Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-09-18


careful observance OF the limitations
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
protect each State against Invasion, it
is not authorized to interfere in the
domestic affairs of any State except
upon the application of the executive
when the legislature cannot be con-
vened.
This provision rests upon the sound
theory that the people of the State
acting through their legally chosen
representatives., are, because OF their
more intimate acquaintance with
local conditions, better qualified than
the president to Judge OF the necessity
for federal assistance. Those who
framed our constitution wisely deter
mined to make as broad an applica-
ton CT the principles of local self gov
ernment as circumstances would per-
nit, and we cannot dispute the cor
rec.ness of the position taken by them
without expressing a 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 expendi-
ture of public money can be justified
unless that expenditure is necessary
for the honest, economical and eff.
cient administration of the govern
ment. In determining what applica-
tions are necessary the interest of
those who pay the taxes should be
consulted, rather than the wishes OF
those who receive or disburse public
moneys.
An increase in the bonded debt of
| the United States at this time is en-
tirely without excuse. The issue of
interest bearing-bonds within the last
few years has been defended on the
ground that they were necessary to
secure gold with which to redeem the
United States notes and treasury
notes, but this necessity has been
imaginary rather than real.
Instead of exercising the legal right
vested in the United States to redeem
its coin in either gold or silver. the
executive branch of the government
has followed precedent established
by former administration and sur
rendered 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 chang
ing whims, shows how dangerous it is
to permit them to exercise a control
ling influence over the Treasury De-
partment.
The government of the United
States when administered in the
interest OF all the people, is able to
establish and enforce its financial
policy, not only without the aid OF
syndicates, but in spite of any opposi-
ton which syndicates may present.
To assert that the government is de-
pendent upon the good will or assist
ance OF any portion of the people, other
than the constitutional majority, is to
assert that we have a government in
form but without vital force.
NATIONAL BANKING CURRENCY.
The position taken by the platform
against the issue of paper money by
national banks is supported by the
highest Democratic authority as
we'll as demanded by the interests of
the people. The present attempt of
the national banks to force the re-
tirement of United States notes in
order to secure basis for q larger is
sue of their own notes, illustrates the
danger which arises from permitting
them to issue their paper as . cir
culating 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 persistent
! ly demand that those 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, to grant a valuable
privilege to favored class, is to 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 nations
financial policy. Our United States
notes, commonly known as green
backs. being redeemable in either gold
or silver, at the option of the govern
ment, and not at the option of the
holder, are safer and cheaper for the
people than national bank notes based
upon interest bearing bonds.
MONROE DOCTRINE.
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 amicable
relations with other nations. It is