West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1897-04-01

! V"Se'ueT lh support or any policy
aforementioned that platform at
the polls, must be absolutely as
founding and simply dreadful. SIX
millions FIVE hundred thousand.
Nnaves and fools, voting for the
Chicago platform at the last cleo
ton, and who still believe that they
were right in so dong -,
is the opposition to banks, be
cause they are moHeyed institutions?
No. Is opposition to rational
banks, to be interpreted as opposi
ton to al banks? Not at all.
Does the opinion that national
banks have superior advantages
over other btnks, or that the u. s.
banking law is unjust, and oppres
slve' upon the masses OF the people.
carry with it the idea that men who
engage IN banking under that law,
are unworthy or bad men Or
that such banking is dishonest or
disreputablo ? Not at all.
Banking is just as legitimate and
reputable vocation AS any other
business enterprise. Gentlemen who
engage in banking are just as hon
orable as any other class of men, as
a rule. No better, no worse. And
like all other men, in regard to
business affairs, they 90 into the
business that they believe will pay
them best on their investment.
And the fact that banks are some
times conducted dishonesty or
| unwlsely, and that dishonest and
incompetent men are sometimes
connected with banks; and that
their dishonesty occasions heavy
losses, by innocent and contidIng
deposItors. sometime, has nothing
to de with the case. The same can
bc said Of all other occupations. 1t
is the ranking laC TO which wa are
opposed, and not TO the bankers.
Nelihc are We opposed to banks,
as such. Banks are necessary, and
Will always be so. because Of their
convenience and general utility.
We are IN favor OF banks and
banking; but not in favcr Of banks
OF issue, but OF banks Of diSc1uuf
aRd dcposH only. But most Of all,
are we opposed to the present bank
ing SYSTEMS being continued. and
to the whole financlsl system Of the
United states being put into the
| hlnda, and under the control Of,
/ the national banks. We regard that
as the most dangerous and di4boli.
cal proposition ever suggr sted or
devised in this country. IL is a
I proposition from which patriotic
/ baHherS themselves must shrink
with horror. We believe that the
crea' ion Of money, and the entire
control Of the faanclal policy Of
this country, are functions of the
sovereign power-the government
and exclusively so; and that these
prerogatiges cannot be safely or
wisely delegated to any other au-
thorty.
Neither do The silver man object
to the qualHy Of national bank pa.
per. 1t is good money, and has
many attributes that recommend it
very strongly. Bat that is very far
FROM saying that no better system
can be devised. What is 1t that
gives the national bank paper IT'S
high character? Have you ever
considered that question =? Is il
not because the notes are bottomed
on bonds, issued by the govern
mcnt and the payment Of which,
10 coin, is guaranteed by the gov.
erumcnt? ? In what way do these
bondsdlIfer from .he green backs?"
Are not they both issued by the
samo authority, and both made re-
deemable in the same Kind OF
money, only with this remarkable
| difference in favor Of the greenback
that it is rodeemable ~ any time,
while tho bonds being merely evil
dcnces Of government debts, are
limited in their redemption, By the
terms Of the contract, s TO time.
/ But thc mos. importan. distinction
between groenJacks and bonds, rs
that grcenbacks arc ut1uel, as soon
as issued, and continue to be so
until converted into money OF re-
dempJon and answer all The pur-
poses Of circulating medium, buf
nan iaieret be4riag, while The