The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1892-10-12
The Platform Of Anarchy.

The Platform Of Anarchy.
Il would BE an immense gain to the
Republican party and the cause Of good
government If every American citizen
Ess eonversanf Sith the facts contained
in the eoEcise review Of wildcat banking
/ il this country which vas contributed to
iast Sundays Pres BY J. ". Sh1ckeIs,
the former secretary Of salmon P. Chase.
The series Of financial disasters which
followed the extension ofwildeat OF State
banking in the United States constitute
a condemnation ofthe Ansrchistie plank
in the Chicsgo platform to which words
can add n-thing.
During the period from ISL TO iSl5 q
horde Of state banks spranS up; the vol
ume Of currency increased from SO ,00o,-
600 10 $40 0oOO00; and the inevitable
result Of widespread bank suspension
followed. At the end Of 1913 sPecie was
50 scarce that the government could not
procure enough gold 70 pay the interest
on its debt Business disaster was 50
universal that Henry Clay, speaking in
1852, described the years from ISIS to
1924 as a period Of paralysis, Of dismay
and desolation.'
With $3.50 another epoch Of bank cur
rency circulation set in state banks IN
creased in seven years from SD 70 673 in
number: their circulation expanded
from s6IO 10000 70 SlS6,o0OO0o; and
when the crisis cane in 1857 il spread
almost universal ruin The state banks
everywhere suspended specie payments
a. they had done IN 1914, ard the notes
in circulation were Withdrawn or rend-
cred worthless until only 100000 was
aaoat. The National Bsrkrupt law Of
Is4l was IN force lsss than twO years,
bu, during its operations 5000 persons
took advantage Of its provisions, with IL
abilities. according TO oihcisl schedules
Of ss4O.O00O00 snd with assets Of less
than S48000000.
Between IS4s and 1890 more than 1000
state banks ailed, inhicting enormous
losses on the multiludes that held Their
notes. OfIG00 State banks in nominal
existence in 1850 fully One-third 'sere IN
8 ruinous condition The notes OF hund-
re3s ofthese institutions had been aecept-
"a bv ecbanics aad laborsrs Is money
yet they were worth no more than the
paper they we're printed on The grsat
fnaBcisI crash Of IS57 was directly pre-
e=nitated bv the free trade tariff Of that
period and the expansion Of tue IRE
sporsible and speculative state bank
svs.eu. 10 which the Democratciparty in
ISos demands that we shall return The
system Of bank note circulation N oper-
s,ion before the civil war was hoPeiessiy
had in eyerv respect The money CT
many hanks was absolutely worthless IN
o;ber states; the currency Of al Vas sui
iect TO discount when the holder crossed
S,s,s lines; and the merchant or work
inyman Who sad taken The Wildcat cur
r-ncv in return for goods or labor vas
Iikslv at any moment to md II mere
trash on his hands
To this obsolete and fatally disc1edi,ed
sqstem- under which the people Of TIE
United states lost several thousand miii-
IONS Of dollars. the Democratic party
would take the party back We nov
have 3 hank circulation backed oy the
= edit Of the nation-a circulation oi
winch the notes are a. good -s gold IA
tbs financial cen,ers Of the NuTid- lac
Ds1tv xhich has gone 70 the Coniedefa-e
constitution for its tariff plank insists
tbat Ne shall throw away this priceless
ssfecuarl Of commerce and CT Labor II
Is no wonder that the sworn foes oi Or
der government and property Tisnls ~I'
a,tb,,s;sstic for the Democratic PLATFORM
The wildcat bank plank in that eoeu-
ment is. as the Anarchist organ i1isa'''i--
ed Li5rTt, truly says
-simule. straightforward, unequlEoe1l
a,s,cbism, An admission BY party
casting 100000 votes th4t the AnAfeh-
ISIS are justified in their central e.Ain'
A7afmiSi3a in this pArty's PLATFORM
tha. the first great Anarchists step nom
which all the res Of Anarchis-n L oo'i-''
70 fJIlox. os-1t 10 be immediately i-,A-
en-
The AnarcLis.s Rho would overthrow
the government of the I'ait=i states A.
veil g. every o,aer g1veramell the
pl0tters OF murder and preachers of trea-
son vho would abolish the home, the
marriage tie and every law that res,rains
the savage insauc: Of the loves. Of man
kind, are Supporters of the party whose
declared policy mems iaius-rial ruln
7nd business Anarchy in the United
states. TIE fanatics that crave - DE-
stroy are for tie d -.nocr.sg aali-s pro-
gramnle of l-s,r1cfioa. WhlI IS the 20
si,i5n CT the home bgiilers aai wage
Garner, II this Hzti3ne Are they f.r
Democratic Anarchy or assias. u2-E
J. Prsss-