The herald., 1896-09-10

against both, and national safety as well
as domestic security is to be found In
the careful observance of the limita-
tions which they impose. 1t will be noticed
that while the United States guaran-
tees to every state a republican form
of government and is empowered to pro-
tect each state against invasion. it is
not authorized to interfere in the domes-
tic affairs of any state except upon the
application of the executive when the
legislature can not be convened.
This provision rests upon the sound
theory that the people of the state. act
ing through their legally chosen repre-
sentatives. are. because of their more in
innate acquaintance with local condi-
tions. better qualified than the president
to Judge of the necessity for federal as
sistance. Those who framed our consti-
tuition wisely determined to make as
broad an application of the principles
of local self government as circumstan-
ces would permit, and we cannot dis
pute the correctness of the position taken
by them without expressing q distrust
Of the people themselves
ECONOMY
Since governments exist for the pro-
lection of the rights of the people and
not for their spoilation, no expenditure
of public money can be justified unless
that expenditure is necessary for the
honest, economical and efficient admin
istration of the government. In deter
mining what appropriations are neces-
sary the interest of those no pay the
taxes should be consulted, rather than
the wishes of those who receive or dis
burse public monies.
An increase in the bonded debt 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 were necessary to secure gold
with which to redeem United tates
notes and treasury notes, but this neces-
sity has been imaginary rather than real.
Insteod of exercising the legal right
vested in the United States to redeem its
coin in either gold or silver, the execu-
tive branch of the government has fol-
lowed precedent established by for
mer administration and surrendered the
option to the holder of the obligations
This administrative policy leaves the
government at the mercy of those who
find a pecuniary profit in bond issues
The fact that the dealers in money and
securities have been able to deplete or
protect the treasury according to their
changing whims, shows how dangerous
1t Is to permit them to exercise control
ling influence over the treasury depart
ment. The government of the United
States, when administered in the in
terest of all the people, is able to estab-
lish and enforce it's financial policy not
only without the aid of syndicates. but
in spite Of any position which syndicates
may present. To assert that the gov
ernment is dependent upon the good will
or assistance of any portion of the peo-
pie, other than constitutional majar-
pie, other than constitutional major
ment in form but without vital force.
NATIONAL BANK CURRENCY.
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 de-
20 randed by the interests of the people.
The present attempts of the national
banks to force the retirement of the
United States notes and treasury notes
in order to secure a basis for larger
issue of their own notes, illustrates the
danger which arises from permitting
them to issue their paper as circulat-
ing 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 persistently demand that those
United States notes which draw no in
terest shall give place to interest-bear-
ing bonds in order that the banks may
collect the interest which the people now
save. To empower national banks tc
issue circulating notes is to grant val
liable privilege to a favored class, sur
render to private corporations. the con
troll over the volume of paper money ano
build up class which will claim vest
ed interest in the nations financial pol
icy. Our United States notes commonly
known as greenbacks, being redeema.
ble in either gold or silver at the optior
of the government and not at the optior
Of the holder afe safer and cheaper TO
based upon interest bearing bonds.
THE MONROE DOCTRINE.
A dignifed but firm maintenance O
tue loTelSu pOllcy set IOrtn Dy ffeSlden
Monroe and reiterated by the president
who have succeeded him, instead O
arousing hostility abroad, is the bes
guarantee of amicable relations witt
other nations. 1t is better for all con
cerned that the United States should re
sist any extension of European author
ity in the western hemisphere rathe
than invite the continual irritation
which would necessarily result from an.
attempt to increase the influence o
monarchical institutions over that por
tion Of the Americas which had beel
dedicated to republican government.
PENSIONS.
No nation can afford to be unjust t.
its defenders. The care Of those VIII
have suffered injury in the military am
naval service of the country is sacre
duty. A nation which, like the Unite
States, relies upon voluntary servic
rather than upon large standing army
adds to its own security when it make
generous provision for those who hav
rtsked their lives in its defense and 70
those who are dependent upon them.
PRODUCERS OF WEALTH.
Labor creates capital. Until wealth i
produced by the application Of brain an
10 tbo of ic +,-