The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1891-03-18


AFrER one Of the longest contests in
tue history of American legislation, the
venerable John NJ Palmer was last we, /
elected United States Senator from Il {
State cf Illinois.
Some years ago Palmer was a RepuD.
licsR now he is Democrat. with al
that the term implies lie Is a gentle
man Of intelligence, but in his eagernese
10 secure the position he surrendered
body ana seGl 10 the Farmers Alliance
aad has shown himself to be the reriest
demagogue. On the exc Of his election
he thus placed himself upon the record
Q.-Are you in favor of the abolition
81 The national bank circulation A
Yes.
Q-IOu believe that all money should
be i~sued aud coined by the government
and all circulation controlled bv the GOV
eminent? A.-Fes- A. have stated
during the canvass, aud perhaps u YOU
before, ] at one time entertained the
Vle~ that the power Of the government
toco'n money was derived from the Con-
stitution and was limited to the mere
conversion Of the precious metals into
coin bot that ia the progress oftme the
public mind had resehel point that
the government wac furnishing that
which served all the purposes 0f money.
think ! stated that in 1874 took the
ground that the government should fur
nssh adj that was 10 be created az money
for Pablie purposes.
Commenting on these declarations Of
the new Senator from the great industrial
aud commercial State OF Illinois. the
Aew York Pres says:
Democrats who are Democrats ia tbeir
constitutional principles and Democrats
who are Democrats 10 catch votes are
very different persons. The former Kind
OF Democrat knows ths, the issue of all
saoney by the government. particularly
Hf Il Is all to be paper money, is sacislis.
tic a0d paternal, and that the issue Of
money by the people, organized into
T0'Gntary associations under general
laws, like the national banking laws. is
democratic and iGdigidualistic. II is
enough that such issues Of currency as
the national banks have made for the
lsss thirty years are sGbie.4 to govern.
ment supervision, inspection and yaarso-
Zee The guarantee Is an essential ela-
n'eni IN the sodndness of this currency.
but beyond this point the more freely
the people can orgsnize national banks
and issue currency the better. National
tank notes, in fact, ane the best psper
fi'oney IN the world. because the good
fAlts OF the government guArantees their
slundness. while the wide distribution
Of The se1rces Of issue is the very thing
needed 10 insune supply where there is
demand, and in a direct ratio 10 the de-
tnand, since banking capital bears snch
a ratio TO the business done and the
faoGey wanted in community. Thus
quality. quantity and elasticity or perfect
are provided for.
General Palaaer, not being Democrat
On principles, cares Rothing foi the Dem
ocraiic principle OF the aational bank .
ing system, or for the fact thar II Is the
bes2 way 10 give all the people all the
money needed for business purposes. He ,
deserted the Republican party in 1872 q
because he thonght the Liberal" craze q
would sweep the country, and nox he
lgain disregards sound principles because
II popular craze with which he expects q
o see the country swept. We believe >
ne will blunder nov as he did then. lor
you can't fool all the people all lie Z I
ime" And il such an unreliable dema- :
Cgue must 60 into the Senate, to bend :,
be neck 70 every crazy brseze, We would !.
lther he we're Democrat than Re- n
for an open foe to sound eco- N
omic principles is less dangerous enc SC
y than trusted deceiver. /