The times. [volume] (Richmond, Va.) 1890-1903, 1896-07-11

national banks and that all paper money
shall he issued directly by the Treasury
Department. and be redeemable In coin
and receivable for all debts. public ana
private"
This was afterwards modified to read
thus:
congress alone has the power 10 coin
and issue money and President Jackson
declared that this power could not De
delegated to corporations or individuals
I'VE therefore denounce the issuance or
notes intended 10 circulate as money by
national banks as IN dcrogauon OF the
Constitution. and We demand that all
,sner which f. made a legal tender for
nublic and private debts. and which Is
receivable for dues to the United states
shall be issued 10y the Government OF the
United States, and shall be rcdccmable In
coin"
IL IS very plain that Tillman and the
other Populsts in the convention dc
fatcd this plank as IT was hrst agreed
on. We are not informed how the change
came 10 be made. but II was no doubt
through representations that there was
very large body Of Democrats in the
South who. while free coiners, very earn
cstly favored the principle Of paper issues
by banks. But even as changed, 1t is
intended TO be an assurance TO the Popu-
lists that the Democratic party Will allow
no paper issues except by the Govern
ment OF the United States. In denounc-
ing the issue Of notes by the national
hanks they expect to satisfy the Popu-
lists that there will be no issues of pa
per money by any banks whatever, be-
cause. as the state banks are already for
hidden 10 issue them, they expect the
Populists 10 assume that the only paper
issues to be permitted are Government
issues. The plank. as adopted, is very
astutcly drawn. so as TO seem TO meet the
demand OF the Populists that all paper
currency shall be issued by the United
states Government. but so as to leave 1t
open to be claimed that the Democratic
party is not opposed TO State-Dank
notes. Observe. it denounces the issue
of notes by national banks" which, with
state banks already prohibited TO issue
them. would seem TO pronounce against
any bank paper. But when 1t comes TO
saving what paper currency may be Is
sued it says the paper which is TO be
illegal tender for debts" shall all be is
sued by the Government. OF course, the
notes of state banks cannot be made
LEGAL tender. so that the artful dodger
who drew this plank has it left open TO
saw that the Democratic party is opposed
10 the national banks issuing any notes,
and that such notes as are 10 be legal
tender for debt must be issued by the
United states Government, but that II
Congress should repeal the tax on state
hanks they might issue their notes lrsr
cause they could not be made legal-ten-
ders. It is played very finely and astu'eiy
10 catch the Populists and stu leave
Southern Democrats who want State
hank notes the hope that they may get
them. But it is a dishonest trick all the
same. and it repudiates Democratic doc
trine and adopts the odious features OF
the Populists' doctrines. 1t sanctions the
idea that the Government can make paper
a legal tender. which is Populist ana
not Democratic doctrine and 1t aDahdohs
the open. specific demand for state
hanks which demand is the very essence
of Democracy.