Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1893-02-18
State Shfn-PIasters.


The fact that the prevailing senti-
meDt of the Democratic party on the
currency question is favorable to the
restoration of the old State banking
system can not be doubted for mo-
ment; and it is equally certain that
this sentiment is aggressive and de-
termined. Those who suppose that
the issue can be evaded or postponed
are sadly mistaken. The Globe
Democrat says that it will be brought
forward at the beginning of the next
Congress, and it will have to be met
in a direct and practical way. The
demand in the Chicago platform for
the repeal of the tax which alone
protects the country against this
monstrouS evil was not inserted for
the mere purpose of pleasing few
voters here and there. 1t was de-
Iiberate expression of political inten-
ton, and it was Endorsed by the sup
porters of the Democratic ticket with
the understanding that it should be
carried out. The idea was not a
new one by any means The subject
had been presented in the House only
two weeks before the meeting of the
convention, and significant vote had
been taken upon it. A motion was
made to suspend the rules and pass
bill repeating the tax in question, and
"a Democratic members voted in the
affirmative. That was regarded as
good reason for putting such plank
In the national platform. The clam
or for more money was thus approved,
and promise given that in the event
of Democratic success, the States
should have the privilege Of increas-
ing the currency at their pleasure. In
short, the Democratic party stands
thoroughly committed to this most
pernicious plan of imitation, and it
has the power to redeem it's pledge in
the matter
There is no greater danger in sight
for the country than the probability
that the next Congress will pass an
act in accordance with the view that
each State should be left free to pro-
vide paper money for it's own people
in its own way. The repeal Of the
tax on the issues Of State banks is
the only thing that is required to in
augurate the local currency system.
Sixteen of the States have laws au-
thorizing and regulating such cur
rency, and the banks could begin
issuing it at once upon the removal
of the Federal restriction without
any further legislation. 1t is easy to
Imagine what results would enSue.
The experiment has been tried, and
we know how it turned out. An in
secure and irredeemable currency is
the worst misfortune that can be-
fall any country. It is the
source of constant business con-
fusion, panic and distress; and it
bears with special severity upon the
iaboring classes and the people o.
small means. The claim that it can
be made as good as Federal currency
by providing proper conditions as to
security and redemption is a manifest
absurdity. 1t can not be invested
with the legal-tender quality under
any circumstances, and that alone is
sufficient to condemn and depreciate
it. Besides, there are only five or
six of the States at most that could
be depended upon to adopt reasonable
safeguards. The sentiment in favor
of imitation takes no account of the |
consideration Of value. 1t demands |
more money regardless of everything
but the number Of bills. That is
what the proposed repeal of the pro-
hfbitory tax means; and if the coun-
try escapes such a calamity it will be
because Cleveland is more Of a Re-
publican than Democrat in that re-
lation, with the courage to use his
veto in defense of sound financial |
DrinciDleS.