The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-22

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| their notes. surely Hamilton knew as
! well az any man. what the trainers OF
! .ne ConsututiOn Lad IN thc.- mIAds.
! That was the idea OF the Constitution.
| The money OF the peopio--coln- was 20
! come from the General Cove .snt.
| The currency tnat They used vds To-
come from the State banks. AMI th,s
! remained the -fdea of the whole country
/ until the necessities Of the war caused
! roints TO set it aside here, IL wanted
/ TO sell its bonds to the national banks.
/ an. so ii imposed tax Oh 40 per cent.
upcn the issues Of the State banks. The
c,rstiiutionauty Of this act came before
/ the Supreme court, ia Ncazic. Bank IS.
| Feno. Wall, S. when divided Court
| Announced the new doctrine that the
| c1.,1umeut was given by the Constitu-
! ton Il tencTai supcrintendence over All
! uapet issues that are 10 serve the peO-
! uls as OIlcnoy. Another case OK the
/ raucest war doctrine. The court coulu
/ r,fcr 10 40 provision ~ tnc constitution
! that gives this authority 10 the Govern
mont IL thc ColID gives the power
40 thc Government itself, Tor theie l.
| ,oti,ino in the Constitution conferring
| the power upon the Government
/ whole analogy and history OF the case
/
nor less than a case OF judge-made law
/ Ia,c manufactured out OF the necessities
/ forcsd uuon the Government hy TIE
,.r.s.,,-a and cxactions of the war. Ihat
/ &C. tho long and the short Of the matter
g,d tho sooner we recognize the tact ana
| oct book to the bounds OF the Constta-
/ TN tho better IL will poe for the peace
and order OF the country.
I, a. ouite In order 10 remark here mat
40 trainers Of the Constitution charter
al a national beuk in the hesinnlh- "i
tho Government. and we had second ma
| tfo,al hank chartered in l,lf. But hoih
acts oas.ed only after the mo stuhborn
| constitutional opposition. The objections
| ia tre arts however. turned almost on
/ treiy upon the point That congress n""
ua power 90 charter coIpoiali"''
and that was the obie.top 10 inc 'o"-
/ sntutlonality Of the act when us con
| etif,ttionalitv was affirmed in The great
| case Of Mccullough AGAINST naiy i'h"'
| So ono ueac-fod. and if was never srn-
/ posed that the chartoflns or these TWO
/ rational banks was 90 wind up in power
being imputcd to the Government 90 eX-
eroiso control over an paper issues that
! the people might usc as currency.
| AFTER THE CONSTITUTION.
4 Glance Ut the history 81 the country
aftor tho Con stitution went into effect
/ will now Doc of interest Seeing that the
/ Constitution had left them perfectly free.
| state banks sprung up ai over the land.
! put tho country was now. cur resources
were undevcloned and The war Of lsl2
came on before the banks were steady
/ enough 10 hold tho finances OF tho 'oun-
try NO. and they broke down under the
strain. and we bad bad panics. Then. in
b..
/ United States. which soon developed into
| a eiart money monopoly that threatened
/ tho very existence Of an decent and or
/ DERBY government. General Jackson made
/ his great ncht against that. ard beat
/ ~. and IT'S charter expired in ig2-. II had
| suppressed the State banks 90 large
extent during tho later years Of IT'S eNis-
/ teucc hut when IL expired in 1897 the
! State banks had a fun opportunity TO
| show what they could DO and they did
show IL from 1877 10 l,cl That was the
/ hqlcyOn period OF our national life. Then
/ business hourishod an over the land.
! There were no very rich men. but every
/ locality had IT'S well-to-do non. All men
! had an equal and an even CHARGE. That
was period that brought about the
| happy state ! have shown YOU for Nir-
| rinia in 1860 The West was then grow
!
| territory There were wildcat banks
| there Of course incident % % new state
/ Of society but the ola banks Of the
! Atlantic and Gulf States were as steady
/ ass the everlasting hills The wildcat
| banks of the Western States gave State
! banks a bad name. because men con-
/ founded State banks with Western state
/ banks But that did not affect tho ability
| o. the banks IN the coast States 10 20 on
/ serving the people. and / submit that no
| people ever had so goOd currency sys-
tom as the Atlantic and Gulf States had
! in 1850.
Now. ] submit that q comparison OF the
condition OF the people OF Virginia in
| 1850, as / have shown il 10 this commit
| tee with what IL IS now. proves that
! the country people have real and
| cankcrous grievance. The national bank
! system confines an banking 90 the COM
| mercial centers. when the condition OF the
| people in l>tl shows that proper banking
! system would carry banking amongst
them an The national banking system
! coniscates the credit of the country peO-
| PIE and prevents their having any media
! OF exchange wherewith they may trans
| act their affairs II IS tyranulcll and OPP
! rrcssive 10 them. and the provision of il
! which forbids them 10 have their local
| banks of issue ought 90 be repealed.
Why DO they get 300 rcuef2 n is Lee
| cause the people who dwell in thic,ly sat-
| Tied regions refuse 20 have q system
! that may bring bank notes among them
/ which may De- az "a discount That IS
/ The case and the whole case Their
/ position is "a most unreasonable one They
say that what is good enough for them
/ is good enough for the others. But this