The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-06-25
as to our own, and awakening there,
as here, the earnest apprehension of

as to our own, and awakening there,
as here, the earnest apprehension of
statesmen and fnanciers.
The restoration of the equilibrium of
the two metals thus disturbed is
problem, the solution of which is of the
greatest consequence to the prosperity
of both this country and of Europe,
but is wholly beyond our power with
out the cooperation of other nations.
Such cooperation by the united efforts
of statesmen and wage-earners here
and elsewhere, is believed to be near
at hand and to be possible to secure
by earnest and we'll directed efforts.
Free coinage of silver by the United
States alone, can have no other effect
than to change our present standard
to one of silver-now a deprecated
coin-and to retard, perhaps destroy
forever, the success of the movement
now general throughout civilized
countries, for the restoration Of free
bimetallic coinage in the principal
mints of the world. The proposition to
separate ourselves from the great ma
tions of the world and adopt the none
tary standard Of Mexico and China
does not comport with the pride and
financial dignity of the state Of New
York or the United States.
1t should be resisted with the fervor
of both partisanship and patriotism
by Democrats everywhere, when the
adoption Of such a course threatens, as
it does, unteld evils to our nations
commerce and Industry.
PRINCIPLES OFFERED.
For these reasons and with these
convictions, the Democrats Of New
York In convention assembled, make
~. c1JI1 - f1,of,- >tx1
ciples and appeal to the Democrats
of other states to join with them in
incorpor ating these principles in the
party platform to be adopted at Chi
Cago.
We favor gold and silver as the
standard money Of the country. We
are opposed as a permanent financial
policy to gold monometallism on one
hand, or to silver monometallism on
the other hand. The pledge contained
in the repeal of the Sherman bill, which
repeal was passed by Democratic
congress and approved by Democrat
ic president should be faithfully car
ried out, wherein it was declared that:
'eThe efforts Of the government should
be steadily directed to the establish
ment of such safe system Of bimetal-
lism as will maintain at all times the
equal power of every dollar coined or
issued by the United States In the
markets and in payment of debts"
We believe that such bimetallism to
which the. nation Is solemnly pledged.
can only be secured and permanently
maintained through the concurrent ac-
ton of the leading nations of the
world.
Neither this country nor any other
country, independent and alone, is able
to maintain 1t and it would be folly
to attempt it. Being so convinced. we
are opposed to the free and unlimited
coinage of silver in the absence of the
cooperation Of other great nations.
We declare our belief that any at
tempt on the part Of the United States
alone to enter upon the experiment Of
free silver coinage would not only
prove disastrous to our finances, but
would retard or entirely prevent the
establishment of international bimetal-
lism. Until international cooperation
for bimetallism can be secured-to
which end all our efforts as a govern
ment, and as people should be in
good faith directed-we favor the rigid
maintenance Of the present gold stand
ard essential to the preservation of our
national credit, the redemption of our
public pledges and the keeping invio-
late of our country's honor. We insist
that all our paper and silver currency
shall be kept absolutely at a parity
with gold.
The Democratic party has ever been
and still is the hard money party, and
it will preserve that record. 1t is op-
posed to legal tender paper money as
part Of our permanent financial sys-
tenn, and 1t refuses to sanction any pa
per currency inconvertible with coin.
The United States notes and treasury
L., - l1I>k
ernment. should be gradually paid off,
retired and cancelled. This should,
and must be done in such a manner as
to cause no contraction Of the circula-
ting money of the country. So long as
they exist, however, and are permit
ted to circulate as money they should
be redeemable at all times upon de-
mand in the standard money of the
country
PUBLIC CREDIT.
The Democratic party is pledged to
the resolute maintenance Of the pub
lie credit at all times and under all cir
cumstances, and it is therefore. op-
posed to the repeal of any existing
statute which enables the secretary of
the terasury by the issue of bonds or
otherwise to provide an adequate fund
for the redemption in gold of our pa
per obligations whenever necessary.
We reiterate our adherence to the
principle of tariff for revenue only.
We are opposed to government part
nership with protected monopolies and
we demand that import duties, like
other taxes, should be impartially laid
and their imposition limited to the ne
cessities of the government, economi-
cally administered. Federal taxation
should not be1imposed to benefit indi-
vidual interests at the expense of the
general welfare. We repudiate the
doctrine that 4ts is the province of the
government BY the exercise or abuse
Of the power Of taxation to build up
one mans business at the expense Of