Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-12-25

| Representative CnarteS M. Shelley ana
| claims that the vote of each upon the
one proposition convicts them of giving
| democratic support to the present nation
| al banking system. MeSsrs. Morgan and
| Shelley merely voted under circum-
| stances to countenance a lesser evil in
| lieu Of perpetuating a greater There
was no bill before congress then to abol-
| ish the banks; the question was control
of banks that were inevitable.
| VIII The Advertiser clear the atmoS-
| phere for consideration of its proposition
that the present national banking system
| is democratic, by answer to the follow
ing? ID What proportion of United
| States currency docs, or will, the demo-
| cratic party relegate to the manufacture,
| issue and control Of private corporations,
| to-wit, national banks under their exist
| ing charter rights, as in competition for
| supplying currency with the mints pro-
vided for by the constitution? The whole
| question may turn upon answer to this
| direct and timely interrogatory. Let us
| have the answer. ~ Will The Adver-
| tiser Indicate 81 law of distribution of ma
| ttcnel bank currency which will operate
| to dfSpel the present congestion Of that
| currency in the speculative markets to
! the famine of currency prevailing in the
| producers markets? That is, when an
nually 10000, 600 bales of futures cotton
are sold, all along in every ten minutes Of
| the business day in. the great cotton cH-
some. theory of control Of bank currency
issued for the private profits of bankers,
which will alIgWer the democratic end OF
sending this money into the producers
markets. where there are only 100000
spots" bales to command its uses? ] do
not expect The Advertiser to answer this
intefr0gatory number 2. AS long as ma
tisnal currency is issued by private cor
pOrat!Ors, to any sensible degree, there
will be unity of interest and concert. OF
aNtiOp fbDca iCsIiuo. r.
porGtions; and the result will surely be
a united resistance against that demand
for adequate supply of currency to pro-
dueers markets which would keep up
prices for spot products. The better to
promote speculations in futures" at cer-
tain banking centers, where bank bills
can be kept in ceaseless circulation, the
mints must be closed.
The proposition of The Advertiser IS
that tho democratic party has never OPP
posed the present national banking sys
tenn To. the contrary of this bold and
bald assertion, all tests of democratic
sentiment in congress-, ct least before the
present term of MIR. Cleveland, prove
Democratic antagpnism to republican
party financial policies, all of which
would crumble unsupported by the ma
tlonal banking. system.
But let us come to particulars. When
the democratic convention of 1885, the first
after the war, met, the country was being
agiba ted by the banks at home and by
the agents in New York of London in
vesters, demanding a contraction of the
green back currency by Issue in lieu there
of of interest bearing bonds. 1t was in
defense of this greenback currency that
| the democratic party in national con-
yention. assembled nominated Horatio
Seymour for the presidency; and the
fifth plank of the platform stood as fol-
lows: so
"5. One currency for the government
and for the people, for the laborer and the.
office holder. for the pensioner and the
soldier, for the producer and the bond
holder"
VIII the Advertiser allege that the.
banks were for the democratic nominee
or for the democratic platform in 1888,
the first election for President after the
Wsr?
VIII the Advertiser deny that the cleo
lion of Seymour and Blair, the democratic
nominees appeared imminent when sud
denly, early in October. when the, can
vasa was ardently being prosecuted Au-A
| gust Belmont, of New York, the agent
| Of Rothschilds in Europe and also chair
| man of the national democratic commit
| tee, bought the World newspaper and
| demanded that Seymour should he taken
! down and another candidate be put up
| in his place? That was the hot bed of
| niugwumpery in which Grover Cleveland
| took root and thus the Advertiser is
| lead aStray.
| The banks were not for plank Five of
! the democratic platform of 1868 and the
party indorsed nothing that the banks IA
| vored. Banker Belmont and investor
| Samuel j. Tilden and that coterie of trea-
| sonable mugwumps that defeated Sey'
| mour in 1868 are the patterns of the ma
| tionar democrats Of today lead by the
| Advertiser in Alabama.
fiv.l't -
| 1t is not too iabortous in these fearful
days when plutocracy, vagrancy and an
| archy are walking hand in hand in this
| great country to attempt to spy into
| causes and develop facts. From first to
! last from the incipiency of the bank
| Inc system of to-day to the advent of
| Cleveland. democracy in congress has re-
| sisted and resented the paper money
| currency. Here. Is the record:
FEBRUARY Il. 1863.
| A bill before the senate to provide a
national currency, secured by pledge Of
| United States stocks, etc. was carried.
| two democrats voting yea and twelve
nay. So -
FEBRUARY 20, 1853.
The same bill passed the house, three
| democrats voting yea and forty-two DEM
| ocrats voting nay.
APRIL IS, 1854.
| Same character of measure passed the
| house, no democrat voting yea, but sixty
4 five voting nay.
.s..s.s ..-s, MAY 10, 1854
A motion to repeal the above legisla-
| ton made by Senator Powell, democrat,
| was voted for by all democrats and voted
| against by all republicans except one of
| the latter.
| JUNE q, 1864.
| Mr.. Holman. democrat, moved in the
| house that the several states should have
| power to tax government bonds, notes.
| etc. on which bank currency was based.
All democrats present voted for Holmans
motion and all republicans against it,
MARCH 20, 1859.
| Mr. Morgan. of New York the same
| quoted by The Advertiser as friend of
| the banks ~ Introduced resolution,
amongs other objects, to tax IN GOLD
all bends of.the UNITED STATES here
tofore, issued or which may hereafter be
| issued" IA per cent. Hooper. republican,
| the father of the anti-silver legislation Of
| 1873 moved to table Morgan's resolu-
| ton, and it was tabled, all republicans
save one and no democrats voting yea.
JANUARY II. 1870. -.
| McNeely's motion. to withdraw all hank
| notes from circulation and substitute
| greenbacks came to q vote in the house.
/ Three republicans VOTED for II .alnd ITO