New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-07-15
The Democratic Financial Plank.

The Democratic Financial Plank.
We,the Democrats Of the United States
In national convention assembled, do re-
affirm our allegiance to those great es-
sential principles of justice and liberty
upon which ourinstitutions are founded
and the Democratic party has advocated
from Jefferson to our own time, freedom
OF speech, freedom of the press, freedom
of conscience the preservation Of person
al rights, equality of all citizens before
the law, and the faithful observation of
constitutional limitations.
During all these years the Democratic
party has resisted the tendency of selfish
interests to the Capitalization Of govern
mental power, land steadtastly maintained
the integrity of the dual scheme of gov
ernment established by the founders of
this republic: Under it's guidance and
teachings the great principle of local
self-government has found its best ex-
preston in the maintenance of the rights
of the states, and this assertion of the
necessity Of confining the general gov
eminent to the exercise of the powers
granted by the constitution of the United
States.
Recognizing that the money question is
paramount to all others at this time, we
invite attention to the fact that the fed
eral constitution names silver and gold
together as the money metals of the u
nited States and the first coinage law
passed by congress under the constitution
made the silver dollar the Unit of value
and admitted gold to free coinage at a
ratio measured by the silver dollar unit.
We declare that the act of 1873 demen-
etizing silver without the knowledge or
approval of the American pe'';'' has re-
suited in the appreciation ol :: i and a
corresponding fall in tie prices of corn
modities produced by the people "a heavy
increase in the burden of taxation, and
of all debts public and private; enrich
ment OF the money leading class at home
and abroad; paralysis of industry and
impoverishment of tAe people,
We are unalterably opposed to the
single gold Standard which has locked
fast the prosperity OF an industrious peo-
pie in the paralysis of hard times. Gold
monometallism, is a British policy found
ed upon British greed for gain and pow
er, and its general adoption has brought
other nations into financial servitude to
London. It is not only un-American
but anti-American and it can be fastened
upon the United States only by the stiff
ling of that indominatablcs spirit and love
of liberty which proclaimed our political
independence in 1E76 and won 1t in the
war of the revolution.
We demand the immediate restoration
of the free and; unlimited coinage of gold
and silver at the present legal ratio of
16 to |, without waiting for the aid or
consent of any other nation.
Congress- alone has the power to coin
and issue money and this power cannot
be delegated to corporations or individ
uals. We, therefore, denOunce the issa-
ance o. national bank notes as in deroga-
tion of the constitution and demand that
al paper made legal tender for debts
and fol the payment of duties to the Uni
ted States shall be issued by the govern
ment of the United States. $751;. ~.
We are opposed to the policy and
practice of surrendering to the holders
of the obligations of United States the
option reserved by law to the govern
ment of reaceming such obligation in
either silver coin or gold coin. :"
We are opposed to the issuing of inter
est bearing bonds of the United States in
time Of peace, and condemn the traffic
ing with banking syndicatcs which, in
exchange for bonds and at enormous
profit to themselves, supply the federal
treasury with gold to maintain the poll
cy Of gold monometalism. Congress
alone has power to coin and issue money,
land President Iackcnn 1ac1ara,} tho+ +b;c