The times. [volume] (Richmond, Va.) 1890-1903, 1896-07-12
THIS NOT DEuoCrac,

We pointed out yesterday the iuGplery
that there Is IN the Chicago platform
over the matter Of paper issues. and how
that platform has sought 20 wink with
one eye at the Populist doctrine that
money can issue out of government as
water runs out OF hillside. while. with
the other IL hlinked az the Democrats
who want State banks. But while the
platform gets astrlde the proposition there
IS no straldle about the candidate. Ife
adopts the Populist theory right out and
openly proclaims il as his own.
In his speech in reply TO Senator Hin.
in the convention. upon the platform. Mr.
Bryan said:
we say i'm our platform that the right
10 coin and issue money is 20 function of
government We believe that that power
of sovereignty can 10 more with safety.
be delegated 10 private corporations than
the power TO enact penal statutes or to
levy taxation. Mr.. Jefferson. who was
once regarded as good Democratic aii-
thority, seems 20 have had q different
opinion from the senator from New
York. TheN tell as that the Issuance Of
paper money is the function a. the banks
and that the Government ought TO 10 out
OF the banking business. ! stand with
Jefferson ana tell them. as he did that
the issue OF money is a function Of gov
eminent and that the banks ought 10
80 out Of the governing business"
Now there Is no misunderstanding this.
Mr.. Bryan intends 10 be understood ms
proclaiming the Populist creed that
money issues out Of government. and that
" "a trtrars.r-r.s.f
Is money. Whatever We may think OF
his doctrine. VIC at least know Just what
it is
We must confess that we are very much
taken by one part Of Mr.. Byran's state
ment OF his creed. When be SAYS that
the Government alone can coin and issue
money. and that it can no more delegate
that function 10 private corporation
than IT can delegate 90 such q corpora
lion the power 10 enact penal statutes
or 90 levy taxation. he states a.
proposition that commands our very
heartlest assent But we understand
the word money 10 mean one
thing MIR. Bryan understands IL 20 mean
another. As we understand IL. there is
and can be but one money. which is coin.
But Mr.. Bryan thinks that paper cur
rency IS also money. and he seems TO
look upon the issues OF private banks as
being just as much money as the is-
sues OF government. lie intends TO saw.
therefore. that the Government alone can
coin metallic money and that 10 alone
can issue the paper currency which the
people are 10 use as a substitute for
money. and that when the Government
makes these issues OF paper they are
just as much money as metallic money.
In saying this. therefore. he proclaims
the whole theory OF the Populsts that
money issues out or government as water
cut OF a hillside. and ne extends this
theory a little by saying that there shall
be no paper issues except boy the Govern
ment.
lie proclaims himself full-aedgei Top
ulist and at The same time ne gratuitous
iy rcpudlates the good ola Democratic
doctrine that the States may charter
banks 20 issue notes.
Mr.. Bryan will ind Il Iinlcult mattor
70 prove that Mr. Jefferson stands
sponsor for his faith or any part OF IL
We care not how much Mr. Bryan may
say that our State banks shall not issue
notes. AID we care not how much the
Chicago platform may say It. We shall
always insist. nevertheless. that Mr..
Bryan's PoDulistic theories arc at war
with the fundamental principles Of
Democracy. and that those principles start
at the proposition mat the Federal Gov