The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-09-10

notes; but this necessity has been imaginary
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 of the government has fol-
lowed precedent established by former
administration and surrendered the option to
the holder of the obligations. This admin
istrative policy leaves the government at the
mercy OF those who find q pecuniary profit
IN bond issues.
The fact that the dealers in money and
securities have been able to deplete or pro-
tect the treasury according to their changing
whims, shows how dangerous 1t is to permit
them to exercise controlling interest over
the treasury department. The government of
the United States when administered in the
interest of all the people, is able to establish
and maintain its own financial policy not
only without the aid Of any syndicates but
in spite of any opposition which the syndi-
cate may exert.
To assert that the government is depend
ant upon the assistance or good will of a
portion of the people other than Econstitu-
tional majority is to assert that we have q
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 well as demanded
by the interests of the people. The present
attempt of the national banks to force the
retirement of United States notes and treas
ury notes, in order to secure basis for a
larger issue of their own notes, illustrates
the danger which arises from permitting
them to issue their paper as circulating
medium. The national bank note being
redeemable in lawful money has never been
better than the United States note, which is
behind it, and yet the banks persistently
demand that the United States notes, which
draw no interest, shall give place to interest
bearing bonds in order that the banks may
collect the in crest which the people now
save. To empower national banks to issue
circulating notes is to grant a valuable priv
ilege to favored class, surrender to private
corporations the control over the volume of
paper money, and build up class which
will claim vested interest IN the national
financial policy.
The United States notes commonly known
as greenbacks, being redeemable in either
gold OF silver at the option of the govern
ment, and not at the option of the holder
are safer and cheaper for the people than
national bank notes based upon interest
bearing bonds.
The Monroe Doctrine.
A dignifed but firm maintenance of the
foreign pelicy first set forth by President
Monroe and reiterated by the Presidents
who have succeed him, instead of arousing
hostility abroad, is the best guarantee Of
amicable relations with other nations. 1t is
better for all concerneds that the United
States should resist any extension Of Euro
pean authority in the western hemisphere
rather than invite the continual irritation
which would necessarily result from any
attempt to increase the influence of mon
archical institutions over that portion of the
Americas which had been dedicated to re-
publican government.
Pensions.
No nation can afford to be unjust to its
defenders. The care of those who have
suffered in the military and naval service of
the country, is sacred debt. A nation
which, like the United States, relies upon
volunteer service rather than upon large
standing army, adds to its own security
when it makes generous provisions for those
who have risked their lives IN its defence,
and for those who are dependent upon them.
The Producers of Wealth.
Labor creates capital. Until wealth is
produced by the application of brain and
muscle to the resources of this country,
there is nothing to divide among the nom
ola IS L.
producers of wealth create the nations
prosperity in time of peace, and defend the
nations flag in time of peril, their interests
ought at all times to be considered by those
who stand in official positions. The Demo-
cratic party has ever found its voting
strength among those who are proud to be
known as the common people, and it pledges
itself to propose and enact such legislation
as is necessary to protect the masses in the
free exercise of every political right and IN
the enjoyment of their Just share Of the re-
wards of their labor.
Affiliations.
I desire to give special emphasis to the
plank which recommends such legislation as
is necessary to secure the arbitration of diff
fculties between employers engaged in in
terstate commerce and their employees. Ar
bitration is not new idea, it is simply an
extension of the court of justice. The labor
ing men of the country have expressed de-
sire for arbitration and the railroads cannot
reasonably object to the decisions rendered
by an impartial tribunal.
Society has an interest even greater than
an interest of an employer or empioye and
has right to protect itself by courts of
arbitration against the growing inconven-
fence and embarrassments occasiened by
disputes between those who own the great
arteries of commerce on the one hand and
the laborers who operate upon the other.
Immigration.
While the Democratic party welcomes to
the country those who come with love for
our institutions and with determination and
ability to contribute to the prosperity of our
nation, it is opposed to the dumping of
criminal classes upon our shores and to the
importation of either pauper or contract
labor to compete with American labor.
Ipjunctions.