The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-09-16

tratiOn and surrendered the OptlOn TO
the holder of the obligations. This
administrative policy leaves the gov
ernment at the mercy of those who
ino pecuniary profit in bond issues.
The fact that the dealers in money
and securities have been abe to de-
plete or prote ct the treasury according
to their changing whims shows how
dangerous it is to permit them to ex-
ercise a controlling influence over the
treasury department. The government
of the United States, when administer
ed in the interest of all the people, is
able to establish and maintain its own
financial policy, not only without the
aid of syndicates, but in spite of any
opposition which the syndicate may
exert. To assert that the government
is dependent upon The assistance or
good will of portion of the people
other than constitutional majority,
is to assert that we have n government
in form, bat without vital force.
The position taken by the platform
against the issue of paper money by
national banks is supp 'rted by tue
highest Democratic authority as we'll
as demonstrated by the interest Of the
people. TIL present attempt Of the
national banks TO force the retirement
of United States notes and treasury
notes IN order TO secure basis for a
larger is ue of their own notes, illus
trates the danger which arises from
permitting them to issue their paper
as circulating medium. The nation
al bank note being redeemable in law
full money, has never been better than
the United States note which stands
behind it, and yet the banks persist
emily demand that these United States
notes which draw no interest shall
give place to interest bearing bonds in
order that the banks may collect the
interest which the people now save.
To empower national banks to issue
circulating notes is to grant a valua-
BILE privilege to a favored class, sur:
render to private corporations the con-
troll over the volume of paper money,
and build up class which will claim
vested interest in the national inan.
cial policy. The United States notes,
commonly known as greenbacks, be-
ing redeemable in either gold or silver
at the option of the government and
not at the option of the holder, are
safer and cheaper for the people than
the national bank notes based upon
the interest bearing bonds.
A dignifed 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 ami
cable relations with other nations. 1t
is better for all concerned that the
United States should resist any exten.
sion of European authority in the
western hemisphere rather than in
vite the continual irritation which
would necessaril y result from any at.
tempt to increase the influence of
monarchical institutions over that
portion of the America which has been
dedicated to Republican government
No nation can afford to be unjust
to its defenders. The care of those
who have suffered in the military and
naval service of the country is sac
red duty. A nation which, like the
United States, relied upon volunteer
service rather than upon a large
standing army, adds to its own securi.
ty when it makes generous provisions
for those who have risked their lives
in its defense, and for those who are
dependent upon them.
Labor created capital. Until wealth
is produced by 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 products of wealth
create the nations prosperity in time
of peace and defend the nations flag
in time of peril, their interest ought
at all times be considered by those
who stand in official positions. The
Democratic party has ever found its
voting strength among those who are
proud to be known as the common
people, and it pledges itself to propos }
and enact such legislation as is neces-
sary to protect the masses In the free
exercise OF every political right aud in
the enjoyment of their just share OF
the rewards OF their labor.
[ desire to give special emphasis to
the plank which recommends such
legislation as IS necessary 10 secure
the arbitratian Of differences between
employers engaged in interstate COM
merce and their employees. Arbitra-
tions is not new idea it is simply an
extension of the court OF justice. The
laboring men Of the country have ex.
pressed a desire for arbitration aud
the railroads cannot reasonably object
to the decisions rendered by an i'm
partial tribunal. Society has an in
terest even greater than the interest OF
employees and has a right to protect
itself by courts of arbitration against
the growing inconveniences and EN-.
barrasslnents occasioned by disputes
by those who own the great arteries
OF commerce on the one hand and the
laborers who operate them on the
other.
While the Democratic party vel.
comes to the country those who come
with love for our institutions and with
determination and ability to con-
tribute to the prosperity of our ma
ton, it is opposed to the dumping of
criminal classes upon our shores and
to the importation of either pauper or
contract labor to compete with Ameri.
can labor
The recent abuses which have grown
out OF injunction proceedings have
been so emphatically condemned by
public opinion that the senate bill pro.
yiding for trial by iury in certain