The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1894-05-23

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Ii have attended Democratic caucuses
since I have been in the Senate, ou'
nobody ever dreamed of binding any
member of the caucus to vote against
his Judgment. For instance, Democrats
and Repu blicans differ widely among
themselves on naucial questions. A
| caucus is held for consultation and
financial topics are discussed, butin the
Senate and House each man votes as
! his Judgment dictates; some may favor
the free and unlimited coinage Of silver
at one ratio or another; some may
favor the sub-treasury plan OF the ALI
ance, and after consultation ln caucus
they vote for or against either PROPOSE
ton, when the occasion arises. Nobody
is bound by the caucus unless be choose
voluntarily to be 80 bound. No oaths
are administered, no pledges exacted,
as requisite of party feIlty. II there
were, i would never attend caucus,
In regard to demand first" of the
Alliance, I will say that the sub-treas-
ury plan has been abandoned because
it was found to be impracticable and
unconstitutional, and therefore it is un-
necessary to discuss it. In my Judg-
ment a ''better System" would be at
tanned by the repeal of the 10 per cent.
tax on State banks of circulation, and l
trust that the Alliance will take that
up aud make it one of its "denands."
| cannot, of course, discuss this PROPOSE
ton at length in this connection, but
take the liberty of handing you o1e OF
my speeches delivered in the Senate at
the last extra session, in which have
ATTEMPTED to elaborate the argument in
favor of the repeal, and beg you to do
me the favor to examine it. think
YOU will find that if this tax should De
repe aled we would have "a safe, sound,
flexible currency" and enough Ct it.
I favor 1.-The free and unlimited coin
age OF silver and gold at the present
legal ratio of 16 to l." and advocated 1t
in Congress before the Alliance was
organized, and am gratified to know
that the Alliance has adopted my plat
form on this subject.
Fifty dollars per capita is not too
much currency for country like ours,
but the trouble with our financial sys-
tenn is not 80 much the per capita amount
of currency as the inequality OF It's
distribution. Some sections OF the
country have much more than $50 per
capita, while in our section, doubt II
we have 81 per capita. If in our
State We could be guaranteed $50 per
capita, if so much was necessary 1or
the transaction of our business,
would compromise or that; we should
then have about $40, 900, 600 of currency
in circulation in South Carolina, where
as doubt if we now have $2,OO0,OOO.
If, by the repeal of the 10 per cent. tax,
the States should be permitted to au-
thorize banks of circulation, we should
have just so much currency as our local
wants require, and no more,-but we
should have enough.
favor an income tax and shall have
an opportunity of voting for it IN the
pending tariff bill. / concur IN the
demand that tee money of the country
should be kept as much as possible in
the hands of the people, and that "all
National and State revenues shall be
limited to the necessary expenses OF
the government, economically admin
istered." This is good, sound doctrine,
and heartily subscribe to it.
can see no objection to postal saw
ing banks,n although measure OF that
kind would be largely tentative in this
country, and should be adopted with
caution and circumspection.
The second general demand, as to
public lands, is sound and in accord
ance with true Democratic principles.
The third general demand, "that the
government should own and operate
the railroads in the interest of the peo-
ple," and that 1.-The telephone aid tele-
graph should be owned and operated
in the interest of the people, would. IN
my judgment, be impolitic and unwlse.
have always understood that the a Ii
ance was opposed to the further To-
crease of the bonded debt" OF the gov
ern ment, and 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 of taxation
necessary to raise the cash would de-
stroy the people, and the only alterna-
tive to put the govirnment in owner
ship of the railroads, telegraphs and
telephones would be to issue eight bill
lions of bonds to buy railroads, and no.
body knows how many millions to buy
the telegraph and telephone systems of
the country. Is the alliance prepared
to urge the creation of such bonded
debt upon the present and future gen
erations, and thereby perpetuate the
national banking system indefinitely:
If so, cannot go with it. The govern
ment now has control and supervision
of the railroads by and through the
Interstate Commerce Commission, and
the experiment has not realized the ex-
pectations Of its friends. The owner
ship of the railroads in despotic gov
ernments is justified on the ground
that they are military necessiti 8 for
the rapid mobilization and transporta.
ton of armies. It 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 con-
a great burden upon the
of the people. I believe / have
now made full and complete answers
to your inquiries, in general and IN
detail.
If anything has been omitted, I will
gladly supplement what l have said,
if you will call it 10 my attention.
Very truly yours,
NJ. C. BUTLER.