Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-11-11

Democratic party. or course the
scheme had but little effect; practically
II had none at all, not because the PEG.
pie are not afraid Of an unstable or
blseless currency, but because they
did not believe that the Democracy
contemplated anything OF the kind.
The plank referred 70 was the work Of
Hon. Michael ID. H,rter, one OF the
most persistent and stringent advocates
of a sound currency I'm the whole
country. He carries his views Ia this
regard TO such an extent that he
advocates nothing but gold ~ a
standard Of values, with every.
thing that Issues In the shape
Of n circulating medium convertible
Into old ut the pleasure OF the holder;
silver he would treat US 70 much metal
lie merchandise, having no monetary
value only TO the extent that 1t IL In.
Interchangeable, dollar for dollar, with
the other coinage. or course, we OF
the West and goodly numby ia the
other parts OF the county DONE agree
with him, insisting upon II as we do
that silver Is rs royal metal as gold
and "a intrinsically entitled to be nm
independent circulating medium; but
no matter M to that. The point IL,
would man with such views m Mr..
Hart9r has, and possessing his abilities
and experience NJ publicisl, be likely
to 20 stultiiy.we might say bolie-him-
self as TO favor an experimental On
questionable currency Of any kind?
II lie idle to think 20.
The issues Of state banks are pre-
sumably, In effect, 40 many cerliii-
Gates OF deposit good to the holder for
the amount expressed on the face Ia
current money OF the United States.
The only uncertainty which the holder
would seem to be Justified In feeling with
regard 10 such issues, would bs as
TO the stability, ability aud honesty Of
tbs bank from whence II came; II thoy
acquired sufficient circulation the peo-
pie would thus Of course become invol.
untary partners In n banking business,
but why not? With the ability TO draw
their investments at any time or 10 as.
sign them without Formally on any
occasion, what function Of coined
money Is wanting2 Indeed, II II more
convenient than coin, for the reaeon
| that la Ffsa a,nnnuNa ,an Ia. ,arFtad m,
the person without Inconvenience or
exposure; and when to this is aided
safety and security, certainly nothing
better could be hslIed. The issues OF
the government itself rest on a similar
basis--its ability TO redeem In coin
and its willingness 10 DO 80 ON demand;
with these firmly settled there are no
such demands, the people as n rule
would rather have the paper.
This brings us 10 the question proper
the taxation Of state bank Issues. II
heing settled thing that taxation is u
vexation and that In whatever form II
Is imposed II IA in one way or another
nj one time or another, paid by the
people. the question arises M 10 whai
extent the taxing power should be used
This has lust been settled by what n.y.
pears to be more than half n million
majority In favor OF the proposition
that such power shall be exercised n,
further than the needs Of the govern
ment economically administered au
tually require. When there IL war Of
any other great national calamity upOr
the land, there must be- Increased tax
alton and other burdens imposed IL
order to meet the increased expen
dituros; but when peace prevail
aud the needs OF the government az,
few aud light, the imposition o
tax in any form or for an
purpose beyond enough to pa!
tile bills, IA Just cause for complaint Il
aot resistance; carried too far
assumes the form Of robbery perpetrat
oil for its own sake, not for any law
full or reasonable purpose at all. Tn
Democrats In convention assembled
arrayed themselves against such proce
dure, declaring that customs dues mus
bo scaled aud all forms OF taxation
reduced until the governments In
como anu It's legitimate outlay wer
equal or M nearly 30 M practicable
thus foreslalling the accumulation OF
surplus melting to eNtInvagaure an
invlung corruption. Regarding III,
aKation Of state bank Issues ~
measure VI expense TO tho peOpl
among whom such money circulates
without increasing their security q
adding in the least TO It's adequacy, III
! party, to be consistent with It's profes
!, sious, was compelled to demand III
!, repeal Of tho law under which sue
> tax Is levied. In the Democratic view
1t seemed ms II the remedy against al
=, Insecure aud hazardous cifculatin
= medium was Ia the people themselves
a. ut least, NO FAR as loci
issues nre concerned; such is'u
2 would not be- In circulation
: they did not consent to 1t; and bein
o willing to have It and use II, Il SCENE
I, unreasonable that they should have I
4. pay for the privilege paymeu
n which, Il Il claimed, amounts simply
/. a fno when the ono who pays It HI
g committed no o1onse.