The times. [volume] (Richmond, Va.) 1890-1903, 1897-12-15
RECEIVED ALL The VOTES.
Continued from First Page.)
and perverting it's powers to purposes
never designed by its organic law.
THE FINANCIAL PROBLEM

| Gold and silver were here referred 10, ana
| are the only money recognized by the
| Constitution. An adhesion to the unques-
I toned powers OF the government "oulu
| conhne Congress In its legislation 20 ueaI-
| ing with thls-the money OF ultimate re-
| demption-and leave 10 the people uhdef
| proper regulations. the issuance OF pa
| per currency with which TO meet the ever
| changing necessities OF trade IN tne Nall-
| Gus sections OF the country. IN uenanye
| or this principle. the government emDark,
| ed I'm the business Of a quasi-banker and
| issued its notes for millions OF uoilaIs,
| payable on demand. Not content WIN
| this issue OF demand paper. whose pres
| ence in the hands of the public Is con-
| slant menace TO its credit. il went further
| and by legislative enactment IN the FORM
| OF a Federal tax upon all the cirSuldtion
| Issued by banks not incorporated uiiuer
| the national banking statute, deprived tne
| people OF the privilege OF creating for
1 themselves. upon securities ana assets OF
| unquestioned s0lvency and uncer Itguia-
| lions. State or national suincleht ior the
| protection Of the publiC-a paper currency
| 10 meet the demands Of trade. The right
| OF the people thus destroyed, IN mater
1 Of almost vital concern, was ostehslDly
remedied by the passage OF what - nmoHn
| as the National Banking act, the proNiS-
| ions OF which but served to aSgrandlze ine
| fortunate holders OF the class or wealth.
| required as the basis for the clIculauon
| here provided for. to-wit: Inc bonus pi
| the national goVcrnment-whlch were helu
| almost exclusively I'm one section OF tne
| country. The act IL powerless To lurhlsh
| those great sections of the country III
! which United states bonds are no, heiu;
! any facilities for charging the Volume OF
| the circulating medium. i taxes more
| currency. gathered from such sections
| and sent to the centres where the pohus
| are held. TO make the purchase required
| for deposit than Is issued by the banh
| after II is established.
| This legislation Is repugnant TO the sim,
| pie principles of Democracy. us Dahelui
Ia. Vtf
try. and the stability Of our nnanclal sys-
tenn are now to be witnessed on every
side. The government should coniihe u
self to the simple duty indicated al thc
Constitution. OF coming money ana Ies gu
lating the value thereof The right or the
| eople IN associations 10 have issued upon
security and assets of unquesuo solN
cncy. and under laws whicn VIII Plo,ee'
the pubhc-a currency should De as uh-
questioned as their right 70 engage IN any
| other legitimate busntss enterprise
FEDERAL TAXATION.
To illustrate further. take the sunjeGt
constitutional grant permitting Congress
10 levy taxes 10 meet the expenses OF the
govcrnsnt. vast system 81 leglsistluH
has been built up, the purpose ana Ell
feet Of which Is not simply 10 pilnS
revenue into the federal treasury but 10
prevent competition between the products
principally OF certain factories ana
mines owned by private individuals ana
offered at lower prices 10 the consumers
n eur midst. from other countries. Inc
unconstitutionalty Of this legislation IS
admitted by IT'S Trainers, VINO conceal It's
real object under title which declares
its purpose TO be the procurement OF rev
enue. Its injurious effects upon our
country are manifest and manifold. not
only are certain classes and sections pen
Gifted. to the detriment OF others; not
only are the opportunities Of wealth TO
create wealth greatly enhanced. but IN
dustries not adapted to successful opera
ton under normal and legitimate trade
conditions are quickened into life. soon
II be followed by failure. Others, prompt
ed by the artificial stimulus 10 over-pro-
duction, seek relief in trusts and COM
bnations TO regulate output and prices.
Trade too, with other countries, which
after all is but the exchange Of commO-
dtics. is crippled or destroyed.
But worst OF al such legislation
creates "A class Of citizens. individual and
corporation. who have a stake in the
triumph OF political parties. The gov
eminent instead of simply securing 90
an her citizens equal rights. grants TO
these favorites privileges Of a most meal
culahle value, and thus the use Of money
ina elections. vast sums furnished by the
benehciaries Of this policy, follows as
legitimate consequence. 10 the debase-
ment of the citizen and decentralization
Of society.
GOV ORNAMENTAL BOUNTIEs
OF like character with this legislation
may be mentioned bounties upon certain
crops and products. subsidies TO lines of
water transportation. the loan of the
nations credit 10 private enterprises in
the construction Of railroads. and other
great works Of internal improvem mt. All
these DerveTsiOns Of the powers of the
government serve TO multiply the number
of those who look 10 il for favor and
fortune. and hand in hand with such
legislation go prOhigate appropriations
and wasteful expenditures Of money
wrung from sOrely burdened people
Against all this legislation. against
these invasions Of the rights Of the citi-
zen. Democratic principles stand in SOL
emn and insgtent protest
lnon this system Of governmental part
nershp. an association. both Illegal and
disastrous 10 the interests OF the great
masses of the people. Democratic Drin-
clples declare undving warfare / be-
lieve. Mr. President. a return 10 the meth
ods IN consOnancc with the fundamental
principles Of Democracy. is the surest
road 10 some measure Of lasting pros
perity and domestic peace.
virginia, a Commonwealth whose de-
Notlon To the rights of the people, marks
every page Of her history Virginia
"A land Of settled government.
land Of just and old renOwn.
Where freedom broadens slowly down.
From precedent TO precedent
virginia speaks to-day for the faith and
practices Of the fathers Apostacy from
tidA ldltis ana disregard or those fTaf-
tees. has brought disasters to our coun-
try. To the great work Of restoration.
70 the cause Of liberating the people from
unwise and unconstitutional laws. de
structive of domestic trade and foreign
commerce. she sends her trusty states
man 10 the capitol Of the Republic.
Nirgnian, carrying i'm his heart n
reverential love for the old Common
wealth and ever jealous Of her honor
partisan, profoundly imbued with the
great tenets Of Democracy. he goes forth
as one Amounted for a high and patriotic
mission. lie goes not to destroy but 10
restore. lchind him beat the hearts Of
his felloW Nirginians. warm with mingled
feelings OF affection and pride. Upon
him rests the imprimatur and lenediction
of his mother State. Before him opens
a splendid arena. where the highest as
prations and energies Of his nature NAV
spend themselves in efforts for the anne |
Iteration OF humanity and the glory OF |
MS country such Mr. President. are
the attributes OF this man. sucn are the |
inspiring hntiments which invest the |
hour, Fortunate indeed FOR the Com |
monweath. the man and the hour have |
nttinsly met
MIR. FLOODS REMARKS.
Senator Flood in seconding the nomi-
nation. said:
Mr.. President: At the suggestion OF my
friend. the Senator from Campbell | rise |
to add but one or two words 10 what has |
already been so well and so eloquently |
said on this occasion.
Representing. as I do. an adjoining |
county 10 that in which Senator Daniel
resides. / might on that account embrace
the high privilege which has been extend
ed me Of laying this simple tribute OF my
DeOple at his feet