The true northerner., 1896-07-15
Money Record Of the Democracy
From the Inter Ocean:

From the Inter Ocean:
There are always good many
voters in the country who care very
little about party. Their political
convictions on the standard and
abiding issues of the day are not
based on the solid rock of estab-
lished assurance. Four years ago the
democracy got the advantage of this
uncertain quantity. Now it is just
the other way. Nor is this advan-
tage confined TO those who have been
convinced by the logic of events
that protection is better than free
trade. 1t takes in also a very large
class of citizens who are especially
anxious about the money question.
This anxiety also tends strongly in
favor of the republican party, for the
record of the democratic party pre-
sents sharp and telling contrast IN
this respect, too, to the record OF the
republican party.
When the democracy came into
power, under Jackson, our financial
system was very unsatisfactory. We
had one great central bank, located
in Philadelphia. Jackson's opposition
to it was great element of his pop
ularity. The people did not like it.
He succeeded in destroying it, and
there he stopped. Now when the re-
republican party came into power 1t,
too, found a very unsatisfactory
financial system. Its faults were rad
ically different from those of the sys-
tenn which confronted the democracy
when it came into power, but it was
bad enough to be utterly vicious.
And the republican party destroyed
it. It's absolute annihilation was
brought about by the enactment of
one of the shortest statutes ever
passed by any Legislative body. BY
simply imposing tax of 10 per cent
on the bills put in circulation by the
state banks of issue, the system of
money which had grown up during
the period of democratic ascendency
in politics was entirely wiped out.
Not vestige of it was left. 1t was
as if the ruins of the old national
bank had been overgrown by weeds
briers and poison ivy and the pruning
hook of republicanism cut them
all away and made bonfire of them.
But, unlike the democracy under
Jackson, the republicans under Lin
coin were not content to merely tear
down and destroy. Having gotten
rid Of the abominable money of the
state bank system they gave the
country, in its place, double system,
greenbacks and national bank notes.
The democrats fought both with all
the energy of desperation, but the
new system was established, more or
less securely, and proved an incal.
culable improvement upon the old
system.
We are not now discussing the ft-
ness of that system to the wants of
the present time, nor saying that
more or less radical changes may not
be necessary to meet existing require
ments, but this we do say, that one
party demonstrated its incapacity to
do more than destroy, while the other
demonstrated its constructive capac-
ity. To tear down a building no
longer fit for use is only the prelimi-
nary step toward putting up build
ing suited to the site.
The American people are not like
ly to overlook the lesson of this con-
trast. The blunders Of the demo-
cracy during Mr.. Cleveland's present
term have shown that in a general
way the democratic party is not
equal to the constructive response
bilities of the government; that it is
the same aggregation of organized
and rapacious incompetency now that
it was during the period from jack
son to Lincoln.
|
PRoF. &. V. Il. Bellows of Mt.
Pleasant, who is prominently men,
toned in connection with the nomi-
r