Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1878-11-20
SOUND DOCTRINE.

pcSslolilty OF doubt by the late elec
tions, is this--lhat IN Il sufficient mum
Der of the States TO control the Presl
dency in 1880, the opponents of th,
National Bank policy are immensel,
in the majority. Ohio, Pennsylvania
Illinois, Michigan, Connecticut al,
New Hampshire were carried by th,
Republicans by pluralitics, but in then
all, and in Others, the majority of th
votes cast were cast against the mon
ey policy OF that party-lho policy o
funding or otherwise retiring that por
tion Of the national debt which tn
people arc anxious TO continue the us
OF as currency, in order TO widen tb
market for the costly National Banl
currency, and TO extend the monte,
and political influence of the bankin,
oligarchy.
In pennsylvania the majority agalns
"Hoyt and Bank Money" is shown, b,
the complete returns, to have been il
excess Of 81, 900.
Ohio is anti-National Bank by O
least 25,OOO, Connecticut by 5000, an,
New Hampshire AMI other States nov
counted in the Republican column ar,
properly in the same category by
equally decisive preponderances of th,
popular vote.
Taking into consideration these fig
ures, and the additional fact that il
almost every instance in which Con
gresham has been gained to the Re
publicans, or lost to the Democrats. i
has been either through direct afiilia
tlon Of the Nationals with the Repub
licans, or the division of the Demo
cratic vote between two anti. Banl
Democrats-talingall these things into
The calculation, the great question with
reference to 1880 now is
is the Democratic party equal TO The
emrgeacyP
1t has always been an anti Bank
party, The proudest victory achieved
by II in all its history was its victory
under the leadership OF Jackson, ovel
the United states Bank, in 1896.
Its members OF Congress stood in
solid pbalanx against the bills author
izing and extending the present Ma
tional Banking system.
Understand us-we are not Nation
alists. We are not repudlationists
We scout the crazy doctrine of fai
money. We are no forced imitation
lists. We object to any forced meas
ures in connection with financial legis.
latlon whatever. Brick Pomeroy's no
bond idea is worse than nonsense
There 10 nothing communistic, agrar.
an or dangerous in the anti. Bank doc.
trine we would have the party unit
ior-and which il must honestly, and
openly, and unitedly maintain, if it
would win. The doctrine is plain
business doctrine which, being under.
stood, must needs appeal to the com.
mon sense Of all men. 1t Is simply
this
Gold and silver are the constitu.
tional money Of the country, but they
do not exist in sufficient quantities to
supply us with an adequate circulat-
ing medium and if they did, there are
certain forms of exchanges which
could not conveniently be effected
without the aid of paper currency
Paper currency we always have bad,
and always must have. Now then,
what kind of paper shall it be2 Shall
it be National Bank paper upon which
we must pay double interest, or gov.
ernment paper, which frees us OF the
interest on 40 much OF the debt as will
circulate in that form ? The National
Banking system constitutes a political
more powerful than the old
bank oligarcby Of 1886 ALMOST as
powerful, and in time likely to become
more so, than was the slave oligarchy.
Government money obviatcs this dan
ger
As to our debit is of two kinds
that which bears interest and that
which does not The former the peo.
Pile are anxious to have liquidated in
exact accordance with the terms of the
contracts under which il was created,
At the earliest practicable moment, BE-.
cause the interest they must annually
pay upon II constitutes very grevious
burden upon them. The latter the
people do not want paid of. 1t is not
,nly no hardship to them to carry il.
but oven John Sherman has acknowl.
,dged that il is the best currency the
,ountry has ever had-that, as against
National Bank currency, it is infinite.
y the preferable And we say that
10 much Of the balancc-that is so
much of the terest.bearing debt as
he people are satisfied shall be
paid according to the con-
sract) and It's place supplied with non.
ntercst-bcaring debt or Treasury
notes, should be so paid of and its
Dlace so supplied In brief, our doc
.rine is
FIRST, gold and silver.
Second, government paper, made re-
'eivablc for all government debts, and
ssued to the fullest possible extent
It which II can DO maintained at the
,ar Of, and be redecmablc, when such
redemption is asked for, into gold and
liver.
Third. the outlawpy of all other
orms of paper currency.
This is a popular doctrine, because
ia . common sense doctrine, and be.
ausc II will bring relief TO n people
Who are in most urgent need Of relief
I Is entirely consistent with the Dem
cratic past and Il we My have the
luck, as n plrtv 10 enter tho cOntesf /