Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-01-17
A Gold-Bug Masquerade.

AT the annual banquet of the " Bus
mess Mems Democratic (what a mis-
nomerD Association OF New York,
held on Jackson's day, Secretary 0
the Navy Herbert was present and il
response to the toast Sound MOney
Necessary to Commercial Prosperity,
endeavored to justify the present gold
bug policy by a reference to "Olt
Hickory's" opposition to the United
States Bank, that had been chartered
in 1916, and as was claimed, had con.
spicuously failed to establish a uni
form and sound currency" The Sec
rotary is reported to have said thai
Jackson's opposition likewise extended
to the State banks, and that he was
the unflinching friend of homes,
money that cheats no man." and
"the infleXible foe of deprecated
currency, which is always the robbel
of the poor and the despoiler of indus.
try" This all looks we'll in print and
doubtless sounded very sweetly to the
the ears of the gold-bug jewellers, who
are constantly deceiving the people by
Just such florid rhetoric. The truth
is, however, that there had been no de-
monetization of any part of the cur.
rency bearing the government stamp
to rob the poor" and "despoil indus
try" as Mr.. Herbert by implication
alleges there was.
That President Jackson was the Bit
ter opponent of the same Wall street
spirit which seems to control the pres
ent administration 10 shown by his
message OF 1929 in which he protested
against the renewal of the charter of
the U. S. Bank, and his subsequent
veto of the bill passed by Congress for
its perpetuation. Its failure to become
law would, however, only operate to
suspend its operations after the expi-
ration of the charter in 1886. Not.
withstanding that by this act he ar
rayed against himself the combined
hostility of the moneyed power, an in
fluence that could harrass and annoy,
his attitude toward it remained I'M
compromising, and upon assuming
his second term of Office, in 1888, he
decided that the public funds be re-
moved from the United States Bank,
although the time had not expired for
which it had been designated as the
legal depository of government funds.
1t will thus be seen that President
jackson. instead of lending his influ-
ence to the moneyed power to enable
it to corner and control public money
took course which effectually blocked
any such a game. Instead OF opposing
the State banks, he devised plan
whereby the money arising from the
tariff was distributed among the sew.
eral States by designation of State
banks as fiscal agents of the govern
ment. The removal OF the deposits
from the u. S. Bank created intense
hostility against Jackson among the
Wings, representing the do-nothing,
tax-esting, aristocratic element of the
population, same as their lineal de-
descendants, the Republican party,
do to-day.
1t is difficult to discover a single
leash whereby the fame of the immor-
tai Jackson may be made to serve as
an aid to the cause of the gold-bugs at
this time, and Secretary Herbert's eff.
fort to do 80 betrays either ignorance
of history or q contemplate effort to
deceive those who accept the utter.
ances of those holding high position,
without thought or examination.
The " Immigration" Convention.
1t is surmised in some quarters that
the immigration Convention held at
Seattle this week, 10 q shrewd move on
the part of the State executive to
bring together the prominent Repub.
lican politicians of the State, with q
view of agreeing upon a programme
for the approaching State campaign
This opinion is not dispelled by the
statement that its membership is se.