Pine Bluff daily graphic., 1896-09-10

while the United States guarantees to every state a republican form of gov ernment and is empowered to protect each state against invasion, it is not au- thorized to interfere in the domestic af- fairs of any state, except upon appliea' ton of the legislature Of the state or upon the application of the executive where the legislature cannot be con vened
 This provision rests upon the sound theory that the people of the state, act l ing through their legally chosen repre- sentatiyes gre, because of their more intimate acquaintanees with local con ditions. better qualified than the presi- dent to judge when Federal assistance is needed. The constitution wisely de- termined to make as broad an appllea- ton of the principles of local selfgevern- ment as circumstances would permit, and we cannot dispute the correctness of the disposition taken by them with out expressing a distrust of the people themselves.
 Economy
 Since governments exist for the pro- tection of the rights of the people and not for their spoliation, 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 neees- sary, the interest of those who pay the taxes should be consulted, rather than those who receive or disburse public monies.
 Bonds.
 An increase in the bonded indebted ness of the United States at this time is entirely without excuse The issue of interestbearing bonds within the past few years has been defended on the ground that they were necessary to se- cure gold with which to redeem United States notes and treasury notes, but this necessity was imaginary rather than real. Instead of exercising the legal right best ill the United States to re- deem it's coin in either gold or silver, the executive branch of the government has followed precedent established by former administration and surren- dered the option to the holder of the obligation This administrative policy leaves the government at the mercy of those who find 8 peeuniary profit in bond issues. The fact that the dealers i'll money and securities have been able to deplete or protect the treasury accord ing to the changing whims shows how dangerous it IS to permit them to exer- else controlling influence oi the treas ury department. The government of the United States, when administered in the interest of all people is able to es- tablish and inforce it's financial pol icy not only without the aid of syndicates, but ill spite of any opposition which syndicates may pre- sent. To assert that the government is dependent upon the good will or as sistance of any portion of the people other than constitutional majority is to assert that we have government iA form, but without vital force
 National Bank Currency.
 The position taken by the platform against the issue of paper money by na- ;ional banks is supported by the highest Democratic authority, as well as de- handed by the interests of the people The present attempt of the national banks to force the retirement of United States notes and treasury notes in order to secure basis for larger issue of their own notes illustrates the danger which arises from permitting them to issue their paper as circulating me- dium. The national banknote, being redeemable in lawful money, has never been better than the United States note, which stands behind it, and yet the banks consistently demand that these United States notes, which draw no in- ;erest, shall give place to interest beay- ing bonds i'll 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 valuable privilege to a favored class, surrender to private corporations the control over the volume of paper money and build up class which will claim 8 vested right in the nations financial policy. Our United States notes, com. monly known as greenbacks, being re- deemable in either gold or silver, at the option of the government. and not at | bba rvotiO,, of fbo ho' 1o,. o.o