The times. [volume] (Richmond, Va.) 1890-1903, 1894-12-07
THE NEW YORK TRIBUNE's VIEW or
TrY gAeE.


course. that the New York Tribune "ouid
onpose any plan for reformation OF the
currency that came from a Democratic
administration. however perfect 1t might
be. We had hardly hoped. however that
~ uould be indiscreet enough TO place
it's opposition upon the real ground on
which It is based. Such, however is the
case. 1t says:
"The President has not heard OF the
elections last month. or considers 1T dig
nifed TO take no notice of an attempt
by the people TO reverse the course OF
their Government. The much-heralded
PROPOSAL TO reconstruct the currency
proves upon examination. TO be little
better than a thinIy disguised plan to
revive the old Democratic State bank
SYSTEM.
That Is 1t exactly. The condition OF
things which existed all over this Union
in 1861 was 1.-THE old Democratic State
bank oystem." 1t was the system which
existed when our Constitution was franz
ed: IL was the condition which the franz
ers of the Constitution intended, as scnsi-
BILE men. should continue to exist; it was
the coalition which at once, on the com
mencenent of the Government, had to
fight fDr its existence against policy
devised by Alexander Hamilton, the
father of the Republican party of to-day
70 sub&idize the wealthy classes into
being the allies and supporters of the
Federal Government; ii was the condition
which continued that struggle under An
drew Jackson's leadership until it stran-
ged and destroyed Hamilton's conception
and its deadly enemy the old Bank of
the United States. and it was the condi-
ton which thereafter. from 1887 to 1861,
covered this country with the banks of
the people, that gave every neiShborhood
an abundance of currency conveniences,
and enabled every man TO secure the
currency that his credit entitled him To
and that his business required, and that
spr lad peace, contentment and prosperity
all through the people, with no money
kings anywhere. The New York Tribune
hates that system because II was the
Democratic system. The Tribune is a
lineal descendant of Alexander Hamilton,
aad believes in his idea that the true
way TO rute a people is TO buy their ad-
harence to government by favors and
bounties and protective tariff laws. True
Democracy abhors the whole business. 1t
says that government is instituted to
protect the citizen against foreign ag
gression and to prevent one citizen tres
passing upon the rights of another. and
when that is accomplished it is govern
meat's business 10 stand on one side and
let each individual citizen work out his
own destiny as he best can, with perfect
liberty TO make contracts for whatever
ne chooses. and TO refrain from making
other contracts that do not suit him
In pursuance of this idea true Democracy
says that all government has TO do with
the money of a country is TO examine
the precious metals and see that they
are up TO a certain standard Of iineness,
and then to stamp upon each piece the
number Of grains that IL contains, after
which the people are to make any con-
suit them. and government is TO have
nothing whatever TO do with those con-
tracts.
When the final fight between Hamilton's
idea and the Democratic idea was COM
pleted by the refusal OF a Democratic
Congress TO recharter the old Bank of the
United States. Democratic doctrines con-
corning money took full possession OF this
country and held IT until the war. and
no people ever had a monetary system
that brought them such prosperity as the
people OF the United States had. The
necessities OF the war caused the Govern
ment 10 abandon the Democratic doctrine
and return 10 Hamilton's ideas, because
Hamiiton's ideas centralized the Govern
ment. enormously increased It's power
over the citizens. and enabled II 10 ex.
tort forced loans from them. The neces-
stiles Of war made people submit 10 the
exactions. and continuation OF them
finally educated the people to the belief
that they were the Governments rights.