The Lexington dispatch. [volume] (Lexington, South Carolina) 1870-1917, 1893-09-13
Stand ~ the Pledges.

Augusta Chronicle.
It is reasonaoly certain that the
Senate will eolcur in the action of
the House in r.pealing the purchas-
ing clause of the Sherman act.
It is probsbl. that the Senate will
pass the VOORHEES, bill, which pro-
poses to issue currency to national
banks on the face value of bonds de-
posted. This will instantly add
$la.000,00O to the circulating medium
of the country. Rather, the Voor-
hees bill in itself would make posi-
BILE such addition. Granted that the
hanks will promptly accept this pref
fer, the aorman amendment would
remedy an existing evil and give as
surance for the future, That Is the
banks can now contract their cur
rency at will. Indeed, they need not
put dollar in e;rculationif if they so
elect. Mr.. Gorman's amendment,
which Mr.. Voorhees, has expressed
willingness to receipt, provides that
before national bank can withdraw
any of it's currency, application at
sixty, days must be made to the COM
troller of the currency for permis
sion to make such withdrawal; the
amendment further provides that the
aggregated Withdrawals shall in no
calandar month exceed three million
dollars.
The bill should be amended in an
other important particular, namely:
When given amount of currency is
issued to a bank, say S50,00n, on
,a deposit of s52o. gsae st I-njsea atasss
y. J Z = 3shEs sSouid he required
TO put it in circulation, and keep it in
.circulation subject to the provisions
(of the German amendment.
Let US suppose that all this has
been done and that the Wilson bill
and the Voorhees, bill, amended, have
received the Presidents approval
will satisfy the people SO far as tie
question of financial relief is COZ
cerned? Not at all.
Every Democratic pledge on this
important subject Hust he redeemed.
The Democratic platform on which
Democracy swept the country in
1892, declares that "we hold to the
use Of both gold and silver as the the
standard money CT the aountry."
If this declaration means anything
it means bi-meialliSm. A Democratic
Congress and President cannot stop
short OF bi-metallism in the fullest,
broadcst sense of the word. Decla-
tions will not suffice; the pledges
given in the platform must be re-
deemed by statnte:
Again, the platform pledged the
party ''to the the coinage of both
silver apd gold without discrimina-
ting against either metal and with,
out) charge of mintage."
1t is alleged that Mr.. Bourk Coch
ran declared in his speech that the
| word ''free" was not in the Chicago
platform. If by this hair splitting
as to words, the distinguished gen
tleman meant to say that the party
is not pledged to the free coinage OF
silver and gold; he has studied the
platform through glass darkly. He
misinterprets the-language Of ths
platform and places the party in th'
position of one who plays upon word:
in order to deceive,
The platform means exactly what
it says: it is for the free coinage o
silver and gold, and the people viii
not be content until this pledge il
redeemed. It should be redeemed
without delay.
1 Again, the platform declared il
favor of the repeal of the ten pc
cent. tax on State banks; and yet MI
| Springer, chairman of the Committe
on Banks and Currency hastens t.
say that his committee will not re
port bill carrying out this pledg
of the party.
E. We believe that it will be discoy
cred that Mr.. Springer is not tn
committee on the currency. We be
lieve the committee will do its dut
by promptly reporting bill whic.
will strike from the statute books Q
the Union that iniquitous tax.
Give the people the free coinag
of silver and gold; give the peopl
the privilege of State banks of issue
give the people genuine tariff reform
and every section of the country wi
= enter upon an era of prosperit
hitherto unknown in this great coul
fry