The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1879-11-20
FREEDOM OR SLAVERY.

FREEDOM OR SLAVERY
, The DemocrattcFfnanctalPositiol
, youngstown Vindicator.l
1t is impossible for the Democrac,
of this country to avoid direct issu
with the national banking interest. l
is also impossible for the Democratic
party to cease the fight against tina
stupendous monopoly in finance, which
is allowed to loan its capital at one in
terest and its debts in the shape O.
bank notes at another interest, an6
make the people pay the whole.
For the national bank interest, and
the money monopolists, have taken
position against the Democratic party
are forcing the fighting, and are de.
termined to put, and to keep, the
Democratic party OF this country in a
minority, if possible-mainly because
this party is arrayed in battle for the
peoples interests and against that OF
| the national banks and money-monop-
olies.
The position of the fathers and lead
ers of the Democracy, and the found
ers of this Republic must be adhered
to by all Democrats and all patriots of
to-day. To do anything otherwise is
to betray the ancient faith of the De-
mocracy, and to hand over popular
government into the hands of bankers
and money changers-to defile the
holy temple of liberty and independ-
ence built for us by our fathers. It is
to make all enterprise, all progress and
all people who labor for these, and for
livelihood, dependent upon the WIN
and caprice of the money-leaders,
whose trade and business it is to make
money dear, and cheaper whatever it
will buy In the form of labor, or the
products of labor, or of the earth.
The declarations of the men who
founded this government-the great
Democrats who for so long admins
tered it,-and the profound constitu.
tional expounders who promulgated
its true doctrines on finance, must be
again studied, lived up to and fought
for by the Democratic party, now and
forever, in season and out of season.
for it is only Democracy go to do and
the people have no other defender
with sufficient power to prevail against
their enemies and the enemies Of free
and equal government.
These declarations and expeditions
on finance, which must be sustained at
all hazards and all perils, are the fol-
lowing:
From Thomas Jefferson's letters to
Mr.. Eppis, Volume 6 of his Works:
"Treasury bills, bottomed on taxes,
bearing or not bearing interest as may
be found necessary, thrown into circu-
lation, aDill take the place Of SO much
gold and silver. Bank paper must be
and the circulation restor-
ed to the nation, to whom it belongs.
cit is the only fund on which they
can rely for loans; it is the only re-
source which can never fail them, and
it is an abundant one for eUe,y neces.
sary purpose"
From Benjamin Franklin, Vol. 4,
Page 81 oe his Work:
"Paper money, we'll founded has
great advantages over gold and silver,
being light and convenient for hand
ling large sums, and not likely to have |
it's volume reduced by demands for ex-
portation. On the whole, no method |
has hitherto been formed to establish |
q medium of trade equal in all its ad- |
vantages to bills of credit made gen.
erai legal-tender.'
From John c. Calhoun, Vol. 3, Page
81, Congressional Globe:
"No one can doubt that the Govern
ment credit is better than that of the |
stable and more safe.
Bank paper IS cheap |
to those who make it but dear, very |
dear to those who use it. On the other
hand, the credit of the Government,
while it would greatly facilitate its f.
nancial operations, would cost moth
ing, or next to nothing, both to it and
The people, and would, of course, add
nothing to the cost of production,
which would give every branch of our
Industries ies-agriculture, commerce and
as. far as its circulation
might extend, great advantages both
1t home and abroad; and
aow undertake to affirm, and without
The least fear that I can be answered,
hat paper issued by Government,
with the simple promise to receive it
or all dues, leaving its creditors to
axe 1t, or gold or silver, at their op-
ion, would, to the extent it could cir
;ulate, form paper circulation, which
,OuId not be abused by tho Gnuarn.
nent that it would be as uniform in
value as the metals themselves; and
shall be able to prove that it is within
,he Constitution and powers of Con-
yress to use such paper in the man
lgement of its finances, according to
he most rigid rule of constituting the
Constitution"
From DanielW ebster's constitutions.
il argument on the financial provi-
lions in the Constitution!
"These two provisions are indus
riously followed and completed, by
lenying to the States all powers of
,mitting bills OF credit, or making
.nything but gold and silver tender
n payment of debts. The whole con-
rol, therefore, over the standard of
1alue and medium of payments is
rested In the general government.
And again, collating the grant to Con-