Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-05-24
The New Party.

ihe Poopies Party OF the Unltcu btatcs
Of America has attracted from the general
public no little attention during the last
few days. The leaders OF that party seem
TO be confident that they have done good
work. They have already been engaged
IN deyising the best ways and means OF
raising funds for the use Of the new
party, thus recognizing at once the fact
that without the sineys OF war" 1t is i'm
possible for any party 70 accomplish much
In this country. This fact which differ
entiates the environments OF new parties in
this country from the environments of new
parties in other countries. We have made
Mammon the god of our organizations, and
worshipped at his altar until it has almost
come TO be recognized as indispensable to
the smooth working Of any party's ma
chinery that the wheels must be well
creased" Nevertheless. when the people
become convinced that there are great
principles at stake. they will act accord
ingly. That is to say, if the new party
has q work before it which the masses
approve, these masses will rally to the
standards; raised at Cincinnati the other
day. =
The new party has also selected secre-
tary and treasurer for its national organi-
zation. In choosing these officials the
| leaders did not fix upon men OF national
reputation as statesmen.
So the new party has dared to challenge
the two old parties TO combat upon the
presidential field next year. The courage
thus manifested exceeds the wisdom OF
the challenge. At least so it seems TO us
at present We have said as much hereto
| fore in saying that it was already too late
for a new party to be organized which
could reasonably hope for success next
year.
Is the new platform likely to become
popular enough to cause the voters TO
abandon their old party relations and rush
to the support of the new partyr At the
risk OF speaking too soon we will answer
this question in the negative. We epito-
mized that platform in our leader OF
| Thursday. 1t contains no planks better
calculated to please the people than the one
| declaring for the free coinage OF silver and
for fat green6acks. But, so to speak, free
coinage was already O plank in the Demo-
cratic platform-that is, the Democrats as
a party favor il, and the demand for fiat
creenbacks was made twelve years ago, but
silenced then at the ballot-box. Is 1t more
popular now?
Shall we be told that the demand for
the abolition of the national banks Is
popular? Perhaps so but if this popu-
| larity is based upon the mistaken notion
that these banks draw double interest.
then the people will cease their clamor
upon the subject when they learn that the
Government would have to pay exactly
the same amount of interest upon its
bonds that it does pay if there were not
a national bank in existence.
The proposition that the Government
shall issue greenbacks by the hundreds of
millions of dollars to be lent to all who
need them, and can give security for the
loans they may secure, is radical mea-
sure. II everybody holding property may
thus borrow greenbacks to what good pur-
pose or profitable use could the green
backs be put Nobody would go to per-
son to borrow money. Every borrower
would apply to UNCLE SAM. If everybody
is not to be allowed to borrow whore is the
line to be drawn, and who is TO draw it 4?
But above all other considerations will be
the fact that nine tenths of the voters have
no real estate or personal property upon
which they could base promise to return
O Government loan. None but the rich
man, so to speak, could furnish the needed
security. Will the masses who grumble
because gold is preferred to silver by our
rich men, and because the banks won't
lend money upon real estate, and because
none but the rich can draw interest upon
Government bonds-we say will those
masses be likely to favor the new condition
| of things?
But it will be said that a graduated in
come tax will be popular. Perhaps so.
Perhaps it ought to be. But our faith in
its popularity is not great. The Govern
| ment once had model income tax-gradu-
ated too, to limited extent-but that tax
| was repealed by the Republican party and
the tariff upon sugar and other necessaries
of life was continued, and yet the people
continued the Republican party in power
| for years after it repealed the income tax.
If we examine the whole platform we
shall find nothing more taking than the
planks we have mentioned.