The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-05-25
AMERICAN INDEPENDENTS.

The man who, in these days, cannot
formulate platform and draw UP a
declaration of principles shows him
self to be no student of current poll
ties. Undoubtedly it is easier to
draw up a platform and declaration
CT principles that it is for a rich man to
enter into the kingdom of heaven
Mr.. William p. st. John. president of
the Mercantile National bank, New
York, is such a man.
He would call his party the American
Independents, rather high sounding
name. His platform contains four
planks. That 1T contains no more is a
merit of itself. The first, and most i'm
porbant, is the one on the financial
question. 1t is the best of the lot by
all odds. 1t declares:
That the minis of the United States
shall be reopened to equally InreStrict-
ed coinage for gold and silver into the
unlimited legal tender money of the
United States; the gold to issue in the
present standard gold coins, and the
silver to issue in the present standard
silver dollars. DepoSitors of the gold
or silver at the mint 10 receive in Lieu
of coin, If they prefer, at the coming
value thereof, coin certificates which
shall be redeemed on demand in gold or
silver coin at the option and at the
convenience of the United States. And
as a safeguard against panic and mon
ey stringency the secretary of the
treasury shall be empowered to issue
such coin certificates additionally
against deposits of interest bearing
bonds of the United States, the inter
est accruing on the bonds to inure to
the United States pending their re-
exchange for the coin certificates,
which coin certificates when returned
shall be cancelled; provided that such
additional issue of coin certificates
shah not reduce the percentage of coin
and bullion reserved for coin certifi-
Gates and silver certificates below so
per cent of the aggregate sum OF coin
certificates and silver certificates out
standing. The now outstanding silver
certificates. gold certificates and treas
ury notes of 1890 to be retired as they
come into the treasury.
Mr.. St. John explains that this plank
means free coinage at the ratio of 16
to 1, and that the coin certificates are
to take the place of gold certificates,
silver certificates and treasury notes
of 1890. The safeguard against panic
and money stringency, he explains.
would provide for a temporary increase
Of S30O,0e0,O0O of paper money against
the silver on hand in the treasury on
April l.
The second plank deals with the tar
iff and is protectionist to the core. 1t
declares among other things that I'VE
are, therefore, opposed to opening our
home market of seventy millions of
consumers to the foreigners ON any pre-
tence of procuring thereby a foreign
market for the productions of the Unit
ed States. But we shall exact of our
manufacturers that they accord to la
Dor a liberal and more continuously
certain share of the protection ac-
corded them; and that the tariff de-
vised shall afford also a protection to
the farmer and the planter, and pro-
vide sufficient revenues for the necessa-
~ expenditures of the government.
The third plank demands the appli-
cation of the principle known as the
initiative and referendum to all nation
cal change of policy. 1t is very faulty
in making no provision for determining
when a change in public policy is
radical.
The fourth plank condemns Cleve-
landism in terms.
There will be plenty of room on that
platform for all who care to stand
e., -
come crowded.
The first plank is very good indeed |
and would be generally accepted by
free coinage advocates. The second
one would be accepted by no Democrat
while it would utterly fail to satisfy a
Republican.
The American Independents are not
destined to play a conspicuous part in
their country's history.