The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1895-01-16

ers. the legislators, the executive
officers Of the Observation-Disclosures
ed by all as insufficient as to this es
senti4' quality Of elasticity. be-
lieve that t'le system proposed in this
bill is an improvement in that respect
on the existing system.
2 This plan looks to taking the
Government out of the banking busl-
ness. If you desire to separate the
Government from Wall street, and
the influences of Wall street, let the
Government keep out of the business
that belongs to Wall street Let the
Government pursue its own proper
and legitimate functions and turn
over that which belongs to Wall street
! to Wall street, and to the people OF
the whole country.
The suggestion that the new sys-
tenn looked TO taking the Government
out of the banking business provoked
question from Mr.. Denson as to
whether Mr.. Black thought it was the
duty of the Government to provide
the people with currency; and
whether his position is endorsed by
all readers of The Chronicle or not,
all must approve the frankness with
which he replied He said:
To answer that question would be
to embark in discussion which, as |
said Just now, goes back to the con-
troversy waged for so many years
over the old Bank of the United
States. My own opinion is that the
true and only function Of the Govern
mens is 20 coin gold aud silver, and
leave the rest to the people Ap-
plause
This system relieves the Govern
ment from any liability for or connec-
tion with the performance of con.
tracts of corporations, which think,
is sound principle. | know it can
be said that the Government has
never lost anything under the national
banking system. l believe that is
true, but | repeat again there is
value, there is great value, in the re-
establishment of correct principle.
And this plan calls for the recogni-
ton of the correct principle that it is
no part of the business of this
Government to be guaranteeing the
reliability Of private corporations, or
undertaking the performance Of their
contracts as some contend for. 1t is
said that the Government must furnish
a currency. and therefore must see
that the currency is good by guaran-
teeing it. 1t cannot assent to that
proposition. 1t is true that currency
is a necessity (; but there are a great
many other things that are necessi-
ties. Railroads are necessity, and
the Government incorporates them;
but should the Government guarantee
the safe transportation of persons and
property Food ccessssttyS,r~and
tile Government may adopt measures
to regulate it and keep it pnre; but
should the Government guarantee
that it is what it is represented by
the vendor to be, either in quantity
or quality Lawyers and doctors are
necessities, and the Government
licenses them-issues them, so to
speak, puts them on the pub!ic-not
the General Government. but the
State Government; but should the
State Government guarantee that
every lawyer will give sound opin-
ion aud every doctor is reliable in mis-
diagnosis and treatment of disease !?
Major Black made one or two
appeals to stand by the Constitution
of the country, and his apostrophe
to law ELECTED hearty applause, when
he said:
"In my opinion the supreme well
fare of the people, if not the very
safety of the Republic, demands that
above all mere financial schemes,
above all mere temporary expedlents,
the time has come when we should
call for and demand the supremacy
of the Constitution of the United
States. (Applause.
Sir, l agree most cordially with
what was said here a few days ago
about the supremacy Of law. have
sometimes thought if knew Of no
other God l would bow down to law
law, that throws the aegis of its
protection around us before we are
born law that follows us III every
step in the pathwav of life; law,
that guards our graves and the
flowers which affection places upon
them from the desecrating hand Of
the despoier The great sacrifice of
Calvary. the greatest event in the
history of this world, was no more
an expression of the divine and
Infinite love and mercy than it was