The western sentinel., 1893-08-31
STATE BANKS.

The desirability of the issue of a
circulating medium by State banks
is a phase of our political economy
regarding which people may easily
differ. Against the proposition of
State banks it is urged that the peo-
pie of the nation are entitled to have
the most stable and certain kind of
currency; that to permit the lssu-
ance of other money substitute ere
ates confusion and instability. Pres
ident Madison is quoted as saying
that sit is the duty of the govern
ment to establish national curren-
cy." 1t is asserted that whenever
the issuance of money was left to the
national government, that duty Was
we'll performed; while, on the other
hand, when the people were compell-
ed to use state currency, that cur
rency fuctuated from 10 to even so
per cent. If the experience of this ma
tion establishes as fact that State
currency is not stable, is not every
where acceptable, then the burden
would be upon the advocates of
State bank notes to show wherein
there would be benefit. People will
not believe theories against expert
ences. 1t is related that in 1853 a
man once stood at a railroad station
where crowd was gathered, and the
agent consulted a book in order to
find out the value of the different bills
that were offered. The bank notes
issued in one State were not as good
as the notes issued in another State.
Would not this be the case again?
VOORHEES, ON CLEVELAND.
In his remarkable speech in the
Senate the distinguished member
from Indiana paid this remarkable
tribute to the President:
Sir, who has the hardihood to as
sert or to insinuate that Grover
Cleveland is a dissembler, a hypo-
critic, practicing deception upon his
countrymen in order to crafty his
personal ambition? On the contrary,
his ftarless frankness in the express
sion of his views on all public ques
tions without regard TO their effect
upon himself has long been conceded
by friend and foe to be the leading
characteristic of his mind. Lord
Bacon says:
1t is the weakest sort of politicians that are the
greatest dissembleIs.
| think it will be admitted by all
that Mr.. Cleveland belongs to the
strongest and not the weakest school
of political thought and action. The
secret of his immense strength with
the plain masses of the American
people has long since been solved. By
his bold, clear utterances, followed
by his manly and direct action, he
has inspired universal and absolute
other, in his perfect integrity of pur-
pose, in his unfaltering patriotism,
his supreme love of country, as well
as in his stalwart and commanding
ability.
If l am reminded that he did not
repeat his letter of acceptance in his
recent message, recommending the
repeal of the Sherman act, my an
swer is, that while such reassertion
of his well known views would have
gratified many worthy and well
meaning people; yet it was not nec
essary on his part in order to retain
the confidence of the people that he
was in favor of the coinage and use
of both gold and silver on terms
which would insure parity in their
values. He has never recalled, re-
tracted, or explained away a single
word OF his letter accepting the nom
ination for the Presidency. His as
surances in that letter are today
alive and in force, and as binding
this hour as they were when first Civ
Ell to the world; and l hereby declare
that / am willing to stand or fall by
my faith in the truth and honor of
Grover Cleveland and in his we'll
known fidelity to pledges when once
they are made.