The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-01-13

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IN reccn. i,t,i, If IT, Dubuque
Telegraph a psnnlnlan ,erattr paper,
WI ilni this rem rltahlr sta'cmrnt:
jefferson. III. founder y; tho par.
", tn ,nt that III. ull: moa"y ~.
tho-ixed ny t.ir eoi,.l.'lssal va
gold and silver. yet VI snd drhlp
Gratis who nae that stat.,inan'i vii
thugs MS their r,litisN! .es,.h ra<
opposing the abolition q tn. s.sal
tender quality af The yrenhbacE and
advocating the .n,i.d 'naiice IL cireu.
lntion Of the present voiane 81
grcnnbark currency"
Will tho Telegraph n6lis:s its real
ers by informing them where, IL II"
writings OF Jefferson, eanh" feslna an
thority 70. thu fore! in statement?
We believe II to he ~ var ance With
demo ,ratic doctrine. thsa the yov.
ernmcnt can authoriz. u corporation
to do what 1t cannot ID Itself.
Albert Gallatia, Secretary OF IT,
Treasury under Thomas Jefferson,
We presume entertained opinions III
harmony with the Presidents when
he said:
"The issuing paper money IS cur.
rency. like that ~ goil and silver
coin, belongs exclusively - tie III.
ton"
In volume 8 % J-!r-rson's works
Ii his letters I, Mr.. Esp',. that d.s-
tinguished democrat says
"rreasurv bills. bottam.a IN taxes,
bearing or not bearing .hterest rs
may be found necessary thrown into
circulation, will take the place Of
so much gold aud silver, Bank
paper must be suppressed and tie
circulation rcs.erc; 70 Lie aallon -
whom ii belongs"
Iii volume j. Page & II the WORKS
OF benjamin Traaklin. the comaeer
aud uss ae;ate Of the early democrats
In the administration 81 the govern
meIt, that .,Gincui philosopher AID
statesman thus expresses himself.
"Papcr money wall founded has
great advantages OYER gaid ana
silver. being light AMI convenient
for handling large sam~, aud not
likely To have its gainac reduced
by demands 10, expectation, Tn the
whole no method Las hi,i.sr'e been
formed IT, establish Il medium ri
trade equal IN IL! is ads ntsges. "a
bills Of credit msdt ge,.eral Legal
tender"
Pennsylvania ~ i coiany y Grss;
Britaia hal Il .a.i i.y i! senior rape,
currency ii circulation FL years
without the loss Of II |. ,.itr TO any
bill hold, i, ani always 1T par Wit!
coin. a sys.e.a devised ~ Fcank'i,
and yielded Is Tic Federal govern,
mcnt Ii IL. adoption 5, the cons,!,n
ttioa. conf rsing upoait thccxelnsiv,
privilege o. issuing aai establishing
every form .. legal ;eaas.r FOR debts
Andrew Jackson, another eminea
III Democratic doctrine in his fare
we'll address March ). 1897 States
mans .siaaa,.i page go said:
"r.c corporations which srca.
the paper ia1aey caaaa; To relse
apon u .esia ;.seir-a',stiag meaia,
ssnifarm in na,ua.." Tint strrd,
old democrat recognized the trut
that the value uf money wits regula'
ed hv its vaiasae. hence his i.sir
that the amount be uniform. An
In his me.sagc III July 10. 1892, veto
Ing the bill for rc.charter a
u national Bank tpage 4.
ntatesnan's M...ual) he asscr,e
in conx,.ss the sovereign power a,l
exclusive right 20 create Money an
regulate its va'ac. lie said:
1T cannot BE- necessary OF 'prol
or" for congt.ss 10 barter away ,
diI"st themselves OF any ui III
powers vested in them by the -,
stitution To be exercised for the pull
lie good. The restriction on then
selves, and grant nf Il monopoly
the Bank Is therefore nacans,iiutiol
al. Congress has established ii nil
to coin money and PASSED laws
regulate the value thereof. Su.
they hare otter .sacer d regulate Il
curreNcg, Il ..aS conferred to De &,
ereisei bg taems eires. dad not Ia
transferred 10 . corporations"
Such was the tenor Of democrat
thought and arSumen, touching I'll
question 81 Tar as onr research 4
tue concurrent history ar those da,
show from III. ..,-anisa,ian of Il
government. Until Heimaai. havay
Tilaen AMI III. other fs.ss leaders
democracy had substituted Iii. Ana
cial theories or Alcxansle. Hasail,,
Tor those II ia. early demecra,
fathers Ii ". err viii tic re.s:rs:
point on. wherein.
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