The Lexington dispatch. [volume] (Lexington, South Carolina) 1870-1917, 1894-06-13
i7LAR MAKES a HIT.
A unusual Honor Conferred on H!m by
the House.

A Unusual Honor Conferred on H!m by
the House.
WASHINGTON, June 2.-On motion
of Moses (Dem,) OF Georgia bill was
passed granting pension to Mary lie
wins, widow OF soldier cf the Indian
war of 1917, now nearly 100 years OF
sce, and al inmate Of the poor house in
Carroll County, Ga.
The House, in committee OF The whole
proceeded to the further consideration OF
the bill 10 rep 81 the State bank tax
Act, and then 90 unusal honor was paid
a new member, when Reed (Rep.) Of
Maize asked aud obtain unanimous con.
sent fJr Izlar to conclude his remarks
beeun YesteeQay and which he was un-
able TO coDclu1e because the time al
lotted to him had expired. liar sald IN
concluding:
"Istand for unconditional repeal, first,
because the platform recommends it,
and the people demands II; second, De-
cause I did not iiod the power anywhere
which would authorize Congress to reg
ulate and Dame the securities Or the
conditions on which State banks could,
or should issue their bills. The Federal
government has never undertaken The
exercise of any power over State bank
issues save that Of tsxation; and this, in
nv judgement. is questionable and
doubtful power"
He lhen quoted the sections under
which the tax was laid, and continued:
"lt had long been settled that the
States possessed the power to grant
charters to State banks, that the power
was incident to sovereignty, and that
there was no Limitation in the Federal
Constitution on it's exercise by the
States. This berg 80, to destroy the
State banks which the Stetes had the
right to create and 10 eEcourge not!onal
banks, was the object and intent with
which this burdens 0me and unjust tax js
now imposed. To use the language OF
Mr.. Justice Nelson in The case OF Veszie
vs.. Fenno, 1t IS sufficient to add that
theburGen of tax, while it has encouraged
these banks (oationaD has proved fatal
to those Of tne States; and if we are at
liberty to jugde of the purpose Of the
Act from the consequences that have
followed, 1t is perhaps not going too far
70 say these consequences were intended.
Aud Chief Justice Waite, in the later
case of Hollister vs. Mercantile Instltu.
tions said: THAT it was no doubt the
purpose Of Congress IN imposing this
tax to provide against competition with
the established national bank currency
for circulation as money. The mere
fact that Congress saw fit to enact these
stringent and unjust laws, laws Of
doubtful constitutionality-is a very
stro0g argument in favor Of the State
bank system and of the value Of their
currency as circulating medium. The
laws which regulated banks in South
Carolina at the time when the banks Of
that State gave safe and flexible cur
rency-a currency which circulated fee.
", not only within her own borders and
among her own people, but IN other
States-are IN their main and essential
features, still to be found upon her stat.
ute books. In some particulars they are
now more stringent than formerly and
consequently must afford more ample
and better security to deposltors and bill
holders.
The Legislatures Of the several States
will see to it Tat they are prot scted
from "Wildcat" banks, from over issues
and from unfaithful and dishonest Off
cials, 80 far as these evils can be pro-
vided against, by strict laws and careful
supervision. We should not hesitate
by reason of these apprehended dangers
to tie business public to come up to the
full measure of our duty by blotting out
from the statute book this law, which
has borne so hard on the South and West
by DESTROYING our banking institutions
and crippling our resources. The pee.
pie have demanded it, our duty is plain,
will we do lt?"
At the. conclusion of Izlar's remarks.
Euloe DAM of Tennessee explained
that the motion he made yesterday to
lake up bills on the private calendar
was not made in antagonism to the pend
ing bill, for he was in favor Of It's pas.
sage.