rency ISSUED hy the states and guaranteed
according TO the Constitution nv hoth the
precious metals. The great value OF state
is,aS money ~, was and ought 20 be mainly
.9eaL ~ would Increase the home clrcula-
Ton ana the home Accommodation Of every
agricultural community on American soil
,h Mess sa. II should be the plain duty Of
the FEDERAL government 90 issue its own un-
assaiiaole notes by retiring much ~ fts
present outstanding currency and also NV
the payment Of Its debts. and 10 issue Them
IN amounts equal @ the requirements OF
trade as nearly ascertained as possfhle
pnsarlns within them the breath OF national
the American Union: uniform IN value fr,,,
Maine 10 Alaska. and their faces as veil
known as the nag wherever ries that en-
pIenn or the power and slory OF a united and
fraternal people. Those who lived 10 W.T.
ness the adoption OF this policy would Mr.
noorhees Thought. look upon the safest,
suohgest and most beneficial system OF
nnance ever before known in American MIS-
Tory. IL had In u the clements with which
20 acSethplsh these paramount and indis-
pensable features Of all sound financial
legislation.
Mr.. Noorhee.' Plan.
flrst sufncient volume OF currency at
all times. state and national on practically
specie basis. guaranteed also by public
honor. with which to transact the growing
and expanding business Developments OF
the country.
Second. The absolute denial and destruc-
tion OF all power in the hands OF individ-
uals, corporations or syndicates TO cause
fluctuations IN amount OF the different cur
rehcles IN circulation. thus rendering panlcs
ana business distress impossible for the
future.
Third. Every dollar in circulation. whether
sold or silver, state bank paper or United
states notes. On a strict parity and inter-
changeable with every other dollar thus
securing TO the people the benefits and adj
Nahtages OF both a state currency and q
national currency. circulating In harmony
and uniformity and performing all the
functions OF money at home and abroad.
Fourth. The settlement OF the Vexed ques-
ton OF silver money at once and forever
by authorizing II to form its portion OF
the specie basis required by the Con-tftu-
by recognizing IL when defining the powers
OF the states 10 make legal tender money,
thus making the use OF silver. coined INTO
money, as Imperative IL viii Ice useful
TO the great body OF the people.
fifth. The total and complete overthrow
OF the dangerous Centralizat ton OF the
money power now existing at few mt ney
centers and in the hands OF a few indi-
viduals by giving To the people OF the state
the right of home rule on the subject Of
money. and thereby securing 10 them a re-
liable. Notwithstanding home circulation.
To these I've propositions MIR voorhees,
added but one mora carefully adjusted
and graded Income taxa most eluiiah
and upright measure in providing govern
ment eNenue. and demanded by old-fash-
toned etc nal Justice
In conclusion Mr.. voorhees, said: And
now. in the meantime. and In view OF the
present crisis. fun Of peril Il H.. let the
whole people Of the United States Of every
commonwealth and OF every neigh borhooi
cast Out their fears and abide Ia an un-
shaken faith that present disasters VIII
pass away. and Doe followed. soon as
muCh-ueeied reforms can be accomplished.
by the unbrpken sunlight 81 prosperity.
and that lie VINO determines the destiny
Of nations viii cause the -.pubiic 81 their
fathers TO win. and not % lose, IN the tran
scendent mission 10 which IL Was dedicated
a hundred years ago"