The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-10-01

money Vas plenty, speculation .cfive and
Wild State banks multiplied ike weeds
In every town. The country xss flooded
wiih bridesmaids paper currency Every
adveuturer who could raise 500 or less
started shlnpIsstsr concern and issned
rsans Of promises to par. Then came the
aush times Of rag money and the flush
times Of the Democracy, for with the death
OF the Federal party after the war Of 1915
there Ess no ether party In the land but
Democracy.
OF ls8 members Of congress from twenty
two states in November. ISIS, there we're
but twenty-five Fsderalists and five or SIX
independents During the era Of paper
money the Democratic party vas in power
in every state IN the Union save Della
ware.
United States Bank IN isl8 L. became
Isw by the signature Of President Asdi-
son. and the principle of the bank years
before bad the endorsement of President
jefferson, who signed the act creating the
Branch Bank Of the United States at New
Orleans. When the Democracy reached
power banks multiplied az an amazing
rate, and sbou. every bank organized in
the various states of the Union went into
operation under Democratic favor.
The history Of bank charters in the state
Of New York between ISIS and 1888 makes
up a chapter of shameless corruption.
After President Jackson removed the de-
posts Of the United States from the ma
tional bank. wildcat banks sprang up from
the Atlantic TO the Mississippi. Irredeem-
able rag currency inundated the country.
And yet, IN face Of these facts. we are told
that the Democratic party is the party of
hard money and sound currency.
The deranged condition of the currency,
the almost entire prostration Of business,
the closing of workshops in 1919 was due
to the unwise legislation under the adj
ministrations of Presidents Jefferson.
Madison and Monroe. Historically Ii is
true that the Democratic party has been
the party Of unsound finance from the
days of Thomas Jefferson. who always
fought Hamiiton's financial policy. down
to the days of Voorhees,. Bland, Morgan,
Crisp & Co. There have been exceptional
Democratic statesmen who have been
sound financiers like Benton, Tiiden and
Van Buren,. but the record of the Demo.
cratic party from the days of Jefferson has
been that of rotten finance, and despite
the fact today that President Cleveland Is
conspicuously hostile 20 free silver the
majority Of his party in congress voted for
free silver; the majority of the Demo
cratic state conventions thus far have
voted for tree silver.
The Democratic party is responsible for
the "hard times" OF today, as IL was for
the "hard times" of 1919 and 1887 The
campaign of ls4o which elected Harrison
over Van Buren,. was due to the reckless
financial and tariff policy of the Demo
cratic party, which eliminated in the
frightful panic of 1897 and the consequent
''hard times" Jackson saw the point
when too late. and Van Buren,, really
sound financier. was wrecked by a storm
for which he was not personally RESPONSE
bic. as the evil was wrought and the cata..
trophe unavoidable when he entered the
White House.
The Democratic party today is declaring
In nearly every state for free silver; a major
lily of them voted that way in both houses
of congress, aud the Democrats in con-
gress are willing to carry out their national
platform to the extent of repeating the tax
on state bank circulation and providing
for wildcat currency.