The times. [volume] (Richmond, Va.) 1890-1903, 1895-05-26

In discussing the decision Of the sn-
preme Court Of the United States In the
income-tax case a few days back. Con-
gresham Maddox. Of Georgia, said
.eThe decision opens up some interesting
nolnfs. Under the law as laid down ny
the majority Of the court IL IS hard 10
understand what right Congress has TO
low a tax on state banks. II an issue
were raised on that, however. and the
question should come before the Supreme
court. there are very few OF the thous-
ands who would Ike 20 see this tax
abr0gated. that would expect the court 10
decide that the tax was unconstitutional
II ought to be as Mr.. Maddox thinks IL
IS. but the war ongraftcd upon our instl-
tutons a new doctrine Of constitutional
law. that must be overthrown before any
such conclusion as IS pointed out by him
can be reached. The Constitution provides
that Congress shall have power TO "coin
money and regulate tho value thereof
and IL has absolutely no other provision
in relation 10 the subject The necessities
OF the war. when the Constitution was
wholly set aside. drove the supreme Court
this provision gives Congress a power 20
control an the Issues Of paTcr currency
that are made IN this country. IL is q war
decision. of course and # is totally OPP
posed to the whole history OF our insu-
tutions IL is monstrous and absurd
pervorsion. too. Of the language Of the
Constitution. II IS bald nonsense 10 say
that an authority 10 coin money and
regulate the value thereof is an author
fly to regulate the issues Of promises TO
pay money that "A corporation chartered
by one of the States may put out. The
doctrine is not only an utter perverslon
Of the Constitution and ncgation Of all
sound financial principle. but IL is the
source Of all the trouble that this country
Is now threatened with. The clamor for
free silver is nothing but a demand Of the
people for the means Of iransacting their
business. which the national bank law
deprives the great body of southern and
western people Of II they had the right
10 charter their local banks and issue
ll4'-i HottHf lilo Noul4 give tlem the
monetary convoniences they are now de-
prlyed OF, and we should hear no mere
Of free silver But the national bank law
denies them this right. and what is more.
the northern and eastern States approve
Of this denial of their right by the IA
tional bank act. The very interests which
most strongly demanded the decision of
the Supreme Court overthrowing the
income-tax law approve Of the national
bank law and Of the provisions OF the
act of Congress suppressing State banks.
MIR. Blaine has said i'm his book that the
war was worth fighting 10 suppress state
banks. and Mr. Blaines constituency en-
dorses the opinion.
II they do not look out they are LAYING
the foundation Of day of wrath for
themselves. II free silver carries this
country In lSs6 it viii bee due TO the pro-
vision OF The act OF Congress that de-
MES the people the right TO have their
local banks of issue If that right were
conceded TO them there would Doe no more
talk of free silver. Tho denial of that
rigAt may possibly bring on the country
all the disasters Of free silver. The north
em people would DO well to ponder on
these facts ana sugge stions.