The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1896-09-17

framed our constitution wisely deter
mined to make as broad an applica
ton of the principles of local self-gov
ernment as circumstances would per
init and we cannot dispute the cor
rectness of the position taken b,
them without expressing a distrust OF
the people themselves.
ECONOMY.
Since governments exist for the pro.
lection OF the rights of their people
and not for their spoilation, no expen-
diture of public money can be justi.
he'd unless that expenditure is neces-
sary for the honest, economical ad-
mlnistration of the government. In
determining what appropriations are
necessary the interests Of those who
pay the taxes should be consulted
rather than the wishes of those who
receive or disburse public moneys.
BONDS.
An increase in the bonded debt OF
the United States at this time is en-
tlrely without excuse. The issue of in
terest bearing bonds within the last
few years has been defended on the
ground that they were necessary to
secure gold with which to redeem
United States notes and Treasury
notes; but this necessity has been i'm
aginary rather than real. Instead OF
exercising the legal right vested in the
United States to redeem its bonds in
either gold or silver, the executive
branch ofthe government has followed
a precedent established by former
administration and surrendered the
option to the holders of the obligations
This administrative policy leaves the
government at the mercy of those who
find pecuniary profit in bond issues
The fact that the dealers in money
and securities have been able to de-
plete or protect the Treasury accord
Ing to their changing shows how dan
gerous it is to permit them to exercise
controlling influence over the Treas
ury Department. The government OF
the United States when administered
in the interest of all the people is to
establish and maintain its own hnan-
clal policy, not only without the aid
of any syndicates but in spite of any
oppositions which the syndicates may
exert. To assert that the government
is dependent upon the assistance or
good will of a portion of the people
other than constitutional majority, is
to assert that we have government in
form, but without vital force.
NATIONAL BANK CURRENCY.
The position taken by the platform
against the issue of paper money by
national banks is supported by the
highest Democratic authority, as we'll
as demanded by the interests of the
people. The present attempt of the
National banks to force the retirement
Of United States notes and Treasury
notes in order to secure a basis for a
larger issue of their own notes illus
trates the danger which arises from
permitting them to issue their paper as
a circulating medium. The national
bank note, being redeemable in lawful
money, has never been better than
the United States note, which stands
behind it, and yet the banks persist
emily demand that these United States
notes, which draw no interest, shall
give place to Understanding bonds,
in order that the banks may collect
the interest which the people now save.
! To empower national banks to issue
circulating notes is to grant valuable
privilege to favored class, surrender
10 private corporations the control
over the volume of paper money and
build up a class which will claim a
vested interest in the national finan
cial policy.
The United States notes, commonly
known as greenbacks, being redeema-
bic in either gold or silver, at the op-
ton Of the government and not at the
option Of the holder, are safer and
cheaper for the people than the nation
al banks notes, based upon interest
bearing bonds.
THE MONROE DOCTRINE.
A dignihed, but firm, maintenance
of the foreign policy first set forth by
President Monroe, and reiterated by
!, the Presidents who have succeeded
him, instead Of arousing hostility
abroad, is the best guarantee Of ami
/ cable relations with other nations. L
is better for all concerned that the
United States should resist any exten
sion of European authority in the
Western hemisphere rather than invite
the continued irritation which would
necessarily result from any attempt te
increase the influence of monarchia
institutions over that portion of the
Americas which has been dedicated
to Republican government.
PENSIONS.
No nation can afford to be unjust t
its defenders. The care of those VIII
| have suffered in the military and nava
service of the country is sacred duty
, A nation which, like the United States
relies upon volunteer service rathe
than large standing army, adds t.
its own security when it makes gener
Gus provision for those who have riskes
their lives in its defense and for those
, who are dependent upon them.
T THE PRODUCERS OF WEALTH.
Labor creates capital. Until wealt
: is produced by application of brai'
+ and muscle to the resources Of thi