The record-union., 1892-10-19

Columbia, 81; Georgia, 50; Illinois, q;
indiana, 76; Kansas, l; Kentucky, Z;
Louisiana. Is; Maine, "a; Massachusetts,.
60; Maryland, y; Michigan, q; Ne
braska, 4; New Hampshire, q; New
York. $50; New Jersey, SO; North
Carolina, . Ohio, 81; Rhode Island,
IL; South Carolina, ,; Tennessee.
Il; Vermont, II: Virginia, 5: Wis
consin, II, making grand total of
81 banks whose notes were in circuia-
ton among the people and had been re-
celVed by them for their labor and their
products, and which notes We're abso-
lutely worthless and Of no more value
than The paper on which they were
printed.
Yet it is proposed by the Democratic
platform OF 1892 10 make this condition
again possible-aye, to invite it. Against
IL every workingman, every mechanic,
every farmer and producer and every
business man should enter an emphatic
protest, and should make that protest
elective by voting against the party
which proposes this condition.
We have to-day the best currency in
the world. Our gold, our silver and our
paper money are at par; each the equal of
the other III debt paying and legal tender
power. Our dollars are either coin dollars
or paper dollars redeemable in cOin Our
paper money is so good and has been
SlllCC IHdusuIdtcI,I IudI no 1Ole-nOlQer mas
ever lost dollar and can never lose
dollar.
Our notes are not only good at home,
butthey are good in every business corner
OF the world. The banker may fail the
bank may 90 into liquidation, the prop
erty and assets of the bank may be all
squandered and lost, but the notes issued
by the bank can suffer no loss or depre
citation.
They are good because the Government
stands behind them as security and holds,
for It's indemnity, the bonds OF the United
States, which are at q premium the world
over. No man who has national bank
notes in his purse knows what bank issued
them or in what county, State or Terri
tory the bank is located. lie does not
know whether they are issued in Pennsyl-
vania or in Texas, and he does not care.
They are good in every part of the nation,
whether issued IN one State or the other
OF the torty-tour States, or issued in any
OF the Territories of the Union.
The proposition to go back to State
bank circulation is the worst manifesta-
ton of financial unsoundness which has
perhaps emanated from the Democratic
leaders. 1t is more dangerous than their
widest propositions during the initiation
era through which the country has passed
and which was encouraged by those who
We're in control of the Democratic party.
1t is infinitely warse than The irredeema-
bic greenback in unlimited volume. as
once proposed by that party.
1t will be thousand times more hurt
ful, more destructive to business and
value, more harmful to every interest
than the free and unlimited coinage of
silver. For thirty years the Democratic
leaders have been unsound in their tinan-
cial policies. This unsOundness has NOT
always taken the same form, but its effect
has always been to correct and debase the
currency OF the country.
Driven from their opposition to re-
sumption by the thoughtful men Of their
party, who voted against them when that
issue was presented, they then demanded
an imitation of the currency and the pay
ment OF the bonds in greenbacks. Routed
from that position by the sober sense of
the country, they became the advocates
of the free and unlimited coinage Of a
dollar worth less than 100 cents. Driven
from that by party eXigency, they now
pronounce for a financial policy which
would intlict upon the country try the
most worthless currency we have ever
had.
If this was all there was in the cam
paign, if this was the sole declaration
made by the Democratic platform, it
would be enough to defeat the party,
which, in a deliberative convention of
the representatives Of the National De-
mocracy, resolved to go back to the Wild
cat currency of thirty years ago.