San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-09-09
3 San Antonio, Texas Wednesday September 9, 1896

sell government as circumstances
would permit, and we cannot dispute
the correctness of the position taken
by them without expressing distrust
of the people themselves.
Since governments exist for the pro-
lection Of the rights of the people and
not for their spoliation no eXpendi-
ture of public money can be justified
unless that expenditure is necessary
for the honest, economical and efficient
administration of the government. In
considering what appropriations are
necessary, the interests of those who
pay should be consulted rather than
the wishes of those who receive or dis
burse public money.
An increase in the bonded indebted
ness of the United States at this time
is entirely without excuse. The issue
of interest bearing bonds within the
past few years has been defended on
the ground that they have been neces-
| sary to secure gold in order to redeem
United States notes and treasury notes,
but this necessity was imaginary rather
than real Instead of exercising the
| legal right bestowed on the United
States to redeem it's coin in gold or sill
| yer, the executive branch of the gov
eminent had followed a precedent es-
tablished by a former administration
and surrendered the option to the hold
er of the obligation. This administra-
tive policy leaves the government at
the mercy of those who find a pecuniary
profit in bond issues. The fact that
dealers in money and securities have
been able to deplete or protect the
treasury according to their changing
whims shows how dangerous it is to
permit them to exercise controlling
influence of the treasury department.
The government of the United States
when administered into the presence
of people to establish financial policy
not only without the aid of syndicates,
but in spite of any opposition which syn
| dicates may present. To assert that
| the government is dependent upon the
| good will or assistance of any portion
! of the people other than a constitu-
| tional majority is to confess that we
| have a government in form but with
| out real force.
The position taken by the platform
| against the issue of paper money by ma
| tional banks is supported by the high
| est Democratic authority, as well as
demanded by the interest of the people.
| The present attempts of the national
| banks to force the retirement of United
| States notes and treasury notes to Sc
| cure a large basis of circulation for
| their own notes, illustrates the danger
arising from permitting them to issue
! their paper as a circulating medium.
! The national bank note being redeem
! able in lawful tender has never been
better than the United States notes
which stand behind it, yet the banks
! demand that the United States notes
which draw no interest shall give place
to the interest bearing notes in order
that the banks may draw the interest
which the people now save. To author
ize the banks to issue notes is to grant
a valuable privilege to a favored class,
| to surrender to private corporations
the control over the volume of paper
money and build up class which will
| claim a vested interest in the nations
| financial policy. Our United States
notes commonly known as greenbacks,
being redeemable in either gold or sill
yer at the option of the government,
and not the option of the holder, are
safer and cheaper for the people than
national bank notes based upon inter-
! est bearing bonds.
A dignified 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 amicable rela-
tions with other nations. 1t is better
for all concerned that the United States
should resist any extension of Euro
pean authority in the Western Hemis-
phere, rather than invite the continual
| irritation which would necessary re-
suit from any attempt to increase the
influence of monarchial institutions
over that portion of the Americas
which has been dedicated to republican
| government.
No nation can afford to be unjust to
| it's defenders. The care of those who
have suffered injury in the military
and naval service of the country is
sacred duty. A nation which like the
| United States relies upon volunteer
service rather than a large standing
army adds to it's security when it
makes generous provision for those
who have made sacrifices for its de-
Tense, or those who are dependent on
| them.
Labor creates capital until wealth is
procured by the application Of brain
and muscle to the resources Of this
country, there is nothing to divide
among the non-producing classes of
society. Since the 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 it's voting
strength among those who are proud
tn he known as the common people,
"a a. ,,Io3,aS ;+self m nropose and en-