The true northerner., 1896-07-15


coinage at a ratio of IL to ] could be
safely inaugurated by the United
States, independently of other ma
tions; we still hold TO that belief.
The free coinage would surely mean
mono-metallism of silver, in the
place of mono.metallism of gold as
at present. The change would be
neither salutary nor honest. AS well
might the government decree to
make the dollar consist of one-half
as many grains of gold as at the pres
ent time. The proposition is but
revival of the old fiatism of the green
back party, which was exploded
years ago, except that the green
hacker wanted 100 per cent of fiat,
while his modern imitator desires a
fiat of but 80 per cent. While many
Americans would like genuine
system of bi-metallism, few indeed
there are who would welcome
mono-metallism of silver. They in
fnltely prefer the existing condition.
Again, we have repeatedly point out
the desirability of an international
agreement, as the ideal mode of ac-
complishing the attainment of a
bi-metallic standard. To this the re-
publican party is pledged. No one
doubts but that the republican party,
backed bv the wealth and power of
the United States of America, will be
able to bring about this desirable
consummation. International agree
ment is wiser and safer solution of
the currency question than is the
dangerous experiment of free coin
age of silver at a ratio of 16 to /.
The democracy is divided against
itself. While its national admins
tration has issued the only bonds is
sued since the war except for refund
ing purposes, its national convention
declares against such issues. While
such declaration is surely in accord
with the temper of the American peo-
pile, it will not enable the democracy
to escape the responsibility for such
bonds. Indeed, they are the creature
of democracy, and but for the ascend
ency of the democratic party they
would not have been issued.
No country at any time in the his
tory of the world, has had better or
safer, a more convenient or popular
type of money than the national bank
bills. These the democracy de-
nounces and demands that all paper
money be issued direct by the gov
ernment. Here again is strange
contrast with the democratic princi-
piles of four short years ago, when that
party found no fault with the nation
al bank bills, and even went further
and demanded the repeal of the 10
per cent tax on the issues of state
banks, that these also mi ght issue
money. The national banking sys-
TEN, under republican rule, was
fast tending towards the end of its
existence, not because of any objec-
tion to the system, but because the
government debt was being so rapid
ly paid that in few short years
there would have been no interest
bearing bonds on which to base the
circulation, and the republican party
would never have consented to the
issue of new bonds merely for the
purpose of perpetuating the national
banking system. But now, after
three years of democratic rule, the
new bonds, amounting to s262,00O,-
600, render the time when the interest
bearing debt will be too small for
banking purposes, far in the future.
One peculiar characteristic of the
democratic party is that it never
learns anything from experience.
No policy of any party in recent
years has been fraught with such
disastrous results to the country as
the ''tariff for revenue only" policy of
the democracy. And yet the party
comes up smiling this year. and re-
affirms its belief in its pet tariff pol
icy, the practical workings of which
are exemplifed in the present Will
SON. German law. The declaration of
the democrats in this particular alone
is sufficient to condemn it to defeat,
no matter what else it may declare