Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-29

number of The leading bankers ana
.....rr 70 Richmond have instituted
,...a- which has for its object. ana |
.,.. .s hoped WI become national |
Of the constituuonality of the |
....-r.-s imposing a 10 per cent. |
...., .., is7ucs of state-bank notes.
mont has been on foot for sew
.. .... bat II only reached stage |
70 which those who are behind |
l...., 70 wise TO disclose their plans !
aa p.l..
THE INAUGURATORS.
.. r.rremcn who have inaugurated |
.. movement are Messrs. r.. a. Iancas-
,. or the banking and brokerage firm
.. lancaster a. Incke: Joseph Bryan
r,-r =. Williams head Of the house OF
r.b, D. Williams 81 Sons bankers ana
l.rot.-.. r.. B. Addison the weli-known
.-r.rst and W NJ. Hsbhston. banker
and capitalist. These gentlemen have
retained Air. William L. Royal as coun-
ST. and he will carry test-case 20 the
s..r,re court Of the United States.
.....r. will be associated with Mr.. Royal
az
n. country when the case comes
.u for trial fin the supreme Court OF the
United states.
One Of the gentlemen, who has taken
"a foremost part in the movement staieo
Yesterday that he believed the decision
of the Supreme Court declaring the In
comc-tax law unconstitutional rather IN
dictated that the court was prepared 10
declare this Objectionable feature OF 'ne
national banking act also repugnant 10
the organic Jaw.
Colonel w. IL. Palmer the president oil
tre CITY Bank. has consented TO act as
treasurer of the fund which IL Is pro-
,...a 90 raise Co detray the cost OF Test
,.a I.w. Contributions, laua-ns ln
-.rt from SIS TO SitV are being re-
..r T.. committee viii soon send
,.. circulars 10 an the state banks of the
...r- king for contributions 90 Hlu
Oh .. -Iua the fight The circular is
f.t.r....- not only because il Indicates
t. Stab. which have been, and are being.
.r.r q, relieve the State banks of the
heavy national tax. but IL incidentally
ir rts many of the arguments when
aro advanced against the law
MIR ROYALLS VIEWS.
T.. circular contains copy of letter
e..r Ir the committee named above 10
llr William l.. Royal ON the 21th M
-ttrr asking him If he would consent 10
become counsel TO take 90 the supreme
court II the United states a case 10 test
Tie c1rsItuti0nality of the State-oank-iaN
feature of the national banking law.
Nr Eovalrs reply 20 the letter Of the
committee is as follows:
Richmond Va. November -. lS9'
.Me.srs. H. A. Lancaster, Joseph Bryan
Il, Williams. w NJ. Habhston and
D. B. Addison:
.uaar Sirs-I have your favor Of the
9 Instant asking if J Will take charge
@. d case 10 be carried TO the Supreme
count OF the United states. to test the
tuuouallty of The act of Congress
.... sing The 10 per cent. sax ON the issues
l STATIC banks I VIII accept the employ
u. and / have never enlisted IN any
with so muca pleasure. That tax
lr-e OF an CT our financial uou-
i- wore out of the way we
should l.sl peace. prosperity, and con-
faam.r The present term of the su-
r.me Court lasts until the middle OF
-I-g H..l j adjourns until the middle
- October. If you act promptly there
good show 20 have the case de-
before .ay. There is more than
ing chance 20 win 81, although there
-..s.9n of the Supreme Court made
after the war ga part of its war
J unfolding the tax. But
Every Judge who took part I'm that
IDA is dead.
r was decided by a divided court.
The question of the right of the
e...lment 10 control the currency was
O.. sod in argument. The point made
h case was that the tax was direct
GAS mat had 10 be apporuoned. II is
fa. uat Chief-Jusuce Chase, ia deliver
lt a opinion OF the court, goes OUT OF
.E It'd say that Ii was intended lot
nment 10 have complete control
'i ' Currency That can ue demon
sif.- t. historically untrue.
DID,. D1.tt has overruled and repudi-
"''- .'' .., tax proposition. the Only
o.-.'l .n .no recent iucOme-taX case,
ouch. I.f TO be difficult for IL 90
'.-' end t.llliate the second pro-
t H.s not involved ina the
e"f rt cam be shown TO have
", pass i.t upon.
i"' '~. raE. amy use Of this letter
Una. suite tH. d. may challenge much
sos'iao'clon hat ] win stand upon it
az ".ih.I. and demonstrate its
'" 'o'., ..