The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1891-08-13

ttN "NON@~
George Clark:
\ need not tell you farmers that the
4 Democratic party has been the peo
h ple's party. SINCE it's organization. Ii
has ever been at heart a stern and un
compromising foe to the tyranny O.
u money and Of monopoly. 1t would bt
x untrue to tself today, and traitor t(
\ its principles and it's religion, ifit EN-
braced, even remotely, the cause O
Il capital, and contributed, however sc
4. little, to the oppression of the people
Il at the dictates of syndicated money
4 1t may be that sometimes in these
later years, false apostles have ap'
4 peared, and with honeyed phrases
Il have led The party away from its
moorings. and out in the darkness OF
political heresy. Now and then some
/, Aaron rises up in the camp, and per-
suades tLe people to transgress the
law by idolatrous worship; but God
reigns and the calf is sooner or later
destroyed The foundation pr nciples
fof the Alliance are the cOrner-stOnes
OF Democracy, as taught by the faith
ers. If you A lliance people tell me
that YOU believe in the doctrine OF
Hequal rights 20 all and special privi-
leges to noue,'I tell you that Mr..
Jefferson is the original author of the
idea, and saw to it that it was incor-
pOrated in the original framework of
our government.
8N If you tril me that you are opposed
to banks oi ssue, because they op-
press the people, and furnish an op-
portunity 10 money to combine for
their oppression, by restricting at
will the medium of circulation, re-
aply tc YOU that Mr.. Jefferson saw this
and denounced it as a Democrat long
Before you we're born.
W If you tell me that you are opposed
to banks Of issue, even state banks, L
feply to You that Jefferson thought
like you do, and congratulated the
country IN 1914, when all the state
banks broke, as they always did
periodically.
# If you assert that you believe it is
the sole right as we'll as the duty of
sthe national government to issue all
the money coded by the people as a
circulating medium, I reply, that was
.Jeliersou's idea exactly.
AZ If you assert the government has
@the constitutional right to create, and
Fought to create, financial agencies for
sits transactions with the people, 1 re-
esplv that Jefferson, and Jackson and
Calhoun adyocated the same idea
reXaCtiy.
# If You insist that the financial opera
tiOus Of this government and it's gene
raj policy have tended to make the
rich more powerful and the masses
poorer, I tell you that Jackson so
warned his cOuntrymen most solemnly
as far back as 1882, and his advice was
Needed by mis- party, until the sceptre
OF political power passed from it in
1851.
n ] am aware that these are bold
assertions, but L come armed with the
proof. [ do not ask you to take my
WORD for this: but the words of these
told Democratic fathers, they left be-
8hind them for our guidance, and here
.4they are.
Jehorson's Views.
"The question will be. asked, and
ought TO be looked at, what is the re-
source. if loans can be obtained?
There is but one: Carthage delenda
est Bank paper must be suppressed
and the circulating medium be re-
stored To the nation to whom it be-
longs. 1t is the only fund on which
they can rely for loans; it is the only
resource which can never fail them,
and it is an abundant one for every
necessary purpose. Treasury bills,
bottomed or taxes, bearing or not
bearing interest, as may be found
necessary, thrown into circulation,
will take the place of so much gold
and silver, which last when crowded,
will find an ef1lux into other coun-
tries, and thus keep the quantum of
medium at its salutary level. Let
banks continue if they please, but let
them discount for cash alone or treas
ury notes. QIetter to Mr.. Epps,
september II, }813, Jefferson's Works,
Vol. g. page 1881
"We are now without any medium;
and necessity, rs well as patriotism
and confidence, will make us all eager
to receive treasury notes, if founded
on specific taxes. Congress may now
borrow Of the public, and without
any interest, all the money they may
wanj, TO The amount of competent
circulation, by merely issuing their
own proD1issory notes, of proper de-
nominations for the larger purposes of
CIRCULATION, but not for the small.
Leave that door open for the entrance
OF metallic money. And to give
reader credit to their bills, without
obiiging themselves to give cash
for thonl on demand, let their COL
lectors be instructed to do so, when
4 bey have ash Tins in some measure