The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1896-09-10

tion of the principles of local self govern
ment as circumstances would permit, and
we cannot dispute the correctness of the
position taken by them without express
ing a distrust of the people themselves.
Economy Is Necessary.
Since governments exist for the protec-
ton of the rights of the people, and not |
for their sp oliation, no expenditure of |
public money can be justified unless that |
expenditure is necessary for the honest, |
economical and efficient administration of |
the government. In determining what |
appropriations are necessary, the Interest,"
of those who pay the taxes should be con-
suited, rather than the wishes OF those
who receive or disburse public moneys.
The Matte, Of Bonds.
An increase in the bonded debt Of the
United States at this time is entirely with
out 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 United States and treasury notes,
but this necessity was imaginary
rather than real. Instead OF ex-
ercising the legal right vested
in the United States to redeem its coin
obligations in either gold or silver, the
executive branch Of the government has
followed q precedent established by
| former administration and surrendered
| the option to the holder of the obligations
| This administrative policy leaves the gov
Fernment at the mercy of those who find
pecuniary profit in bond issues. The fact
that the dealers in money and securities
have been able to deplete or protect the
treasury according their changing whlms,
shows how dangerous it Is to permit them
to exercise controlling influence of the
treasury department.. The government of
the United States, when administered In
the interests of the people to establish
and enforce it's financial policy, not only
without the aid of syndicates, but in spite
of any opposition which syndicates may
present.
Toassert that the government Is depend
ent upon the good or assistance OF any
portion of the people other than constl-
tutional ma ajority is to assert that we have
government in form but without vital
force.
National Bank Currency.
The position taken by the platform
against the issue Of paper money by ma
tional banks is supported by the highest
Democratic authority, as well as demand
} ed by the interests of the people. The
present attempt of the national banks to
force the retirement of United States and
treasury notes in order to secure basis
| for a larger issue of their own notes. IL
r lustrates the danger which arises from
permitting them to issue their paper as a
circulating medium. The national bank
notes. being redeemable in lawful money
|, have never been better than the United
: States note which stands behind 1t, anC
yet the banks persist that these United
States notes which draw no interest, shall
give place to interest-bearing bonds II
: order that the banks may collect the in
terest which the people now save. To EN-
: power national banks to issue circulating
notes Is to grant valuable privilege to
favored class, surrender to private corpor
ations the control over the volume o
paper money and build up class whicl
will claim n vested interest in the nation
financial policy. Our United State
. notes, commonly known as greenbacks
' redeemable in either gold or silver, at tn
!, option Of the government, and not at tn
"a option of the holder, are safer and cheape
: for the people than national bank note
based upon interest-bearing bonds.
,s The Monroe Doctrine.
IS A dignified but firm maintenance OF tn
q foreign policy first set forth by Presiden
n Monroe and reiterated by the president
l. who have succeeded him, instead of arous
r ing hostility abroad, is the best guarante
r of amicable relations with other nations
ls 1t is better for all concerned that tn
l. United States should resist any extensio
IL Of European authority In the Wester
It Hemisphere rather than invite the contil
n- ual irritation which would necessarily n
suit from any attempt to increase tt
t. influence of monarchial institutions ov.
n that portion of the Americas which hi
r been dedicated to Republican governmen
1t Pensions.
% No nation can afford to be unjust to 1
defenders The care of those who ha,
suffered injury in the military and nav
er service of the country Is a sacred duty.
at nation which, like the United States, r
n lies upon voluntary service rather tina
pt upon a large standing army, adds to
he own security when it makes generO'
o. provision for those who have risked the
!, lives in it's defense and for those who a
n dependent upon them.
a. Producers Of Wealth.
1t Labor creates capital. Until wealth
y produced by the application Of brain al
In muscle to the resources OF this countr
d. there is nothing to divide among the no
le. producing classes of society. Since Il
to producers of wealth create the nation
ce prosperity in time of peace, and defer
es, the nations flag in time of peril, their
'ct terests ought at all times to be consider
n by those who stand in official position
he The Democratic party has ever found
as voting strength among those who a
OF proud to be known as the common peop
,al and 1t pledges itself to propose and ena
Is. such legislation as is necessary to prott
the masses in the free exercise of eve
ne political right and in the enjoyment
ell :heir just share of the rewards of tn
eu labor.
ell Emphasis ON Arbitration.
ns desire to give special emphasis to
, plank which recommends such legislati
~ ~ as is necessary to secure the arbitration
' @ differences between employers engaged
~ interstate commerce and their employ
oo' Arbitration is not new idea-it is simI
an extension of the court of justice.