The Lexington dispatch. [volume] (Lexington, South Carolina) 1870-1917, 1894-05-30

voluntarily to be 20 bound. No oaths
are administered, no pledges eAacted, as
arequisile OF party fea!tg. Ifthere were.
I would never attend caucus.
In regard to demand first Of the AL
lance, will say that the s9b-treasury
plan has been abandoned because it was
found TO be impracIicable and uncOn-
stitutionaI, and therefore it Is unneces-
sary to discuss it. In my judgement
a "better system" would be attained by
the repeal of the ten per cent. tax on
State banks OF circulation, and | trrst
that the Alliance will take that up and
make it one OF It's demands / cannot
of course, discuss this proposition at
length in this connection, bat take the
liDrrty of handing you Que of my
speeches delivered IN the Senate at the
Last extra session. III which have at
tempted to elaborate the argument 10
favor of the repeal, aud bHg you TO do
me the favor to examine it. | think
you will lind that If this tax should be
repealed We would have "a safe, sound,
f~xlo curren"y" and euougn Of it.
favor "the free and unlimited coin
age of silver and gold at tne IrtseDt
legal ratio Of l6 to l." and advocated it
IN Coz gIess before the Alliance was Or
ganIZed, and am gatlied TO know that
the Alliance has aGopted my platform
on this subj-ct.
Fifty dollars per capita i5 not too
much currency for country ike ours
but the trouble with our present tin.
ancial system is not so much the Der
capita amount Of currency as the un-
equality of its distribution. Some
Sections of the country have much
more than $50 per capita, while IN our
section. doubt If we have 50 per capt
ia. in our s. ate we could be guar
anteed S20 per capita, If so much was
necessary for the transaction OF ouI
business, | would compromlse on that
we should then have about $4,000, ,OOC
Of currency IN circulation IN South
Carolina, wh; as [ doubt if We now
have S2,0OO000. If, by the repeal OF
the 10 per cent. tax, the States should
be permitted d to authorize bar ks of cir
culat:on, we should have just so much
currency as our local wants require
and no more-but We should nave
enough.
favor an income tax and shall have
an opportunity of voting for 1t in the
pending tariff bill. l concur in the de-
mand that the money Of The country
should be kept as much as possible IN
the hands Of the people, and that al
national and State revenues shall be
limited to the necessary expenses OF
the government, economically admins
tered" This is good, sound doctrine,
and 1 heartily snbcribe to it.
can see 10 objection to "postal saw
ing banks" although measure Of that
kind would be largerly tentative in this
country, and should be adopted with
caution and circumspectlon.
The second general demand, as to the
public lands, is sound and in accord,
ance with true Democratic principles.
Tbs third general demand; 'that the
government should own and operate
the railroads in the interest Of the peo
ple," and that "the telephone and tele,
graph should be owned and operation
in the interest Of the people" would
in my Judgment, be impolitic and IN
wise.I have always understood that the
Alliance was opposed to the further iE-
creaes of the bonded debt OF the gov
ernment, and I agree with the Alliance
in that proposition, The government
could not pay cash for the one hundred
and ninety odd thousand miles Of rail
roads, and the vast mileage Of telegraph
and telephones. The rate CT taxation
necessary to raise the cash would de5
troy the people, and the only alterna'
tive to put the government IN oWEet-
ship Of the railroads, telegraphs az d
telephones would be to issue eight bill
lions of bonds to buy the railroads, and
| no body knows how many millions to
buy the telegraph and telephone system
of the country. Is the Alliance prepar'
ed to urge the creation Of such bond
ed debt upon the present and future
generations, and thereby prepetuate
the national banking system iDdefinit-
ely? Ifso, cannot go with 1t. The
government now has control and super
| visen of the railroads by and through
the Interstate Commerce. Commission
| and the experiment has not realized
| the expectations of its friends. The
| ownership of the railroads in dispotic
governments is justified on the ground
that they are military necessities fol-
the rapid moblliZa'ion anG traDsporta.
tion of armies 1t has not redounded
TO the interest of the people, for freight
rates are so per cent. higher in those
countries than in this, and they are
consequently great burden upon the
masses of the people. l believe have
now made full and complete answers
to your inquiries, IN general and in de-
tail.
If anything has been omitted, will
gladly supplement what have said, IT
YOU Will call it to my attention.
Very truly your, M. c. BUTLER.